Allianz CCM Emerging Companies InstlPMCIX

Morningstar Rating

Fund Research and Analysis

by Katie Rushkewicz

Allianz CCM Emerging Companies is worth keeping.

Although this fund has rebounded nicely after its staggering loss in 2008, it's still trailing the Russell 2000 Growth Index by roughly 2 percentage points through the first half of the year. Managers Read more

Kudos

Solid long-term risk/reward profile.

Seasoned and talented subadvisor.

Responsible soft close in 2004. Read more

Risks

Its sizable stake in micro-caps means that the fund will likely underperform in larger-cap-led markets.

Moderate valuations and an aversion to racier fare can prevent it from keeping up during growth rallies.

Higher expense ratio than other funds that also invest in micro-caps. Read more

Strategy

This fund invests in small-cap companies, including a healthy dose of micro-caps. Management employs a growth-at-a-reasonable-price approach to stock selection. It screens stocks for both growth and Read more

Management

Subadvisor Cadence Capital Management has run this fund since its 1993 inception. Bill Bannick has been at the helm since then, and Bob Fitzpatrick, an analyst at the firm since 1999, took the comanager chair at the end of 2004. Read more

Inside Scoop

Thinking small has meant big returns for this fund over time. It looks for tiny firms with strong earnings momentum and reasonable valuations, and price sensitivity has Read more

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