Morningstar Rating

Fund Research and Analysis

by John Coumarianos
Stick with USAA Aggressive Growth.

This fund hasn't given investors much reason to cheer lately, but it's proved a fine large-growth holding over the longer haul. While stumbling with bottom-half category performances in 2008 and again for nearly the first 10 months of 2009, manager Tom Marsico has delivered a 0.  Read more 

Kudos

Manager Tom Marsico is experienced and has enjoyed considerable success elsewhere.
Expense ratio is attractive. Read more 

Risks

Manager's macroeconomic bets can backfire over short periods.
Assets are a growing concern. Read more 

Strategy

Subadvisor Tom Marsico, who took over this portfolio in mid-2002, combines top-down macroeconomic analysis with bottom-up stock-picking. He fills the bulk of the portfolio with steady-growth stocks that he intends to hold for the long haul, but he also has owned more-explosive growth names in tech and telecom.  Read more 

Management

USAA enlisted Tom Marsico to subadvise this offering in June 2002. Marsico also runs Marsico Focus and Marsico Growth. He has built terrific records at those offerings and at prior charges. Sixteen analysts assist him, and two other portfolio managers pitch in as well.  Read more 

Inside Scoop

Subadvisor Tom Marsico, on board since June 2002, has done a nice job with this fund so far. He gave it a big overhaul in 2002, and now the portfolio is much more concentrated and has a large-cap focus, with a few mid-caps.  Read more 

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