CGM RealtyCGMRX

Morningstar Rating

Fund Research and Analysis

by Courtney Goethals Dobrow

CGM Realty is well worth it, but you must stick with this quirky fund to benefit.

Manager Ken Heebner's aggressive style isn't a good fit for all investors. He builds hefty stakes in individual names and limits the portfolio to 20-25 holdings. So one Read more

Kudos

This fund is capable of knocking the cover off the ball.

Reasonable expenses.

Experienced manager.

This fund's willingness to go beyond pure real estate stocks may help returns when the subsector falls out of favor.

Risks

This fund is willing to take loads of industry and stock-specific risk.

Turnover here is very high, which can generate a huge capital gains tax liability.

Investors interested in pure REIT exposure may want to consider other options.

Results depend on manager ability. Should Heebner leave, shareholders will suffer. Read more

Strategy

Manager Ken Heebner combines his macroeconomic outlook with industry and company-specific analysis to form this portfolio. He looks for companies that are attractive based on P/E and growth rates. The Read more

Management

Ken Heebner has managed this fund since its 1994 inception. He also runs CGM Focus CGMFX and CGM Mutual LOMMX. Before helping to start CGM in 1990, Heebner began his career as an economist in 1965 and put in time as a portfolio manager at Scudder, Stevens Read more

Inside Scoop

This is an aggressive real estate fund. Manager Ken Heebner moves rapidly in and out of the industries that he believes are poised for the best returns. Income-hungry investors Read more

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