LSA Connect

The small-cap market as proxied by the Russell 2000 index is down 13.03% from the beginning of August through August 24^th. This compares to an 8.69% drop for the large-cap S&P 500. Small cap was still outperforming large cap over the trailing one-year, three-year, and five-year periods ending August 24^th.

The small-cap Paradigm Value Fund (PFVAX) and “SMid-cap” Paradigm Select Fund (PFSLX) held up well during this difficult period relative to their benchmarks and peers. The Value Fund is in the top quartile for the one-month and one-year periods. The Select Fund is also in the top quartile for YTD, and 5^th percentile for one-year.  In fact, Morningstar upgraded both funds to five-star ratings at the beginning of August. Continue reading →

LSA FANN RADIO presents Walt Czaicki of Alliance Bernstein

Click here to listen to the replay.

Walt serves as a Senior Portfolio Manager (SPM) on the Blend Strategies team. His duties include periodic client service meetings, conference calls, consultant interfacing and final presentations.  He also provides oversight of institutional client portfolios utilizing the AllianceBernstein Blend Strategies services and has conducted these meetings in the United States, Canada and Australia.

While serving as product specialist for the US and SMID Style Blend portfolios, Walt worked as co-product specialist on the Emerging Market Style Blend service. In addition to his portfolio oversight responsibilities, he also encompasses the creation and ultimate approval of all prospecting, client service presentations, commentaries, and the supervision of requests for proposals for these solutions.  His influence has been instrumental in efforts to modify and enhanced the firm’s SMID Blend prospecting deck.

Walt currently leads the team that assembles the firm’s quarterly, Global Capital Markets Outlook (GCMO) for the Retail and Sub Advisory channels. The GCMO deliverables include a client-approved, PowerPoint deck and written commentary.

Please click the link at the top of the page if you wish to listen, or as always, login to the LSA website and click on “FANN Radio” under the “Resources” tab.

The ASTON/River Road Independent Value Fund managed by Eric Cinnamond is the number 13th best performing of all domestic equity funds year-to-date as of yesterday’s market close, according to Morningstar.com.  It is also the number one performing small cap value fund YTD and the only small cap value fund that is still positive YTD, up .20%.  In fact the fund is one of only two domestic small cap funds that is still positive this year.

ASTON/River Road Independent Value Fund (N: ARIVX) (I: ARVIX)

Fund Quarterly Commentary
2nd Quarter 2011  Commentary
Stocks Flat Following a Volatile Quarter

It was a volatile quarter for equity markets with stocks gyrating on robust earnings early in the period followed by weak economic data. Although management comments provided advance warning of a contraction in growth, the pivot point occurred on April 29 when the slowdown officially appeared in the U.S. Gross Domestic Product (GDP) numbers. A stream of disappointing economic news continued through May, particularly in housing and labor, which weighed on equities. In June, the fiscal crisis in Greece added to the turbulence, with investors initially fearing a broader debt contagion and later celebrating the passage of austerity measures. Toss into the mix the end of the second round of quantitative easing (QE2), more economic braking in China, and the deficit stalemate in Congress and investors were given considerable reason to reduce risk exposure during the period. Continue reading →