The Carlson Growth and Fixed Income Fund would not be possible without the investment and support by our 11 participants throughout the Twin Cities. We appreciate their involvement and will continue to keep close relationships with our financial partners in the community.
- Provide students with a realistic view of the industry
- Build a more educated group of finance professionals
- Recruit from top students in the area
- Help students network with other professionals in the field
- Realized positive ROI
- Meet the students during our fall road show
Fund Performance History
The detailed historical performance of the Carlson Growth and Fixed Income Fund are not displayed to the general public. Please feel free to speak with either Professional Directors regarding the performance of the Fund portfolios.
|Carlson Growth Fund||2.43%||298.70%|
|Russell 2000 Growth Index||8.40%||160.00%|
Portfolio Value: $18.1 m
During the month of June, the economy was adversely affected by panic surrounding the IMF default in Greece. Technology stocks continue to raise concerns of a bubble as numerous companies with no reported revenue receive valuations in the tens of billions. Finally, there is growing optimism in the economy with employment prospects up as jobs are becoming more plentiful and as wages increase.
In June, the Carlson Growth Fund saw returns of -0.05% while the Russell 2000 returned 1.27%. A main driver of our underperformance was continued softness in the energy sector led by major reductions in operational rigs, which adversely affected OIS (-8.93%) and NGS (-5.51%) for the month. As we manage the portfolio over the next several months, we expect to close the gap with our benchmark.
Data as of June 30, 2015
|Fixed Income Fund (Gross)||1.06%||3.46%|
|Barclays Int. Gov/Credit Index||1.42%||3.99%|
Portfolio Value: $19 m
In June, the credit markets were characterized by rising interest rates and widening OAS spreads. Expectations for Fed action on short term interest rates and a generally improving economy drove rates, while continued supply and shareholder friendly activity had a negative impact on spreads. Crude Oil prices gradually declined to about $57 a barrel from $62. This can be attributed to worries about demand from both domestic and international markets. This led to a widening of energy spreads and an underperformance of the energy sector as a whole. Greece and China once again dominated the news. With Greece struggling, some flight to quality has occured within investment grade credits, although, it has generally been subdued. Concerns over China have generally been a non-issue for US investment grade credit. China's markets do not seem to be very interconnected with international investors and so far problems have been isolated within the country.
The fund's defensive security selection of high quality investments within corporates offset underperformance due to our overweight position in corporates and widening spreads. Yum! Brands Inc.has recovered well following last months poor performance. During the month of June, Yum! has performed better, spreads widened less than the overall benchmark.Data as of June 30, 2015