The Greenspring Fund (MUTF: GRPSX) is an IRA mutual fund for long-term investors who can withstand some risk. It invests primarily in securities issued by U.S.-based companies of any size, but may invest in foreign issuers and companies that have filed for bankruptcy protection to restructure their finances or are in the process of liquidating assets.
Here are the specifics for the Greenspring Fund for today’s mutual fund spotlight:
Investing Strategy: Long-term capital appreciation is the primary objective of the Greenspring Fund, with income as a secondary goal. The fund invests in stocks that are believed to be undervalued when they are purchased, and in bonds that have the potential to provide both capital appreciation and income. Some 46.4% of the fund’s assets are in stocks, 26.4% are in bonds, 17.4% are in convertible securities, and 9.9% is in cash.
Expense Ratio: With a 0.98% expense ratio and no transaction fee, the Greenspring Fund is moderately priced, when compared with other funds in the mid-cap blend category. It has a Morningstar rating of five stars.
Top 5 Holdings: The top five stocks in the Greenspring Fund include international reinsurance holding group PartnerRe Ltd. (NYSE: PRE) at 4.24%, rehabilitation services provider Healthsouth Corp. at 10.75% (NYSE: HLS) at 4.08%, mutual funds Invesco Short Term Investment Liquid Assets (MUTF: LAPXX) at 4.06% and Invesco Short Term Investment Prime (MUTF: SRIXX) at 4.03%, and global business advisor FTI Consulting, Inc. (NYSE: FCN) at 3.35%
Returns: The fund’s near 4% return over 12-months underperformed the broader market’s 17% return during the period. Its five-year return of 6.8% also underperformed the Dow Jones Industrial Average’s 9.73% return and the S&P 500’s 1.5% return during the period.
Other Fund Statistics
- Total Assets: $950 million (as of 6/10/11)
- Minimum Investment: $5,000 ($2,500 IRA)
- Fund manager: Charles Carlson
- Manager’s Tenure: Since January 1987
