The Intrepid Small Cap Fund (MUTF: ICMAX) is a mutual fund made up of undervalued small capitalized companies. The stocks of companies in the fund benefit from having a specific niche or operate in an industry or market environment that requires significant expertise or capital investment.
The fund engages in short-term investing and may appeal to IRA investors with near-term financing needs or Roth IRA owners who don’t want or need the tax deferrals of a traditional IRA.
Here are the specifics for the Intrepid Small Cap Fund for today’s mutual fund spotlight:
Investing Strategy: The fund prefers to invest in undervalued small cap companies that are self-financed, have stable revenue streams and operate in industries or a niche market difficult for competitors to enter. Nearly 66% the fund’s assets are in small-cap stocks. The rest is in cash, primarily because the fund engages in short-term trading.
Expense Ratio: With its 1.42% expense ratio and no transaction fee, the Intrepid Small Cap fund is low to moderately price compared with its category peers. But it is one of the few 5 small cap funds with a Morningstar rating of 5 stars.
Top 5 Holdings: The top stocks in the Intrepid Small Cap Fund include mutual fund SEI Daily Income Treasury B (MUTF: STBXX) at 3.97%, customer interaction solutions provider CSG Systems International, Inc. (NASDAQ: CSGS) at 3.00%, global business advisor FTI Consulting, Inc. (NYSE: FCN) at 2.79%, mutual fund Fidelity Instl MM Fds Government I (MUTF: FIGXX) at 2.72%, and government technology solutions provider, ManTech International Corporation A (NASDAQ: MANT) at 2.60%
Returns: The Intrepid Small Cap Fund’s 12-month return of 11.7% underperformed the broader market’s 22%. However, its 5-year return of 61% significantly outperformed the Dow Jones Industrial Average’s 7.7% return and the S&P 500’s essentially flat return during the period.
Other Fund Statistics
- Total Assets: $792.3 million (as of June 1, 2011)
- Minimum Investment: $2,500
- Fund manager: Gregory Estes, Mark Travis and Jayme Wiggins
- Manager’s Tenure: Since November 2009 for Estes and Travis, September 2010for Wiggins.
