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David Williams of Columbia Value and Restructuring
Posted by: valuefan (IP Logged)
Date: May 12, 2008 12:00PM
only has a 12% annual turnover
from Morningstar -
Columbia Value & Restructuring (UMBIX
15-year Return: 15.82%
This fund recently got a new parent--and a new name--but it's still a winner. We most like its manager, David Williams, for his candor, humility, and simple approach. He's proved a great judge of corporate managements going through restructuring, which has paid off for shareholders. From time to time, the fund's conviction and long-term mindset mean it can fall behind the pack--and it can suffer bouts of volatility--but Williams has shown a knack for avoiding value traps. There is some key-man risk here--Williams has already amassed a multidecade record, and though he works with a small team, he is a big contributor to the portfolio--but as long as Williams remains at the helm (at least), we're confident. We recently made the fund an Analyst Pick, and Williams was a runner up in 2007's Morningstar Manager of the Year deliberations.
Re: David Williams of Columbia Value and Restructuring
Posted by: gurufocus (IP Logged)
Date: May 12, 2008 09:53PM
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