1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Holly LaFon
Holly LaFon
Articles (10068)  | Author's Website |

Royce Premier Fund Comments on Ares Management

Guru stock highlight

August 15, 2019 | About:

Industrials was the largest source of relative outperformance in the year-to-date period, with both our overweight and superior stock selection boosting performance. Financials also contributed as alternative asset manager Ares Management (NYSE:ARES) gained steadily throughout the first half. A market leader in managing private credit pools, Ares continues to benefit from strong fundraising, as investors favor investments delivering attractive yields in a period with generally low interest rates. The largest source of relative underperformance was the Fund’s cash holdings. The average level of cash in the first half was not high at 3%, but in a period with strong absolute returns, almost any amount is a meaningful drag on performance. The second-biggest relative detractor was Real Estate, where the Fund’s lack of exposure 
to the equity REIT industry hampered relative results, as this was an index-beating group within the overall small-cap market in the first half.

From the Royce Premier Fund second-quarter 2019 manager commentary.

About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

Visit Holly LaFon's Website


Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:


Performances of the stocks mentioned by Holly LaFon


User Generated Screeners


pjmason14Momentum
pascal.van.garsseHigh FCF-M2
kosalmmuse6
kosalmmuseBest one1
DBrizanall 2019Feb26
kosalmmuseBest one
DBrizanall 2019Feb25
kosalmmuseNice
kosalmmusehan
MsDale*52-Week Low
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK