The following is an excerpt from J.R. BRANDSTRADER | October 13, 2012 | Barrons.com |
It’s a tongue twister, but it’s true. Eric Fischman likes to fish for big, fast fish. “Tuna are the hardest to catch since they are built like torpedoes, so we spend hours and hours and days and days trying to snag one,” says the MFS Growth fund manager, who enjoys searching for the elusive Atlantic bluefins with his two teenagers east of Cape Cod on the family’s 28-foot boat.
During the week, Fischman trolls for blue chips like Apple (ticker: AAPL) and Visa (V) that also have the ability to outswim their rivals. “We try to figure what a company is going to earn over the next five years, how fast they are going to grow, and how long they are going to be able to continue to grow,” he says. Fischman wants to catch the ones whose stock prices don’t fully reflect their long-term prospects.
Investors seeking a “straightforward growth fund are in good hands” at MFS Growth (MFEGX), according to Morningstar. Over five years, the $5.3 billion fund has returned an average of 2.5% annually, and for 10 years, 10%. Over both time periods, MFS Growth’s gains put them in the top quintile of all large-cap growth funds. The fund carries a 5.75% front load, but an expense ratio of 1.09%.
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