Excelsior Value & Restructuring Fund - UMBIX
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DESCRIPTION:
Date updated:12-06-2007
The fund has a 5 star rating from Morningstar and is run by David Williams. He is a managing director with U.S. Trust Company of New York. Since he took over the Excelsior Value & Restructuring fund (UMBIX) in 1992, it has returned an annualized 17%.
In a recent interview Williams was asked about his strategy and responded with:
"We buy cheap stocks and we buy companies that are restructuring. There are a lot of cheap stocks out there, but we think companies that are restructuring have a performance edge."
Excelsior Value and Restructuring Fund is an open-end fund incorporated in the USA. The Fund's objective is long-term capital appreciation. The Fund invests at least 65% of its assets in common stocks of U.S. and foreign companies whose share price does not reflect the economic value of the company's assets and where restructuring will serve to highlight the true value of the company.
Current Returns:
1 yr: +8.54
3 yr: +12.94
5 yr: +19.94
From 10-31-07 filing.
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