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Home > Financial Services > Mutual Funds > Weitz
Weitz
Wallace R. Weitz & Company was established in 1983 with about10 million dollars under fund management. The firm is a registered investment adviser and manages over 6 billion Dollars for the Weitz Funds, individuals, corporations, pension plans, foundations, and endowments.
There are various types of funds like Weitz Balanced, Weitz Fixed-Income, Weitz Hickory and Weitz Partners Value.
The Balanced Fund is a non-diversified fund and seeks regular current income, capital preservation and long-term capital appreciation. The fund normally will invest 50 percent-75 percent of its assets in common stocks and securities convertible into common stock such as rights, warrants, convertible preferred stock and convertible stock. The fund generally will invest at least 25 percent of its assets in investment grade fixed income securities.
Weitz Series Fund Fixed-Income Portfolio seeks current income consistent with the preservation of capital. The fund normally invests at least 65 percent of assets in fixed-income securities consisting primarily of U.S. government securities and investment-grade corporate debt. It may invest up to 15 percent of assets in debt securities rated below BBB. The fund may engage in options and futures strategies for hedging purposes only.
The investment seeks capital appreciation; income is secondary. The fund is a non-diversified fund and invests primarily in equity securities. Investments may include common and preferred stocks, convertible securities, rights, and warrants. Other securities the fund may acquire include U.S. government obligations, investment-grade corporate debt, and mortgage-related securities. The fund may invest up to 25 percent of assets in foreign securities either directly or in the form of American depositary receipts. It may also write covered call options to enhance income.
Risks of the fund force the managers to worry about permanent loss of capital not price volatility. The managers believe in concentrating their portfolio in the most attractive investment ideas and this can cause short-term price volatility of the portfolios. However, the firm’s goal is to earn good and absolute investment returns over long periods of time without exposing their clients’ capital to undue risk.
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