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Home > Financial Services > Mutual Funds > The MP 63
The MP 63
The Moneypaper 63 stock Index was founded at the start of 1994 in order to track a representative sampling of companies that offer dividend reinvestment plans. With an emphasis on quality and diversity, the index contains companies that can easily serve as core holdings in any portfolio, and characterize the long-term aims of the small investor who uses dividend reinvestment plans to build wealth.
The Fund seeks long-term capital appreciation. It normally invests at least 65 percent of its total assets in common stock of companies that make up the stock index, usually large-capitalization stocks, with an emphasis on quality and multiplicity. The minimum initial investment is 1,000 dollars and minimum subsequent investment goes to 100 dollars.
The Moneypaper 63 Index is equally weighted among companies, despite of size, and basically follows the fortune of 100 dollars investments in each company, with dividends reinvested, individually and in the aggregate. So each company has its own index, regardless of price level or stock split history, and the overall index is the aggregate performance of all stocks. When an individual company has a reading of 200, it has doubled the value of its initial investment, which was made at the start of 1994, turning 100 dollars into 200 dollars.
When the fund passed the 200 level in June 6, 1997, they meant that an initial investment of 6,300 dollars had achieved a value of over 12,600 dollars. The individual results varied at that time from 67.30 for Caliber Systems, which was later acquired by FedEx and replaced in their Index up to 486.93 for Intel, meaning that a 100 dollars investment in each would have turned into 67.30 dollars and 486.93 dollars, respectively.
The Moneypaper 63 Stock index is diversified across industries and is composed of companies that offer direct investment plans, regardless of the relative size of the companies. Generally, each company is allocated an equal amount of the total to be invested.
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