Two New Morningstar Small-Value Picks
Fidelity Low-Priced Stock exits Fund Analyst Picks list on closing.
We've added Third Avenue Small-Cap Value (TASCX) and FPA Capital (FPPTX) to our list of picks in the small-value category. We also dropped Fidelity Low-Priced Stock (FLPSX) because the fund is closing to new investors on May 10, 2002.
We've been fans of Third Avenue Small-Cap Value for some time. Manager Curtis Jensen seeks out small- and micro-cap stocks that are trading for a fraction of his estimate of their fair value. The fund is fairly concentrated, so it can be more volatile than many of its peers, but its strong long-term record makes it a compelling choice in the small-value category. We like the fund so much that we've included it in Morningstar FundInvestor's Aggressive Wealth Maker Portfolio.
Laura Pavlenko Lutton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.