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Top Balanced Asset Allocation Funds
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ShareToday we are featuring top-performing "Asset Allocation" balanced mutual funds, which primarily seek total return and provide both income and capital appreciation while avoiding excessive risk. At the same time, they help investors maintain an appropriate asset mix while avoiding the hassles of doing this on their own.
Investors can find such balanced funds by checking out the entire list of the the Zacks #1 Rank Asset Allocation Balanced Funds.
5 Great Choices
Hartford Growth Allocation A (HRAAX) was incepted in May 2004. This balanced fund seeks long-term capital growth.
At least 80% of the fund’s assets are invested in equity funds and approximately 20% in fixed income funds. The balanced fund mainly invests in Y shares of underlying funds. It may also invest in fixed income funds of varying credit ratings and in international equity funds.
The balanced fund has an expense ratio of 1.39% against a category average of 1.08%. As of October 2009, it has a portfolio turnover of 7% against a category average of 78%. The fund’s top holdings include Hartford Capital Appreciation Y, Hartford Value Y and Hartford Total return Bond Y. In the third quarter of 2009, the fund outperformed its benchmark, the Hartford Growth Allocation Index and the Lipper Mixed-Asset Target Allocation Moderate Funds category.
Hugh T. M. Whelan has been lead manager of this balanced fund since March 2006. Whelan is a Chartered Financial Analyst and has been Executive Vice President of Hartford Investment Management since 2005.
RiverSource Portfolio Builder Total Equity A (AXTAX) seeks the highest level of total return consistent with an aggressive level of risk. The balanced fund was incepted in June 2004.
Between 95% to 100% of the fund’s assets are invested in equity securities which differ in terms of style, market capitalization, and geographic location. It also invests less than 5% of assets in cash investment. This balanced fund invests in diversified underlying holdings, even though it is non-diversified.
The balanced fund has an expense ratio of 1.32% against a category average of 1.08%. As of October 2009, it has a portfolio turnover of 28% against a category average of 78%. The fund’s top holdings include Seligman Growth New I, Riversource Diversified Equity Income I and Riversource Disciplined Equity I. As of November 2009, the fund had outperformed its benchmark index for the 1-year and 5-year periods, but had returned comparatively lower returns for the 3-year period.
David Joy has been lead manager of this balanced fund since March 2004. Before his current assignment, Joy was a senior vice president and director of global investment communications of Pioneer Investments
Aim Growth Allocation A (AADAX) seeks long-term growth of capital consistent with a level of risk higher than the stock market. The balanced fund was incepted in June 2004.
Being a "fund of funds,” this balanced fund invests in other underlying mutual funds. Typically, its investments have a higher level of risk compared to the S&P 500 Index. The balanced fund invests about 95% of total assets in underlying funds that invest in equity securities. These include underlying funds that invest in foreign equity securities. 5% of its total assets are invested in underlying funds that invest primarily in fixed-income securities.
The balanced fund has an expense ratio of 1.26% against a category average of 1.08%. It has an annual portfolio turnover of 16% against a category average of 78%. The fund’s top holdings include AIM Balanced Risk Allocation I, AIM International Core Equity I and AIM International Growth I. As of November 2009, the fund had outperformed its benchmark index for the 1-year and 5-year periods, but had returned comparatively lower returns for the 3-year period.
Gary K Wendler has been lead manager of the fund since April 2005. Wendler has been with AIM Advisors since 1995.
Eaton Vance Tax-Managed Equity Asset-Allocation A (CAAPX) seeks long-term capital appreciation post tax. It was incepted in March 2002.
The balanced fund invests in diversified tax managed equity portfolios managed by Eaton Vance or its affiliates the Eaton Vance Tax-Managed Portfolios. At least 75% of its total assets are invested in common stocks of U.S. companies, 25% in small or emerging companies and 25% in foreign securities. Its returns are primarily a result of price appreciation and are not subject to current tax.
This balanced fund has an expense ratio of 1.36% against a category average of 1.08%. The fund’s top holdings include Anadarko Petroleum Corp, Nestle SA and J.P. Morgan Chase & Co. The Fund’s Class A shares outperformed the Russell 3000 Index for the year ending October 31, 2009.
Duncan W. Richardson has been lead manager of the fund since March 2002. Richardson is Executive Vice President and Chief Equity Investment Officer of Eaton Vance Management.
Fidelity Asset Manager 70% (FASGX) seeks long-term appreciation by investing in stocks, bonds, short-term instruments and other investments. It was incepted in December 1991.
Domestic and foreign stocks, bonds, and short-term and money market instruments constitute the majority of this fund’s investments. This fund's investments normally consists of 70% stocks (can range from 50-100%), 25% bonds (can range from 0-50%), and 5% short-term/money market (can range from 0-50%). These allocations are subject to periodic review and changes are made to provide a favorable outlook so that the fund's objective may be achieved.
The balanced fund has an expense ratio of 0.89% against a category average of 1.01%. As of September 2009, it has a portfolio turnover of 14% against a category average of 83%. The fund’s top holdings include USTN 2.75%, USTN .75% and Microsoft Corp. As of December 2009, the fund had outperformed the S&P 500 for the 1-year period, 3-year and 5-year periods.
Geoffrey Stein has been lead manager of the fund since June 2009. Stein has been with Fidelity Investments since 1994.
Discover Many More Funds
Learn more about the new Zacks Mutual Fund Rank and discover some of the best market-beating mutual funds by browsing our mutual funds section. This part of Zacks.com offers a variety of tools, including mutual fund research, a new mutual fund screener, helpful answers to frequently asked questions and quick access to prospectuses and other information.
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward.
Read the full analyst report on HRAAX
Read the full analyst report on AXTAX
Read the full analyst report on AADAX
Read the full analyst report on CAAPX
Read the full analyst report on FASGX
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| Market Summary | May 26, 2012 03:00 am ET |
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