Convergence Investment Partners builds all of its investment solutions on the back of its proprietary research engine. The CIP research engine calculates and tracks hundreds of metrics on thousands of companies on a daily basis. Our core research effort focuses on the integrity of the data, with special care to avoid statistical bias.
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Market Insight - January 2012
Both the Convergence Core Plus Fund and the Convergence Dividend Growth Strategy ended the year on a strong note. Shown below are the early year end numbers for both the Mutual Fund and the Composite for Dividend Growth. We will issue fact sheets that you can use with your customers and prospects no later than early next week.
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Convergence Core Plus Adds to Its Lead in 2011
Finishing out its second full year, the Convergence Core Plus Fund added to its lead, beating the Russell 3000 by 280 basis points in 2011. For the year, the Fund returned 3.83% versus the Russell 3000 at 1.03%. This adds to our 2010 performance where the Fund exceeded the Russell 3000 by 580 basis points and the S&P 500 by 767 basis points. Since inception, the Fund is now up 25.39%, or 11.94% on a compound annual basis. This puts the Fund 383 basis points ahead of the Russell 3000 on a compound annual basis since inception.
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Not October 2008
The stock market peaked on April 30 of this year and has steadily declined since, with the move to the downside accelerating in the first few days of August. The 500 point decline on Thursday had all the look and feel of the collapse in 2008.
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June 2011 Commentary - Sourcing Alpha
From January 1st until the end of April, the Russell 3000 had risen 9.1%, and the Russell 2000 advanced 10.8%. Companies that reported solid earnings growth driven by top line sales growth were rewarded. Optimism abounded; then came May.
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May 2011 Commentary - The Meaning of “Plus” in a Changing Market.
Since August of 2010, the stock market has been on a near uninterrupted advance. Large cap stocks as represented by the Russell 1000 are up 32.85% and small cap stocks are up 44.76% as represented by the Russell 2000 Index. In the past few days, however, new anxiety has returned. Economic growth shows signs of slowing, labor market statistics have reversed their previously tepid advance, and the stock market appears to have at least temporarily “rolled over.”