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January 22, 2004 at 07:00 PM
Phoenix-Engemann:Focus Growth Fund/A (PASGX) has changed its stripes.
About a year ago it started expanding from its large-cap base. Now, it includes a healthy dose of mid- and small-cap stocks.
“For more than a year now, we’ve been positioning our holdings to take the greatest advantage of our bounding economy,” said Scott Swanson, who co-manages Focus Growth. “What we’re doing is giving this fund more flexibility and breadth.”
To be sure, the fund’s fortunes remain closely tied to big companies. At the end of 2003, 57% of its holdings were large caps, 19% mid caps and 24% small caps.
But doesn’t adding smaller caps expose the fund to a more illiquid market with less-known names? Swanson and co-manager Lou Holtz think such risk actually plays to their fund’s strengths.
They can now tap into analysts working with Phoenix-Engemann’s other funds.
“As the company’s evolved, it’s grown to include several other large- and small-cap funds,” said Swanson. “The advantage of Focus Growth is that it now combines the best ideas from all of our other funds.”
Holtz, for example, also has helped run Phoenix-Engemann:Small & Mid Cap Growth/A (PAMAX) since 2001.
