Morningstar Advisor - October/November 2010 - 8

Contributors

Executive Editor Jerry Kerns Managing Editor Ryun Patterson Editor-at-Large Don Phillips Contributing Editors Dan Culloton, Paul Justice, Haywood Kelly Contributors Karin Anderson, Michael Breen, Marco Chmura, John Coumarianos, Karen Dolan, David Krempa, Ryan Leggio, Jim Licato, Frank O’Connor, Preethi Parmar, Jeffrey Ptak, Michael Rawson, Carl Richards, Alina Tarlea, Rob Wherry Data Editors Preethi Parmar, Alina Tarlea Proofreader Jennifer Gierat Art Director Teofila Arellano Associate Art Director Alexander Skoirchet Production Designer Summer Bornman Illustrator Gracia Lam

Rob Wherry

Photographer Jessica Scranton Publisher Jill Jacobs-Baar Marketing Director Leslie Banks Circulation Manager Dawn Rescigno Media Services Engineer Brian Schuneman Director of Advertising Sales Mary Uribe Regional Sales Directors Dan Atkinson, Tony Lignelli, Kristina Niemi, Stuart Roge Morningstar, Inc. Chairman and CEO Joe Mansueto President, Equity Research Group Catherine Odelbo Vice President, Financial Communications Business Mike Barad Managing Director, Design David Williams How to Reach Morningstar Advisor Subscriber Services and Circulation magazine_custserv@morningstar.com Editorial and Letters to the Editor magazine_editor@morningstar.com Advertising magazine_adrates@morningstar.com Rate card available at http://advisor.morningstar.com/products/advisormagazine.asp Reprints and Licensing magazine_licensing@morningstar.com How to Reach Morningstar Customer Service 312 384-4000 Advisor Product Sales 877 586-5405 Data Questions 312 696-6600
Morningstar Advisor is published bimonthly by Morningstar, Inc., 22 W. Washington St., Chicago, IL 60602. An annual subscription for delivery in the U.S. is $60. All exhibit data in this magazine is provided by Morningstar and Ibbotson Associates unless otherwise noted. © 2010 Morningstar. All Rights Reserved. The information contained herein: (1) is intended solely for

Morningstar mutual fund analyst Rob Wherry likes a David-versus-Goliath battle. In this issue, he profiles the family behind Croft Value, a $300 million fund in Baltimore that’s beating better-known, and much larger, funds (Page 46). Wherry came across this fund when he was a personal-finance journalist. “I tend to gravitate toward funds that are located far outside the major financial centers like New York,” he says. “In

my experience, these managers have the freedom to explore their best ideas without somebody looking over their shoulder. They don’t run with the pack.” Croft Value is in the top quartile of the large-cap value category over the trailing 15 years. But, Wherry says, assets are increasing as the fund gets noticed, and some contrarian ideas have yet to pan out. “It will be interesting to watch how the fund performs the next few years.”

Gracia Lam

informational purposes; (2) is proprietary to Morningstar and/or its content providers; (3) may not be copied or distributed; (4) is not warranted to be accurate, complete, or timely; and (5) does not constitute investment advice of any kind. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is

Born in Hong Kong and raised in Toronto, Gracia Lam is an illustrator and designer who has worked with a variety of clients, including The New York Times, Businessweek, Out Magazine, and Forbes. While estate planning can have grim undertones, Lam interpreted this issue’s Spotlight section from a unique

perspective. “I wanted to search for a metaphor and imagery that was positive, beautiful, and meaningful,” she says. “The kite idea I developed helped to create a harmonious atmosphere surrounding one’s possessions. These assets, however, strung out from a ball of twine, are fragile and can easily be taken away.”

no guarantee of future results. “Morningstar” and the Morningstar logo are registered marks of Morningstar, Inc. Disclosure: Morningstar licenses its indexes to certain providers, including Blackrock Institutional Trust Company, N.A., First Trust, and Deutsche Bank, for use in exchange-traded funds and exchange-traded notes. These ETFs and ETNs are not sponsored, endorsed, issued, or sold by Morningstar. Morningstar does not make any representation regarding the advisability of investing in ETFs and ETNs that are based on Morningstar indexes.

Morningstar Advisor October/November 2010

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Morningstar Advisor - October/November 2010

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