The Palm Beach Post from West Palm Beach, Florida on March 30, 1998 · Page 80
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The Palm Beach Post from West Palm Beach, Florida · Page 80

West Palm Beach, Florida
Issue Date:
Monday, March 30, 1998
Page 80
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Page 80 article text (OCR)

" . THE PALM BEACH POST f MARCH 30, 1998 -29 PERSOIL FINANCE Regional mutual funds have big fees, poor results ter, affordable fees and a manager whose philosophy you trust. But if you just want to beef up the local economy, consider instead buying a low cost, broadly diversified stock fund and earmarking part of the proceeds to your local foundation. Then you can at least write off the money you give as a charitable contribution. B Linda Stern is a freelance writer who covers personal finance issues for Reuters. Growth Fund of Washington, the Franklin California Growth Fund and the HomeState Pennsylvania Growth Fund have tended to be solid performers, in part because their territories or operating guidelines are broad enough to afford their managers decent company choices. These funds also tend to have very low turnover rates, because they buy those hometown favorites and hold them for a long time, so they may be more tax-efficient than the average high-turnover mutual fund. But the bottom line still makes it easy to ignore most regional funds. The few good performers still manage to barely beat or just meet the market before fees are taken into consideration. Even EI Nino can hurt a portfolio so lacking in diversity. Some regions are too small; some managers not discriminating enough or forced to buy from lists that are too small. By all means, buy a regional fund if it's got a big char OCCUPATICrAL LICENSES By Linda Stern Reuters WASHINGTON Does it make any sense to invest in a mutual fund because it's close to home and will keep your money there? There are roughly two dozen funds that say yes, and specialize in very specific regions of the United States. These funds, like the Home-State Pennsylvania Growth Fund, the Safeco Northwest Fund and the Franklin California Growth Fund, claim to make money by concentrating very carefully on the investment possibilities of their neighbors. The philosophy behind them, as expressed by Prabha Carpenter, manager of the Growth Fund of Washington, is this: "It makes intuitive sense to be a specialist in your own back yard. We visit all of our companies and know their plans, their prospects and their outlooks. And we don't have to jet across the continent to do that." Carpenter's fund invests in stocks of companies headquartered in Maryland, Virginia, and Washington, D.C. Greg Kidd, manager of the fledgling New York Equity Fund, which buys stocks of companies based in New York state, says his shareholders like to invest in Palm Beach County Occupational Licenses Community Surgical Specialists, 210 Jupiter Lakes Blvd., Jupiter, 33458, (561) 575-7875, physician. Patricia Alexander PA, 240 W. Palmetto Park Road, No. 210, Boca Raton, 33432, (561) 395-8000, attorney. King Solomon's Diner, 2031 Palm Beach Lakes Blvd., West Palm Beach, 33409, (561) 616-9200, restaurant. Southern Homes Exteriors, 6016 Strawberry Fields Way, Lake Worth, 33463, (561) 688-5609, general contractor. Broad & Cassel, 400 Australian Ave. S., No. 500, West Palm Beach, 33401, attorney. Lake Worth Rehabilitation Associates, 7000 W. Atlantic Ave., Delray Beach, 33446, rehabilitation center. Grapevine Subs & Salads, 2677 Forest Hill Blvd.. West Palm Beach, 33406. restaurant. Palm Beach Pediatrics PA. 11903 Southern Blvd., No. 1 1 6, Royal Palm Beach. 3341 1, (561) 798-2468, physi cian. Sellars, Supran & Cole, 811 N. Olive Ave., West Palm Beach, 33401, (561) 655-81 1 1, attorney. Bob Vee's Chinese Food Inc.. 531 S. Main St., Belle Glade. 33430, (561) 996-1903, restaurant. R.E. Blais MO PA, 5150 Linton Blvd., No. 220. Delray Beach. 33484, (561) 499-2277, medical office. Gotcha inc., 900 E. Indiantown Road. No. 305. Jupiter, 33458. (561) 744-1 181, private investigator. companies that they are familiar with. "These companies have a presence here; they pay taxes here, they create jobs here," he said. So does it make sense? Only under the following conditions: You can find a low cost, well-run fund and a lot of very great companies in your back yard. Otherwise you might be paying too high a price to support the home team. As a group, these funds un-derperform the Standard & Poor's index of 500 stocks in almost every imaginable time frame: from one month's performance to 15-year records, reports Morningstar Mutual Funds, the Chicago research firm. Most of them rank in the bottom half of their fund categories. And often they have high sales charges. Morningstar notes in a recent report, "Some entries in the regional-funds genre border on the absurd. There are no intrinsic benefits to owning a fund limited to Cincinnati or Atlanta-based companies, or even a broader-based regional offering. A manager may enjoy an advantage by specializing in local companies, but if such a fund can't compete with more diversified offerings! it's hard to see the selling point" Of course, some regions are more equal than others. The calling card as identification. The company is unwilling to send written information on the offer or to give you references. Individuals who linger nearby while you are making a call from a public phone. Someone who claims you've won a prize, but you haven't entered a contest You must pay a fee before you receive complimentary goods. Always read written material carefully and watch out for the use of misleading words such as: almost, nearly, etc. B For more information, or to learn how you can support your local Better Business Bureau, call (561) 686-2200 in Palm Beach County or (561) 878-2010 on the ad Mawaz Khan. 1 1 699 Acme Road. West Palm Beacn, Fla Lender: Scott E. Martin and Associates, Inc. Attorney: , PWK Q UeD so. CI 97-4601 AF. $24,178.24; Feo. 20. Animal Emergency Clinic, 3425 Forest Hill Blvd., West Palm Beach, 33406, (561) 433-2244, veterinarian. Clayton Construction & Development Inc., 3915 Canal Road, Lake Worth, 33461, general contractor. Seitz Pediatrics PA. 8188 Jog Road, No. 202, Boynton Beach, 33437, (561) 734-4440, physician. A Shutters USA Inc., 145 Ave. L. Delray Beach, 33483, (56 1 ) 265-334 1 , general contractor. Apollo Diner, 331 Yamato Road, Boca Raton, 33431, (561) 989-8974, restaurant. Arthur Pomerantz MD PHD PA, 3801 PGA Blvd., No. 504. Palm Beach Gardens, 33410, (561) 779-7172, physician. Wings Plus, 10045 Belvedere Road, Royal Palm Beach, 3341 1, restaurant. Carey Steel Tying Inc., 725 S.W. 1st Ave., Boynton Beach, 33426, (561) 734-3140, steel contractor. Bruce C. Flneman PA, 1900 Corporate Blvd.. No. 400 E., Boca Raton, 33431, (561) 470-2227, attorney. Mulvaney's Irish Pub, 319 Clematis St., West Palm Beach, 33401. (561) 655- 1 199, restaurant. Martin Harland DO, 1200 S. Main St., No. 100, Belle Glade, 33430, (561) 996- 2024, osteopathic physician. My Doctor PA, 13005 Southern Blvd. Building 1, No. 143. Loxahatchee, 33470. (561) 996-2024. physician. Dan's juice Bar and Coffee, 1 1 7 Royal Palm Beach Blvd.. Royal Palm Beach, 3341 1, (561) 792 8006. restaurant. CLIP N SAVE BETTER BUSINGS BUREAU BBB offers 10 ways to spot a scam Varady & Weinstein Urology PA, 1905 Clint Moore Road, Boca Raton, 33496, (560) 964-1 607, physician. Cafe Du Jour Inc., 47 E. Palmetto Park Road, Boca Raton. 33432, (561) 447-8989, restaurant. Diana Fischer MD, 2880 Tennis Club Drive, No. 705, West Palm Beach, 33417, (561) 689-5920. physician. Martin County Occupational License Holders Allergy & Asthma Center, 800 E. Ocean Blvd., B. Stuart, 34994, (561) 220-8884, physician. Debra L Klein Law Office, 900 E. Ocean Blvd., No. 232, Stuart, 34994, (561) 283-2192, attorney. First Florida Development & Construction, 200 N.E. Dixie Highway, Stuart, 34994, (561) 692-1387, contract Michael J. McHale P.A., 1935 N.E. Ricou Terrace, Jensen Beach, 34957, (561) 334-3305, attorney. Phyllis Miller Gillespie. 221 E. Osceola St.. No. 300. Stuart, 34994, (561) 283-8260, attorney. St Lucie County Occupational Licenses Costa Gallery, 5308 W. Echo Pines Circle. Fort Pierce, 34951, (561) 468-2526, artist. Eldridge Dental Lab. 1809 S.W. Davis St.. Port St. Lucie, 34953, (561) 878-0935, dental lab. Brian B. Mcknight M.D.. 145 N.W. Central Park Plaza. Port St. Lucie. 34986, (56 1 ) 460 8600. physician. "I I J-hizzJ PURPOSE! I 1 1 1 I 1 I 1 -BOCA -STUART EXCHANGE CT. FL 33409 The Better Business Bureau Ten ways to spot a scam. You should be suspicious if: A company has a name that is intended to sound like a government agency or well known company. B You are told you must act on the offer the same day. A telemarketer asks for your bank account, credit or calling card number so you can purchase products or qualify for prizes. A telemarketer asks for your Social Security number so you can purchase goods or qualify for prizes. A telemarketer acts as if he or she had done business with you before. A caller asks for your bank account number, credit card or Bank Rates. Bo mk I I m PAYOFF HIGH RATE CREDIT CARDS & OTHER LOANS! ONE LOW. EASY PAYMENT!! i IMPROVE YOUR HOME INCREASE ITS VALUE!! I ANY SAME DAY APPROVAL APPLY BY PHONE INCOMECREDIT NOT CONSIDERED r:T:tfcfrfrE& w.p.b. RENTAUCOMM. PROP S OX Hfo) CALL FORECLOSURES v 391-9133 288-1212 W.P.B., ! I LQ)ARNETT NOW! WHERE A PHONE 2829 II FINANCIAL SERVICES, INC. CALL CAN SAVE YOU THOUSANDS'. 1 Sue"e"t equity wjuwed Upcoming foreclosure sales. Information from Palm Beach County court files. Mirch 26 Pegasus Development Co and Raja Ant- ucensea Mortgage Lenoer BHBHnOHBHIIBn Bh

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