Mutual Fund Insights: California Investment CA Tax-Free Inc Fund (CFNTX)

In-depth Analysis of California Investment CA Tax-Free Inc Fund (CFNTX)

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See California Investment CA Tax-Free Inc Fund (CFNTX) performance details as of January 31, 2010

  

Last Trade: $11.41 on 3/19/2010, Change: 0.00 (0%)

  

Fund Manager - Christopher P. Browne

Fund Manager Tenure: 5.5 years
Fundmojo Fund Grade: D (Score: 0.47)     (What does this score mean?)

Browne joined CCM Partners in October 2004. Prior to joining the firm, he worked in a variety of investment evaluation roles in asset management companies such as: Autodesk Ventures, Dresdner Kleinwort Benson, Harris Bretall Sullivan & Smith, and Pacific Income Advisers. He is a member of the San Francisco Society of Financial Analysts, as well as Beta Gamma Sigma. Browne holds the Chartered Financial Analyst designation.  Get more insights on Christopher P. Browne

  

 What we like about California Investment CA Tax-Free Inc Fund (CFNTX)

Data for California Investment CA Tax-Free Inc Fund (CFNTX) as of January 31, 2010

• California Investment CA Tax-Free Inc Fund (CFNTX) management has been with California Investment CA Tax-Free Inc Fund for 5.5 years
• California Investment CA Tax-Free Inc Fund (CFNTX) has good mid-term performance (3-year return 3.37% vs 3.31% Muni California Interm/Short category average)
• California Investment CA Tax-Free Inc Fund (CFNTX) ratio of up-years vs down years is greater than 2
• California Investment CA Tax-Free Inc Fund (CFNTX) has an annual stock turnover rate of 20.83% vs Muni California Interm/Short average of 40.69%. It is good that California Investment CA Tax-Free Inc management does not trade extensively for its return.
• California Investment CA Tax-Free Inc Fund (CFNTX) has a lower management fee than its Muni California Interm/Short average: 0.74% vs 0.85%
• California Investment CA Tax-Free Inc Fund (CFNTX) is a true no-load fund as it has no load and no 12b1 promotion, distributions, marketing expenses

  

 What we are cautious about California Investment CA Tax-Free Inc Fund (CFNTX)

Data for California Investment CA Tax-Free Inc Fund (CFNTX) as of January 31, 2010

• California Investment CA Tax-Free Inc Fund is a focused fund with 31.78% of the portfolio on top 10 securities. This tends to produce more volatility compared to a diversified fund. See fund top 10 holdings.
• California Investment CA Tax-Free Inc Fund (CFNTX) has a less-than-ideal short-term performance (1-year return 5.48% vs 6.78% Muni California Interm/Short category average)
• California Investment CA Tax-Free Inc Fund (CFNTX) has a less-than-ideal Long-term performance (5-year return 2.90% vs 3.02% Muni California Interm/Short category average)
• California Investment CA Tax-Free Inc Fund (CFNTX) has a Morningstar rating of 3 and below
• California Investment CA Tax-Free Inc Fund (CFNTX) is less safe compared to its Muni California Interm/Short peers
• California Investment CA Tax-Free Inc Fund (CFNTX) does not have a good risk adjusted return as its 3-year Alpha of -1.04 is worse than category average of -0.68, and its 3-year Sharpe ratio is 0.27
• California Investment CA Tax-Free Inc Fund (CFNTX) is more volatile than its peers as it has a 3-year Standard Deviation of 5.57 that is higher than category average of 5.03

See California Investment CA Tax-Free Inc Fund (CFNTX) performance details as of January 31, 2010

  

  

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California Investment CA Tax-Free Inc Fund (CFNTX) Net Asset

Track net asset change of California Investment CA Tax-Free Inc fund (CFNTX)

Date	Net Asset
01/2010	$107.50M
11/2009	$107.79M
10/2009	$107.47M

More historic net asset information on California Investment CA Tax-Free Inc Fund (CFNTX)

  

California Investment CA Tax-Free Inc Fund (CFNTX) Portfolio Allocation

Track portfolio allocation change of California Investment CA Tax-Free Inc fund (CFNTX)

Date	Cash	Stock	Bond	Other
10/2009	2.98%	0%	97.02%	0%
09/2009	2.93%	0%	97.07%	0%
07/2009	4.04%	0%	95.96%	0%

Click here to see more historic asset allocation information on California Investment CA Tax-Free Inc Fund (CFNTX)

  

Most Recent Top 10 Holdings in California Investment CA Tax-Free Inc Fund (CFNTX)

Discover what California Investment CA Tax-Free Inc Fund (CFNTX) manager is buying

31-Oct-09 Southern Calif Pub Pwr Auth 6.75% [3.94%] Los Angeles Calif Cmnty Redev Rev Bds 5% [3.8%] California St Go Ref Bd 5% [3.71%] East Side Un High Sch Dist 5.25% [3.12%] Riverside Cnty Palm Desert Cal Lease 6% [3.04%] California Edl Facs Auth 5% [3.01%] Univ Calif Revs Ltd Proj 5% [2.94%] Newport Beach Calif Rev Rev Bds 4.625% [2.78%] Kern Calif High Sch Dist 5% [2.78%] LOS ANGELES CALIF UNI SCH DIST G.O. BDS [2.66%]

30-Sep-09 Southern Calif Pub Pwr Auth 6.75% [3.9%] California St Go Ref Bd 5% [3.81%] Los Angeles Calif Cmnty Redev Rev Bds 5% [3.79%] East Side Un High Sch Dist 5.25% [3.21%] Riverside Cnty Palm Desert Cal Lease 6% [3.07%] California Edl Facs Auth 5% [3.04%] Univ Calif Revs Ltd Proj 5% [3.02%] Newport Beach Calif Rev Rev Bds 4.625% [2.83%] Kern Calif High Sch Dist 5% [2.81%] California St Go Bds 5% [2.76%]

31-Jul-09 Southern Calif Pub Pwr Auth 6.75% [4.02%] California St Go Ref Bd 5% [3.74%] Los Angeles Calif Cmnty Redev Rev Bds 5% [3.65%] Riverside Cnty Palm Desert Cal Lease 6% [3.01%] East Side Un High Sch Dist 5.25% [2.97%] California Edl Facs Auth 5% [2.96%] Univ Calif Revs Ltd Proj 5% [2.94%] Newport Beach Calif Rev Rev Bds 4.625% [2.79%] KERN CALIF HIGH SCH DIST GO BDS [2.78%] Los Angeles Calif Uni Sch Dist 6% [2.66%]

Click here for Stock Holding Change Map in California Investment CA Tax-Free Inc Fund (CFNTX)

  

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See more information on California Investment CA Tax-Free Inc Fund (CFNTX)

• California Investment CA Tax-Free Inc Fund Insights
• California Investment CA Tax-Free Inc Fund Performance Data
• California Investment CA Tax-Free Inc Fund News
• California Investment CA Tax-Free Inc Fund Score Explaination
• California Investment CA Tax-Free Inc Fund Manager Information
• Historic California Investment CA Tax-Free Inc Fund Asset Allocation Report
• Historic California Investment CA Tax-Free Inc Fund Top 10 Holding Tracking
• Historic California Investment CA Tax-Free Inc Fund Asset Under Management Tracking