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© St. Petersburg Times, published September 9, 2002
Call it another sign of the stock market's sad state:
Three St. Petersburg mutual fund managers made Barron's prestigious list of the "Top 100 Fund Managers" -- and not one of them made a dime for his shareholders. So how did they rate the honor? Their competition performed even worse.
Todd McCallister, manager of the Heritage Mid Cap Stock Fund, had the best investment results of the local bunch, although Bert Boksen, manager of the Heritage Aggressive Growth Fund, ranked higher in Barron's rating system.
The selection process began with an initial screen of 6,000 stock funds. The investment newspaper rated the managers against their peers for the 12 months ending June 30, based on volatility and performance.
McCallister's mid cap fund lost 4.44 percent, net of sales charges, over the period but would have had a 0.33 percent gain without them. Boksen's aggressive growth fund was down 10.42 percent after sales charges, losing 5.95 percent before they were subtracted.
Also making the list: Ashi Parikh, manager of Heritage Growth Equity Fund, which was down 26.89 percent, or a loss of 23.25 percent without sales charges. In addition, Barron's gave a thumbs-up to Rudolph-Riad Younes, who became co-manager of Heritage International Equity Fund on July 1. Younes, who lives in New York, earned his kudos managing the Julius Baer International Equity Fund, which was up a little less than 2 percent over the period.
The Heritage Funds are run by a subsidiary of St. Petersburg's Raymond James Financial Inc.