What makes the Masters Select Funds distinctive?
• The skill of the sub-advisors; • The mandate that each sub-advisor run a concentrated sub-portfolio of only their highest conviction ideas; • The inherent diversification that comes from a multi-manager approach; • Litman/Gregorys responsibility for due diligence, monitoring and overall operations of the funds; and, • The willingness of Litman/Gregory to limit assets to levels that preserve the managers ability to own only their highest-conviction names. Why does Litman/Gregory believe concentrated portfolios can deliver better long-term performance? First, it is worth noting that we dont believe that all stock pickers are able to add value through concentrated investing. We also dont believe concentration will result in higher returns in all time periods. However, for skilled, high-conviction stock pickers, we believe there is the potential to deliver higher returns over the long run with a concentrated portfolio. Over the years weve interviewed hundreds of stock pickers and have co
