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05.20.2010 / Posting by David Jordan, CFA, Portfolio Manager, Tributary Capital Management.

Although value lead growth in the first quarter, mid-cap stocks lead the growth category with a 7.7 percent return, another quarter of better than average performance. The Growth Opportunities Fund was up by 8.90 percent in the first three months of the year. That placed it among the top 10 percent of the Mid-Growth category according to Morningstar for the year to date period.

"The Balanced Fund also moved up to five stars overall, and five stars for the past ten years in the Morningstar ratings."

Stocks in the telecommunications, consumer discretionary and materials sectors made major contributions to the strong relative performance. Top individual performers included Netflix, Aeropostale and Valeant. The Balanced Fund also had a great first quarter, rising 6.58% during the three month period, ranking it among the top 2% of balanced funds as tracked by Morningstar for the year to date. The Balanced Fund also moved up to five stars overall, and five stars for the past ten years in the Morningstar ratings. As the market advance matures your fund manager has begun to pare back the allocation to stocks in the Balanced Fund.

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Comments are provided as general market commentary and should not be considered investment advice or predictive of any future market performance.  Past performance does not guarantee future results.

Investments are: Not FDIC Insured • May Go Down in Value • Not a Deposit • Not Guaranteed By the Bank • Not Insured By Any Federal Government Agency

Posted at 11:28 AM | Permalink
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