Stephen Schurr

Fund Picks for 2004

 

Among mutual funds, three great offerings are the (VGENX)Vanguard Energy fund, the (PNRZX)Jennison Natural Resources fund and the (PRNEX)T. Rowe Price New Era fund. There are two solid ETF picks as well: The Energy Select Sector SPDR(XLE) is the cheapest offering with a 0.27% expense ratio, and the iShares S&P Global Energy Sector Index Fund(IXC) costs a bit more (0.65%) but offers global diversification.

Turkey

The nation that straddles East and West literally and figuratively has been a great performer in the past year, and may continue to blossom as the secular Islamic nation moves closer to entry in to the European Union. In a recent Fortune magazine, the stellar Julius Baer International Equity manager, Rudolph-Riad Younes, suggested the Turkish Investment Fund(TKF), a Turkey-focused closed-end fund that trades on the Big Board under the symbol TKF, as a top pick for 2004. The fund soared 167% in 2003, and may have room to grow even more. Of course, it's a bet that carries risk, so investors should tread carefully.

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