NEW YORK (TheStreet Ratings) -- TheStreet.com Ratings initiated coverage of 11 stock mutual funds that accrued a sufficient track record of risk and performance data by the end of May 2012. Two stock mutual funds start out in the 'Buy' range.
Seven additional unique funds begin at 'Hold'. Two stock mutual funds begin at 'Sell' with grades of D+ or worse after underperforming alternative stock mutual fund investments over the past three years on a risk-adjusted return basis.
Here are the two newly rated stock mutual funds ranked at 'Buy':
2. Putnam Equity Spectrum APutnam Equity Spectrum A (PYSAX) has an investment objective to seek capital appreciation. The fund invests a majority of its assets in equity securities of small and midsized leveraged U.S. companies that have favorable investment potential including both growth and value stocks. The fund invests at least 80% of its net assets in equity investments and may also invest in foreign securities including emerging market securities. The fund may also invest in fixed income securities, use derivatives and engage in short sales of securities. Expense Ratio: 1.81% Three Year Total Return: 24.9% Rated "B" by TheStreet Ratings:
1. Putnam Capital Spectrum Fund APutnam Capital Spectrum Fund A (PVSAX) has an investment objective to seek total return. The fund invest mainly in equity and fixed income securities, including bank loans, of leveraged U.S. companies that have favorable investment potential. The fund invests mainly in small and midsized leveraged companies, although it can invest in companies of any size. The fund may also invest in fixed income securities of other issuers, including mortgage-backed and other asset-backed securities, as well as foreign securities including emerging market securities and derivatives. Expense Ratio: 1.50% Three Year Total Return: 21.8% Rated "A+" by TheStreet Ratings:
7. Nuveen Winslow Large Cap Growth ANuveen Winslow Large Cap Growth A (NWCAX) has an investment to provide long-term capital appreciation. To achieve its investment goal, the fund may invest at least 80% of its net assets in equity securities of U.S. companies with market capitalizations in excess of $4 billion. The fund may invest up to 20% of its net assets in non-U.S. equity securities. The fund selects securities based on fundamental bottom-up investment research combined with attention to valuation. Expense Ratio: 1.18% Three Year Total Return: 14.4% Rated "C-" by TheStreet Ratings:
6. Ivy Tax-Managed Equity AIvy Tax-Managed Equity A (IYEAX) has an investment objective to provide long-term growth of capital while minimizing taxable gains and income to shareholders. The fund invests at least 80% of its net assets in equity securities, primarily common stocks and securities convertible into common stocks. The fund typically invests in the common stocks in companies of any size, any industry or any country in order to achieve its objective. The fund utilizes a bottom-up research strategy to identify its investments.
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