What if a sector fund were run by the best guy at the firm rather than the rookies? What if a mutual fund house thought that sector investing was so important that it put the top stock-pickers on the funds, rather than the guys it is trying to groom for bigger and better things?
Well, then, I guess you would be talking about
Turner Investment Partners
, the innovative folks from Berwyn, Penn., who maintain the kind of rigor across all funds that used to be what you could expect from bigger fund families.
Technology, Financial Services (TFFIX), Energy (M$-FFAA) and Healthcare & Biotechnology (M$-FEID) sector funds and each is run by the senior sector research analyst at the shop. So if you want to be in the Turner Healthcare & Biotechnology fund, the one area that I think best fits sector investing, you are getting with Frank Susteric, the senior health care analyst at the firm who has picked stocks in the sector for 14 years. He also runs the
Turner Micro Cap Growth fund, which as of March of this year is the No. 1-performing micro-cap growth fund in the
Morningstar small-cap growth universe.
And why do they do it this way? Because they think the client is better served. The Turner folks tell me they recognize that the industry is using the individual investor's money -- rather than their own --
to train future portfolio managers. They know that's not the way to go. I've always liked the Turner fund family. Here's one more reason why they are doing things the right way, the way of the client.
Biotech fest coming up. Are you going to be there? We can learn something together about this group that has so many interesting stocks in it, especially in an environment where economic growth is as uncertain as this one.
James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column to