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Buying When It's 'Silly Cheap'
ABN AMRO Mid Cap Fund
Interview with: Thyra E. Zerhusen

Author: Dave Jennings
Last Update: , :
Keeping up with Thyra Zerhusen, who heads ABN AMRO's Mid Cap Fund, would tire even the most energetic fund analyst. That energy, plus 25 years of experience in analyzing company fundamentals in the mid-cap area, has kept the fund consistently within the top 15% of mid-cap blend products. The five-year average annual was 9.81% as of June 18, 2003.

ABN AMRO Mid Cap Fund

A: Mid cap is a really interesting space. You get the best opportunities. You have more experienced management in mid-cap companies when you compare them to small cap. You have better liquidity, so you don't have to worry about doing style drifting. You say you're small cap but you're drifting into mid cap because you can't put all the money into these smaller companies. Then, versus large companies, you have lower PEs, better growth rates and what's really important to me is you have access to management. It gives you an additional dimension. You can determine whether to trust these people. Do they appear to be honest? Are they sort of just big picture guys? And, the whole space is less efficient, because you have fewer Wall Street people following these companies. Maybe they don't see big corporate finance business there. I had one stock in the portfolio for six months that had no Wall Street coverage. Then lo and behold, in January, the company was being merged. Another company picked up on the under valuation.

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