2012 will mark the FAM Value Fund’s 25th Anniversary! It was launched in 1987 – a year of many interesting events. They included:
- Beatles albums were first released on compact discs.
- Microsoft released Windows 2.0.
- “Bobro 400,” a barge carrying 3,200 tons of garbage, sailed from NY Harbor on an unsuccessful 6,000 mile search for a dumping site.
- The last NFL players’ strike occurred.
- Digging began to link England and France via the Channel Tunnel.
- Ben & Jerry’s Ice Cream and the Grateful Dead’s Jerry Garcia announced a new flavor – Cherry Garcia.
- The Dow Jones Industrial Average closed above 2,000 points for the first time in January. Then, on October 19th, it dropped a record 22% in one day.
FAM Value Fund was established just before the1987 stock market crash. Since then, and despite experiencing various market conditions, its inception-to-date performance is 10.34% (as of 6/30/11). During that same time, the S&P 500 Index returned 9.62%. Our investment process has proven to be successful over the long run and so have our portfolio managers. Tom Putnam has managed the Fund since 1987 and John Fox joined the team in 1996. This is pretty impressive considering the average tenure for a mutual fund manager is 4.9 years!