Arthur Bonnel stepped down June 1 as head of the Bonnel Growth Fund, handing over the reins to Frank Holmes. Now, the $75 million fund is appropriately named Holmes Growth, Investor's Business Daily reports.
The U.S. Global accolade fund will still go after stocks with good revenue and earnings growth, Holmes said, but he will not strictly apply the CAN SLIM-style, because he must "find enough stocks."
The criteria of CAN SLIM, which refers to the seeking of stocks with earnings and sales growth as well as institutional support and strong relative price strength, is met by only seven of the fund's 90 holdings. Still, Holmes takes the "M" in CAN SLIM most seriously - that "M" standing for market direction.
As of Thursday, June 17, the fund was up 4.11%, well above its peers' average in the mid-cap growth sector, which was 2.25%.
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