{"id":370,"date":"2011-06-17T09:43:24","date_gmt":"2011-06-17T16:43:24","guid":{"rendered":"http:\/\/risk-adjusted.com\/wordpress\/?page_id=370"},"modified":"2019-01-29T14:29:08","modified_gmt":"2019-01-29T22:29:08","slug":"20-years-of-5-star-management","status":"publish","type":"page","link":"http:\/\/risk-adjusted.com\/wordpress\/performance-awards\/20-years-of-5-star-management\/","title":{"rendered":"20 Years of 5 Star Management"},"content":{"rendered":"

SCI Completed\u00a020 Years of Morningstar Rated 5-Star Management<\/h2>\n

Our President, B. Clark Stamper was the Portfolio Manager of the Wells Fargo Strategic Municipal Bond Fund for just over 20 years – from June 14, 1990 through July 11, 2010, first as an Employee of Davis Advisers (previously named Venture Advisers) until July 1995 when the sub-advisery management contract of The Fund was transferred to Stamper Capital & Investments, Inc. upon its founding.<\/p>\n

Using our upside potential, downside protection risk-adjusted management strategy The Fund (Wells Fargo Strategic Municipal Bond Fund, previously named Evergreen Strategic Municipal Bond Fund, previously named Evergreen High Income Municipal Bond Fund, previously named Davis Tax-Free High High Income Fund, previously named Venture High Income Muni, previously named Venture Muni Plus (+)) earned Morningstar’s highest risk-adjusted Five-Star Rating many times including the ten years ending June 2000 and the ten years ending June 2010 – so five stars for two contiguous ten year periods.\u00a0 See the table below for an example.<\/p>\n\n\n\n\t\n\t\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t
Fund Name(at the time)<\/th>Period<\/th>Ending<\/th>Category<\/th>Star Rating(5 max)<\/th>Number of Competitors<\/th>\n\t<\/tr>\n<\/thead>\n
Davis Tax-Free High Income B<\/td>5 Years<\/td>12\/31\/1996<\/td>Municipal<\/td>\"5<\/a><\/td>580<\/td>\n\t<\/tr>\n\t
Evergreen High Income Municipal Bond Fund I<\/td>10 Years<\/td>12\/31\/2000
\r\n<\/td>		Muni National Short<\/td>\"5<\/a><\/td>16<\/td>\n\t<\/tr>\n\t
Evergreen Strategic Municipal Bond Fund I<\/td>10 Years<\/td>4\/30\/2001<\/td>Muni National Short<\/td>\"5<\/a><\/td>27<\/td>\n\t<\/tr>\n\t
Wells Fargo Advantage Strategic Municipal Bond Fund I<\/td>10 Years<\/td>6\/30\/2010<\/td>Muni National Short<\/td>\"5<\/a><\/td>42<\/td>\n\t<\/tr>\n<\/tbody>\n<\/table>\n\n

Note the number of competitors in the table dropped as Morningstar added the short term municipal bond fund category to which The Fund was moved.\u00a0 Previously, all municipal bond funds had been in the same general muncipal bond fund category.\u00a0 Also, note that few funds had such long lives as essentially all One and Two star risk-adjusted rated funds (Morningstar Risk-adjusted Rating) are closed or merged away due to their poor track records.\u00a0 This “survivorship bias” means that those survivors generally have performed even better than reported since Morningstar does not include performance of any funds that no longer exist at the end of the period being reported.\u00a0 Accordingly, there are many more funds rated in the shorter time periods (three and five years).\u00a0 We are proud that The Fund also earned five star risk-adjusted ratings in shorter periods (three and five years) during most of the periods during Clark’s twenty year portfolio management of The Fund.<\/p>\n

Stamper Capital & Investments no longer has a sub-advisery contract to manage the Evergreen Strategic Municipal Bond Fund, as the management contract ended July 11th, 2010 when Wells Fargo brought its management in house after it had acquired Evergreen Funds, a subsidary of Wachovia, which was merged into it following the Financial Crash.<\/p>\n

Also, you may be interested in the following article on the same topic:\u00a0 An in-depth performance review of portfolio manager Clark Stamper\u2019s 20 year record\u00a0as\u00a0mutual fund manager.\u00a0 This article shows that Stamper was able to have one of the longest tenures managing a municipal bond fund – for over 20 years in the industry all while producing superior risk-adjusted returns over 20 years (ending 6\/30\/2010), when compared to the competition.\u00a0 Read:\u00a0 Clark Stamper Completes a Superior 20-Year Run Managing the Former Evergreen Strategic Municipal Bond Fund<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SCI Completed\u00a020 Years of Morningstar Rated 5-Star Management Our President, B. Clark Stamper was the Portfolio Manager of the Wells Fargo Strategic Municipal Bond Fund for just over 20 years – from June 14, 1990 through July 11, 2010, first … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":57,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"page-altleft.php","meta":{"footnotes":""},"class_list":["post-370","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"http:\/\/risk-adjusted.com\/wordpress\/wp-json\/wp\/v2\/pages\/370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/risk-adjusted.com\/wordpress\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/risk-adjusted.com\/wordpress\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/risk-adjusted.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/risk-adjusted.com\/wordpress\/wp-json\/wp\/v2\/comments?post=370"}],"version-history":[{"count":19,"href":"http:\/\/risk-adjusted.com\/wordpress\/wp-json\/wp\/v2\/pages\/370\/revisions"}],"predecessor-version":[{"id":1256,"href":"http:\/\/risk-adjusted.com\/wordpress\/wp-json\/wp\/v2\/pages\/370\/revisions\/1256"}],"up":[{"embeddable":true,"href":"http:\/\/risk-adjusted.com\/wordpress\/wp-json\/wp\/v2\/pages\/57"}],"wp:attachment":[{"href":"http:\/\/risk-adjusted.com\/wordpress\/wp-json\/wp\/v2\/media?parent=370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}