FBR Balanced Fund (AFSAX)

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As part of Best Moderate Allocation Balanced Fund, FBR Balanced Fund has consistently outperformed many of its peer funds. This article will provide the fund’s review and details such as fund’s objective, yield, top holdings, net assets, and more. Details about the fund can be found below.

FBR Balanced Fund (MUTF: AFSAX)

The FBR Balanced Fund’s objective is to provide long-term capital growth and current income. This moderate allocation mutual fund invests in a blend of domestic common stocks, preferred stocks, convertible bonds, high quality domestic corporate, agency, and government bonds. It may also invest in mortgage-backed securities, asset-backed securities and Yankee bonds. The fund may invest < 10% of assets in high yield bonds or junk bonds.

Fund Details
FBR Balanced Fund details
  • Fund Inception Date: September 24, 2001
  • Ticker Symbol: AFSAX (Investor Class)
  • CUSIP: 30246J653 
  • Beta (3yr): 0.86
  • Rank in category (YTD): 1%
  • Category: Moderate Allocation
  • Distribution: 1.73%
  • Net Assets: $ 211 million
  • Sales Load: 0.0%
  • Expense Ratio: 1.24%
  • Capital Gains:  N/A
  • Number of Years Up: 7 years
  • Number of Years Down: 2 years
Updated on 06/2/2012

This FBR Balanced Investor fund was introduced to public in September 2001. This fund has been managed by Jonathan T. Moody since 2007. The Institutional Class of this fund (AFBAX) was introduced to public earlier in June 1997 and the current fund’s manager is Gary B. Cloud. The AFSAX fund requires a minimum of $2,000 to open a brokerage account in this fund and $1,000 for IRA account, with no minimum subsequent investment.

This moderate allocation fund is a no-load fund, therefore it doesn’t have any front-end sales load fee. It has a 12b1 fee of 0.25%. The last dividend distributed in June 2011 ($0.07). The fund’s dividend yield is 2.46%. This best balanced fund also has 1.24% annual expense ratio. The fund has total net assets of 494.02 million.

You can buy this top rated balanced mutual fund from 76 brokerages such as Schwab Retail, JP Morgan, TD Ameritrade Inc, Firstrade, E Trade Financial, Ameriprise Brokerage, Vanguard NTF, etc. The fund uses S&P 500 Index as the fund’s benchmark.

AFSAX has returned 14.93% over the past one year, 5.30% over the past three years and 5.83% over the past decade. The ratio of up compared to down years in term of return performance is 7:2. In 2003, this top fund has its best 1-year total return with 26.08% total return. The YTD return of this fund is 5.12%.

As of June 2011, the top 10 holdings of this FBR fund represent 27.1% of the total portfolio. They are NewMarket Corp. (3.2%), U.S. Treasury Note/Bond, 5.0% - 15/May/2037 (3.1%), Dominion Resources, Inc. (2.8%), ConocoPhillips (2.8%), Chevron Corp. (2.6%), Microsoft Corp. (2.6%), Wells Fargo & Co. (2.6%), The Coca-Cola Co. (2.5%) and Verizon Communications, Inc. (2.5%). The top sector allocations are Consumer Non-Cyclical (32.1%), Technology (12.7%), Basic Materials (12.1%) and Financials (11.0%).

The risks related to principal investment strategies of this best moderate allocation FBR Balanced fund are Market Risks, Equity Investments Risk, Debt Investment Risk, Foreign Investment Risk, High Yield Investment Risk, IPO Investment Risk, Mortgage-Backed and Asset-Backed Securities Investment Risk and Temporary Defensive Positions Risk. More details on fund's prospectus.

Disclosure: No Position

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