A Fund Manager Is Born

Randall Eley ranked No. 1 on the "A" list of all U.S. equity managers last year, but can he duplicate that stellar performance managing Eugene Profit's new mutual fund?:

with Eley at the helm now seemed like the perfect product. “Randall’s an orator, and the minute he starts talking about stocks, the room, no matter how many people are around, stands still,” Profit says. One instance where Eley’s public speaking skills came to play was at a Memorial Day barbecue Profit organized to put Eley and potential investors in contact. Mid-afternoon, Eley began talking over his investment background and views with a few African American doctors Profit had targeted for venture capital. But what had been set up as a private chat soon drew an audience. “It was like the old E.F. Hutton commercials Randall started talking and people stood still–others started crowding the room,” says Michael Simmons, who runs publicity for the fund.

With that kind of captivating persona leading Profit Lomax, and solid results to sell the fund, Eugene Profit’s sales excursions should get easier over time. “He’s real gungho and has boundless energy,” says Eley. “And I can appreciate what he’s going through because that’s exactly what I had to do when I started off.”

A minimum investment of $2,500 is required to invest in the Profit Lomax
Value Fund (888-335-6629). The minimum investment for an individual retirement account is $1,000.
Randall R. Eley:
Born: 1952
Education: Yale University (B.A. 1974)
University of Chicago Law School (J.D. 1977) Professional experience: Bond lawyer, Kutak Rock law
firm, Omaha, Nebraska, 1974-86
Current: President, chief investment officer and chairman of the board of the Edgar Lomax Co.,
Springfield, Virginia, since 1986; married, four children
Eugene A. Profit:
Born: 1964
Education: Yale University (B.A. 1986)
Professional experience: Cornerback, National Football League, New England Patriots and Washington
Redskins, 1986-91; Credit analyst, Chase Manhattan
Banks, New York City, 1986; Investment executive, Legg Mason Wood Walker, 1944-96
Current: Investor Resources Group, Chevy Chase, Maryland, founder and manager, 1996; Profit Funds Investment Trust, president; married, one child
Randall Eley not only beat the S&P 500…
3-year annualized return as of 12/31/96
ELEY 23.0%
S&P 500 19.7%
5-year annualized return as of 12/31/96
ELEY 20.3%
S&P 500 15.2%
He beat these top-rated mutual funds as well.
3-year annualized return
Vanguard Windsor 18%
Mutual Shares 17.7%
Fidelity Growth & Income 18.5%
Homestead Value 17.4%
5-year annualized return
Vanguard Windsor 18%
Mutual Shares 19.1%
Fidelity Growth & Income 17.2%
Homestead Value 16.5%
Source: Morningstar Inc. and Edgar Lomax Company

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