2011年共同基金业五虎

Mainstay Epoch全球股票收益基金

    基金经理：比尔•普利斯特、艾瑞克•萨彭菲尔德和迈克•沃尔豪特

    交易代码：EPSYX

    资产规模： 10亿美元

    今年迄今回报率：4.5%

    世界股票平均回报率：-5.4%

    目前看好的投资：雀巢（Nestlé）

    3.6%的股息收益率、现金流增长强劲以及负债规模收缩使得这家食品巨头成为Mainstay Epoch全球股票收益基金的核心持股。

    对于49岁的艾瑞克•萨彭菲尔德来说，每周开始的方式都是一样的。周一上午7点半，他纽约办公室的一台电脑开始在全球14,000多只股票中进行搜索，分析它们的股息和现金流。然后，萨彭菲尔德和他的联席经理们会对搜索得到的约200只股票仔细筛选，挑出几只他们认为年度回报率有望达到9%的股票。今年，基金持仓股中表现最好的股票包括烟草公司Lorillard和雷诺美国公司（Reynolds American），今年一季度基金还增持了长期持有的这两只股票。此外，基金经理们还投资了天然气业主有限合伙公司Williams Partners，该股今年至11月份已上涨了31%。

Mainstay Epoch Global Equity Yield

    Managers: Bill Priest, Eric Sappenfield, and Mike Welhoelter

    Ticker: EPSYX

    Assets: $1 billion

    Year-to-date return: 4.5%

    World stock average: -5.4%

    What they like now: Nestlé

    Its 3.6% dividend yield, robust cash-flow growth, and shrinking debt make the food giant a core holding for the fund.

    Every week begins the same way for 49-year-old Eric Sappenfield. At 7:30 a.m. on Monday, a computer in his New York office sorts through 14,000 stocks around the globe, analyzing their dividends and cash flow. Sappenfield and his co-managers then sift through the 200 or so companies that pass the screen, searching for a handful that they believe will produce a 9% annual return. This year the fund's top performers included high-yielding tobacco companies Lorillard and Reynolds American, long-term holdings that they increased in the first quarter. The managers also invested in Williams Partners, a natural-gas master limited partnership, which had risen 31% this year through November.