Michael Jones – The "Category King"

Casting For Value

Dennis Delafield

Michael Jones

Michael Jones grew up in Pennsylvania playing basketball and dreaming of becoming an optometrist. He majored in biology and psychology at the University of Rochester, where he graduated in 1976. After working briefly as a real estate broker for his father-in-law, Jones took a job as an analyst with Manning & Napier in 1979. His background in science and genetics was attractive to them. Five years later, he left to start his own investment firm named Clover Capital. While he once served as many as 400 clients, Jones now serves just 20 client families. He still likes to meet with his clients and finds it satisfying to make an investment decision and then put it to work for them in a meaningful way. That direct connection keeps him coming back to his desk. Jones believes that if you can’t attach real client faces to what you are trying to accomplish, then it becomes just a game.

Michael Jones mission hasn’t changed much since he started in the investment business. He tries to bring his very best effort to managing money in a reasonable way. He totally embraces the value philosophy and believes it is the best way to achieve results that are consistently superior to his peer group. He and his team have faced many difficult tests over the last 30 years. He remembers losing some clients who got caught up in the technology boom of 1999. They didn’t have the patience for a value style manager who refused to pay such astronomical valuations for dot-com companies. While his fund performance lagged during the boom years of 1999 and 2000, their results were very strong during the bear market period of 2001-2003.

Jones recreational interests include tennis, hunting and fishing. He loves to be outdoors and believes that standing in running water while he is fly-fishing is a great way to calm the soul.

Michael Jones’ Scorecard

These five criteria contribute to the selection process which helped us to choose Michael Jones as one of our select group of Money Masters.

1 Manager Tenure Check!
2 Performance Results Check!
3 Style Consistency Check!
4 Regulatory Compliance Check!
5 Availability Check!

The fund we are investing in to gain access to Money Master Michael Jones is:

Fund Name: Touchstone Value Opportunities
Fund Symbol: CCEVX
Fund Summary:

The Fund seeks long-term capital appreciation by primarily investing in stock of US companies with large, medium, and small market capitalizations. These companies are believed to possess attractive long-term total return potential due to their lower than average valuations and improving fundamental business outlooks.

Clover Capital Management Funds
  • Founded in 1984, by Michael Jones
  • Clover Capital management manages $2.7 billion in assets.
  • Clover’s mission hasn’t changed in its 23 years history. “Our philosophy is to bring the best we can bring to managing money in a reasonable way. We embrace the value philosophy. That’s the best way to get things done over a long period of time.”
  • Also manages portfolios for Morgan Stanley, Wachovia, and the Bill and Melinda Gates Foundation
  • Wall Street Journal awarded CCEVX the title of “Category King” among its Multi-Cap Value peers, based on total returns for the past year. (May 9, 2008)

* Notes: The 10-year average return shown for CCEVX is for the 10-year period 01/01/98 - 12/31/07. The average was calculated by adding the results for the 10 consecutive calendar years shown and dividing that result by 10.

The 10-year average return and 10 individual annual performance results are shown with all dividends and gains reinvested and are net of all fund fees. All fund expenses have already been deducted from the percentage results shown.

Source for Calendar year results: Zephyr StyleADVISOR.

Past performance is no guarantee of future results. Actual future results will vary.

The Retirement Corporation of America (RCA) is under no obligation to use featured managers or funds and will change managers should they fail to meet our selection criteria.

Information pertaining to RCA's advisory operations, services and fees is set forth in RCA's current disclosure statement (copy available upon request from RCA).