We really have a diversified portfolio of cheap stocks with improving fundamentals, ... That's really our mantra of the fund, and we want to make sure that we're participating in all segments of the market so that we can give our investors consistent returns over the long run.

Also, the fund has become more diversified, where it was once almost solely pharmas and biotechnology.

The concentration of stocks is concerning. An active fund manager would not put a portfolio together simply based on how big a company is or how big a portion of the index it represents. I would prefer to invest with a manager with a high degree of conviction in what they think are the best opportunities for growth.

Often, there are 30 or 40 stocks in the portfolio, and the (trading) turnover is fairly rapid.

I sell these intermediate bond portfolios for people that can't go to stocks.

It's a fairly risky fund, but if you want to buy the stocks of the Nasdaq 100, that's a way to do it.