OCR Text |
Show I'atcD-- IHI l XI Hl-- I l. Pnw, fiJi. Sunda. Aueu-- l 3. IW7 Analysts: Growth and income! funds group Chocolate matters fake a bite of the market best-performi- ng B I U hi s.in 1)Y I I UiUKii WAKA I MUTUAL FUND NEWS SERVICE jminer The FRANCISCO scent of freshly ground cocoa beans permeates the air of an industrial Mock in South San Francisco, courtesy of Scharffen the Berber Chocolate Maker latest entry in the Hay Area's renowned chocolate industry. Like See's Candies, also based in South San Francisco, "Growth and incom funds are relatively conservative in theii goals but they don't have to be stodgy in their methods." SAN" :i I m m J j . I r - - . TLB Jl 1 - A. mmmmk and Ghirardelli, Scharffen Merger aims to make a name for itself by producing grades of the dark, for use by pasconfection silky try chefs at exclusive restaurants, hotels and bakeries across the country. world-famou- s high-qualit- BAY, CA. BODEGA Growth and income funds, the best selling fund group in the 1990s, were the of all managed general equity funds in both the six and 12 months to June 30, Lipper Analytical Services figures show. In fact, except only for the surging S&P index funds and the specialized financial services funds, they beat every other domestic category. With $450 billion invested in them their average gain of 15.5 percent for the half-yea- r and 28.1 percent for the 12 months has cheered millions of shareholders. Growth and income funds are traditionally bought by those who want to participate fully in any broad stock market mwmmmmmmmwmmsi. v" wmmmmmmk y Gourmet market John fact. Scharffenberger. of his namesake firm, believes there's a void in the high-enbaker's chocolate market. He noted that since gourmet foods like coffee have taken off. the time seems right to introduce a new, upscale baking product. Thirty years ago, everyone .e Wonder Bread and drank tap water." Scharffenberger said, implying how times have changed "No one ate unsalted butter." And Scharffenberger knows about cutting-edgtrends. In founded he 1981, Cellars, a Scharffenberger Mendocino sparkling wine company modeled on the great European champagne houses. "There are parallels between champagne and chocolate," Scharffenberger said, referring to the time and care required to make subtle, fine grades of those products. In d e Scharffenberger is born But it wasn't until a few after he'd sold his years ago interests in the winery to a that French conglomerate Scharffenberger realized there was room for another high-enchocolate manufacturer. d KATV RADII l Chocolate makers: Robert Steinberg, left, and John Scharffenberger hold some of the raw front of the coca bean roaster in San Francisco, June 26. to start Scharffen Berger with a capital investment of about half a million dollars, and set up shop in a His doctor, Robert Steinberg, knew how to make chocolate and had extolled its virtues to Scharffenberger. Steinberg had worked for a time at 5,000-square-fo- South San Francisco warehouse at the beginning of the renowned Bernachon, French chocolate house, during the early '90s shortly after he had been diagnosed with the year. From start to finish The company, which industry watchers say is the first to be founded in the United States since at least World War II, makes its chocolate from start to finish. First, it imports beans from a number of countries, including Venezuela, Ghana, Brazil, Trinidad and apua New Guinea. Once in South San Francisco, the cocoa beans are hulled and ground to a paste- lymphoma. The cancer "made me say, 'What am I doing? Am I living " my life as creatively as I can?' recalled. Steinberg "For me the attraction is something I can do that I really feel good about," he said. "And it's something very difficult to do. It's a combination of understanding the product from a scientific standpoint, but also creating something by using my taste buds." So last year, the two decided like consistency in imported Swiss and German chocolate . The the in mills from the '30s and '50s. Then the paste is spread in block molds and refrigerated on the premises. While many higher-enchocolate makers use four to six cocoa beans, Scharffen Berger has blended eight. "It's a question of going back to the basic ingredients," said Steinberg. "The thing that counts is what you start with." lio The law firm of Thorpe, North & Western, L L P., has been identified in a national lega' publication as the highest ranking law firm in the Intermountain Area in terms of the number of Federal Trademark Registrations obtained for clients. This is the second year in a row the firm has held this ranking, which was compiled by the "Intellectual Property Today" magazine. Western, income L.L.P. has offices in Sandy, Logan and Las Vegas. The firm U.S. in and specializes International patents, trade- rowers. Thorpe, North & d Available this month The company will make about 120,000 pounds of chocolate a a small amount by year and will standards industry begin selling its product wholesale in August. The price, the proprietors said, will be competitive with European brands such as Valrhona and Callebaute at $5 to $5.25 per pound. First marks and related matters. in with Orem, eight offices serving Utah and Wyoming. Barbara Hughes, born and raised in Utah County, has left a career of banking to join the team of ERA Mountain Land Realty in Pleasant Grove. i is rs X MH Jed Hanson Lena Seng Barbara Hughes First Medical Urgent Care Center has moved to 1675 N. The U.S. Department of Urban and Housing (HUD) recently Development First Colony recognized Mortgage Corp. "for its ongoing commitment to fair and equal home ownership opportunities for all." First Colony Mortgage recently joined HUD in a fair lending-bes- t practices agreement, formalizing its strong commitment to provide fair lending options to al, including minority and low 't4 200 West, Suite 3A (Village Green), Provo, and is extending its hours of operation by providcare. They have ing afler-hour- s also opened a new location at 2854 W. 4700 South, Suite B, in West Valley City. They are committed to provide the area with affordable and convenient alternative to the E.R. First Medical is designed to handle all types of medical needs: walk-infamily medicine, industrial medicine and urgent after hours care. Lena Seng recently became the OwnerPresident of Wasatch Rock, Inc., an company selling various aggregate rock products from five Utah County area pits. In addition, Wasatch Rock does demolition and recycling of reinforced and unreinforced concrete, asphalt, masonry, and brick. These are then reused as road base, fill, and gravel. Over the last 12 years Seng and employhas been ee of Kenny Seng Construction Orem-base- s, d half-yea- in this country I in the world." Although Sel focuses mainly on large comi nies with high potential fi growth, it also looks for incom like other funds of its type, a; invests at least 80 percent of holdings in dividend-payi- : companies. "These companies are stu ied so thoroughly and qui tioned so often that tin Even so, Tim Keefe, portfomanager of John Hancock strategies are generally vt clear, much more than in smn er companies where the strat gy often depends largely on of person," Ledford adds, "fh should make them mo dependable, a trait tli appeals to relatively ris averse investors." Strong Growth & Incon Fund, which was start specifically to give sm investors an alternative to t fund group's growth-oriente- d and was in the top 5 percent its category in the last months, sees other reasons d widely-publicize- bor- Colony just leaders Growth and Income fund, which went up more than 22 percent in the first half of the year, says there are still exciting, and sometimes unexpected, opportunities. In just the last few weeks Keefe ha bought a series of consumer finance companies at what he says are "extremely attractive entry points." The sector, he points out, has produced a news stories of fraud, delinquencies and bankruptcy. "No wonder people are scared. Those fears, however, drove down the price of companies with great businesses far beyond reasonable levels." First Plus Financial Services, for example, went to five times earnings and the Money Store to below twelve times earnings. The fund bought both stocks in the mid $20s; both were recently back in the low $30s. Similarly, when Ascend Communications and Cisco Systems fell to market multiples, despite their 20 percent plus growth rates, Keefe moved in quickly. "If we can buy market leaders when they drop so sharply, we can protect the downside risk at the same time as we increase the upside potential," he says. "Growth and income funds are relatively conservative in their goals but they don't have to be stodgy in their methods." ' American Century Select, up more than 21 percent in the agrees leaders still have substantial advantages, despite the increases of the last two years. "They are bringing in new products, expanding BUSINESS TRENDS Jed Hanson, fitness director at Powerhouse Gym attended the World Fitness Conference in California. Presented by the International Association of Fitness Professionals, the conference features the latest developments in exercise along with an emphasis on nutrition and weight management. Hanson has trained over 700 individuals and specializes in customizing fitness programs. into new markets and openi new distribution channel says Jean Ledford, the le portfolio manager. "For a lorl time to come they should reaping the benefits of t changes that made them i gains but without running undue risks and these are exceptionally high numbers for those objectives. The market has rewarded careful selection even more handsomely. Now the funds have to deal with valuations that have become increasingly stretched. AsvKiali.il Press beans Tim Keefe. portfolio manag. John Hancock Growth at Income fur the greater dependability laree companies, i ne ones v are interested in have se soned managements," sa Rimas Milaitis the fund ma ager. "Smaller companies oft don't. When everything going wen mats an ngnt. m: in rough times experience caj make all the difference." In a downturn to the liquid ty of big companies could tur out to be a valuable asset. "It been so long since there was meaningful correction. Bu with our type of the sharehok er we have to keep that poss bility in mind all the time Milaitis adds. His portfolij focuses on companies wit earnings, lo debt "so they aren't payir' more to the bank than they a 5 to themselves" and in a wit ' range of industries. These three funds have ha exceptional performance in a ahnve-averap- e exceptional period. They shai with all growth and incom funds, however, the hope tha attention to both risk an reward will help them eve when conditions are less favoii able. r, THE DAILY HERALD Herald Extra http:www.heraldextra.cora Inc. TRENDS POLICY The Daily Herald accepts Utah County press releases regarding trends in the business community including personnel promotions and recognitions, business awards, relocations and new products. The release should not exceed 50 words in length and may he accompanied by a glossy picture of the recognized individual. If you wish the picture to he returned, please a include stamped envelope with your submission. Articles may be edited by The Daily Herald and will be published free of charge. Send information to: Business Editor could sort through all 263 Utah County mortgage companies. You (Oops! Make that 2S8 six just went out of business, and one just started.) mm S - msm mm mm U I 1 Or you could just go with number one: First Colony Mortgage. (Tip: Save yourself the in 11 V i) - ... FLEET -, ir- Clark Knudsen 9 i PRICING LWERBTOYOORfUSlNESi: Contact: o offlcM Mnftng UMMidWmniM COMMERCIAL WOKSfKKMfflDW heartburn and call us first.) I I g FINANCING Provo UT 84603 itsnet.com of Utah County' 'J Fleet Commercial Sales v- Eloaigiiartois at P.O. Box 717 vditl a G self-address- fax:373-548- vt i i M Fleet &Commercial Sales Manager & oj-uo- u raser jo - ojou '"r" FZQVQG2Zn flfn)mrn) njnvesHne in Lifetime Cuxtnm 191 SoMth university Ave, Provo ' |