Dividend Growth Forum

Voya Corporate Leaders® Trust Fund Series B (LEXCX)

Here is an amazing fund from a curiosity perspective. Not because of it's Performance, but because of the funds Rules established at inception (and today it is still here) "87 years old".

This fund launched in 1935 with 30 names in its portfolio. By prospectus, it can only own the 30 companies on that original list and any direct descendants--created through mergers, acquisitions, or spinoffs--of those companies. Companies can occasionally be sold (for instance, the fund dumped Citigroup in 2009), but none can be added unless they are directly tied to one of the original 30. That means that for all intents and purposes, this fund's portfolio is on autopilot. This is reflected in the fund's 0 percent turnover ratio. Over time, while this fund's conservative nature has occasionally held it back, it has built up some impressive numbers. As of the end of the first quarter, its trailing 10-year returns landed it in the top 2 percent of Morningstar's large-value category. The fund has returned 11.10 percent over the past five years and 10.97 percent over the past decade.

YTD performance 18.59%, 1YR +21.48 , 3 YR +11.20, 5 YR +11.14, 10 YR +11.33

Did not post to recommend the fund, posted because it reflect true conviction and the Epitome of time in the market

- Scoot

Compounding is magical. I think the Templeton story is my favorite. He told his broker to buy 100 shares of every NYSE stock during the heart of the depression. Then he sent him back in to buy the 1/3rd that had already filed BK. Most all of the stocks were under $1 at the time. He didn't get rich overnight but he indeed became very wealthy. Lesson for me is always have some cash and buy when the market is a complete dumpster fire. Easier said than done for most.

Time is indeed the magical ingredient. I've got a few even better examples of some long-term investing.

-There is a perpetual bond owned by Yale university, on which they still collect interest. It's a bond issued by a Dutch water board to gather financing for improving the local dike & canal system. The payout is not much, apparently around 10 euros annually, but the bond still pays it out. Obviously this doesn't have much financial value, but a ton of historical value. The year the bond was issued? 1648.
https://news.yale.edu/2015/09/22/living-...s-interest

-Also, apparently most of the real estate in the center of Venice, Italy, is owned by one family. It's hard to find info since they are very low key, but the rumor is that their ancestors bought up a lot of the prime real estate there hundreds of years ago, and the family has simply sat on that real estate and collected rent for centuries. Can't find a source on this now, I'm getting old so it can also be that my memory is playing tricks on me.

(12-13-2021, 05:02 AM)crimsonghost747 Wrote: [ -> ]Time is indeed the magical ingredient. I've got a few even better examples of some long-term investing.

-There is a perpetual bond owned by Yale university, on which they still collect interest. It's a bond issued by a Dutch water board to gather financing for improving the local dike & canal system. The payout is not much, apparently around 10 euros annually, but the bond still pays it out. Obviously this doesn't have much financial value, but a ton of historical value. The year the bond was issued? 1648.
https://news.yale.edu/2015/09/22/living-...s-interest

-Also, apparently most of the real estate in the center of Venice, Italy, is owned by one family. It's hard to find info since they are very low key, but the rumor is that their ancestors bought up a lot of the prime real estate there hundreds of years ago, and the family has simply sat on that real estate and collected rent for centuries. Can't find a source on this now, I'm getting old so it can also be that my memory is playing tricks on me.

Not to be outdone..................

Not everyone knows that if Jesus had invested a single dollar in a value trap stock that grew at sub 3% he could now pay of the US National Debt and change left over to buy up all the FAANG stock shares.   

Took me a minute to find a compounding calculator that would go this high.