Money Life “Big Interview” with Buffalo High Yield Fund PM Paul Dlugosch

Money Life “Big Interview” with Buffalo High Yield Fund PM Paul Dlugosch

Media Coverage

Money Life “Big Interview” with Buffalo High Yield Fund PM Paul Dlugosch

Overview

Buffalo Funds High Yield portfolio manager Paul Dlugosch recently appeared on the “Money Life with Chuck Jaffe” podcast.

During the call, Paul discusses how current high-inflation and rising-rate environment affects the high-yield bond market. He also goes in-depth on the quality and strength of corporate earnings being a significant determinant of whether the junk-bond market can recover or if it will face troubles that linger to 2023 and beyond. Paul also provides an overview of his investment methodology, his thoughts on investing in energy companies in general, and his thoughts on Teva Pharmaceutical (NYSE: TEVA) and Bausch Health (NYSE: BHC).

MORE ABOUT PAUL


Paul Dlugosh, CFA
Portfolio Manager
25 Years of Experience
 View full bio

Opinions expressed are those of the author or Funds as of 5/16/22 and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. A full listing of the Buffalo High Yield Fund portfolio holdings can be found here. Past performance does not guarantee future results.

Cash flow is a measure of the cash produced by the firm in a given period on behalf of equity holders. The true measure of the value of a firm’s equity is considered to be the present value of all free cash flows. Correlation measures the degree to which two variables move in relation to each other, for example the movement of a stock with that of a benchmark index.

Overall Morningstar Rating™ of BUFHX is 5 stars based on risk-adjusted returns among 632 High Yield Bond funds as of 4/30/22. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% 3-year rating for 36-59 months of total returns, 60% 5-year rating/40% 3-year rating for 60-119 months of total returns, and 50% 10-year rating/30% 5-year rating/20% 3-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent 3-year period actually has the greatest impact because it is included in all 3 rating periods. The Buffalo High Yield Fund (BUFHX) received 5 stars among 632 for the 3-year, 5 stars among 575 for the 5-year, and 4 stars among 381 High Yield Bond funds for the 10-year period ending 4/30/22. © 2022 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

As of 12/31/21 the Buffalo High Yield Fund top 10 holdings were Northern Oil & Gas (8.125%, 3/1/28) 3.01%, DirecTV Financing (1 Month LIBOR + 5.000%, 8/2/27) 2.66%, MPLX (6.875%, 8/15/23) 2.34%, Penn Virginia Escrow (9.250%, 8/15/26) 2.07%, Consol Energy (11.000%, 11/15/25) 2.06%, Matador Resources (5.875%, 9/15/26) 1.88%, Energy Transfer (7.125%, perpetual preferred) 1.69%, PetIQ (3 Month LIBOR + 4.250%, 4/7/28) 1.65%, Magnite (6 Month LIBOR + 5.000%, 4/3/28) 1.48%, Talos Production (12.000%, 1/15/26) 1.43%. Top 10 holdings for the quarter are not disclosed until 60 days after quarter end. Fund holdings are subject to change and are not recommendations to buy or sell any securities.

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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Kiplinger: Top-Performing Mutual Funds Copy

Media Coverage

Kiplinger: Top-Performing Mutual Funds Copy

Overview
Kiplinger recognized the Buffalo Flexible Income and International Funds as “Top-Performing Mutual Funds” in their recent fund analysis for the period ending April 30, 2022.

The Buffalo Flexible Income Fund (BUFBX) ranked #1 in the Hybrid Stock Funds category for 1-year annualized returns based on Morningstar’s universe of 25,000+ funds. (BUFBX was not ranked in the top 10 for the 3, 5, 10, or 20-year time period)

The Buffalo International Fund (BUFIX) ranked #9 in the International Diversified Large-Company Funds category for 5-year annualized returns based on Morningstar’s universe of 25,000+ funds. (BUFIX was not ranked in the top 10 for the 1, 3, 10, or 20-year time period)

Management Team:

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the funds may be lower of higher than the performance quoted. Quarter-end performance can be obtained here and month-end performance can be obtained here.
Flexible Income Fund

Flexible Income Fund

Total Assets $490.02 Million  (3/31/22)
Expense Ratio 1.01% / 0.86%
Benchmark Morningstar Moderately Aggressive Target Risk

International Fund

International Fund

Total Assets $659.78 Million  (12/31/21)
Expense Ratio 1.04% / 0.89%
Benchmark Morningstar Global Markets ex-US

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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Buffalo Funds named to IBD Best Mutual Funds 2022

Buffalo Funds named to IBD Best Mutual Funds 2022

Media Coverage

Buffalo Funds named to IBD Best Mutual Funds 2022

Overview

The Buffalo International Fund (BUFIX) and the Buffalo High Yield Fund (BUFHX) are included on the Investor’s Business Daily 2022 Best Mutual Funds Award Winner list, in the 7th annual ranking by the investment publication, announced this week.

The International Fund was included in the Best International Stock Funds, and the High Yield Fund was included in the Best U.S. Taxable Bond Funds.

Funds named to IBD’s list were chosen because they have outperformed their benchmark index over the past 1, 3, 5, and 10-year periods, as of 12/31/21. In order to make the list, funds must have outperformed in all four time periods. IBD made its selections from 3,673 mutual funds that met the criteria of having at least 10 years of operation.

We’re honored that our funds have been recognized in this way by IBD. These funds exemplify our firm’s goal of consistently delivering strong risk-adjusted performance to our shareholders, said Kent Gasaway, president of the Buffalo Funds.

The Buffalo International Fund has been managed by Nicole Kornitzer since 2009.

The Buffalo High Yield Fund is managed by Paul Dlugosch, Jeff Sitzmann, and Jeff Deardorff.

To view IBD’s complete list and analysis of the Best Mutual Funds 2022, please visit: https://www.investors.com/etfs-and-funds/mutual-funds/best-mutual-funds-2022-beating-sp-500-over-last-1-3-5-10-years/

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed may be worth more or less than their original value. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained here. Performance data current to the most recent quarter-end may be obtained here. Performance is annualized for periods greater than 1 year.

Opinions expressed are those of the author or Funds and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

References to other mutual funds should not to be considered an offer to buy or sell these securities.

HIGHLIGHT

BUFIX and BUFHX named to Investor’s Business Daily Best Mutual Funds 2022 list in the International Stock Fund and U.S. Taxable Bond Funds categories, respectively.

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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Kiplinger: Top-Performing Mutual Funds

Media Coverage

Kiplinger: Top-Performing Mutual Funds

Overview
Kiplinger recognized the Buffalo Flexible Income and International Funds as “Top-Performing Mutual Funds” in their recent fund analysis for the period ending March 31, 2022.

The Buffalo Flexible Income Fund (BUFBX) ranked #2 in the Hybrid Stock Funds category for 1-year annualized returns based on Morningstar’s universe of 25,000+ funds. (BUFBX was not ranked in the top 10 for the 3, 5, 10, or 20-year time period)

The Buffalo International Fund (BUFIX) ranked #10 in the International Diversified Large-Company Funds category for 5-year annualized returns based on Morningstar’s universe of 25,000+ funds. (BUFIX was not ranked in the top 10 for the 1, 3, 10, or 20-year time period)

Management Team:

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the funds may be lower of higher than the performance quoted. Quarter-end performance can be obtained here and month-end performance can be obtained here.
Flexible Income Fund

Flexible Income Fund

Total Assets $490.02 Million  (3/31/22)
Expense Ratio 1.01% / 0.86%
Benchmark Morningstar Moderately Aggressive Target Risk

International Fund

International Fund

Total Assets $659.78 Million  (12/31/21)
Expense Ratio 1.04% / 0.89%
Benchmark Morningstar Global Markets ex-US

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Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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Kiplinger: Top-Performing Mutual Funds

Media Coverage

Kiplinger: Top-Performing Mutual Funds

Overview

Kiplinger recognized the Buffalo Flexible Income and International Funds as “Top-Performing Mutual Funds” in their recent fund analysis for the period ending February 28, 2022.

The Buffalo Flexible Income Fund (BUFBX) ranked #1 in the Hybrid Stock Funds category for 1-year annualized returns based on Morningstar’s universe of 25,000+ funds. (BUFBX was not ranked in the top 10 for the 3, 5, 10, or 20-year time period)

The Buffalo International Fund (BUFIX) ranked #9 in the International Diversified Large-Company Funds category for 5-year annualized returns based on Morningstar’s universe of 25,000+ funds. (BUFIX was not ranked in the top 10 for the 1, 3, 10, or 20-year time period)

Management Team:

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the funds may be lower of higher than the performance quoted. Quarter-end performance can be obtained here and month-end performance can be obtained here.
Flexible Income Fund

Flexible Income Fund

Total Assets $490.02 Million  (3/31/22)
Expense Ratio 1.01% / 0.86%
Benchmark Morningstar Moderately Aggressive Target Risk

International Fund

International Fund

Total Assets $659.78 Million  (12/31/21)
Expense Ratio 1.04% / 0.89%
Benchmark Morningstar Global Markets ex-US

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Stay up-to-date with the most recent media coverage and press releases about the Buffalo Funds.

FOR FINANCIAL PROFESSIONALS

Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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Kiplinger: Top-Performing Mutual Funds

Media Coverage

Kiplinger: Top-Performing Mutual Funds

Overview

Kiplinger recognized the Buffalo Flexible Income, International, and Small Cap Funds as a “Top-Performing Mutual Fund” in their recent fund analysis for the period ending December 31, 2021.

The Buffalo Flexible Income Fund (BUFBX) ranked #2 in the Hybrid Stock Funds category for 1-year annualized returns based on Morningstar’s universe of 25,000+ funds. (BUFBX was not ranked in the top 10 for the 3, 5, 10, or 20-year time period)

The Buffalo International Fund (BUFIX) ranked #7 in the International Diversified Large-Company Funds category for 1-year annualized returns based on Morningstar’s universe of 25,000+ funds. (BUFIX was not ranked in the top 10 for the 3, 5, 10, or 20-year time period)

The Buffalo Small Cap Fund (BUFSX) ranked #9 in the Small-Company Stock Funds category for 3-year annualized returns based on Morningstar’s universe of 25,000+ funds. (BUFSX was not ranked in the top 10 for the 1, 5, 10, or 20-year time period)

Management Team:

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the funds may be lower of higher than the performance quoted. Quarter-end performance can be obtained here and month-end performance can be obtained here.
Flexible Income Fund

Flexible Income Fund

Total Assets $490.02 Million  (3/31/22)
Expense Ratio 1.01% / 0.86%
Benchmark Morningstar Moderately Aggressive Target Risk

International Fund

International Fund

Total Assets $659.78 Million  (12/31/21)
Expense Ratio 1.04% / 0.89%
Benchmark Morningstar Global Markets ex-US

Small Cap Fund

Small Cap Fund

Total Assets $1.16 Billion  (12/31/21)
Expense Ratio 1.01% / 0.86%
Benchmark Morningstar U.S. Small Growth

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Stay up-to-date with the most recent media coverage and press releases about the Buffalo Funds.

FOR FINANCIAL PROFESSIONALS

Terms of Use – Email lists are created for use by U.S. investment professionals only and are published strictly for informational purposes. Providing access to the content of these emails does not explicitly or implicitly constitute a solicitation of services or products of the Buffalo Funds, Kornitzer Capital Management, or any of their affiliates. The information contained in the emails is not intended for distribution to, or for use by, investment professionals in a jurisdiction where distribution or purchase is not authorized. The information contained in these emails is not appropriate for use by individual investors. By registering for any of these emails, you agree to Buffalo's terms and conditions and that you are qualified as an institutional investor or otherwise member of a registered broker/dealer, registered investment advisor, or investment consulting firm.

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