EQUITY FUND RESEARCH has been offering investment management services to individuals and trusts since 1980.  Performance has been very competitive for both tax-advantaged (IRA, Keoghs, etc.) and taxable accounts.  For the fourteen years through June, 2004 the average of all accounts realized an effective annual compound rate of return of 17.5% vs. 8.6% for the S&P 500.  Results are also summarized by Money Manger Review at www.managerreview.com.  Results of our newsletter, Equity Fund Outlook, are attested to by the Hulbert Financial Digest.

Clients receive quarterly statements that show holdings, portfolio characteristics, commentary and performance, for the most recent quarter and since account inception, compared with a market benchmark.  Each account is separately managed, and a client’s expressed risk ceiling is scrupulously observed. Equity Fund Research is about research: the special effort required to research and produce a leading newsletter on growth funds each month serves as a discipline that assists in obtaining effective results for clients. As publishers of a leading newsletter we enjoy access to portfolio managers for additional insights. All accounts are managed by firm principal Thurman Smith.

Currently we are accepting only tax-advantaged accounts such as IRAs, Keoghs, 403(b) and other retirement plans . The minimum account size is $250,000 (per portfolio).  Fees are based on assets and do not exceed 1%.  Client assets are custodied at Charles Schwab & Co.

A detailed track record, background of chief investment officer Thurman Smith, and other essential information on the service, including a copy of our form ADV Part II on file with  with the Massachusetts Securities Division can be sent: please call us at or 800-982-0055, 8 am to 4 pm eastern time.    Offices located at 194 Summer St.  Malden MA 02148.