James D. Oberweis' company, Oberweis Asset Management Inc., has the top mutual fund in the country — but he is devoting his attention to being No. 1 in Illinois.
Mr. Oberweis, founder and chairman, is a candidate for the Republican nomination for governor of Illinois. The primary election is March 21.
During a radio interview about his campaign, Mr. Oberweis boasted, "We have the No. 1 mutual fund in the country now," referring to the Oberweis China Opportunities Fund.
Morningstar Inc., Chicago, confirmed the claim. The China fund has a total return of 24.3% for the year as of March 9, topping all the other equity, fixed income and real estate funds, in the Morningstar universe, said Annette Larson, Morningstar spokeswoman.
The 85 funds in Morningstar's Pacific Asia ex-Japan equity universe had an average total return for the same period of only 7.83%.
The Oberweis China fund is managed Mr. Oberweis' son, James W. Oberweis, president of the Lisle, Ill.-based firm. The fund, which was launched Oct. 3, has $41.6 million under management.