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Byline: J. ROBINSON PURDY
RS Value Fund is a bargain hunter.
"We try to buy 50-cent dollars," said co-manager David Kelley, meaning he aims to buy stocks at a 50% discount.
The strategy is working for this $1.1 billion portfolio.
Going into Monday, the fund was up 8.91% for this year. Its mid-cap blend rivals tracked by Morningstar were up 5.99%, and the S&P 500 was up 2.72%.
For the past five years the fund's annual average gain was 18.21% vs. 6.93% for its peers and a 2.03% loss for the S&P 500.
One recent example of this fund's approach was its spring 2004 buy of St. Joe at an average cost of 44.70. Now trading around …