North Carolina Student and Fund Manager Launches AVF North Carolina 65 Index, Providing an Accessible View into Local Economies Through the Lens of the Equity Markets

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Bringing an innovative perspective to economic planning, Patrick Goldin, General Partner of the Alain Value Fund LP (AVF) launched a freely available, composite index composed of North Carolina's largest companies. The equity index concept offers a unique approach to tracking economic performance and points to application across a variety of states and regions.

Represents a concept that allows all stakeholders: employers, investors, consumers, journalists, and policy makers, to better gauge their economic situations.

In response to the economic development and planning communities’ interest in the AVF North Carolina 35 Index (the “AVF NC 35”), AVF reports today that it has created and published the AVF North Carolina 65 Index (the “AVF NC 65” or the “Index”), an informational index composed of the sixty-five largest publicly traded companies with operations headquartered in North Carolina.

Building on the broader economic base reflected by its components, the AVF NC 65 offers an enhanced level of reporting as compared to the AVF NC 35. This feature allows the Index to provide unique views into North Carolina’s economy at a state and Combined Statistical Area (“CSA”) level.

Regarding the AVF NC 35, Dr. Tony Plath, Associate Professor of Finance at UNC Charlotte, was quoted in the October 9th edition of the Winston Salem Journal, this way "We've never had this sort of real-time tracking index available in the state, so this tracking index is a good addition to our database of information about business conditions in the state," Plath said. "People who manage their own investments, or try to keep up-to-date with business trends in the state, will find this sort of information useful." Plath said having a teenager develop the index also "shows that relevant and useful financial innovation isn't always thought up just by investment-banking types." The article can be accessed at:

“I had a central goal in mind when developing the AVF NC 65” said Patrick Goldin, General Partner of the Alain Value Fund LP. “In light of Dr. Plath’s comments on the AVF NC 35 and the economic difficulties faced by our local communities generally, I wanted to provide a snapshot into the capital markets’ perception of the state’s economy by tracking the sixty-five largest North Carolina companies as reflected by market capitalization. The AVF NC 65 does that calculation with the degree of granularity necessary to inform state and local economic decision makers about underlying economic health at the community level.”

As a function of its definition and construction, the AVF NC 65 includes companies from across North Carolina that are recognized bellwethers of the American economy, including Bank of America, Lowe’s Companies, Duke Energy, and Reynolds American, as well as emerging leaders, including Polypore and Salix Pharmaceuticals.

While not a tradable index, the AVF NC 65 updates every two minutes with underlying equity market data on a real-time basis consistent with Google Finance data refresh rates and can be accessed at no cost directly at:

As a next step for the AVF NC 65, Patrick said “I presented the equity index concept as an economic barometer unexplored by NC policy influencers at the Institute for Emerging Issues' Discovery Forum and received positive feedback. Economic vitality across divergent communities is a challenge. I’m interested in connecting with organizations and states that have an interest in understanding more about the tool and how it might be applied to their specific economic development situations and long term economic reengineering goals.”

About AVF

The Alain Value Fund LP is a limited partnership exercising a research driven, value-oriented investment strategy established in 2007 and managed by Patrick Alain Goldin. In addition to managing the partnership, Patrick is a regular contributor to GuruFocus and is a high school student based in Greensboro, NC.



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Patrick A. Goldin
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