Mid Cap Growth
The Mid Cap Growth strategy seeks to exceed the returns of the Russell Midcap Growth Index over full market cycles and to achieve this within the context of well-defined risk management
Primary Benchmark:
Russell Midcap Growth Index
Strategy Highlights
- Investment universe consists of approximately 900 stocks with market cap within range of Benchmark, double-digit growth rate and price > $5
- Idea generation combines the best ideas from equity research and quantitative screens, resulting in 300 stocks
- Theme recognition and fundamental analysis screen companies for transformational change, disruptive innovation, deregulation, earnings power and key balance sheet metrics
- Valuation analysis consists of traditional valuation metrics and discounted cash flow analysis
- Risk management is applied to specific stock risk, overall portfolio risk and sector and position size constraints
- Portfolio typically consists of 50-60 stocks
The Mid Cap Growth Composite, which was created in 2000, includes all discretionary institutional accounts with market values over $1 million managed in the mid cap growth equity style.
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Primary Benchmark: Russell Midcap Growth Index
|
Month-End Performance as of 4/30/2013 | Cumulative | Gross | Net | Index |
|---|
| 3 month | 5.13% | 4.96% | 6.58% | | Year-to-date | 11.57% | 11.33% | 13.15% |
Quarter-End Performance as of 3/31/2013 | Cumulative | Gross | Net | Index |
|---|
| 3 month | 11.12% | 10.94% | 11.51% | | Year-to-date | 11.12% | 10.94% | 11.51% |
| Average Annual Total Return | Gross | Net | Index |
|---|
| 1 year | 9.26% | 8.55% | 12.76% | | 3 years | 15.33% | 14.63% | 14.23% | | 5 years | 6.70% | 6.10% | 7.98% | | 10 years | 13.32% | 12.65% | 11.53% |
|
Calendar Year Performance | Year | Gross | Net | Index |
|---|
| 2012 | 13.96% | 13.23% | 15.81% | | 2011 | -5.95% | -6.54% | -1.65% | | 2010 | 37.69% | 36.98% | 26.38% | | 2009 | 28.39% | 27.75% | 46.29% | | 2008 | -44.80% | -45.07% | -44.32% | | 2007 | 40.75% | 40.05% | 11.43% | | 2006 | 8.76% | 8.21% | 10.66% | | 2005 | 14.24% | 13.57% | 12.10% | | 2004 | 19.88% | 18.94% | 15.48% | | 2003 | 41.64% | 40.56% | 42.71% |
|
Past performance does not guarantee future results. Gross returns are net of trading costs. Net returns are gross returns less effective management fees. Returns for multi-year periods are annualized.
Monthly as of 4/30/2013
| Characteristics | |
|---|
| Number of Stocks | | | P/E Trailing | @ERROR | | Price/Book Value | @ERROR | | Annual Portfolio Turnover as of -1/-1/-1 | % |
| Currency Distribution | |
|---|
| @ERROR% |
Top Ten Holdings
as of 4/30/2013 | % Assets |
|---|
| @ERROR% | |
| Sector Distribution | |
|---|
| 0.00% | | 0.00% |
| Country Distribution | |
|---|
| @ERROR% |
|
Due to rounding, market capitalization and sector distribution totals may not equal 100.00%. This portfolio is actively managed and holdings are subject to change. There is no guarantee the Fund continues to invest in securities referenced. Reference to specific securities or holdings should not be considered recommendations for action by investors.
P/E (trailing) is the sum of a company's price-to-earnings, calculated by dividing current stock price by trailing earnings per share for the past 12 months. Price/book is a ratio that compares a stock's market value to its book value calculated by dividing current closing price of the stock by the latest quarter's book value per share.
Quarterly as of 3/31/2013
| Characteristics | Fund | Index |
|---|
| Number of Stocks | | | | P/E Trailing | @ERROR | @ERROR | | Price/Book Value | @ERROR | @ERROR | | Annual Portfolio Turnover as of -1/-1/-1 | % | |
| Currency Distribution | Fund | Index |
|---|
| @ERROR% | 0.00% |
Top Ten Holdings
as of 3/31/2013 | % Assets |
|---|
| @ERROR% | | Market Capitalization | Fund | Index |
|---|
| | N/A | N/A | |
| Sector Distribution | Fund | Index |
|---|
| 0.00% | 0.00% | | 0.00% | 0.00% |
| Country Distribution | Fund | Index |
|---|
| @ERROR% | 0.00% |
|
Due to rounding, market capitalization and sector distribution totals may not equal 100.00%. This portfolio is actively managed and holdings are subject to change. There is no guarantee the Fund continues to invest in securities referenced. Reference to specific securities or holdings should not be considered recommendations for action by investors.
P/E (trailing) is the sum of a company's price-to-earnings, calculated by dividing current stock price by trailing earnings per share for the past 12 months. Price/book is a ratio that compares a stock's market value to its book value calculated by dividing current closing price of the stock by the latest quarter's book value per share.