Small Cap Growth
The Small Cap Growth strategy seeks to generate superior investment performance over a full market cycle relative to the Russell 2000 Growth Index
Primary Benchmark:
Russell 2000 Growth Index
Strategy Highlights
- Initial investment universe consists of roughly 4,000 companies with market capitalization range of the Russell 2000 Growth index
- Minimum growth and liquidity criteria filter the initial universe to approximately 1,000 stocks
- Idea Generation: the team combines a proprietary growth screen with a range of industry/company contacts
- Fundamental Analysis: team looks for companies with large and growing markets, competitive advantages, and management experience/execution
- Valuation: the team applies traditional metrics (P/E, P/S, P/CF) with discounted cash flow analysis (DCF)
- Risk Management: the team ensures position size is matched with the level of conviction and the risk level of the business model; implement portfolio constraints
The Small Cap Growth Composite, which was created in 2005, includes all discretionary institutional accounts with market values over $1 million managed in the small cap growth equity style.
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Primary Benchmark: Russell 2000 Growth Index
|
Month-End Performance as of 4/30/2013 | Cumulative | Gross | Net | Index |
|---|
| 3 month | 7.24% | 7.04% | 5.52% | | Year-to-date | 13.58% | 13.30% | 12.47% |
Quarter-End Performance as of 3/31/2013 | Cumulative | Gross | Net | Index |
|---|
| 3 month | 14.04% | 13.83% | 13.21% | | Year-to-date | 14.04% | 13.83% | 13.21% |
| Average Annual Total Return | Gross | Net | Index |
|---|
| 1 year | 14.01% | 13.19% | 14.52% | | 3 years | 18.53% | 17.73% | 14.75% | | 5 years | 11.14% | 10.43% | 9.04% | | Since Inception (4/1/2005) | 11.20% | 10.57% | 7.79% |
|
Calendar Year Performance | Year | Gross | Net | Index |
|---|
| 2012 | 11.83% | 11.06% | 14.59% | | 2011 | 4.76% | 4.10% | -2.91% | | 2010 | 32.32% | 31.41% | 29.09% | | 2009 | 32.96% | 32.10% | 34.47% | | 2008 | -39.61% | -39.90% | -38.54% | | 2007 | 25.32% | 24.76% | 7.05% | | 2006 | 15.23% | 14.71% | 13.35% |
|
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.