Small/Mid Cap Managed Account
The Small/Mid Cap Managed Account seeks to generate consistent, long-term investment performance in excess to the Russell 2500 Index.
Joe Gatz, CFA
Jeff Schwartz, CFA
Russell 2500 Index
- The investment universe includes all stocks generally within the market cap range of the benchmark at initial purchase
- We believe that known and recurring inefficiencies are available in the small cap market causing stock prices to deviate from their intrinsic value
- These inefficiencies can be categorized into three areas: misunderstood franchises, underfollowed and special situations
- A repeatable investment process can uncover higher quality businesses that are trading at a discount to intrinsic value utilizing rigorous fundamental research
- Disciplined bottom-up portfolio construction within a risk aware framework
- Sector guidelines: typical range is +/- 50% for benchmark sectors over 10%
- Individual security exposure: typical positions range from 0.5 to 2.5%, with no one stock typically greater than 3% of the portfolio
- 65 to 90 stocks typically; turnover: 20% to 40% annually
Year-to-Date Performance as of 3/24/2023
Month-End Performance as of -1/-1/-1
Quarter-End Performance as of -1/-1/-1
|Year-to-date||N/A| Gross Expense Ratio: (I) NA; Net Expense Ratio: (I) NA
Lipper Ranking as of -1/-1/-1
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Morningstar Ranking as of -1/-1/-1
Lipper and Morningstar rankings are based on total returns calculated by each ranking entity. Rankings do not take into account sales charges, if applicable, but include reinvestment of dividends and capital gains, if any.
|Morningstar Category: NA|
Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.
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