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.
Portfolio Management
Joe Gatz, CFA
Jeff Schwartz, CFA
Primary Benchmark
Russell 2500 Index
Strategy Highlights
- 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
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Year-to-Date Performance as of 3/24/2023 Month-End Performance as of -1/-1/-1 Cumulative
Total Return | Class NA |
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| 3 month | N/A | | Year-to-date | N/A |
Average Annualized
Total Return | Class NA |
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| Inception Date | N/A | | Since Inception | N/A |
Quarter-End Performance as of -1/-1/-1 Cumulative
Total Return | Class NA |
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| 3 month | N/A | | Year-to-date | N/A |
Average Annualized
Total Return | Class NA |
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| Inception Date | N/A | | Since Inception | N/A |
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Lipper Ranking as of -1/-1/-1 | |
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| 1 Year | / | | 3 Years | / | | 5 Years | / | | 10 Years | / | | Lipper Category: NA |
Morningstar Ranking as of -1/-1/-1 | |
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| 1 Year | / | | 3 Years | / | | 5 Years | / | | 10 Years | / | | Morningstar Category: NA |
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.
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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.
Lipper Analytical Services Inc., a Thomson Reuters Company, is a nationally recognized organization that provides performance information for mutual funds. Copyright 2023 © Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
© 2023 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Monthly as of -1/-1/-1
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| 0.0% | | Country Distribution | |
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| @ERROR% | | Maturity Distribution | |
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| @ERROR% | |
1
Quarterly as of -1/-1/-1
| Duration Distribution | Fund | Index |
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| @ERROR% | @ERROR% |
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| Sector Distribution (Fixed) * | Fund | Index |
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| 0.0% | 0.0% | | 0.0% | 0.0% | | Country Distribution | Fund | Index |
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| @ERROR% | 0.0% | | Maturity Distribution | Fund | Index |
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| @ERROR% | @ERROR% | |
1