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Objective
Seeks long-term capital appreciation.
Overview
A mid-cap fund that seeks deeply discounted companies with temporary or cyclical issues in which the upside potential is overlooked.
Portfolio Management
7
YRS
MANAGING THIS FUND
19
YRS
AT WELLINGTON MANAGEMENT
28
YRS
EXPERIENCE IN THIS INDUSTRY
0
YRS
MANAGING THIS FUND
6
YRS
AT WELLINGTON MANAGEMENT
25
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio managers are supported by the full resources of Wellington.
Performance
PERFORMANCE %
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
SI = Since Inception.
Fund Inception: 04/30/2001
Share Class Inception: 2/28/17.
Class F-shares performance prior to 2/28/17 reflects Class I-shares performance and operating expenses, and, prior to 5/28/10 the performance and operating expenses of Class A-shares (excluding sales charges). Performance for Class F-shares prior to its inception date would have differed if Class F- operating expenses had been reflected. Since Inception (SI) performance is calculated from 4/30/01.
The Fund’s Class F shares have not been in operation for 10 years. Therefore, the Calendar Year Returns (F Shares) chart includes performance and operating expenses of another class. For more information, see the prospectus.
Characteristics
FUND STATS
| # of Holdings | 83 |
|---|---|
| % in Equities | 100 |
| % in Foreign Equities | 2 |
| Beta (3 year) | 0.99 |
| R Squared (3 year) | 0.97 |
| Standard Deviation | 20.05% |
| Turnover | 132% |
| Active Share | 88% |
Holdings Characteristics
| FUND | Russell Midcap Value Index | |
|---|---|---|
| Price/Earnings | 13.7x | 15.0x |
| Price/Book | 2.2x | 2.6x |
| EPS Growth Rate | 10.2% | 10.7% |
| Asset Weighted Market Cap (billions) | $19.9 | $25.5 |
| Return on Equity | 14.0% | 15.7% |
| Median Market Cap (billions) | $14.3 | $10.7 |
Top Ten Holdings (%)
| Willis Towers Watson PLC | 1.95 |
| WEC Energy Group, Inc. | 1.90 |
| Nasdaq, Inc. | 1.75 |
| U.S. Foods Holding Corp. | 1.74 |
| Centene Corp. | 1.72 |
| Camden Property Trust | 1.72 |
| Reliance, Inc. | 1.71 |
| Dover Corp. | 1.68 |
| Stifel Financial Corp. | 1.64 |
| Atmos Energy Corp. | 1.61 |
| Total Portfolio % | 17.42 |
Market Cap Distribution (%)
| Less than $2 billion | 2 | |
| $2 billion - $5 billion | 13 | |
| $5 billion - $10 billion | 23 | |
| Greater than $10 billion | 63 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
0.43 |
|
Down Capture (5 Year)
|
95.74 |
|
Information Ratio (5 Year)
|
0.10 |
|
Sharpe Ratio (5 Year)
|
0.38 |
|
Up Capture (5 Year)
|
97.55 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 9/30/24 | 12/31/24 | 12/31/24 | -4 0 4 | ||||
| Health Care | 8 | 12 | 8 | ||||
| Financials | 20 | 21 | 18 | ||||
| Utilities | 7 | 9 | 7 | ||||
| Consumer Discretionary | 10 | 10 | 9 | ||||
| Industrials | 18 | 17 | 17 | ||||
| Communication Services | 3 | 3 | 3 | ||||
| Energy | 6 | 5 | 6 | ||||
| Real Estate | 9 | 8 | 10 | ||||
| Information Technology | 8 | 7 | 9 | ||||
| Materials | 7 | 5 | 7 | ||||
| Consumer Staples | 3 | 3 | 6 | ||||
Based on Global Industry Classification Standard (GICS), which was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. (S&P). Excludes cash. May not total to 100% due to rounding and/or pooled vehicle allocations.
Past distributions are not indicative of future distributions.
Fund Literature
12/31/2024 - PDF (199 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
09/30/2024 - PDF (291 KB)
This flyer highlights how mid-cap value stocks have historically performed.
09/30/2024 - PDF (167 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
09/30/2024 - PDF (283 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
09/30/2024 - PDF (172 KB)
Attribution analysis is a method for evaluating the performance of a portfolio compared to the benchmark.
09/30/2024 - PDF (172 KB)
Attribution analysis is a method for evaluating the performance of a portfolio compared to the benchmark.
PDF (155 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
09/30/2024 - PDF (527 KB)
This Pitchbook reviews the Fund's investment approach, investment team, investment process, and general portfolio parameters.
An unaudited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A legal document that discloses essential information about a fund, including investment objectives, risks, fees, expenses, fund manager background and other information.
An audited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Mid-cap securities can have greater risks and volatility than large-cap securities. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur.
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