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Objective
Seeks long-term capital appreciation.
Overview
A small-cap value fund that seeks companies with a favorable combination of valuation, capital return, and quality characteristics
Portfolio Management
6
YRS
MANAGING THIS FUND
17
YRS
AT WELLINGTON MANAGEMENT
26
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio manager is 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: 01/01/2005
Share Class Inception: 3/31/15.
Class I-share performance prior to its inception date reflects Class A-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 1/1/05.
The Fund’s Class I shares have not been in operation for 10 years. Therefore, the Calendar Year Returns (I Shares) chart includes performance and operating expenses of another class. For more information, see the prospectus.
Characteristics
FUND STATS
| # of Holdings | 62 |
|---|---|
| % in Foreign Equities | 4 |
| Standard Deviation | 22.78% |
| Turnover | 52% |
| Active Share | 95% |
Holdings Characteristics
| FUND | Russell 2000 Value Index | |
|---|---|---|
| Price/Earnings | 12.5x | 18.7x |
| Price/Book | 1.5x | 1.5x |
| EPS Growth Rate | 5.0% | 7.4% |
| Asset Weighted Market Cap (billions) | $2.9 | $3.2 |
| Median Market Cap (billions) | $2.0 | $0.9 |
| Return on Equity | 9.1% | 5.0% |
Top Ten Holdings (%)
| iShares Russell 2000 Value ETF | 4.17 |
| Cadence Bank | 2.45 |
| Home BancShares, Inc. | 2.19 |
| CVB Financial Corp. | 2.13 |
| Sandy Spring Bancorp, Inc. | 2.10 |
| InterDigital, Inc. | 2.05 |
| Radian Group, Inc. | 1.99 |
| CoreCivic, Inc. | 1.96 |
| Bread Financial Holdings, Inc. | 1.94 |
| PROG Holdings, Inc. | 1.91 |
| Total Portfolio % | 22.89 |
Market Cap Distribution (%)
| Less than $2 billion | 42 | |
| $2 billion - $5 billion | 35 | |
| $5 billion - $10 billion | 19 | |
| Greater than $10 billion | 0 | |
| Not Classified | 4 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
2.23 |
|
Down Capture (5 Year)
|
95.09 |
|
Information Ratio (5 Year)
|
0.46 |
|
Sharpe Ratio (5 Year)
|
0.48 |
|
Up Capture (5 Year)
|
101.36 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 9/30/24 | 11/30/24 | 11/30/24 | -8 0 8 | ||||
| Consumer Discretionary | 17 | 17 | 9 | ||||
| Financials | 35 | 36 | 30 | ||||
| Information Technology | 9 | 9 | 6 | ||||
| Consumer Staples | 3 | 3 | 2 | ||||
| Communication Services | 2 | 2 | 3 | ||||
| Industrials | 12 | 11 | 13 | ||||
| Health Care | 7 | 7 | 9 | ||||
| Utilities | 3 | 3 | 5 | ||||
| Materials | 3 | 2 | 5 | ||||
| Energy | 3 | 3 | 7 | ||||
| Real Estate | 3 | 3 | 11 | ||||
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.
Insights
Fund Literature
09/30/2024 - PDF (220 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
09/30/2024 - PDF (166 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.
PDF (160 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 (610 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. • Small-cap securities can have greater risks, including liquidity risk, 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. • 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. • 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.
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