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Objective
Seeks capital appreciation.
Overview
A small-cap fund that seeks companies with compelling business models, strong management teams, and attractive valuation levels.
Portfolio Management
Portfolio Manager
6
YRS
MANAGING THIS FUND
11
YRS
AT SCHRODERS
30
YRS
EXPERIENCE IN THIS INDUSTRY
Portfolio Manager
1
YRS
MANAGING THIS FUND
11
YRS
AT SCHRODERS
23
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio managers are supported by the full resources of Schroders.
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: 08/06/1993
Class A-shares performance from 5/15/06 through 10/21/16 reflects the performance, fees, and expenses of the Advisor Class of the predecessor fund Schroder U.S. Opportunities Fund (the "Predecessor Fund") and, prior to 5/15/06, the performance of the Predecessor Fund's Investor Class, adjusted to reflect the distribution fees of the Predecessor Fund's Advisor Class. If Class A fees and expenses were reflected, performance would have differed. SI performance is calculated from 8/6/93.
Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.
Characteristics
FUND STATS
| # of Holdings | 84 |
|---|---|
| Beta (3 year) | 0.91 |
| R Squared (3 year) | 0.94 |
| Turnover | 42% |
| Active Share | 94% |
| % in Equities | 96 |
Holdings Characteristics
| FUND | Russell 2000 Index | |
|---|---|---|
| Price/Earnings | 19.2x | 29.2x |
| Price/Book | 3.7x | 4.9x |
| Asset Weighted Market Cap (billions) | $4.5 | $4.0 |
| Return on Equity | 6.6% | 3.0% |
| Median Market Cap (billions) | $3.4 | $1.0 |
Top Ten Holdings (%)
| Kemper Corp. | 2.36 |
| Lumentum Holdings, Inc. | 2.15 |
| ESCO Technologies, Inc. | 2.04 |
| Perella Weinberg Partners | 2.03 |
| Box, Inc. | 1.92 |
| ICU Medical, Inc. | 1.84 |
| Primoris Services Corp. | 1.73 |
| LiveRamp Holdings, Inc. | 1.73 |
| Viavi Solutions, Inc. | 1.70 |
| Cavco Industries, Inc. | 1.70 |
| Total Portfolio % | 19.20 |
Market Cap Distribution (%)
| Less than $2 billion | 26 | |
| $2 billion - $5 billion | 42 | |
| $5 billion - $10 billion | 25 | |
| Greater than $10 billion | 8 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
-0.98 |
|
Down Capture (5 Year)
|
94.67 |
|
Information Ratio (5 Year)
|
-0.28 |
|
Sharpe Ratio (5 Year)
|
0.35 |
|
Up Capture (5 Year)
|
91.62 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 9/30/24 | 11/30/24 | 11/30/24 | -4 0 4 | ||||
| Telecommunications | 6 | 6 | 2 | ||||
| Cash | 4 | 4 | 0 | ||||
| Industrials | 23 | 23 | 20 | ||||
| Financials | 18 | 19 | 18 | ||||
| Basic Materials | 6 | 5 | 4 | ||||
| Consumer Staples | 3 | 3 | 3 | ||||
| Utilities | 3 | 3 | 3 | ||||
| Consumer Discretionary | 12 | 11 | 12 | ||||
| Energy | 3 | 3 | 5 | ||||
| Technology | 8 | 8 | 11 | ||||
| Health Care | 12 | 12 | 16 | ||||
| Real Estate | 4 | 2 | 6 | ||||
Based on the Russell Global Sectors classification (RGS) system. May not total to 100% due to rounding.
Past distributions are not indicative of future distributions.
Fund Literature
09/30/2024 - PDF (213 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
09/30/2024 - PDF (470 KB)
This flyer highlights the Fund's unique approach in selecting small-cap companies.
09/30/2024 - PDF (300 KB)
Current quarterly commentary from sub-adviser, Schroders, 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 (161 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 (556 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. • 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. • The Fund's investments may fluctuate in value over a short period of time. • Financially material environmental, social and/or governance (ESG) characteristics are one of several factors that may be considered and as a result, the investment process may not work as intended.
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