JMGRX Enterprise Fund

A differentiated mid-cap growth strategy that takes a moderate approach to an asset class known for rapid growth potential

NAV
$133.20
As of 07/07/2020

1-Day Change
-$1.84 (-1.36%)
As of 07/07/2020

YTD Return
-6.55%
As of 07/07/2020

Morningstar Rating

As of 05/31/2020

Morningstar Analyst Rating
Morningstar Analyst Rating				 Silver
As of 05/31/2020

Overview

ABOUT THIS FUND

By taking a moderate approach to an asset class with potential for rapid growth, this mid-cap growth fund has demonstrated lower volatility than the index. Unlike many competitor products that focus on short-term growth rates, this strategy seeks to invest in companies exhibiting sustainable and durable growth.

WHY INVEST IN THIS FUND

Smart Growth Approach
The Fund’s investment approach focuses on long-duration, sustainable-growth companies with strong competitive advantages and large addressable markets. We seek to avoid companies with rapid but unsustainable, short-term growth profiles.

Deep, Specialized Team
The Fund benefits from experienced Portfolio Managers with expertise in mid-cap investing; in-depth fundamental research conducted by a dedicated team of experts exclusively focused on small-mid-cap companies; and the broader support of an insightful team of equity investment professionals.

Growth Potential with Tempered Volatility
The portfolio offers exposure to medium-size companies with resilient business models and is designed to weather a variety of market environments and take on moderately less risk than the index.

Strong Risk-Adjusted Performance vs. Peers

10 Year Rankings in Morningstar Mid-Cap Growth Category (514 funds) as of 3/31/20


Enterprise Fund 3-Year rankings in Morningstar Mid Cap Growth Category as of 3/31/20: Alpha – 33rd percentile ranked 228 of 597 funds, Sharpe Ratio – 33rd percentile ranked 230 of 597 funds, Standard Deviation – 60th percentile ranked 347 of 597 funds and Beta – 64th percentile ranked 379 of 597 funds.
Past performance is no guarantee of future results.

PORTFOLIO MANAGEMENT

Brian Demain, CFA

Portfolio Manager

Industry since 1999. Joined Firm in 1999.

Philip Cody Wheaton, CFA

Portfolio Manager | Research Analyst

Industry since 2001. Joined Firm in 2001.

Performance

RETURNS (%) (As of 06/30/2020)
Enterprise Fund - Class I Shares Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Enterprise Fund - Class I Shares 23.23 -6.42 0.21 11.65 11.66 15.15 11.05
Russell MidCap® Growth Index 30.26 4.16 11.91 14.76 11.60 15.09 10.47
RETURNS (%) (As of 06/30/2020)
Enterprise Fund - Class I Shares Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Enterprise Fund - Class I Shares 23.23 -6.42 0.21 11.65 11.66 15.15 11.05
Russell MidCap® Growth Index 30.26 4.16 11.91 14.76 11.60 15.09 10.47
CALENDAR YEAR RETURNS (%)
Enterprise Fund - Class I Shares Russell MidCap® Growth Index
 
  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Enterprise Fund - Class I Shares 26.06 -1.65 17.83 30.86 12.01 3.49 12.08 26.53 -0.90 35.27
Russell MidCap® Growth Index 26.38 -1.65 15.81 35.74 11.90 -0.20 7.33 25.27 -4.75 35.47

MORNINGSTAR PERCENTILE

(As Of 03/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 64 33 18 13 30
Mid-Cap Growth Category|Rank/Count 435/618 233/597 107/564 75/514 42/136
(As Of 05/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 82 51 26 14 36
Mid-Cap Growth Category|Rank/Count 524/607 339/587 166/561 78/510 52/135
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 05/31/2020 Class I Shares)

RISK / REWARD
VS. Russell MidCap® Growth Index
3YR 5YR
Information Ratio -0.42 0.14
Alpha -0.89 1.16
Tracking Error 4.43 3.79
Beta 0.95 0.94
R-squared (%) 95.15 95.27
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index
3YR 5YR
Up Capture Ratio 89.57 94.40
Down Capture Ratio 93.89 89.86
STANDARD DEVIATION 3YR 5YR
Enterprise Fund 19.51 16.65
Russell MidCap® Growth Index 20.14 17.37
SHARPE RATIO 3YR 5YR
Enterprise Fund 0.53 0.61
Russell MidCap® Growth Index 0.61 0.55
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS I SHARES
Management Fees 0.64%
12b-1 Fees -
Other Expenses 0.11%
Total Gross Expenses 0.75%
Waivers 0.00%
Total Net Expenses 0.75%

Portfolio

Index represents the Russell MidCap® Growth Index.

Top Holdings (As of 05/31/2020)
% of Fund
Nice Ltd (ADR) 2.82
Constellation Software Inc/Canada 2.78
SS&C Technologies Holdings Inc 2.47
Microchip Technology Inc 2.42
Global Payments Inc 2.34
Aon PLC 2.31
Crown Castle International Corp 2.25
PerkinElmer Inc 2.18
GoDaddy Inc 2.10
Broadridge Financial Solutions Inc 2.04
Total 23.71
View full holdings
Portfolio Characteristics (As of 05/31/2020)
  FUND INDEX
Number of Holdings
Equity Issues
81 405
Market Capitalization
Weighted Average
$21.15B $21.60B
Portfolio Turnover Rate
(1-year trailing)
11.75% -
Price/Earnings Ratio
(1-year forward)
29.11 36.90
Price/Book Ratio
(1-year forward)
4.32 7.70
Earnings Growth Rate
(1-year forward)
-7.42% -10.40%

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 05/31/2020)
Information Technology 34.93 36.04
Health Care 18.92 17.03
Industrials 15.77 15.25
Financials 11.54 4.16
Consumer Discretionary 6.84 14.04
Real Estate 3.63 2.70
Energy 1.59 0.78
Materials 1.03 2.48
Utilities 0.64 -
Communication Services 0.50 4.26
Cash & Equivalents 4.61 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 05/31/2020)
North America 89.48 97.95
Africa/Mideast 2.83 -
Asia/Pacific Ex Japan 1.60 1.32
Europe 1.48 0.73
Cash & Equivalents 4.61 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 05/31/2020)
Over $100B 0.68
$50B to $100B 8.33 5.25
$10B to $50B 62.53 74.94
$5B to $10B 14.67 15.32
$1B to $5B 8.98 4.49
N/A 0.20
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 05/31/2020)
U.S. 83.50 97.95
Non-U.S. Developed 11.89 1.42
Cash & Equivalents 4.61 -

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