For Financial Professionals in the US

JMGRX Enterprise Fund

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

NAV
$164.54
As of 12/02/2020

1-Day Change
$0.10 (0.06%)
As of 12/02/2020

YTD Return
15.44%
As of 12/02/2020

Morningstar Rating

As of 10/31/2020

Morningstar Analyst Rating
Morningstar Analyst Rating				Silver
As of 10/31/2020

Overview

Quarterly Update

Watch the investment team recap this quarter.

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 (509 funds) as of 9/30/20


Enterprise Fund 3-Year rankings in Morningstar Mid Cap Growth Category as of 9/30/20: Alpha – 65th percentile ranked 423 of 584 funds, Sharpe Ratio – 64th percentile ranked 424 of 584 funds, Standard Deviation – 72nd percentile ranked 425 of 584 funds and Beta – 73rd percentile ranked 436 of 584 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 09/30/2020)
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 7.13 0.25 6.20 12.34 14.85 14.25 11.21
Russell MidCap® Growth Index 9.37 13.92 23.23 16.23 15.53 14.55 10.72
RETURNS (%) (As of 11/30/2020)
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 10.98 14.25 16.63 15.33 16.17 15.13 11.66
Russell MidCap® Growth Index 11.98 29.38 30.90 18.84 17.01 15.20 11.16
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 09/30/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 87 65 39 35 38
Mid-Cap Growth Category|Rank/Count 546/611 431/584 247/560 197/509 58/137
(As Of 10/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 88 68 43 33 38
Mid-Cap Growth Category|Rank/Count 542/611 443/586 280/559 182/509 59/137
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 10/31/2020 Class I Shares)

RISK / REWARD
VS. Russell MidCap® Growth Index
3YR 5YR
Information Ratio -0.87 -0.17
Alpha -2.74 0.28
Tracking Error 4.74 4.08
Beta 0.94 0.93
R-squared (%) 94.69 94.30
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index
3YR 5YR
Up Capture Ratio 84.63 92.83
Down Capture Ratio 96.00 92.67
STANDARD DEVIATION 3YR 5YR
Enterprise Fund 19.86 16.43
Russell MidCap® Growth Index 20.56 17.08
SHARPE RATIO 3YR 5YR
Enterprise Fund 0.48 0.75
Russell MidCap® Growth Index 0.66 0.76
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS I SHARES
Management Fees 0.64%
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 10/31/2020)
% of Fund
Nice Ltd (ADR) 2.72
SS&C Technologies Holdings Inc 2.61
Microchip Technology Inc 2.49
Broadridge Financial Solutions Inc 2.39
Aon PLC 2.23
Global Payments Inc 2.12
Cooper Cos Inc 2.10
GoDaddy Inc 1.98
KLA Corp 1.97
TE Connectivity Ltd 1.96
Total 22.57
View full holdings
Portfolio Characteristics (As of 10/31/2020)
  FUND INDEX
Number of Holdings
Equity Issues
87 340
Market Capitalization
Weighted Average
$20.32B $20.51B
Portfolio Turnover Rate
(1-year trailing)
14.22% -
Price/Earnings Ratio
(1-year forward)
27.41 42.19
Price/Book Ratio
(1-year forward)
4.60 11.94
Earnings Growth Rate
(1-year forward)
-3.63% 6.82%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 10/31/2020)
Information Technology 36.67 36.60
Health Care 19.20 22.74
Industrials 15.20 12.11
Financials 10.60 3.55
Consumer Discretionary 8.41 10.95
Real Estate 2.34 1.36
Utilities 1.31 0.09
Materials 1.31 2.26
Energy 1.29 0.40
Communication Services 0.54 5.86
Cash & Equivalents 3.13 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 10/31/2020)
North America 90.30 98.17
Africa/Mideast 2.78 -
Europe 2.09 1.11
Asia/Pacific Ex Japan 1.70 0.14
Cash & Equivalents 3.13 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 10/31/2020)
Over $100B 0.69
$50B to $100B 3.39
$10B to $50B 65.60 84.00
$5B to $10B 21.38 13.12
$1B to $5B 5.49 2.88
N/A 0.32
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 10/31/2020)
U.S. 84.44 98.17
Non-U.S. Developed 12.43 1.11
Cash & Equivalents 3.13 -

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