JMGRX Enterprise Fund

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

NAV
$109.72
As of 03/30/2020

1-Day Change
$2.99 (2.80%)
As of 03/30/2020

YTD Return
-23.02%
As of 03/30/2020

Morningstar Rating

As of 02/29/2020

Morningstar Analyst Rating
Morningstar Analyst Rating				 Silver
As of 02/29/2020

Overview

Navigate Uncertainty

Watch now for a current market perspective and outlook from the investment team

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

3 Year Rankings in Morningstar Mid-Cap Growth Category (600 funds) as of 12/31/19


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 12/31/2019)
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 5.93 35.27 35.27 19.26 14.49 15.47 11.53
Russell MidCap® Growth Index 8.17 35.47 35.47 17.36 11.60 14.24 10.50
RETURNS (%) (As of 02/29/2020)
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 -5.36 -7.29 6.99 14.00 11.45 14.55 11.15
Russell MidCap® Growth Index -4.92 -6.02 7.86 12.63 9.14 13.44 10.19
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 12/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 31 19 5 7 26
Mid-Cap Growth Category|Rank/Count 228/625 132/600 28/566 32/515 35/136
(As Of 02/29/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 51 25 13 10 28
Mid-Cap Growth Category|Rank/Count 367/622 178/600 73/564 52/513 39/136
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 02/29/2020 Class I Shares)

RISK / REWARD
VS. Russell MidCap® Growth Index
3YR 5YR
Information Ratio 0.36 0.70
Alpha 2.57 3.05
Tracking Error 3.76 3.29
Beta 0.88 0.89
R-squared (%) 93.86 94.63
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index
3YR 5YR
Up Capture Ratio 94.10 98.15
Down Capture Ratio 82.33 82.84
STANDARD DEVIATION 3YR 5YR
Enterprise Fund 13.49 12.63
Russell MidCap® Growth Index 14.78 13.78
SHARPE RATIO 3YR 5YR
Enterprise Fund 0.91 0.82
Russell MidCap® Growth Index 0.74 0.58
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 02/29/2020)
% of Fund
Nice Ltd (ADR) 2.39
Constellation Software Inc/Canada 2.38
Aon PLC 2.33
Global Payments Inc 2.30
Microchip Technology Inc 2.20
Cooper Cos Inc 2.10
SS&C Technologies Holdings Inc 2.03
Intact Financial Corp 1.88
GoDaddy Inc 1.83
Boston Scientific Corp 1.83
Total 21.27
View full holdings
Portfolio Characteristics (As of 02/29/2020)
  FUND INDEX
Number of Holdings
Equity Issues
84 402
Market Capitalization
Weighted Average
$20.19B $19.60B
Portfolio Turnover Rate
(1-year trailing)
11.44% -
Price/Earnings Ratio
(1-year forward)
20.64 27.14
Price/Book Ratio
(1-year forward)
4.79 7.03
Earnings Growth Rate
(1-year forward)
9.64% 9.99%

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 02/29/2020)
Information Technology 32.53 34.73
Health Care 17.08 15.23
Industrials 16.98 16.90
Financials 12.46 4.42
Consumer Discretionary 7.18 14.19
Real Estate 3.47 2.90
Energy 1.66 1.08
Materials 0.93 2.68
Communication Services 0.54 4.67
Cash & Equivalents 7.17 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 02/29/2020)
North America 87.69 98.22
Africa/Mideast 2.40 -
Europe 1.54 0.54
Asia/Pacific Ex Japan 1.20 1.24
Cash & Equivalents 7.17 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 02/29/2020)
Over $100B 0.65
$50B to $100B 7.68 5.48
$10B to $50B 51.41 69.30
$5B to $10B 24.67 21.30
$1B to $5B 8.19 3.92
N/A 0.23
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 02/29/2020)
U.S. 81.77 98.22
Non-U.S. Developed 11.06 1.11
Cash & Equivalents 7.17 -

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