Mid Cap Growth Managed Account

Time-tested investment team seeks high-quality, mid-cap companies with strong growth characteristics.

Overview

ABOUT THIS PORTFOLIO

By taking a moderate approach to an asset class with potential for fast growth, this mid-cap growth portfolio 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 PORTFOLIO

“Smart Growth” Approach
The Portfolio’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 Portfolio benefits from in-depth fundamental research, supported by a broad team of analysts, a team of small-mid-cap specialists, and a portfolio management team with experience in the mid-cap space.

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

Seeking Long-Term, Sustainable Growth Driven by a Time-Tested Philosophy

(as of 6/30/20)

Capture Ratio measures the percentage of index (market) performance an investment “captured” during periods when the index achieved gains (up capture) or declined (down capture). A capture ratio of 100% means investment performance went up or down exactly the same amount as the index.

Information Ratio is a ratio of portfolio returns above the returns of an index to the volatility of those returns. It is an indicator of portfolio management performance.

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)
Composite Pure Gross* Composite Net Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/2006)
Composite Pure Gross* 23.94 -6.40 0.80 12.26 12.51 15.69 11.28
Composite Net 23.09 -7.80 -2.15 9.01 9.25 12.35 8.05
Russell MidCap® Growth Index 30.26 4.16 11.91 14.76 11.60 15.09 9.96
RETURNS (%) (As of 08/31/2020)
Composite Pure Gross* Composite Net Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/2006)
Composite Pure Gross* 10.76 3.57 11.41 15.05 15.72 16.43 11.92
Composite Net 9.97 1.54 8.18 11.72 12.38 13.07 8.67
Russell MidCap® Growth Index 13.53 15.54 23.56 17.86 14.94 16.03 10.62

RETURNS-BASED STATISTICS (Composite As of 06/30/2020)

RISK / REWARD
VS. Russell MidCap® Growth Index
3YR 5YR
Information Ratio -0.53 0.20
Alpha -1.57 1.52
Tracking Error 4.84 4.30
Beta 0.95 0.93
R-squared (%) 94.24 93.85
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index
3YR 5YR
Up Capture Ratio 88.24 94.78
Down Capture Ratio 94.89 88.49
STANDARD DEVIATION 3YR 5YR
Mid Cap Growth Managed Account 19.75 16.72
Russell MidCap® Growth Index 20.14 17.34
SHARPE RATIO 3YR 5YR
Mid Cap Growth Managed Account 0.53 0.68
Russell MidCap® Growth Index 0.65 0.60

Portfolio

Index represents the Russell MidCap® Growth Index.

Top Holdings (As of 07/31/2020)
% of Rep Account
Nice Ltd (ADR) 3.42
Global Payments Inc 3.06
Verisk Analytics Inc 3.02
SS&C Technologies Holdings Inc 2.87
Aon PLC 2.79
KLA Corp 2.72
Boston Scientific Corp 2.66
Crown Castle International Corp 2.64
Broadridge Financial Solutions Inc 2.63
Microchip Technology Inc 2.61
Total 28.42
View full holdings
Portfolio Characteristics (As of 08/31/2020)
  REP ACCOUNT INDEX
Number of Holdings
Equity Issues
53 329
Market Capitalization
Weighted Average
$22.44B $21.00B
Portfolio Turnover Rate
(1-year trailing)
11.17% -
Price/Earnings Ratio
(1-year forward)
31.12 45.02
Price/Book Ratio
(1-year forward)
5.13 12.57
Earnings Growth Rate
(1-year forward)
-7.37% 3.52%
Sector Allocation % OF REP ACCOUNT % of Index % OF REP ACCOUNT % of Index (As of 07/31/2020)
Information Technology 37.95 36.54
Health Care 19.56 22.90
Industrials 15.31 11.92
Financials 9.88 3.80
Consumer Discretionary 6.72 10.85
Real Estate 4.18 1.40
Materials 1.59 2.15
Cash & Equivalents 4.81 -
Regional Allocations % OF REP ACCOUNT % of Index % OF REP ACCOUNT % of Index (As of 07/31/2020)
North America 88.79 98.14
Africa/Mideast 3.42 -
Asia/Pacific Ex Japan 1.92 0.15
Europe 1.06 1.22
Cash & Equivalents 4.81 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF REP ACCOUNT % OF INDEX % OF REP ACCOUNT % OF INDEX (As of 07/31/2020)
$50B to $100B 11.85
$10B to $50B 57.04 82.50
$5B to $10B 20.43 13.86
$1B to $5B 5.87 3.64
Developed VS Emerging Markets % OF REP ACCOUNT % of Index % OF REP ACCOUNT % of Index (As of 07/31/2020)
U.S. 86.02 98.14
Non-U.S. Developed 9.17 1.22
Cash & Equivalents 4.81 -

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