For Financial Professionals in the US

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 rapid 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 that exhibit 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 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-sized companies with resilient business models and is designed to weather a variety of market environments and take on moderately less risk than the index.

PORTFOLIO MANAGEMENT

Brian Demain, CFA

Brian Demain, CFA

Portfolio Manager

Industry since 1999. Joined Firm in 1999.

Philip Cody Wheaton, CFA

Philip Cody Wheaton, CFA

Portfolio Manager | Research Analyst

Industry since 2001. Joined Firm in 2001.

Performance

RETURNS (%) (As of 06/30/2021)
Composite Pure Gross* Composite Net Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/2006)
Composite Pure Gross* 4.36 9.16 41.65 18.99 19.46 15.90 13.03
Composite Net 3.60 7.58 37.62 15.56 16.01 12.55 9.75
Russell MidCap® Growth Index 11.07 10.44 43.77 22.39 20.52 15.13 11.63
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. All returns reflect the reinvestment of dividends and other earnings.
*Pure gross performance results do not reflect the deduction of any trading costs, fees or expenses and returns will be reduced by such advisory fee and other contractual expenses as described in the individual contract and Form ADV Part 2A. Pure gross returns are supplemental to net returns.
Net returns are calculated by subtracting the highest applicable Managed Account fee (3.00% annually, or 0.25% monthly) from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.
RETURNS (%) (As of 08/31/2021)
Composite Pure Gross* Composite Net Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/2006)
Composite Pure Gross* 4.61 13.51 33.11 17.84 19.14 17.55 13.16
Composite Net 3.85 11.32 29.31 14.44 15.70 14.16 9.88
Russell MidCap® Growth Index 11.38 15.18 35.17 20.96 20.44 16.88 11.63
Past performance cannot guarantee future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Returns greater than one year are annualized. Returns are expressed in U.S. dollars. All returns reflect the reinvestment of dividends and other earnings.
*Pure gross performance results do not reflect the deduction of any trading costs, fees or expenses and returns will be reduced by such advisory fee and other contractual expenses as described in the individual contract and Form ADV Part 2A. Pure gross returns are supplemental to net returns.
Net returns are calculated by subtracting the highest applicable Managed Account fee (3.00% annually, or 0.25% monthly) from the pure gross or gross composite return. The Managed Account fee includes all charges for trading costs, portfolio management, custody and other administrative fees. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. The fees are available on request and may be found in Form ADV Part 2A.

RETURNS-BASED STATISTICS (Composite As of 09/30/2021)

RISK / REWARD
VS. Russell MidCap® Growth Index		 3YR 5YR
Information Ratio -0.33 -0.16
Alpha -0.45 0.75
Tracking Error 7.14 5.94
Beta 0.91 0.92
R-squared (%) 89.55 88.91
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index		 3YR 5YR
Up Capture Ratio 86.43 91.87
Down Capture Ratio 89.47 90.39
STANDARD DEVIATION 3YR 5YR
Mid Cap Growth Managed Account 21.31 17.27
Russell MidCap® Growth Index 22.05 17.77
SHARPE RATIO 3YR 5YR
Mid Cap Growth Managed Account 0.73 1.00
Russell MidCap® Growth Index 0.82 1.02

Portfolio

Index represents the Russell MidCap® Growth Index.

Top Holdings (As of 09/30/2021)
% of Rep Account
LPL Financial Holdings Inc 3.47
KLA Corp 3.38
Nice Ltd (ADR) 3.23
ON Semiconductor Corp 3.09
TE Connectivity Ltd 2.83
Boston Scientific Corp 2.72
JB Hunt Transport Services Inc 2.71
SS&C Technologies Holdings Inc 2.67
Rexnord Corp 2.67
Aon PLC 2.49
Total 29.26
View Full Holdings
Portfolio Characteristics (As of 09/30/2021)
  REP ACCOUNT INDEX
Number of Holdings
Equity Issues		 55 392
Market Capitalization
Weighted Average		 $25.03B $27.67B
Portfolio Turnover Rate
(1-year trailing)		 13.25% -
Price/Earnings Ratio
(1-year forward)		 26.72 41.57
Price/Book Ratio
(1-year forward)		 6.10 13.08
Earnings Growth Rate
(1-year forward)		 24.63% 36.19%
Sector Allocation % OF REP ACCOUNT % of Index % OF REP ACCOUNT % of Index (As of 09/30/2021)
Information Technology 35.88 34.32
Health Care 17.19 17.82
Industrials 15.15 14.40
Financials 11.40 5.04
Consumer Discretionary 7.76 16.31
Real Estate 2.77 1.91
Utilities 1.99 0.14
Materials 1.82 1.75
Communication Services 1.79 4.92
Cash & Equivalents 4.25 -
Regional Allocations % OF REP ACCOUNT % of Index % OF REP ACCOUNT % of Index (As of 09/30/2021)
North America 89.35 98.36
Africa/Mideast 4.42 0.26
Europe 1.98 0.83
Cash & Equivalents 4.25 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF REP ACCOUNT % OF INDEX % OF REP ACCOUNT % OF INDEX (As of 09/30/2021)
Over $100B 1.50
$50B to $100B 12.46 9.45
$10B to $50B 59.33 78.28
$5B to $10B 18.20 10.39
$1B to $5B 4.26 1.88
Developed VS Emerging Markets % OF REP ACCOUNT % of Index % OF REP ACCOUNT % of Index (As of 09/30/2021)
U.S. 86.19 98.37
Non-U.S. Developed 9.56 1.12
Cash & Equivalents 4.25 -

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