For Institutional Investors 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
$160.46
As of 01/15/2021

1-Day Change
-$1.42 (-0.88%)
As of 01/15/2021

YTD Return
1.53%
As of 01/15/2021

Morningstar Rating

As of 12/31/2020

Morningstar Analyst Rating
Morningstar Analyst Rating				Silver
As of 12/31/2020

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 (512 funds) as of 12/31/20


Enterprise Fund 3-Year rankings in Morningstar Mid Cap Growth Category as of 12/31/20: Alpha – 62nd percentile ranked 406 of 589 funds, Sharpe Ratio – 61st percentile ranked 408 of 589 funds, Standard Deviation – 68th percentile ranked 388 of 589 funds and Beta – 68th percentile ranked 398 of 589 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 12/31/2020)
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 20.02 20.32 20.32 17.28 18.00 14.93 11.83
Russell MidCap® Growth Index 19.02 35.59 35.59 20.50 18.66 15.04 10.72
RETURNS (%) (As of 12/31/2020)
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 20.02 20.32 20.32 17.28 18.00 14.93 11.83
Russell MidCap® Growth Index 19.02 35.59 35.59 20.50 18.66 15.04 11.16
CALENDAR YEAR RETURNS (%)
Enterprise Fund - Class I Shares Russell MidCap® Growth Index
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Enterprise Fund - Class I Shares -1.65 17.83 30.86 12.01 3.49 12.08 26.53 -0.90 35.27 20.32
Russell MidCap® Growth Index -1.65 15.81 35.74 11.90 -0.20 7.33 25.27 -4.75 35.47 35.59

MORNINGSTAR PERCENTILE

(As Of 12/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 85 61 42 30 39
Mid-Cap Growth Category|Rank/Count 533/609 403/589 277/563 172/512 60/137
(As Of 12/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 85 61 42 30 39
Mid-Cap Growth Category|Rank/Count 533/609 403/589 277/563 172/512 60/137

RETURNS-BASED STATISTICS (As of 12/31/2020 Class I Shares)

RISK / REWARD
VS. Russell MidCap® Growth Index
3YR 5YR
Information Ratio -0.68 -0.16
Alpha -1.89 0.35
Tracking Error 4.76 4.06
Beta 0.96 0.95
R-squared (%) 95.22 94.86
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index
3YR 5YR
Up Capture Ratio 88.96 93.42
Down Capture Ratio 96.00 91.96
STANDARD DEVIATION 3YR 5YR
Enterprise Fund 21.36 17.42
Russell MidCap® Growth Index 21.75 17.90
SHARPE RATIO 3YR 5YR
Enterprise Fund 0.74 0.97
Russell MidCap® Growth Index 0.87 0.98
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 12/31/2020)
% of Fund
Nice Ltd (ADR) 2.90
SS&C Technologies Holdings Inc 2.75
Microchip Technology Inc 2.65
Broadridge Financial Solutions Inc 2.30
KLA Corp 2.24
Aon PLC 2.21
TE Connectivity Ltd 2.11
Cooper Cos Inc 2.07
GoDaddy Inc 2.01
Global Payments Inc 1.97
Total 23.21
View Full Holdings
Portfolio Characteristics (As of 12/31/2020)
  FUND INDEX
Number of Holdings
Equity Issues
86 347
Market Capitalization
Weighted Average
$24.14B $24.59B
Portfolio Turnover Rate
(1-year trailing)
12.78% -
Price/Earnings Ratio
(1-year forward)
31.47 50.59
Price/Book Ratio
(1-year forward)
5.58 13.84
Earnings Growth Rate
(1-year forward)
0.69% 12.89%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 12/31/2020)
Information Technology 39.40 38.76
Health Care 18.90 21.67
Industrials 15.45 11.61
Financials 10.77 3.47
Consumer Discretionary 7.02 10.40
Real Estate 2.20 1.37
Energy 1.33 0.42
Materials 1.31 2.05
Utilities 1.15 0.09
Communication Services 0.55 6.63
Cash & Equivalents 1.92 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of December 31, 2020)
North America 91.12 97.86
Africa/Mideast 2.91 0.02
Europe 2.25 1.22
Asia/Pacific Ex Japan 1.80 0.14
Cash & Equivalents 1.92 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of December 31, 2020)
Over $100B 0.58
$50B to $100B 11.17 2.39
$10B to $50B 59.73 86.19
$5B to $10B 22.40 9.50
$1B to $5B 3.82 1.92
N/A 0.38
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of December 31, 2020)
U.S. 85.06 97.86
Non-U.S. Developed 13.02 1.25
Cash & Equivalents 1.92 -

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