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
$128.63
As of 05/26/2023

1-Day Change
$1.64 (1.29%)
 As of 05/26/2023

YTD Return
6.63%
As of 05/26/2023

Morningstar Rating

As of 04/30/2023

View Institutional Strategy

Overview

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 that exhibit 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 (489 funds) as of 3/31/23
Enterprise Fund Proof Point Chart Q1 2023

Enterprise Fund 3-Year rankings in Morningstar Mid Cap Growth Category as of 3/31/23: Alpha – 9th percentile ranked 36 of 545 funds, Sharpe Ratio – 5th percentile ranked 23 of 545 funds, Standard Deviation – 94th percentile ranked 514 of 545 funds and Beta – 94th percentile ranked 511 of 545 funds.

Past performance is no guarantee of future results.

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 03/31/2023)
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 8.49 8.49 -2.10 19.23 10.46 12.99 11.16
Russell MidCap® Growth Index 9.14 9.14 -8.52 15.20 9.07 11.17 10.06
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

RETURNS (%) (As of 04/30/2023)
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 -2.58 6.54 4.37 13.38 10.57 12.79 11.06
Russell MidCap® Growth Index -1.08 7.56 1.60 9.21 8.96 10.84 9.98
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Calendar Year Returns (%)
Enterprise Fund - Class I Shares Russell MidCap® Growth Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Enterprise Fund - Class I Shares -16.01 17.40 20.32 35.27 -0.90 26.53 12.08 3.49 12.01 30.86
Russell MidCap® Growth Index -26.72 12.73 35.59 35.47 -4.75 25.27 7.33 -0.20 11.90 35.74

MORNINGSTAR PERCENTILE

(As Of 03/31/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 4 12 15 6 12
Mid-Cap Growth | Rank/Count 21/579 50/545 73/529 27/489 18/128
(As Of 04/30/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 6 14 12 5 13
Mid-Cap Growth | Rank / Count 26/555 55/525 54/508 22/469 20/126

RETURNS-BASED STATISTICS (As of 04/30/2023 Class I Shares)

RISK / REWARD
VS. Russell MidCap® Growth Index		 3YR 5YR
Information Ratio 0.46 0.21
Alpha 5.77 2.69
Tracking Error 9.02 7.58
Beta 0.78 0.86
R-squared (%) 82.74 88.29
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index		 3YR 5YR
Up Capture Ratio 88.63 88.48
Down Capture Ratio 73.94 82.81
STANDARD DEVIATION 3YR 5YR
Enterprise Fund 18.41 20.17
Russell MidCap® Growth Index 21.52 22.08
SHARPE RATIO 3YR 5YR
Enterprise Fund 0.67 0.45
Russell MidCap® Growth Index 0.38 0.34
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2022)
CLASS I SHARES
Management Fees 0.64%
Other Expenses 0.12%
Total Gross Expenses 0.76%
Waivers 0.00%
Total Net Expenses 0.76%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on January 27, 2023. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the Russell MidCap® Growth Index.

Top Holdings (As of 04/30/2023)
% of Fund
ON Semiconductor Corp 4.08
Constellation Software Inc/Canada 3.54
Boston Scientific Corp 3.07
Intact Financial Corp 2.92
SS&C Technologies Holdings Inc 2.85
Amdocs Ltd 2.78
Teleflex Inc 2.56
GoDaddy Inc 2.45
WEX Inc 2.33
Magellan Midstream Partners LP 2.24
Total 28.82
View full holdings
Portfolio Characteristics (As of 04/30/2023)
  FUND INDEX
Number of Holdings
Equity Issues		 77 397
Market Capitalization
Weighted Average		 $21.38B $24.62B
Portfolio Turnover Rate
(1-year trailing)		 10.55% -
Price/Earnings Ratio
(1-year forward)		 17.16 20.70
Price/Book Ratio
 3.36 6.23
Earnings Growth Rate
(1-year forward)		 7.52% 17.73%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of April 30, 2023)
Market Capitalization Range of Equity Holdings % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of April 30, 2023)

Documents

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Our intellectual capital is readily available and central to our Knowledge Shared approach"
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