JMGRX Enterprise Fund

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

NAV
$142.89
As of 09/30/2020

1-Day Change
$0.37 (0.26%)
As of 09/30/2020

YTD Return
0.25%
As of 09/30/2020

Morningstar Rating

As of 08/31/2020

Morningstar Analyst Rating
Morningstar Analyst Rating				Silver
As of 08/31/2020

Overview

Investment Update

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

10 Year Rankings in Morningstar Mid-Cap Growth Category (509 funds) as of 6/30/20


Enterprise Fund 3-Year rankings in Morningstar Mid Cap Growth Category as of 6/30/20: Alpha – 58th percentile ranked 381 of 585 funds, Sharpe Ratio – 56th percentile ranked 377 of 585 funds, Standard Deviation – 71st percentile ranked 414 of 585 funds and Beta – 72nd percentile ranked 441 of 585 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 06/30/2020)
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 23.23 -6.42 0.21 11.65 11.66 15.15 11.05
Russell MidCap® Growth Index 30.26 4.16 11.91 14.76 11.60 15.09 10.47
RETURNS (%) (As of 08/31/2020)
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 10.16 2.95 10.17 14.18 14.73 15.86 11.35
Russell MidCap® Growth Index 13.53 15.54 23.56 17.86 14.94 16.03 10.74
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 06/30/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 86 58 27 24 37
Mid-Cap Growth Category|Rank/Count 538/608 385/585 177/564 131/509 54/135
(As Of 08/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 88 65 33 28 37
Mid-Cap Growth Category|Rank/Count 549/613 423/586 209/562 160/509 56/137

RETURNS-BASED STATISTICS (As of 08/31/2020 Class I Shares)

RISK / REWARD
VS. Russell MidCap® Growth Index
3YR 5YR
Information Ratio -0.78 -0.05
Alpha -2.13 0.79
Tracking Error 4.73 4.06
Beta 0.94 0.93
R-squared (%) 94.69 94.54
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index
3YR 5YR
Up Capture Ratio 85.43 93.17
Down Capture Ratio 93.89 90.46
STANDARD DEVIATION 3YR 5YR
Enterprise Fund 19.76 16.59
Russell MidCap® Growth Index 20.51 17.34
SHARPE RATIO 3YR 5YR
Enterprise Fund 0.63 0.82
Russell MidCap® Growth Index 0.79 0.80
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 08/31/2020)
% of Fund
Microchip Technology Inc 2.69
SS&C Technologies Holdings Inc 2.64
Nice Ltd (ADR) 2.57
Aon PLC 2.27
Constellation Software Inc/Canada 2.24
Broadridge Financial Solutions Inc 2.24
Global Payments Inc 2.23
GoDaddy Inc 2.20
TE Connectivity Ltd 2.12
Boston Scientific Corp 2.02
Total 23.22
View full holdings
Portfolio Characteristics (As of 08/31/2020)
  FUND INDEX
Number of Holdings
Equity Issues
82 329
Market Capitalization
Weighted Average
$22.09B $21.00B
Portfolio Turnover Rate
(1-year trailing)
13.01% -
Price/Earnings Ratio
(1-year forward)
29.23 45.02
Price/Book Ratio
(1-year forward)
4.75 12.57
Earnings Growth Rate
(1-year forward)
-7.48% 3.52%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2020)
Information Technology 37.13 36.73
Health Care 19.99 21.91
Industrials 14.82 12.18
Financials 10.68 3.66
Consumer Discretionary 7.89 11.33
Real Estate 2.58 1.41
Energy 1.29 0.44
Materials 1.22 2.19
Utilities 0.71 0.10
Communication Services 0.55 5.76
Cash & Equivalents 3.14 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of August 31, 2020)
North America 90.69 97.99
Africa/Mideast 2.56 -
Europe 2.01 1.30
Asia/Pacific Ex Japan 1.60 0.16
Cash & Equivalents 3.14 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of August 31, 2020)
Over $100B 0.69
$50B to $100B 7.33 1.30
$10B to $50B 62.24 81.95
$5B to $10B 21.26 13.88
$1B to $5B 5.00 2.87
N/A 0.34
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of August 31, 2020)
U.S. 84.62 98.00
Non-U.S. Developed 12.24 1.30
Cash & Equivalents 3.14 -

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