For Institutional Investors in the US

JSCOX Small Cap Value Fund

Defensive-minded specialists aiming to identify undervalued small-cap opportunities

NAV
$24.41
As of 06/18/2021

1-Day Change
-$0.59 (-2.36%)
As of 06/18/2021

YTD Return
14.87%
As of 06/18/2021

Morningstar Rating

As of 05/31/2021

Morningstar Analyst Rating
Morningstar Analyst Rating				Bronze
As of 05/31/2021

Overview

Quarterly Update

Watch the investment team recap this quarter.

ABOUT THIS FUND

As defensive value specialists, we look to invest in high quality companies with strong management teams, stable balance sheets, and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down market capture.

WHY INVEST IN THIS FUND

Attractive Reward/Risk
Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.

High-Conviction Process
The portfolio typically holds between 60 to 90 stocks with business fundamentals considered more important than fluctuations in the wider economy.

Different Than the Benchmark
The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

PORTFOLIO MANAGEMENT

Justin Tugman, CFA

Portfolio Manager

Industry since 2000. Joined Firm in 2004.

Craig Kempler, CFA

Portfolio Manager

Industry since 2001. Joined Firm in 2005.

Performance

RETURNS (%) (As of 03/31/2021)
Small Cap Value Fund - Class I Shares Russell 2000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(10/21/1987)
Small Cap Value Fund - Class I Shares 15.29 15.29 59.48 6.75 10.12 8.57 N/A
Russell 2000® Value Index 21.17 21.17 97.05 11.57 13.56 10.06 N/A
RETURNS (%) (As of 05/31/2021)
Small Cap Value Fund - Class I Shares Russell 2000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(10/21/1987)
Small Cap Value Fund - Class I Shares 9.19 20.24 46.42 7.10 10.28 9.02 N/A
Russell 2000® Value Index 10.69 27.47 79.38 10.72 13.83 10.64 N/A
CALENDAR YEAR RETURNS (%)
Small Cap Value Fund - Class I Shares Russell 2000® Value Index
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Small Cap Value Fund - Class I Shares -3.28 9.13 29.82 7.42 -2.56 26.45 12.81 -13.04 26.11 -6.76
Russell 2000® Value Index -5.50 18.05 34.52 4.22 -7.47 31.74 7.84 -12.86 22.39 4.63

MORNINGSTAR PERCENTILE

(As Of 03/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 99 85 74 69 N/A
Small Value Category|Rank/Count 427/434 360/418 308/411 258/365 N/A
(As Of 05/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 99 85 81 74 N/A
Small Value Category|Rank/Count 426/437 369/423 342/418 286/380 N/A

RETURNS-BASED STATISTICS (As of 05/31/2021 Class I Shares)

RISK / REWARD
VS. Russell 2000® Value Index
3YR 5YR
Information Ratio -0.49 -0.54
Alpha -1.86 -0.81
Tracking Error 7.45 6.56
Beta 0.81 0.79
R-squared (%) 93.99 93.49
UP/DOWN MARKET CAPTURE (%)
VS. Russell 2000® Value Index
3YR 5YR
Up Capture Ratio 76.75 74.66
Down Capture Ratio 86.31 80.76
STANDARD DEVIATION 3YR 5YR
Small Cap Value Fund 22.54 18.31
Russell 2000® Value Index 26.85 22.31
SHARPE RATIO 3YR 5YR
Small Cap Value Fund 0.25 0.50
Russell 2000® Value Index 0.35 0.57
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/20)
CLASS I SHARES
Management Fees 0.82%
Other Expenses 0.19%
Total Gross Expenses 1.01%
Waivers 0.00%
Total Net Expenses 1.01%

Portfolio

Index represents the Russell 2000® Value Index.

Top Holdings (As of 05/31/2021)
% of Fund
United Community Banks Inc/GA 2.42
STAG Industrial Inc 2.34
Atlantic Union Bankshares Corp 2.30
First Horizon Corp 2.25
UniFirst Corp/MA 2.22
United Bankshares Inc/WV 2.12
Sunstone Hotel Investors Inc 2.07
Ameris Bancorp 2.05
GrafTech International Ltd 2.01
Eagle Materials Inc 1.94
Total 21.72
View Full Holdings
Portfolio Characteristics (As of 05/31/2021)
  FUND INDEX
Number of Holdings
Equity Issues
80 1493
Market Capitalization
Weighted Average
$3.91B $3.32B
Portfolio Turnover Rate
(1-year trailing)
53.35% -
Price/Earnings Ratio
(1-year forward)
19.39 18.49
Price/Book Ratio
(1-year forward)
2.85 2.23
Earnings Growth Rate
(1-year forward)
22.54% 28.61%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 05/31/2021)
Financials 26.01 26.91
Industrials 24.23 16.93
Consumer Discretionary 10.80 14.49
Information Technology 8.93 5.43
Materials 7.21 6.64
Real Estate 6.35 8.36
Health Care 4.98 6.01
Consumer Staples 3.54 3.29
Utilities 2.39 3.68
Energy 2.36 5.24
Communication Services 1.50 3.02
Cash & Equivalents 1.70 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of May 31, 2021)
North America 95.24 99.36
Asia/Pacific Ex Japan 1.63 -
Europe 1.43 0.48
Cash & Equivalents 1.70 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of May 31, 2021)
$10B to $50B 2.25 4.92
$5B to $10B 25.26 11.13
$1B to $5B 64.23 68.77
$500M to $1B 5.82 10.21
$250M to $500M 0.74 3.45
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of May 31, 2021)
U.S. 95.24 99.10
Non-U.S. Emerging 1.63 0.05
Non-U.S. Developed 1.43 0.85
Cash & Equivalents 1.70 -

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