For Institutional Investors in the US

US Small Cap Value

Defensive Small-Cap U.S. Value Equities

Overview

ABOUT THIS STRATEGY

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.

INVESTMENT APPROACH

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)
Composite Gross Composite Net Russell 2000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(07/01/1988)
Composite Gross 15.57 15.57 61.04 7.72 11.15 9.53 12.70
Composite Net 15.32 15.32 59.65 6.76 10.16 8.56 11.46
Russell 2000® Value Index 21.17 21.17 97.05 11.57 13.56 10.06 10.71
RETURNS (%) (As of 04/30/2021)
Composite Gross Composite Net Russell 2000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(07/01/1988)
Composite Gross 19.79 19.22 50.21 8.78 11.74 9.62 12.78
Composite Net 19.54 18.88 48.91 7.81 10.75 8.65 11.53
Russell 2000® Value Index 17.44 23.62 78.96 11.68 13.54 10.10 10.74

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