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Objective
Seeks long-term growth of capital.
Overview
A mid-cap fund that seeks to invest in “blue-chip” companies that are industry leaders
Style Purity
The Fund strives for style purity, with a majority of the Fund invested in mid-cap companies with a market capitalization between $2 billion and $10 billion.
“Blue-Chip” Mid-Cap Companies
The Fund focuses on blue-chip mid-cap companies that the Fund’s management believes are strong industry leaders with strong balance sheets and/or superior management teams.
The Equity Sweet Spot
Based on the market-cap life cycle, mid-cap companies may offer investors the potential for more growth than large-cap companies and less volatility than small-cap companies.
Portfolio Management
13
YRS
MANAGING THIS FUND
19
YRS
AT WELLINGTON MANAGEMENT
30
YRS
EXPERIENCE IN THIS INDUSTRY
13
YRS
MANAGING THIS FUND
19
YRS
AT WELLINGTON MANAGEMENT
24
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio managers are supported by the full resources of Wellington.
Performance
PERFORMANCE %
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
SI = Since Inception.
Fund Inception: 12/31/1997
Share Class Inception: 2/27/09.
Class I-share performance prior to its inception date reflects Class A-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 12/31/97.
Characteristics
FUND STATS
| # of Holdings | 99 |
|---|---|
| % in Equities | 100 |
| % in Foreign Equities | 2 |
| Beta (3 year) | 0.98 |
| R Squared (3 year) | 0.94 |
| Standard Deviation | 20.47% |
| Turnover- (6/30/2023) | 37% |
| Active Share | 89% |
Holdings Characteristics
| FUND | S&P MidCap 400 Index | |
|---|---|---|
| Price/Earnings | 20.7x | 13.1x |
| Price/Book | 4.2x | 2.4x |
| EPS Growth Rate | 12.7% | 11.7% |
| Asset Weighted Market Cap (billions) | $14.2 | $7.7 |
| Return on Equity | 11.1% | 18.1% |
| Median Market Cap (billions) | $11.5 | $5.6 |
Market Cap Distribution (%)
| Less than $2 billion | 0 | |
| $2 billion - $5 billion | 13 | |
| $5 billion - $10 billion | 21 | |
| Greater than $10 billion | 66 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
-2.63 |
|
Down Capture (5 Year)
|
94.52 |
|
Information Ratio (5 Year)
|
-0.54 |
|
Sharpe Ratio (5 Year)
|
0.20 |
|
Up Capture (5 Year)
|
86.87 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 6/30/23 | 8/31/23 | 8/31/23 | -14 0 14 | ||||
| Health Care | 22 | 23 | 9 | ||||
| Information Technology | 18 | 19 | 10 | ||||
| Energy | 5 | 5 | 5 | ||||
| Communication Services | 2 | 2 | 2 | ||||
| Industrials | 22 | 22 | 23 | ||||
| Utilities | 1 | 1 | 3 | ||||
| Financials | 11 | 11 | 14 | ||||
| Consumer Staples | 1 | 1 | 4 | ||||
| Consumer Discretionary | 11 | 11 | 15 | ||||
| Materials | 4 | 3 | 7 | ||||
| Real Estate | 1 | 1 | 7 | ||||
Based on Global Industry Classification Standard (GICS), which was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. (S&P). Excludes cash. May not total to 100% due to rounding and/or pooled vehicle allocations.
Past distributions are not indicative of future distributions.
Insights
Fund Literature
06/30/2023 - PDF (196 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
06/30/2023 - PDF (248 KB)
This Fund Story outlines three distinguishing characteristics to help investors better understand the Fund.
06/30/2023 - PDF (136 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the fund.
06/30/2023 - PDF (289 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
PDF (139 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
06/30/2023 - PDF (472 KB)
This Pitchbook reviews the Fund's investment approach, investment team, investment process, and general portfolio parameters.
PDF (3 KB)
An unaudited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A legal document that discloses essential information about a fund, including investment objectives, risks, fees, expenses, fund manager background and other information.
PDF (3 KB)
An audited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Mid-cap securities can have greater risks and volatility than large-cap securities. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended.
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