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Objective
Seeks growth of capital.
Overview
A small-cap fund with a dual focus on emerging and reemerging growth companies.
Portfolio Management
3
YRS
MANAGING THIS FUND
9
YRS
AT WELLINGTON MANAGEMENT
27
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio manager is 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: 07/22/1996
Share Class Inception: 8/31/06.
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 7/22/96.
Characteristics
FUND STATS
| # of Holdings | 103 |
|---|---|
| % in Equities | 99 |
| % in Foreign Equities | 6 |
| Beta (3 year) | 0.93 |
| R Squared (3 year) | 0.94 |
| Standard Deviation | 22.36% |
| Turnover- (9/30/2023) | 53% |
| Active Share | 86% |
Holdings Characteristics
| FUND | Russell 2000 Growth Index | |
|---|---|---|
| Price/Earnings | 23.6x | 25.6x |
| EPS Growth Rate | 21.3% | 17.5% |
| Asset Weighted Market Cap (billions) | $4.2 | $3.1 |
| Return on Equity | 5.3% | 3.4% |
| Median Market Cap (billions) | $3.3 | $1.0 |
Market Cap Distribution (%)
| Less than $2 billion | 14 | |
| $2 billion - $5 billion | 55 | |
| $5 billion - $10 billion | 28 | |
| Greater than $10 billion | 3 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
2.47 |
|
Down Capture (5 Year)
|
98.78 |
|
Information Ratio (5 Year)
|
0.44 |
|
Sharpe Ratio (5 Year)
|
0.25 |
|
Up Capture (5 Year)
|
105.97 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 9/30/23 | 10/31/23 | 10/31/23 | -5 0 5 | ||||
| Industrials | 24 | 24 | 20 | ||||
| Consumer Discretionary | 13 | 13 | 11 | ||||
| Communication Services | 4 | 4 | 2 | ||||
| Health Care | 22 | 22 | 21 | ||||
| Real Estate | 3 | 3 | 2 | ||||
| Energy | 6 | 6 | 6 | ||||
| Consumer Staples | 5 | 5 | 5 | ||||
| Materials | 3 | 3 | 4 | ||||
| Utilities | 0 | 0 | 2 | ||||
| Financials | 4 | 4 | 7 | ||||
| Information Technology | 17 | 16 | 21 | ||||
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
09/30/2023 - PDF (174 KB)
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
09/30/2023 - PDF (284 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
09/30/2023 - PDF (172 KB)
Attribution analysis is a method for evaluating the performance of a portfolio compared to the benchmark.
09/30/2023 - PDF (172 KB)
Attribution analysis is a method for evaluating the performance of a portfolio compared to the benchmark.
PDF (140 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
09/30/2023 - PDF (663 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. • Small-cap securities can have greater risks, including liquidity risk, and volatility than large-cap securities. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • 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. • The Fund may have high portfolio turnover, which could increase its transaction costs and an investor's tax liability.
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