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Effective 11/1/17, the Fund changed its objective and principal investment strategy. Returns prior to 11/1/17 reflect the performance of the Fund’s prior strategy. Please see the Fund’s prospectus for additional information.
Objective
Seeks long-term capital appreciation.
Overview
A traditional large cap value fund that focuses on investing in high quality, undervalued companies believed to be in out-of-favor industries with less downside risk than the overall market.
Portfolio Management
3
YRS
MANAGING THIS FUND
17
YRS
AT WELLINGTON MANAGEMENT
26
YRS
EXPERIENCE IN THIS INDUSTRY
3
YRS
MANAGING THIS FUND
15
YRS
AT WELLINGTON MANAGEMENT
23
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: 01/02/1996
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 2/19/02.
Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.
Characteristics
FUND STATS
| # of Holdings | 66 |
| % in Equities | 98 |
| % in Foreign Equities | 5 |
| Beta (3 year) | 0.95 |
| R Squared (3 year) | 0.98 |
| Standard Deviation | 19.27% |
| Turnover- (6/30/2021) | 19% |
| Active Share | 75% |
| Dividend Frequency | Annually |
Holdings Characteristics
| FUND | Russell 1000 Value Index | |
|---|---|---|
| Price/Earnings | 15.5x | 16.4x |
| Price/Book | 3.1x | 3.0x |
| EPS Growth Rate | 17.8% | 13.7% |
| Asset Weighted Market Cap (billions) | $143.8 | $152.8 |
| Return on Equity | 25.6% | 16.6% |
| Median Market Cap (billions) | $87.7 | $13.9 |
Top Ten Holdings (%)
Market Cap Distribution (%)
| Less than $2 billion | 0 | |
| $2 billion - $5 billion | 0 | |
| $5 billion - $10 billion | 1 | |
| Greater than $10 billion | 99 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
0.82 |
|
Down Capture (5 Year)
|
96.24 |
|
Information Ratio (5 Year)
|
0.16 |
|
Sharpe Ratio (5 Year)
|
0.74 |
|
Up Capture (5 Year)
|
99.42 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 3/31/21 | 6/30/21 | 6/30/21 | -3 0 3 | ||||
| Financials | 23 | 23 | 21 | ||||
| Industrials | 14 | 14 | 12 | ||||
| Consumer Discretionary | 7 | 8 | 6 | ||||
| Information Technology | 11 | 11 | 10 | ||||
| Energy | 7 | 5 | 5 | ||||
| Utilities | 5 | 5 | 5 | ||||
| Materials | 4 | 4 | 4 | ||||
| Health Care | 13 | 16 | 17 | ||||
| Consumer Staples | 6 | 6 | 7 | ||||
| Real Estate | 4 | 4 | 5 | ||||
| Communication Services | 5 | 5 | 8 | ||||
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
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
06/30/2021 - PDF (168 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 (143 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
06/30/2021 - PDF (537 KB)
This Pitchbook reviews the Funds' 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. • Different investment styles may go in and out of favor, which may cause the Fund to underperform the broader stock market. • For dividend-paying stocks, dividends are not guaranteed and may decrease without notice. • 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) factors into the investment process may not work as intended.
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