Overview
I
Shares
SMDOX
Inception
Date
09.30.2016
Investment
Min.
$1,000,000
Subsequent
Investment Min.1
N/A
Max. Up Front
Sales Charge
N/A
Max. Deferred
Sales Charge
N/A
1If subsequent investments are made as part of an AIP, the minimum is $25.
Philosophy & Process
To pursue its investment objective of long-term capital appreciation, the Fund normally invests principally in equity securities and will invest, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in the securities of small or middle capitalization companies (commonly referred to collectively as "SMID"). Small or middle capitalization companies are defined as companies with market capitalizations within the range of those companies in the Russell 2500â„¢ Index at the time of purchase.
The Fund invests, under normal market conditions, primarily in domestically-traded U.S. common stocks and U.S.-traded equity stocks of foreign companies, including ADRs. The Fund uses a multi-style approach, meaning that it invests across both value- and growth-oriented companies targeting SMID-capitalization levels.
Investment Considerations
The Fund uses a multi-style approach and invests in both growth and value-oriented companies. A growth investment style may be particularly sensitive to market conditions. Value investing involves the risk that an investment made in undervalued securities may not appreciate in value as anticipated or remain undervalued for long periods of time.
The Fund invests in small and middle capitalization companies which may be riskier, more volatile and vulnerable to economic, market and industry changes than investments in larger more established companies. As a result, share price changes may be more erratic or trade less frequently in lesser quantities.
| Term | Class A Shares | Class C Shares | Class I Shares |
|---|---|---|---|
| Ticker | SMDPX | SMDQX | SMDOX |
| Inception Date | 09.30.2016 | 09.30.2016 | 09.30.2016 |
| Investment Min. | $1,000 | $1,000 | $1,000,000 |
| Subsequent Investment Min.2 | N/A | N/A | N/A |
| Max. Up Front Sales Charge | 5.75% | N/A | N/A |
| Max. Deferred Sales Charge | N/A | 1% | N/A |
2If subsequent investments are made as part of an AIP, the minimum is $25.
Portolio Manager
Performance
| Term | QTR | YTD | 1 Year | 3 Years | 5 Years | Since Inception |
|---|---|---|---|---|---|---|
| A Shares with 5.75% Sales Charge | -4.72% | -2.97% | 5.05% | 3.56% | 3.08% | 5.75% |
| A Shares without Sales Charge | 1.09% | 2.98% | 11.49% | 5.63% | 4.31% | 6.65% |
| Institutional Shares | 1.15% | 3.18% | 11.84% | 5.91% | 4.58% | 6.92% |
| Lipper Mid-Cap Core Median | -4.21% | 2.92% | 12.74% | 10.58% | 5.69% | N/A |
The gross expense ratios for Class A, C and I Shares are 1.35%, 2.10% and 1.10%, respectively. The net expense ratios for Class A, C and I Shares are 1.05%, 1.80% and 0.80%, respectively.
The Advisor has contractually agreed to limit certain fees paid by the Fund from February 1, 2021 through January 31, 2022. Performance would have been lower without limitations in effect.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. 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 the original cost. To obtain performance information current to the most recent month end, please visit the performance summary.
The performance of the SMID Opportunities Fund reflects the deduction of fees for value-added services associated with a mutual fund, such as investment management and fund accounting fees. The inception date for Class A Shares is 09.30.2016. The inception date for Class C Shares is 09.30.2016. The inception date for Class Inst'l Shares is 09.30.2016. The performance shown reflects the reinvestment of all dividend and capital gains distributions.
Characteristics
| # | Company Name | Value |
|---|---|---|
| 1 | Global Payments Inc. | 5.49% |
| 2 | Callon Petroleum Company | 5.08% |
| 3 | Centene Corporation | 4.38% |
| 4 | Civeo Corp | 4.35% |
| 5 | Gentex Corporation | 4.29% |
| 6 | Waste Connections, Inc. | 4.19% |
| 7 | Cannae Holdings, Inc. | 4.17% |
| 8 | Arch Resources, Inc. Class A | 4.14% |
| 9 | Take-Two Interactive Software, Inc. | 3.88% |
| 10 | Cable One, Inc. | 3.82% |
Current and future portfolio holdings are subject to change and risk. Based on Market Value of securities.
Sector Allocation as of 09.30.2023
Allocations are based on the current weight to funds in the cited Sector. The composition of the fund's holdings is subject to change.
Growth of $10,000 as of 09.30.2023
The Growth of $10,000 is hypothetical based upon the performance of net A Shares at NAV for the period ended 09.30.2023. It includes the reinvestment of dividends and capital gains.
Statistics
| Term | Value |
|---|---|
| Alpha | 0.00 |
| Beta | 0.00 |
| R-Squared | 0.00 |
| Standard Deviation | 0.00 |
| Sharpe Ratio | 0.00 |
3The Funds composition is subject to change. Annual Turnover Ratio is 12 month rolling calculation. Alpha, Beta, R-Squared, Standard Deviation, and Sharpe Ratio are based on a 10-year calculation.
View a Glossary of Terms.
| Term | Value |
|---|---|
| P/E FY1 | 17.15 |
| Weighted Average P/B | 1.45 |
| Weighted Average Market Cap | $12.86B |
| Annual Turnover | 80% |
SMID Opportunities Fund
Materials
Equity Funds
Insights
12.01.2023
Sterling Capital Announces Liquidation of the Diverse Multi-Manager Active ETF
Sterling Capital Announces Liquidation of the Diverse Multi-Manager Active ETF
11.29.2023 • Robert Brown, CFA®
High Yield - The Incredible Shrinking Asset Class and the Imminent Fall of the Zombies
The high-yield bond market has been having a relatively good 2023 as technicals remain firm and the feared recession has so far failed to materialize. Through mid-November, the ICE BofA U.S. High Yield Index has generated 7.8% total return year to date and a 6.4% return in excess of duration matched Treasuries. We see a mixed picture for the asset class ahead as all in yields remain attractive, while challenges are increasing as a maturity wall looms.
11.28.2023 • Charles Wittmann, CFA®
The Lead - "Pursuing Sustainable Success"
- As investors, we want our clients to have sustained success, and that means investing in dividend-paying stocks that have a capacity to pay attractive and sustainably-growing dividends. - In the current market environment, we believe those companies are becoming increasingly scarce. - Declining dividend payments in the Energy sector have been a key contributor to the overall decline in S&P 500 dividend growth and we discuss the challenges. - We prefer companies that have rising cash flows that provide more sustainable dividend growth that may position our clients for sustained success.
11.02.2023 • Andrew Richman, CTFA
Markets breathed a sigh of relief following this week's FOMC meeting as the current fed funds rate remained unchanged. Senior Fixed Income Specialist Andy Richman, CTFA, shares his views.
10.31.2023 • Charles Wittmann, CFA®
The Lead - "Balance Sheet Season"
- Rising interest costs are causing companies that fund their businesses through borrowing to reassess their priorities. - By investing in quality companies that we feel generate higher-than-average returns on capital, we believe they have more control over their business and do not depend on excessive debt to fund it. - Dividend payers themselves offer evidence of financial strength and financial health by demonstrating the ability to reward their shareholders with cash proceeds from their business each quarter. - Historically, this is why dividend payers tend to outperform later in an interest rate tightening cycle, as seen in the chart above.
10.03.2023 • Charles Wittmann, CFA®
- In a period of rising interest costs, wages, and energy costs, double-digit dividend growers have outperformed in 2023. - The largest dividend growers are also outpacing high dividend yielders in 2023. - Higher dividend growers are being rewarded in part for their ability to return more cash to their shareholders than slower growth peers. - We believe owning quality companies that earn returns on capital well above their cost of capital have the potential do well in this new environment.
Contact
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