Mid Cap Growth

Overview

The Strategy typically invests in mid-cap U.S. growth stocks.

Strategy Inception Date
June 30, 2009
Composite Inception Date
June 30, 2009
Composite AUM
(as of 07/31/2019)
$2.30 BN
Composite Benchmark
Russell Midcap® Growth Index
Available Vehicles
Separate Account
Commingled Vehicle
Model Portfolio Delivery
Performance
Average Annual Returns
Calendar Year Returns
as of 07/31/2019
as of 06/30/2019

Cumulative
Annualized
ytd as of 2019-06-30
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Growth (gross of fees)
30.56% 15.98% 17.48% 13.44% 17.14% 17.14%
Mid Cap Growth (net of fees)
30.18% 15.30% 16.78% 12.77% 16.45% 16.45%
Russell Midcap® Growth Index
26.08% 13.94% 16.49% 11.10% 16.02% 16.02%
Cumulative
Annualized
ytd as of 2019-07-31
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Growth (gross of fees)
34.50% 17.11% 16.98% 14.80% 16.87% 17.33%
Mid Cap Growth (net of fees)
34.05% 16.41% 16.29% 14.12% 16.18% 16.64%
Russell Midcap® Growth Index
29.03% 14.15% 15.51% 12.30% 15.41% 16.14%

Year Mid Cap Growth (gross of fees) Mid Cap Growth (net of fees) Russell Midcap® Growth Index
2010 28.53% 27.78% 26.38%
2011 1.95% 1.34% -1.65%
2012 17.42% 16.72% 15.81%
2013 37.10% 36.30% 35.74%
2014 6.78% 6.15% 11.90%
2015 7.56% 6.92% -0.20%
2016 3.21% 2.59% 7.33%
2017 29.71% 28.95% 25.27%
2018 -5.30% -5.87% -4.75%
Portfolio

Top Issuers

(36.9% of assets as of 07/31/2019)


Portfolio Holdings Breakdown

Country
Developed Markets
Equity Sector
Industry
Asset Allocation
Market Cap 2
Country Mid Cap Growth Russell Midcap® Growth Index Overweight / Underweight
United States 99.3% 99.6% -0.3%
Developed Markets Mid Cap Growth Russell Midcap® Growth Index Overweight / Underweight
Americas 99.3% 99.6% -0.3%
Equity Sector Mid Cap Growth Russell Midcap® Growth Index Overweight / Underweight
Information Technology 30.1% 33.4% -3.3%
Industrials 18.3% 16.7% 1.6%
Consumer Discretionary 15.7% 15.2% 0.5%
Health Care 15.1% 15.0% 0.1%
Financials 5.6% 4.5% 1.2%
Communication Services 4.1% 5.1% -1.0%
Real Estate 3.4% 2.8% 0.6%
Consumer Staples 3.2% 3.2% 0.0%
Materials 2.6% 2.8% -0.2%
Energy 1.2% 1.3% -0.1%
Industry Mid Cap Growth Russell Midcap® Growth Index Overweight / Underweight
Software 12.5% 11.3% 1.2%
Health Care Equipment & Supplies 8.5% 5.2% 3.3%
IT Services 6.7% 9.2% -2.5%
Semiconductors & Semiconductor Equipment 5.3% 5.2% 0.1%
Specialty Retail 4.9% 4.2% 0.7%
Hotels Restaurants & Leisure 4.6% 4.2% 0.3%
Life Sciences Tools & Services 4.5% 2.4% 2.1%
Commercial Services & Supplies 4.4% 1.7% 2.7%
Professional Services 4.1% 3.3% 0.9%
Capital Markets 3.6% 2.5% 1.1%
Electronic Equipment Instruments & Components 3.0% 3.0% 0.0%
Aerospace & Defense 3.0% 2.6% 0.4%
Machinery 2.8% 4.0% -1.2%
Equity Real Estate Investment Trusts (REITs) 2.5% 2.5% 0.1%
Diversified Consumer Services 2.0% 0.5% 1.5%
Textiles Apparel & Luxury Goods 2.0% 1.3% 0.7%
Containers & Packaging 1.9% 1.4% 0.4%
Industrial Conglomerates 1.9% 0.2% 1.7%
Distributors 1.8% 0.3% 1.5%
Interactive Media & Services 1.7% 1.7% 0.0%
Asset Allocation Mid Cap Growth Russell Midcap® Growth Index Overweight / Underweight
Equity 99.3% 100.0% -0.7%
Net Cash and Equivalents 0.7% - -
Market Cap Mid Cap Growth Russell Midcap® Growth Index Overweight / Underweight
Mid 56.6% 58.7% -2.1%
Large 42.7% 40.5% 2.2%
Analytics
(As of 07/31/2019)

Performance Statistics
3Y
5Y
Alpha
1.75
2.90
Beta
0.97
0.94
Information Ratio
0.37
0.62
R-Squared
92.31
91.36
Sharpe Ratio
1.07
1.02
Standard Deviation
14.36
13.54
Upside Capture
101.04
100.69
Downside Capture
91.62
83.90
Sortino Ratio
1.65
1.63
Win Ratio
58.00
63.00
Loss Ratio
42.00
37.00
Margin of Outperformance
0.84
0.87
Margin of Underperformance
-0.91
-0.99
Tracking Error
4.01
4.06
Yields
Portfolio Characteristics
Rep Portfolio
Composite Benchmark
Average Market Cap (weighted)
$18.61 B
$17.59 B
Median Market Cap (weighted)
$17.37 B
$16.81 B
P/E Ratio (LTM)
40.07
32.10
P/E Ratio (NTM)
30.70
25.00
Price/Book
7.51
7.14
Return on Equity
13.99%
19.40%
Turnover Ratio
108%
-
Team
  1. 1. Holdings are subject to change and are dollar-weighted based on assets.
  2. 2. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund's prospectus.
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