DOCSLIB.ORG

Federated Hermes Kaufmann Large Cap Fund

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Federated Hermes Kaufmann Large Cap Fund Federated Hermes Kaufmann Large Cap Fund 6/30/21 Fund description The fund seeks to provide capital appreciation by investing primarily in securities of large-cap companies. Utilizing an intensive, bottom-up security selection process, the fund focuses on companies that exhibit Fund facts positive growth characteristics. Performance inception date Average annual total returns (%) Performance shown is before tax. 12/5/07 Expense ratio* Since Before After Benchmark 3-month YTD 1-year 3-year 5-year 10-year inception waivers waivers Russell 1000® Growth Index R6 Shares 11.44 8.77 30.55 21.52 20.24 16.28 13.08 0.87 0.78 Morningstar category Institutional Shares 11.45 8.73 30.45 21.43 20.17 16.23 13.23 0.93 0.84 Large Growth A Shares (NAV) 11.36 8.57 30.11 21.13 19.86 15.94 12.94 1.18 1.09 Lipper classification A Shares (MOP) 5.24 2.61 22.96 18.87 18.52 15.28 12.47 1.18 1.09 Multi-Cap Growth Funds Benchmark 11.93 12.99 42.50 25.14 23.66 17.87 – – – Fund assets 50 $4.6 billion 42.50 41.70 Ticker symbols 40 R6 Shares - KLCSX 30.45 30 25.14 23.66 Institutional Shares - KLCIX 22.56 21.98 21.43 20.17 17.87 A Shares - KLCAX 20 16.23 15.99 Total returns (%) 11.93 C Shares - KLCCX 11.45 10.28 10 R Shares - KLCKX Key investment team 0 Hans Utsch 3-month 1-year 3-year 5-year 10-year Tom Brakel, M.D. Institutional Shares Benchmark Morningstar Category Average John Ettinger, CFA Jonathan Art Calendar year total returns (%) Mark Bauknight Barbara Miller 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Steven Abrahamson Institutional Shares 28.55 38.14 0.12 23.57 4.62 3.13 12.12 37.03 26.37 -5.90 Stephen DeNichilo, CFA Benchmark 38.49 36.39 -1.51 30.21 7.08 5.67 13.05 33.48 15.26 2.64 Vivian Wohl Morningstar Category Average 35.86 31.90 -2.09 27.67 3.23 3.60 10.00 33.92 15.34 -2.56 Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value 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 what is stated. To view performance current to the most recent month-end, and for after-tax returns, contact us or visit FederatedInvestors.com. Maximum offering price figures reflect the maximum sales charge of 5.5% for A Shares. See the prospectus for other fees and expenses that apply to a continued investment in the fund. Total returns for periods of less than one year are cumulative. Prior to January 2, 2008, the fund’s initial seed capital was held as a cash position. In addition, the fund’s advisor waived fees and reimbursed expenses. In the absence of these circumstances, performance would have been lower. * The fund’s expense ratio is from the most recent prospectus. The expense ratio may reflect voluntary fee waivers and/or expense reimbursements determined by the fund’s Advisor and its affiliates. The voluntary waivers and/or reimbursements, if applicable, are in effect up to but not including the later of 1/1/22 or the date of the fund’s next effective prospectus. Not FDIC Insured • May Lose Value • No Bank Guarantee Distinguishing characteristics • Capital efficiency and transparency are built into the compensation structure Transparent and • Bonus pool is allocated according to individual’s contribution to results accountable process • Incentivized to optimize capital Team follows same 30-year philosophy and process used since inception of the Kaufmann strategy Tenured team, • Distinguished professionals with specialized industry ties; organized for full accountability differentiated portfolio • Continuity of team allows for constructive problem solving • Seeking a differentiated, large-cap portfolio Independent, proprietary research focuses on: Extensive research, • Exceptional business models long-term results • Positive inflections of business momentum • Clear pathway to free cash flow growth Past performance is no guarantee of future results. Portfolio statistics Sector weightings (%) Weighted median P/E (LTM) 50.2x Information Technology 27.9 Weighted median P/E (NTM) 35.4x 44.1 22.9 Weighted median market cap $87.8 b Health Care 9.1 13.3 Number of securities 80 Consumer Discretionary 18.5 9.8 Annual portfolio turnover 25.83% Communication Services 12.6 9.2 Financials 2.3 Top holdings (%) 8.6 Industrials 6.4 Microsoft Corporation 4.2 4.2 Materials 1.0 Amazon.com, Inc. 3.6 1.4 Consumer Staples 3.9 Trane Technologies Public Limited Company 3.4 Real Estate 1.0 T-Mobile US, Inc. 3.3 1.7 Energy 0.7 Alphabet Inc. 3.1 0.3 Utilities 0.4 ServiceNow, Inc. 3.0 0.0 0.6 salesforce.com, inc. 2.9 Cash/Cash Equivalents 0.0 Facebook, Inc. 2.7 Federated Hermes Kaufmann Large Cap Fund ® The Sherwin-Williams Company 2.5 Russell 1000 Growth Index Visa Inc. 2.5 Total % of portfolio 31.2 Totals may not add up to 100% due to rounding. Portfolio composition is based on net assets at the close of business on 6/30/21 and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes. Because this is a managed portfolio, the investment mix will change. 2 Federated Hermes Kaufmann Large Cap Fund Highlights • Global equity markets continued their ascent during the quarter • Investors shifted their preference back to growth stocks from value reversing a two-quarter value outperformance • Technology and Material sectors negatively contributed to the fund’s performance on a relative basis • Sector weighting hurt relative performance Looking back During the second quarter of 2021, the U.S. economy and most significant westernized economies continued their economic rebound after suffering from Covid-19 related government shutdowns, which caused economic devastation throughout 2020 and into 2021. Continued stimulus by central banks as well as fiscal responses helped to elevate financial markets and recover the economies hit by the lockdowns. Global equities continued their ascent in the U.S. to all time high levels with the help of stimulus and continued improvement of economic data. The U.S. equity markets rose during the quarter led by the S&P 500 Index, up 8.55%, followed by large-cap stocks, represented by the Russell 1000 Index, up 8.54%, followed by mid-cap stocks, represented by the Russell MidCap Index, up 7.50% followed by small-cap stocks, represented by the Russell 2000 Index, up 4.29%. Large-cap growth stocks outperformed large-cap value stocks, a reversal of a two-quarter value trade. During the quarter, the portfolio team added new equity positions of the following: Chipotle Mexican Grill, CMG (new), Coinbase, COIN (new), Nextera Energy, NEE (new), Marvell Technology, MRVL, Schlumberger Ltd., SLB (new) and Adobe, ADBE (new). Also, during the quarter, the portfolio subtracted or reduced the following select equity positions in pursuit of better opportunities: Netflix, (exited), Vertex Pharmaceuticals, Abbott Laboratories, Workday and Roper Technologies (exited). The large-cap fund did not participate in any initial public offerings (IPOs) but did participate in one secondary offering during the quarter: Zai Lab Limited. Performance Federated Hermes Kaufmann Large Cap Fund Institutional Shares returned 11.45% at NAV for the three months ended June 30, 2021. That compares with its benchmark, the Russell 1000 Growth Index, which returned 11.93% during the same period. Performance contributors • Stocks that made a positive contribution to perfor Inc., Microsoft Corporation,mance IDEXX included Laboratories, Moderna, Alphabet and Genmab Performance detractors • Stocks that detracted fr om performance included Ultragenyx Pharmaceutical, Las Vegas Sands, Scotts Miracle-Gro Company, Coinbase Global and New Fortress Energy Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value 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 what is stated. To view performance current to the most recent month-end, and for after-tax returns, contact us or visit FederatedInvestors.com. How we are positioned As the U.S. economy continues through 2021, many unknowns remain, from the new composition of Washington D.C. to the sustainability of the current economic recovery. These questions among others are likely to persist throughout the year, which could cause market uncertainty. The U.S. equity market, however, continues to show resiliency throughout the year with the IPO market reaching record levels with the second quarter surpassing the first with issuance and capital raised. The U.S. IPO market priced 113 issuances, raising nearly $39.9 billion according to Renaissance Capital, an increase from 100 issuances in the first quarter of 2021. Despite the macro uncertainties, the Kaufmann team continues to be focused on finding and investing in companies that have little dependence on the economy, good or bad, to generate significant sales and earnings growth. This quarter the fund had approximately 73% of the portfolio invested in four sectors: Information Technology, Health Care, Consumer Discretionary and Communication Services. The sector weightings of the portfolio are a byproduct of our bottom-up stock selection strategy with a team of sector-specialist portfolio managers. These sectors also have historically provided good opportunities for bottom-up growth investors. We seek to find companies that have company-specific catalysts for growth rather than develop macro themes to construct sector weightings.
Load more

Recommended publications
  • Invest in Your Retirement—And Yourself—Today, with Help from Comcast Corporation Retirement-Investment Plan and Fidelity
    Comcast Corporation Retirement-Investment Plan Invest in your retirement—and yourself—today, with help from Comcast Corporation Retirement-Investment Plan and Fidelity. YOUR GUIDE TO GETTING STARTED Invest some of what you earn today for what you plan to accomplish tomorrow. Dear Comcaster: It is our pleasure to offer you the opportunity to participate in the Comcast Corporation Retirement- Investment Plan (the ’Comcast Plan’). Your retirement savings plan offers a convenient, tax-deferred way to save for retirement. As an eligible employee of Comcast Corporation, you will be automatically enrolled in the Plan at a contribution rate of 3% of your pretax eligible earnings. Benefit from: Matching contributions. Comcast helps your contributions grow by matching your 401(k) contributions. Convenience. Your contributions are automatically deducted regularly from your paycheck. Tax-deferred savings opportunities. You pay no taxes on any earnings until you withdraw them from your account, enabling you to keep more of your money working for you now. Tax savings now. Your pretax contributions are deducted from your pay before income taxes are taken out. This means that you can actually lower the amount of current income taxes withheld each period. It could mean more money in your take-home pay versus saving money in a taxable account. Portability. You can roll over eligible savings from a previous employer into this Plan. You can also take your vested account balance with you if you leave the company. Automatic annual increases. Save a little more each year, the easy way — the Annual Increase Program automatically increases your contribution rate by 1% each year up to 10% of your pretax eligible earnings.
    [Show full text]
  • STRS Ohio Smarttalk Newsletter
    Quarterly investment newsletter for STRS Ohio members participating in the Defined Contribution and Combined Plans SUMMER 2021 STRS Ohio’s Fiscal 2022 Investment Plan calls for returns near expected policy return of 6.84% in the year ahead STRS Ohio Investment staff presented its Investment The Retirement Board’s investment consultants, Callan LLC Plan for the 2022 fiscal year at the June Retirement Board and Cliffwater LLC, reviewed and expressed support for meeting. The plan details staff’s investment strategy for the Investment Plan. The plan is available on the STRS Ohio each asset class in the system’s total fund. Fiscal year 2022 website at www.strsoh.org. STRS Ohio’s plan and forecast began on July 1 and runs through June 30, 2022. The fiscal is designed for a large institutional investor and may 2022 Investment Plan projects a combined overall return not be appropriate to an individual investor’s portfolio among all asset classes to be near STRS Ohio’s expected allocation, time horizon or risk tolerance. Like all economic policy return of 6.84% (assuming the total fund’s current forecasts, it should not be relied upon as an indicator of allocation). The plan forecast calls for a growing U.S. future results. For more personalized assistance, you can economy and for inflation to remain within a tolerable reach a Nationwide Retirement Solutions (NRS) Retirement range during the fiscal year. Specialist toll-free at 866-332-3342. Review your asset allocation Investment Style Asset Classes (allocation) ■ Cash 30% following strong equity market returns ■ Bonds 40% Domestic and international equity returns have been exceptionally CONSERVATIVE ■ Large-cap stocks 16% ■ Mid-cap stocks 4% strong for over a year now.
    [Show full text]
  • EXELON CORPORATION EMPLOYEE SAVINGS PLAN (Full Title of the Plan)
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K ☒ ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2007 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-16169 EXELON CORPORATION EMPLOYEE SAVINGS PLAN (Full title of the Plan) EXELON CORPORATION (a Pennsylvania Corporation) 10 South Dearborn Street P.O. Box 805379 Chicago, Illinois 60680-5379 (312) 394-7398 (Name of the issuer of the securities held pursuant to the Plan and the address of its principal executive offices) Table of Contents EXELON CORPORATION EMPLOYEE SAVINGS PLAN INDEX TO FORM 11-K Page No. Report of Independent Registered Public Accounting Firm 1 Financial Statements: Statements of Net Assets Available for Benefits as of December 31, 2007 and 2006 2 Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2007 3 Notes to Financial Statements 4 - 13 Supplemental Schedule: Schedule of Assets (Held at End of Year) as of December 31, 2007, Schedule H, Part IV, Item 4i of Form 5500 14 Note: All other schedules of additional information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable. Exhibit Index 15 Signatures 16 Exhibits 17 Table of Contents REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Participants and the Administrator of the Exelon Corporation Employee Savings Plan: We have audited the accompanying statements of net assets available for benefits of the Exelon Corporation Employee Savings Plan (the “Plan”) as of December 31, 2007 and 2006, and the related statement of changes in net assets available for benefits for the year ended December 31, 2007.
    [Show full text]
  • Attribution Report
    Quarterly Review As of 06/30/2021 MassMutual Equity Opportunities Fund* Wellington Management Company LLP | T. Rowe Price & Associates, Inc. I SHARE CLASS TICKER: MFVZX Fund Objective: This Fund seeks growth of capital over the long-term. Sector Weightings: Defines what % of each sector this fund holds Portfolio Attribution: Describes how fund manager sector and stock compared to its benchmark listed here. weighting decisions affected returns. Fund Russell 1000® Index QTD YTD 30 1 20 0 10 -1 Percent of Portfolio Value Added vs. Benchmark (%) 0 -2 Cash Cash Utilities Utilities Energy Energy Materials Materials Financials Financials Industrials Industrials Real Estate Real Estate Health Care Health Care Comm. Services Comm. Services Consumer Discr. Consumer Discr. Information Tech. Information Tech. Consumer Staples Consumer Staples Sector Attribution Details: Quarterly Portfolio Commentary: Sector Fund Weight QTD YTD Communication Services 1.43 -0.32 -0.49 Laurie Goodreau, CFA Investment Director Consumer Discretionary 10.11 -0.07 -0.56 Investment Experience: 30 Years Consumer Staples 16.85 -0.21 -1.20 Energy 1.79 -0.20 -0.55 Financials 17.39 0.40 0.74 HIGHLIGHTS • The Russell 1000 Index outpaced all three Russell value indexes and its Health Care 17.40 -0.71 -0.52 lower capitalization indexes in core while trailing the Russell 1000 Industrials 13.20 -0.05 -0.23 Growth and the Russell Mid-Cap Growth Indexes. Information Technology 7.77 -0.66 0.33 • All economic sectors of the Index delivered positive absolute returns except the utility sector. Materials 4.12 -0.12 -0.25 • Sector allocation was negative due to an overweight to consumer Real Estate 3.20 0.07 0.12 staples and an underweight to information technology.
    [Show full text]
  • Vanguard Russell 1000 Index Fund Vanguard
    Vanguard Russell 1000 Index Fund Vanguard Russell 1000 Value Index Fund Vanguard Russell 1000 Growth Index Fund Vanguard Russell 2000 Index Fund Vanguard Russell 2000 Value Index Fund Vanguard Russell 2000 Growth Index Fund Vanguard Russell 3000 Index Fund Supplement Dated July 19, 2021, to the Prospectuses and Summary Prospectuses Dated December 22, 2020 Important Changes to the Funds Effective immediately, Nick Birkett has been named as a co-portfolio manager of Vanguard Russell 1000 Index Fund, Vanguard Russell 1000 Value Index Fund, Vanguard Russell 1000 Growth Index Fund, Vanguard Russell 2000 Index Fund, Vanguard Russell 2000 Value Index Fund, Vanguard Russell 2000 Growth Index Fund, and Vanguard Russell 3000 Index Fund. He replaces Michael A. Johnson, who had previously co-managed the Funds, and joins Walter Nejman, who will continue to co-manage the Funds. The Funds’ investment objectives, strategies, and policies remain unchanged. Prospectus and Summary Prospectus Text Changes The following replaces Michael A. Johnson under the heading “Investment Advisors” in the Fund Summary or ETF Summary section for each Fund: Nick Birkett, Portfolio Manager at Vanguard. He has co-managed the Fund since July 2021. Prospectus Text Changes The following replaces Michael A. Johnson under the heading “Investment Advisors” in the More on the Funds and More on the Funds and ETF Shares sections respectively: Nick Birkett, Portfolio Manager at Vanguard. He has worked in investment management since 2006; has been with Vanguard since 2017; and has co-managed Russell 1000 Index, Russell 1000 Value Index, Russell 1000 Growth Index, Russell 2000 Index, Russell 2000 Value Index, Russell 2000 Growth Index, and Russell 3000 Index Funds since July 2021.
    [Show full text]
  • Ishares Russell 1000 Large-Cap Index Fund Fact Sheet
    iShares Russell 1000 Large-Cap BRGKX Index Fund As of 06/30/2021 | Class K: BRGKX | Institutional: BRGNX | Investor A: BRGAX INVESTMENT STRATEGY Invests in a portfolio of assets whose performance seeks to match the performance of the Russell 1000® Index. Rated against 1,257 Large Blend Funds, as of 06/30/2021 based on risk adjusted total return. Overall Ratings are determined monthly and subject to change. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.†† ANNUALIZED PERFORMANCE KEY FACTS Without Sales Charge 1 Year 3 Year 5 Year 10 Year Size of Fund (Millions) $682.3M Class K 42.95 19.06 17.89 14.78 Fund Launch Date 03/31/2011 Benchmark 43.07 19.16 17.99 14.90 Share Class Launch Date 03/31/2011 Morningstar Average 40.47 16.77 16.15 13.21 Morningstar Category Large Blend Number Of Holdings 1,024 CALENDAR YEAR PERFORMANCE Benchmark Russell 1000 Index Without Sales Charge 2016 2017 2018 2019 2020 YTD 2Q2021 ANNUAL EXPENSES Class K 11.92 21.60 -4.85 31.28 20.84 14.92 8.50 Gross Expense Ratio 0.08% Benchmark 12.05 21.69 -4.78 31.43 20.96 14.95 8.54 Net Expense Ratio 0.08% Morningstar Average 10.37 20.44 -6.27 28.78 15.83 14.84 7.55 The Net Expense Ratio excluding Investment Performance data shown represents past performance which is no guarantee of future results.
    [Show full text]
  • Russell US Indexes – 40 Years of Insights
    Research Russell US Indexes – 40 years of insights June 2019 | ftserussell.com Table of contents Russell 3000 – Mirroring the US equity market 3 Introduction 3 US equity performance vs other asset classes 5 US equity performance in different economic regimes 6 Real equity returns 10 US equity valuations over time 11 The changing structure of the US economy 15 Sector shifts – from manufacturing to services 15 Top 10 Stocks – from Energy to Technology 19 Large- and small-cap US equity markets 20 Performance: Large cap vs. small cap 21 Sector weights: Large cap vs. small cap 23 Valuations: Large cap vs. small cap 27 Summary 29 References 30 ftserussell.com 2 Introduction The Russell US Indexes were created in 1984 by the Frank Russell Company Four decades of Russell US Index (now part of FTSE Russell) with the goal of providing accurate representation data provide a wealth of insights of the investable US equity market. When initially introduced, the Russell into the ongoing US equity market indexes provided five years of simulated back-history so that a historical record evolution would exist, enabling investors to use the indexes at launch without requiring a live track record to be accumulated. As a result, there are now 40 years of performance, characteristics and sector data available for the major indexes within the Russell US Index family as of year-end 2018. The depth and detail of this available information allows us to take a deeper historical view of the US equity market to help investors understand its dynamics and how US equity fits into their overall asset allocation.
    [Show full text]
  • Ishares Russell 1000 Large-Cap Index Fund BRGAX Investor a As of 30-Jun-2021
    iShares Russell 1000 Large-Cap BRGAX Index Fund As of 06/30/2021 | Class K: BRGKX | Institutional: BRGNX | Investor A: BRGAX INVESTMENT STRATEGY Invests in a portfolio of assets whose performance seeks to match the performance of the Russell 1000® Index. Rated against 1,257 Large Blend Funds, as of 06/30/2021 based on risk adjusted total return. Overall Ratings are determined monthly and subject to change. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.†† ANNUALIZED PERFORMANCE KEY FACTS With Sales Charge 1 Year 3 Year 5 Year 10 Year Size of Fund (Millions) $682.3M Investor A N/A N/A N/A N/A Fund Launch Date 03/31/2011 Without Sales Charge 1 Year 3 Year 5 Year 10 Year Share Class Launch Date 03/31/2011 Investor A 42.51 18.71 17.53 14.43 Morningstar Category Large Blend Benchmark 43.07 19.16 17.99 14.90 Number Of Holdings 1,024 Morningstar Average 40.47 16.77 16.15 13.21 Benchmark Russell 1000 Index CALENDAR YEAR PERFORMANCE ANNUAL EXPENSES Gross Expense Ratio 0.68% Without Sales Charge 2016 2017 2018 2019 2020 YTD 2Q2021 Net Expense Ratio 0.38% Investor A 11.61 21.16 -5.15 30.98 20.45 14.73 8.44 The Net Expense Ratio excluding Investment Benchmark 12.05 21.69 -4.78 31.43 20.96 14.95 8.54 Related Expenses is 0.38% Investment Related Morningstar Average 10.37 20.44 -6.27 28.78 15.83 14.84 7.55 Expenses include acquired fund fees of 0.00%, Performance data quoted represents past performance and is no guarantee of future results.
    [Show full text]
  • Russell US Indexes (123) Presentation
    US market volatility A historical perspective ftserussell.com March 2020 FTSE Russell 1 FTSE Russell is not an investment firm and this presentation is not advice about any investment activity. None of the information in this presentation or reference to a FTSE Russell index constitutes an offer to buy or sell, or a promotion of a security. This presentation is solely for informational purposes. Accordingly, nothing contained in this presentation is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of making any investment through our indexes. Views expressed are subject to change. These views do not necessarily reflect the opinion of FTSE Russell or London Stock Exchange Group plc. FTSE Russell 2 Assets benchmarked to the Russell US Indexes ~ $8 trillion in assets benchmarked to Russell US Indexes • A long history of providing institutional investors with precise, predictable tools to build, manage and measure portfolios • Tracked by 65% of active US equity institutional funds* • 14 of the 15 most frequently used US institutional equity benchmarks* 1% Micro & Mega Cap Series 14% 18% 18% 49% Russell 3000® Russell 2000® Russell Midcap® Russell 1000® (Broad Cap) (Small Cap) (Large Cap) Data as of December 31, 2018 as reported on April 1, 2019 by eVestment for institutional assets, Morningstar for retail mutual funds, insurance products, and ETFs, and additional passive assets directly collected by FTSE Russell. AUM data includes blended benchmarks and excludes futures and options. Passive assets directly collected by FTSE Russell have been removed from third party sources to prevent double counting. No assurances are given by FTSE Russell as to the accuracy of the data.
    [Show full text]
  • Fund Commentary (PDF)
    SECOND QUARTER 2021 INVESTMENT COMMENTARY Share Class A Advisor C Institutional Institutional 2 Institutional 3 R Symbol SLMCX SCIOX SCICX CCIZX SCMIX CCOYX SCIRX Overall Morningstar RatingTM Columbia Seligman Technology and Class A Institutional Class Information Fund The Morningstar Rating is for the indicated Effective June 9, 2021, Columbia Seligman Communications and Information Fund was renamed the share classes only as of 06/30/21; other classes Columbia Seligman Technology and Information Fund to better represent the universe in which the fund may have different performance characteristics. The Morningstar ratings for the overall, invests. three-, five- and 10-year periods for Class A shares are 4 stars, 5 stars, 4 stars and 3 Fund performance stars and for Institutional Class shares are 4 ▪ Institutional Class shares of Columbia Seligman Technology and Information Fund stars, 5 stars, 4 stars and 4 stars among 215, 215, 182 and 157 Technology funds returned 9.62% for the second quarter. respectively, and are based on a Morningstar Risk-Adjusted Return measure. ▪ The fund’s benchmark, the S&P North American Technology Sector Index, returned 12.29% for the quarter. With a return to work focus ▪ For monthly performance, please visit columbiathreadneedle.com. prompting increases in office IT spending, we think our Market overview companies are well The U.S. stock market gained 8.54% in the second quarter, as gauged by the Russell 1000 Index, bringing its year-to-date return to 14.95%. This marked the fifth consecutive positioned for the coming calendar quarter of positive returns for the index, underscoring the strength in market earnings deluge.
    [Show full text]
  • Large Cap Value Equity Portfolio GTMEX Q3 | 2020
    Large Cap Value Equity Portfolio GTMEX Q3 | 2020 Investment Philosophy Fund Facts We believe a diversified strategy of Universe Russell 1000 Index undervalued stocks with above-average Benchmark Russell 1000 Value Index potential for price appreciation may achieve above-benchmark long-term Fund Inception January 4, 1993 capital appreciation. Expense Ratio 1.00% Morningstar Large Value Category Average Expense Ratio 1.01% Investment Strategy • Applies multi-factor quantitative screens to identify and rank stocks Assets Under Management as of 9/30/2020 with valuations below sector averages. Glenmede Large Cap Value Equity Portfolio $20.7 Million • Conducts fundamental research to identify positive earnings trends and Glenmede Investment Management $10.5 Billion other potential catalysts for price appreciation. • Screens and reevaluates holdings on Morningstar Rating an ongoing basis, applying a rigorous 9/30/2020 Overall 3 Yr 5 Yr 10 Yr sell discipline. GTMEX êê êê êê êê #Funds in Large Value Category 1120 1120 984 709 Product Highlights Morningstar Ratings™ are based on risk-adjusted returns. The Overall Morningstar Rating™ is derived from • Focus on companies with value a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year (if applicable) characteristics plus strong Morningstar Rating™ metrics. fundamentals. • Disciplined, consistent investment process integrating fundamental and Performance (%) As of 9/30/2020 quantitative approaches. Since QTD YTD 1 Yr 3 Yr1 5 Yr1 10 Yr1 Incept1 • Value and fundamentals-based sector GTMEX 1.24 -18.17 -10.32 -0.91 5.71 8.21 8.21 rotation. Russell 1000 Value 5.59 -11.58 -5.03 2.63 7.66 9.95 9.12 Management Team Excess Return -4.35 -6.59 -5.29 -3.54 -1.95 -1.74 -0.91 1Annualized returns.
    [Show full text]
  • Hartford Equity Income I HQIIX Reliable in Tough Conditions
    Reprinted by permission of Morningstar, Jul. 21, 2021 Hartford Equity Income I HQIIX Reliable in tough conditions. Morningstar's Take HQIIX this portfolio’s sector weightings within 8 hold a stock if its yield falls below the S&P 500's. percentage points of the Russell 1000 Value Reckmeyer can be contrarian, adding to out-of- Morningstar Rating QQQQ Index's, though its industry positioning can still favor stocks whose challenges are more than Morningstar Analyst Rating „ stand out. Its 10% to 14% stake in reflected in their share prices. While he generally pharmaceuticals stocks since mid-2012 has often holds stocks for about four to five years, Reckmeyer Morningstar Pillars been one of the large-value Morningstar is quick to sell if stocks' fundamentals deteriorate Process Above Average Category's highest weightings and 5 to 6 or hit their target price. He can also swap a name Performance — percentage points more than the index. for a similar stock trading at a better valuation. People Above Average Parent Above Average Price — The fund won’t wow in rallies and it can struggle Although Reckmeyer's process is fundamentally when interest-rates spike. Both factors contributed driven, it's not benchmark-agnostic. He keeps the Role In Portfolio Core to its bottom-quintile showing over the past year portfolio's sector weightings within 8 percentage through March 31, 2021. The fund, though, has points of the Russell 1000 Value Index's. That can Fund Performance held up better than the the index and most peers in lead to sizable differences in financials and Year Total Return (%) +/- Category every market drop of 10% or more over consumer staples between this fund and his sleeve YTD 15.32 -2.20 Reckmeyer’s 13-plus years and that’s helped it of Vanguard Equity Income, which is indexed to the 2020 4.62 1.71 2019 26.19 1.15 outperform.
    [Show full text]