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Focused Growth Fund

Summary

Summary

What is the Focused Growth Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of U.S. companies.

Fund Basicsas of 08/30/2019

Total Net Assets
$8.78 M
Inception Date
02/01/2019
Dividend Frequency
Monthly (Daily Accrual)
Fund Gross Expense Ratio
0.82%
Fund Net Expense Ratio
0.73%
Number of Holdings
30

TEN LARGEST HOLDINGS as of 08/30/2019View Portfolio

Holding Assets
Mastercard, Inc. 6.3%
Amazon.com, Inc. 5.9%
Match Group, Inc. 4.9%
Microsoft Corp. 4.4%
Alteryx Inc 4.1%
Roku Inc 4.1%
EPAM Systems, Inc. 3.8%
Lululemon Athletica, Inc. 3.7%
ServiceNow, Inc. 3.5%
Live Nation Entertainment, Inc. 3.4%

INVESTMENT TEAM

F. Thomas O'Halloran
F. Thomas O'Halloran, J.D., CFA

Partner & Portfolio Manager

32 Years of Industry Experience

Matthew DeCicco
Matthew R. DeCicco, CFA

Managing Director & Portfolio Manager

20 Years of Industry Experience

Vernon Bice
Vernon Bice, CMT

Portfolio Manager

18 Years of Industry Experience

Supported By 41 Investment Professionals with 18 Years Avg. Industry Experience

Your Representative

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Performance

Performance

Fund Expense Ratio :

Gross 0.82%

Net 0.73%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2019
w/o sales charge - - - - - 12.53%
Lipper Category Avg. Global Multi-Cap Growth Fds - - - - - -
Russell 1000® Growth Index - - - - - 13.11%

Fund Expense Ratio :

Gross 0.82%

Net 0.73%

Fund Expense Ratio :

Gross 0.82%

Net 0.73%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2019
w/o sales charge - - - - - 11.80%
Lipper Category Avg. Global Multi-Cap Growth Fds - - - - - -
Russell 1000® Growth Index - - - - - 11.47%

Fund Expense Ratio :

Gross 0.82%

Net 0.73%

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioningas of 06/30/2019

  • The portfolio is overweight in the information technology sector, specifically internet service and software providers, as we anticipate continued innovation in e-commerce and cloud computing. We maintain an underweight position to particular FAANG stocks.
  • Within the health care sector, we are focused on smaller capitalization biotechnology companies, as they generally tend to be more innovative than their large cap peers, which we believe have large amounts of cash but inferior product pipelines. The portfolio maintains exposure to innovative minimally-invasive medical device companies.
  • The portfolio is underweight in certain bond proxy sectors, such as consumer staples and real estate, as we continue to believe these sectors are overvalued.
  • During the second quarter, the equity market wrestled with trade war worries but continued to advance as interest rates fell. We believe that high growth companies continue to be very attractive in this environment. Furthermore, we believe that improving fundamentals and moderate inflation levels will continue to support higher equity prices for select secular growth stocks.

PORTFOLIO DETAILS as of 08/30/2019

Total Net Assets
$8.78 M
Number of Holdings
30
Weighted Average Market Cap.
167.5 B
P/B Ratio
13.0x
P/E Ratio
51.9x

Contributors & Detractors as of  06/28/2019

Contributors

Holding Contribution
Alteryx Inc 0.8%
Exact Sciences Corp. 0.8%
Mastercard, Inc. 0.6%
Everbridge, Inc. 0.6%
Match Group, Inc. 0.5%

Detractors

Holding Contribution
Intuitive Surgical, Inc. -0.4%
Alibaba Group Holding Ltd. -0.4%
Alphabet, Inc. -0.3%
Align Technology, Inc. -0.3%
Xilinx, Inc. -0.2%

Attribution Analysis 

Focused Growth Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 08/31/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
0.82% 0.73%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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Class F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to June 30, 2015,  a figure is used based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class F3 shares; (b) for periods prior to April 4, 2017 but after June 30, 2015, performance is based on the historical performance of the Fund’s Class R6 shares, which have an equivalent expense ratio to the Fund’s F3 shares; and (c) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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