Small Cap Value
Equity Strategies
Large Cap Growth
Mid Cap Growth
SMid Growth
Small Cap Growth
Dividend Growth
Multi-Cap Growth
SMid Core Opportunity
Small Cap Value
Philosophy
process
Style: Small Cap Value
Inception: 10/31/2010
Benchmark: Russell 2000 Value Index
Target Number of Holdings: 70 to 110
Diversification Targets: Sector and Industry weightings +/- 5% relative to the Benchmark
Turnover: 25 to 60% annually
Fully Invested: Average cash allocation of 1 to 5%
- Small capitalization equity markets are inefficient. This provides the opportunity to utilize a fundamental research approach to identify superior companies trading at a discount to intrinsic value.
- In the context of value investing, we feel it is important to delineate between less innovative and more innovative sectors and industries.
- We focus on opportunities with the greatest upside potential, emphasizing a combination of both classic valuation and relative valuation/earnings power.
- We seek to neutralize relative benchmark risk to isolate stock selection as the primary source of alpha, mitigating the difficulty of consistently predicting market, sector, and industry direction while delivering high active share.
Investment Policy Committee
Jeff Kerrigan, CFA Committee Chair
Martine Elie, CFA
John Beaver, CFA
Key documents
Small Cap Value Strategy Card