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Address And Details

220 East Las Colinas Blvd, Suite 1200 , Irving, TX 75039
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

The Fund s investment objective is long-term capital appreciation and current income. Under normal circumstances, at least 80% of the Fund s net assets (plus the amount of any borrowings for investment purposes) are invested in equity securities of small market capitalization U.S. companies. These companies have market capitalizations of $5 billion or less at the time of investment. The Fund s investments may include common stocks, preferred stocks, real estate investment trusts ( REITs ), American Depositary Receipts ( ADRs ), master limited partnerships ( MLPs ), and U.S. dollar-denominated foreign stocks traded on U.S. exchanges (collectively, stocks ). The Manager allocates the assets of the Fund among six sub-advisors. The Manager believes that this strategy may help the Fund outperform other investment styles over the longer term while reducing volatility and downside risk. The sub-advisors select stocks that, in their opinion, have most or all of the following characteristics (relative to the Russell 2000 Index): above-average earnings growth potential, below-average price to earnings ratio, below-average price to book value ratio, below-average price to revenue ratios, and above average free cash flow yields and return on capital. Each of the sub-advisors determines the earnings growth prospects of companies based upon a combination of internal and external research using fundamental analysis and considering changing economic trends. The process is research driven and takes into consideration items such as a company s tangible assets, sustainability of its cash flows, capital intensity and financial leverage. The Fund may have significant exposure to the Financials sector. However, as the sector composition of the Fund s portfolio changes over time, the Fund s exposure to the Financials sector may be lower at a future date, and the Fund s exposure to other market sectors may be higher. Barrow, Hanley, Mewhinney & Strauss, LLC ( Barrow ), one of the Fund s sub-advisors, manages two allocations of the Fund s assets, one pursuant to the fundamental research strategy discussed above and the other pursuant to a quantitative application of its fundamental research process ( Quantitative Strategy ). Barrow implements the Quantitative Strategy by using a quantitative multi-factor model that identifies the factors present in Barrow s fundamental research portfolio, which may include, for example, below-average price-to-revenue ratios, price-to-earnings ratios and price-to-book ratios and above-average free cash flow yields and return on capital. The model applies these factors and factor weightings to the Russell 2000 Index universe of companies and makes recommendations for adjustments to the portfolio on a daily basis. Hotchkis and Wiley Capital Management, LLC ( Hotchkis ), another sub-advisor to the Fund, also manages two allocations of the Fund s assets, one pursuant to the fundamental research strategy discussed above and the other pursuant to a small cap diversified value strategy which seeks to exploit market inefficiencies created by irrational investor behavior ( Small Cap Diversified Value Strategy ). Hotchkis implements the Small Cap Diversified Value Strategy by using a disciplined, bottom-up investment process based on a proprietary model that is augmented by fundamental research. Hotchkis seeks broad diversified exposure to investment opportunities that are allocated to the Small Cap Diversified Value Strategy. Hotchkis evaluates relative valuation, fundamental operating trends, deterioration of fundamentals, and the Small Cap Diversified Value Strategy s diversification guidelines, among other factors, in determining whether to sell a security. For each sub-advisor, the decision to sell a stock is typically based on the belief that the company is no longer considered undervalued or shows deteriorating fundamentals, or that better investment opportunities exist in other stocks. The Fund may invest cash balances in other investment companies, including money market funds, and may purchase and sell futures contracts to gain market exposure on cash balances or reduce market exposure in anticipation of liquidity needs. The Fund may lend its securities to broker-dealers and other institutions to earn additional income.

Net Asset Value

as of 5:14 PM ET 12/07/2021


  • 1 Week
  • +4.41%
  • 1 Month
  • -4.19%
  • 3 Months
  • +4.89%
  • 1 Yr Return
  • +29.07%
  • 5 Yr Return
  • n/a

Equity Sector Breakdown

Finance 25.30%
IndustrialCyclical 20.49%
Technology 11.43%
RetailTrade 6.14%
ConsumerDurables 6.01%
NonDurables 4.44%
Utilities 4.36%
Services 3.97%
Energy 3.72%
Health 3.13%

Asset Allocation

Asset Type % Of Allocation
Stocks 97.37%
ForeignStocks 2.01%
Other 0.09%
Cash 0.00%
Bonds 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 1.83 B

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -12.04 n/a n/a
Beta 1.36 n/a n/a
R Squared 0.77 n/a n/a
Std Deviation 28.65 n/a n/a
Sharpe Ratio 0.56 n/a n/a

Purchase Information

as of 5:15 PM ET 12/06/2021
Minimum Initial $0
Minimum Additional $50
Minimum Initial IRA $0


Timeframe Average Annual Current Performance Monthly As Of 11/30/2021 Average Annual Current Performance Quarterly As Of 09/30/2021 Avg Annual Current Performance Monthly As Of 11/30/2021 Avg Annual Current Performance Quarterly As Of 09/30/2021
1 Year
  • +31.10%
  • +60.78%
+31.10% +60.78%
3 Year
  • +10.75%
  • +6.91%
+10.75% +6.91%
10 Year
  • n/a
  • n/a
n/a n/a
Life Of Fund
  • +7.50%
  • +7.55%
+7.50% +7.55%

Top 10 Holdings

Symbol Company Name % Of Assets

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