Disciplined Value – U.S. Small Cap

A Redefined Approach to Value Investing

 

The video above was originally published in March 2019. Down market capture discussed represents the percent of market return captured by the investment manager’s return relative to the benchmark during negative periods. See below for the most recent performance.

We re-define “value portfolio” in this strategy by using a systematic, but flexible approach. This allows us to actively find areas of the market that are offering superior dividends and valuations, which has historically driven favorable risk-adjusted returns and meaningful downside risk management.

Investment Objective

To provide competitive returns consistent with the U.S. small cap equity market while also providing a level of capital protection during sustained market downturns. The investment minimum for the portfolio is $1,000,000.

Investment Team

The portfolio is managed by a team of five research professionals whose three key members average 15 years with the firm.

Performance

As of 03/31/2020

YTD

-34.75%

1 Year

-28.21%

3 Year

---

5 Year

---

10 Year

---

Inception
(09/01/2018)

-24.4%

Market Cycle

---

Composition

High-quality, dividend-yielding U.S. securities. Focus is on small cap companies.

95% - 100% Equities

Investment Process

Using a systematic investment process with a focus on small capitalization companies, securities are selected annually based on free cash flow generation and earnings power, dividend yield, dividend sustainability, and financial health. Holdings will consist of U.S. securities.

The Disciplined Value – U.S. Small Cap Composite is a weighted average of separately managed accounts with a Disciplined Value – U.S. Small Cap objective. Accounts in this composite must have a tenure of at least one month under our management. This composite includes accounts invested in U.S. small cap equities. This strategy seeks to identify dividend paying companies trading attractively on the basis of underlying earnings power (e.g. free cash flow) with a low estimated likelihood of financial distress. Portfolios are typically rebalanced annually according to these criteria. Net-of-fee returns are calculated based off of the effective fees of the accounts in the composite. They are after brokerage commissions, reinvested income, and advisory fees, but if applicable, before custodian costs and the fees of the investor’s Personal Financial Advisor. Also, accounts subject to solicitation fees may incur as much as 0.15% in additional expenses. Fees will vary with size and circumstances and these fee differentials would impact returns accordingly. Past performance does not guarantee future results. All returns were earned in USD and are stated here in USD. All data are subject to revision. Performance for periods greater than one year is annualized.

A Redefined Approach to Value Investing

 

The video above was originally published in March 2019. Down market capture discussed represents the percent of market return captured by the investment manager’s return relative to the benchmark during negative periods. See below for the most recent performance.

We re-define “value portfolio” in this strategy by using a systematic, but flexible approach. This allows us to actively find areas of the market that are offering superior dividends and valuations, which has historically driven favorable risk-adjusted returns and meaningful downside risk management.

Investment Objective

To provide competitive returns consistent with the U.S. small cap equity market while also providing a level of capital protection during sustained market downturns. The investment minimum for the portfolio is $1,000,000.

Investment Team

The portfolio is managed by a team of five research professionals whose three key members average 15 years with the firm.

Composition

High-quality, dividend-yielding U.S. securities. Focus is on small cap companies.

95% - 100% Equities

Performance

As of 03/31/2020

YTD

-34.75%

1 Year

-28.21%

3 Year

---

5 Year

---

10 Year

---

Inception
(09/01/2018)

-24.4%

Market Cycle

---

Investment Process

Using a systematic investment process with a focus on small capitalization companies, securities are selected annually based on free cash flow generation and earnings power, dividend yield, dividend sustainability, and financial health. Holdings will consist of U.S. securities.

The Disciplined Value – U.S. Small Cap Composite is a weighted average of separately managed accounts with a Disciplined Value – U.S. Small Cap objective. Accounts in this composite must have a tenure of at least one month under our management. This composite includes accounts invested in U.S. small cap equities. This strategy seeks to identify dividend paying companies trading attractively on the basis of underlying earnings power (e.g. free cash flow) with a low estimated likelihood of financial distress. Portfolios are typically rebalanced annually according to these criteria. Net-of-fee returns are calculated based off of the effective fees of the accounts in the composite. They are after brokerage commissions, reinvested income, and advisory fees, but if applicable, before custodian costs and the fees of the investor’s Personal Financial Advisor. Also, accounts subject to solicitation fees may incur as much as 0.15% in additional expenses. Fees will vary with size and circumstances and these fee differentials would impact returns accordingly. Past performance does not guarantee future results. All returns were earned in USD and are stated here in USD. All data are subject to revision. Performance for periods greater than one year is annualized.


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