|
|
 |
 |
|
Asset Class / Style:
|
U.S. Equity / Value
|
|
|
|
Market Capitalization:
|
Mid Cap
|
|
|
|
Benchmark:
|
Russell Midcap® Value
|
|
|
|
Portfolio Assets:
|
$807 MM as of 6/30/2010
|
|
|
|
|
|
Overview |
|
The mid cap value process uses a combination of quantitative and qualitative methods to build a portfolio of securities designed to outperform the Russell Midcap® Value Index. Domestic mid capitalization portfolios are invested using a relative value investment style. A four-factor model is used to narrow a universe of +/- 1000 stocks with market capitalizations between $1 billion and $14 billion to the 200 companies that are most attractive based on expected return. Fundamental analysis is then used to build a portfolio of approximately 50 mid capitalization stocks. Sector weightings must be +/- 10% vs. the benchmark weightings (Russell Midcap® Value Index). The investment team employs a rigorous sell discipline.
|
|
|
|
Top Holdings*
|
As of 6/30/2010
|
|
|
|
|
HCC Insurance Holdings Inc.
|
|
2.9%
|
|
|
|
Forest Laboratories Inc.
|
|
2.9%
|
|
|
|
Hewitt Associates Inc.
|
|
2.9%
|
|
|
|
PG&E Corp.
|
|
2.8%
|
|
|
|
Lender Processing Services Inc.
|
|
2.7%
|
|
|
|
CenterPoint Energy Inc.
|
|
2.7%
|
|
|
|
MFA Financial Inc.
|
|
2.6%
|
|
|
|
CMS Energy Corp.
|
|
2.6%
|
|
|
|
AmerisourceBergen Corp.
|
|
2.6%
|
|
|
|
Aeropostale Inc.
|
|
2.4%
|
|
|
|
|
|
Sector Weightings*
|
As of 6/30/2010
|
|
|
|
|
Financial Services
|
|
21.3%
|
|
|
|
Utilities
|
|
15.8%
|
|
|
|
Consumer Discretionary
|
|
15.8%
|
|
|
|
Health Care
|
|
12.3%
|
|
|
|
Producer Durables
|
|
12.0%
|
|
|
|
Technology
|
|
8.0%
|
|
|
|
Materials & Processing
|
|
8.0%
|
|
|
|
Energy
|
|
5.3%
|
|
|
|
Consumer Staples
|
|
1.6%
|
|
|
|
|
|
|
* The portfolio is actively managed and holdings are subject to change, and should not be considered as investment recommendations to buy individual securities. Sector weights might not add up to 100.0% due to rounding.
|
|
|
|
|
|
|
|
|
|
Disclosure
|
|
The time-weighted Gross and Net performance stated above reflect the deduction of brokerage commissions and the reinvestment of dividends and other income. Gross performance does not include the deduction of investment management fees. The full disclosure statement is located at the top of the page in the "Additional Information" area.
|
|
|
|
|
