This share class currently has a limited offering, please see prospectus for more details on the offering.
GROWTH OF $100,000 OVER 10 YEARS
Compared to benchmark and category average, in thousands (difference vs. benchmark)
- Portfolio management team is led by Jonathan Simon, an experienced value manager with over 36 years of industry experience — all at J.P. Morgan.
- Mid-cap stocks have historically outperformed both larger and smaller stocks, while value stocks have outperformed growth stocks in the mid-cap market.
- Only fund within its category to produce positive returns in 16 of the past 18 years.1
- Top-decile performance for the 3-, 5- and 10-year periods.2
1 Source: Morningstar as of 3/31/16. Mid-Cap Blend Category. Select Shares. 2 Ranked as follows: one-year (50/421), three-year (30/383), five-year (4/328) and 10-year (13/215). Past performance does not guarantee future results.
The sweet spot of equity
The Fund’s dedicated portfolio team leverages a time-tested process to build an insight-driven portfolio of high-quality, mid-cap companies designed for appreciation. The team employs a bottom-up approach, targeting durable franchises with strong management and attractive valuations.
The result is a #1 performing fund since inception in the mid-cap value and mid-cap blend categories — a style that over the past 20 years has offered a better risk-return tradeoff than both larger and smaller stocks, while also outperforming growth stocks in the mid-cap market.3
3 Source: Morningstar; Institutional Shares as of 3/31/16.
AVERAGE ANNUAL RISK/RETURN FOR 20 YEARS
Value investing: Why flexibility matters
Value Advantage PM Jonathan Simon explains how market cap flexibility helps him access today's opportunities.
Total return assumes reinvestment of income.
The quoted performance of the Fund includes performance of a predecessor fund/share class prior to the Fund's commencement of operations. Please refer to the current prospectus for further information.
The Russell Midcap Value Index is an unmanaged index, which measures the performance of those Russell Midcap companies with lower price-to-book ratios and lower forecasted growth values. The performance of the index does not reflect the deduction of expenses associated with a fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of the fund expenses, including sales charges if applicable. An investor can not invest directly in an index.
The performance of the Lipper Mid-Cap Value Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses charged by the Fund.
The performance of the Lipper Multi-Cap Core Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses charged by the Fund. An individual cannot invest directly in an index.
Total return assumes reinvestment of dividends and capital gains distributions and reflects the deduction of any sales charges, where applicable. Performance may reflect the waiver of a portion of the Fund's advisory or administrative fees and/or reimbursement of certain expenses for certain periods since the inception date. If fees had not been waived and/or certain expenses were not reimbursed, performance would have been less favorable.
Â©2016, American Bankers Association, CUSIP Database provided by the Standard & Poor's CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved.
Mid-cap funds typically carry more risk than funds investing in well-established "blue-chip" companies and have historically experienced a greater degree of volatility than the average stock.
The top 10 holdings listed reflect only the Fund's long-term investments. Short-term investments are excluded. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable.
P/E ratio: the number by which earnings per share is multiplied to estimate a stock's value.
P/B ratio: the relationship between a stock's price and the book value of that stock.
Beta measures a fund's volatility in comparison to the market as a whole. A beta of 1.00 indicates a fund has been exactly as volatile as the market.
Sharpe ratio measures the fund's excess return compared to a risk-free investment. The higher the Sharpe ratio, the better the returns relative to the risk taken.
Tracking Error: The active risk of the portfolio, which determines the annualized standard deviation of the excess returns between the portfolio and the benchmark.
Alpha: The relationship between the performance of the Fund and its beta over a three-year period of time.
Standard deviation/Volatility: A statistical measure of the degree to which the Fund's returns have varied from its historical average. The higher the standard deviation, the wider the range of returns from its average and the greater the historical volatility. The standard deviation is calculated over a 36-month period based on Fund's monthly returns. The standard deviation shown is based on the Fund's Class A Shares or the oldest share class, where Class A Shares are not available.
R2: The percentage of a Fund's movements that result from movements in the index ranging from 0 to 100. A Fund with an R2 of 100 means that 100 percent of the Fund's movement can completely be explained by movements in the Fund's external index benchmark.
EPS: Total earnings divided by the number of shares outstanding.
Risk measures are calculated based upon the Funds' broad-based index as stated in the prospectus.