(

HGRAX

)

U.S. Growth Opportunities Fund

Concentrated, High-Quality, Focused All Cap Growth Equities
NAV As of 02/20/19 $14.93

Jump to a section

Fund Facts

Details Performance (As of 02/20/19) Morningstar (As of 01/31/19)
12/18/14 Inception Date
$25.10M Total Net Assets (As of 01/31/19)
GROSS 2.59%
NET 1.17%
Annual Expense Ratio
(As of fiscal year end 09/30/18)
-0.13% 1 Day Return
13.45% YTD Return @NAV
6.95% YTD Return @MOP
Category
Large Growth
LARGE VALUE
LARGE BLEND
LARGE GROWTH
MID VALUE
MID BLEND
MID GROWTH
SMALL VALUE
SMALL BLEND
SMALL GROWTH
Equity Style Box *
Important Morningstar Information

Overview

Client Commitment

An actively managed U.S. growth strategy that engages in fundamental analysis to identify high-quality companies with strong growth characteristics. The Fund seeks long-term capital appreciation by investing in a blend of small-, medium- and large-capitalization stocks.

Why Invest in the Fund

    High-Quality Growth Companies

  1. The Fund seeks to invest in companies with impressive management teams, low leverage and a consistent, sustainable record of growth. We believe investing in these high-quality companies can lead to competitive returns with below-average risk over a full market cycle.
  2. Bottom-Up, Meets Top-Down Approach

  3. The team utilizes a multifaceted approach when trying to identify companies for investment. This includes a bottom-up qualitative and quantitative assessment, complemented by our top-down economic and investment outlook.
  4. Experienced Team, Tested Philosophy

  5. Rather than relying on a star manager, the Fund is managed by experienced portfolio managers leveraging a time-tested investment philosophy with additional support from a skilled investment team.

Featured Insights

Performance

RETURNS

(As of 12/31/2018)
(As of 01/31/2019)
Inception: Dec 18, 2014 3M YTD 1YR 3YR 5YR 10YR Since Inception
Class A Shares @NAV -14.73% 2.65% 2.65% 7.48% - - 7.52%
Class A Shares @MOP -19.63% -3.25% -3.25% 5.38% - - 5.95%
Russell 3000® Growth Index -16.33% -2.12% -2.12% 10.85% 9.99% 15.15% 9.28%
Inception: Dec 18, 2014 3M YTD 1YR 3YR 5YR 10YR Since Inception
Class A Shares @NAV 1.87% 8.66% 4.07% 12.52% - - 9.54%
Class A Shares @MOP -4.02% 2.44% -1.93% 10.33% - - 7.98%
Russell 3000® Growth Index 0.63% 9.18% 0.03% 16.51% 12.57% 16.77% 11.43%
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Maximum Offering Price (MOP) returns include the maximum sales charge of 5.75%. Net Asset Value (NAV) returns exclude this charge, which would have reduced returns.
View Fees and Expenses
Performance for Class A Shares that includes periods prior to 6/5/17 reflects the performance of a share class of a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund's prospectus for further details.

MORNINGSTAR PERCENTILE

(As of 12/31/2018)
(As of 01/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 11 76 - - 53
Large Growth Category
Rank/Count
161/1440 1071/1371 -/- -/- 734/1337
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 10 81 - - 55
Large Growth Category
Rank/Count
136/1439 1149/1376 -/- -/- 773/1339

CALENDAR YEAR PERFORMANCE

GROWTH OF A $10,000 HYPOTHETICAL INVESTMENT

Source: Morningstar, Inc.
This graph compares fund performance to that of the fund’s Morningstar category average and benchmark(s).

RETURNS-BASED STATISTICS

(As of 01/31/19 CLASS I SHARES)

RISK / REWARD
VS. RUSSELL 3000® GROWTH INDEX

3 YEAR 5 YEAR
Information Ratio -0.86 -
Alpha -1.77 -
Tracking Error 4.32 -
Beta 0.91 -
R-Squared (%) 88.43 -

UP AND DOWN MARKET CAPTURE (%)
VS. RUSSELL 3000® GROWTH INDEX

3 YEAR 5 YEAR
Up Capture Ratio 79.04 -
Down Capture Ratio 84.96 -

STANDARD DEVIATION

3 YEAR 5 YEAR
U.S. Growth Opportunities Fund 12.18 -
Russell 3000® Growth Index 12.66 12.53

SHARPE RATIO

3 YEAR 5 YEAR
U.S. Growth Opportunities Fund 0.97 -
Russell 3000® Growth Index 1.22 0.95

ANNUAL FEES & EXPENSES

(As of Fiscal Year End, 09/30/18)

CLASS A SHARES
Management Fees 0.75%
12b-1 Fees 0.25%
Other Expenses 1.59%
Total Gross Expenses 2.59%
Waivers -1.42%
Total Net Expenses 1.17%
Information Regarding Sales Charge Reductions and Waivers
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.

Characteristics

Index represents the Russell 3000® Growth Index.

TOP HOLDINGS

(As of 01/31/2019)

% of Fund
Visa Inc 3.71
Fiserv Inc 3.52
TJX Cos Inc 3.48
Alphabet Inc 3.45
Red Hat Inc 3.36
Adobe Inc 3.30
salesforce.com Inc 3.29
Intuit Inc 3.27
Danaher Corp 3.27
Thermo Fisher Scientific Inc 3.21
TOTAL 33.86

PORTFOLIO CHARACTERISTICS

(As of 01/31/19)

FUND INDEX
Number of Holdings
Equity Issues
35
1794
Market Capitalization
Weighted Average
$98.69B
$246.00B
Portfolio Turnover Rate
(1-year trailing)
23.22%
-
Price/Earnings Ratio
(1-year forward)
30.13
24.89
Price/Book Ratio
(1-year forward)
9.90
7.66
Earnings Growth Rate
(1-year forward)
12.68%
16.70%

SECTOR ALLOCATION

(As of 01/31/19)

% OF FUND % OF INDEX
Information Technology 35.21 30.24
Health Care 16.80 14.99
Consumer Discretionary 14.05 15.23
Industrials 12.25 12.46
Communication Services 7.69 11.78
Consumer Staples 5.13 5.47
Materials 2.90 1.93
Financials 2.87 4.61
Cash & Equivalents 3.10 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 01/31/2019)

% OF FUND % OF INDEX
Over $100B 18.88 46.32
$50B to $100B 20.49 14.92
$10B to $50B 38.33 24.70
$5B to $10B 16.93 5.87
$1B to $5B 2.27 7.02

REGIONAL ALLOCATION

(As of 01/31/19)

% OF FUND % OF INDEX
North America 96.90 99.49
Cash & Equivalents 3.10 -

Commentary & Literature