(

JACAX

)

VIT Forty Portfolio

High-Conviction Large-Cap Growth Equities
NAV As of 08/16/19 $40.41

Jump to a section

Fund Facts

Details Performance (As of 08/16/19) Morningstar (As of 07/31/19)
05/01/97 Inception Date
$854.99M Total Net Assets (As of 07/31/19)
GROSS 0.71%
NET 0.71%
Annual Expense Ratio
(As of fiscal year end 12/31/18)
1.51% 1 Day Return
24.80% YTD Return
Category
Large Growth
ic_star ic_star ic_star ic_star
1237 Funds Rated
Overall Rating
(Based on risk-adjusted returns)
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

Concentrated large-cap growth portfolio, leveraging our three decades of experience in high-conviction investing. By investing in our best wide-moat ideas, the Portfolio seeks to add excess returns over the long term. Given its concentrated nature, the Portfolio may exhibit moderately higher volatility than its benchmark.

Why Invest in the Portfolio

    High-Conviction Approach

  1. Fundamental research-driven approach, investing with conviction in 30 to 40 of our best large-cap growth ideas where we believe we have a differentiated view from the market.
  2. Innovative Wide-Moat Companies

  3. Seeks companies with sustainable competitive advantages that capitalize on their competitive moat to grow market share globally over a multi-year period. Emphasizes dominant companies driving innovation and change through disruptive technologies, products or business models.
  4. Stock Selection Drives Return

  5. Stock picker’s portfolio designed to deliver long-term growth of capital with a high-conviction approach. Seeks to use risk wisely, leveraging our best ideas in a concentrated portfolio to drive potential outperformance of the index over time.

Performance

RETURNS

(As of 06/30/2019)
(As of 07/31/2019)
Inception: May 01, 1997 3M YTD 1YR 3YR 5YR 10YR Since Inception
VIT Forty Portfolio – IS Shares 5.85% 23.50% 13.15% 19.41% 15.45% 14.92% 11.78%
Russell 1000® Growth Index 4.64% 21.49% 11.56% 18.07% 13.39% 16.28% 8.00%
S&P 500® Index 4.30% 18.54% 10.42% 14.19% 10.71% 14.70% 8.08%
Inception: May 01, 1997 3M YTD 1YR 3YR 5YR 10YR Since Inception
VIT Forty Portfolio – IS Shares 3.92% 26.83% 12.91% 18.33% 16.38% 14.09% 11.87%
Russell 1000® Growth Index 2.38% 24.23% 10.82% 17.13% 14.25% 15.74% 8.08%
S&P 500® Index 1.69% 20.24% 7.99% 13.36% 11.34% 14.03% 8.11%
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.
View Fees and Expenses

MORNINGSTAR PERCENTILE

(As of 06/30/2019)
(As of 07/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 21 23 4 49 3
Large Growth Category
Rank/Count
310/1402 326/1342 48/1286 545/1117 11/605
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 17 19 3 52 3
Large Growth Category
Rank/Count
257/1405 260/1346 39/1289 597/1121 12/606

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 07/31/19 INST SHARES)

RISK / REWARD
VS. RUSSELL 1000® GROWTH INDEX

3 YEAR 5 YEAR
Information Ratio 0.38 0.62
Alpha 1.46 1.77
Tracking Error 3.14 3.42
Beta 0.97 1.01
R-Squared (%) 94.50 93.68

UP AND DOWN MARKET CAPTURE (%)
VS. RUSSELL 1000® GROWTH INDEX

3 YEAR 5 YEAR
Up Capture Ratio 99.28 105.68
Down Capture Ratio 89.99 95.10

STANDARD DEVIATION

3 YEAR 5 YEAR
VIT Forty Portfolio 13.29 13.58
Russell 1000® Growth Index 13.27 12.98

SHARPE RATIO

3 YEAR 5 YEAR
VIT Forty Portfolio 1.27 1.14
Russell 1000® Growth Index 1.18 1.03

ANNUAL FEES & EXPENSES

(As of Fiscal Year End, 12/31/18)

INSTITUTIONAL SHARES
Management Fees 0.62%
12b-1 Fees -
Other Expenses 0.09%
Total Gross Expenses 0.71%
Waivers -
Total Net Expenses 0.71%

Characteristics

Index represents the Russell 1000® Growth Index.

TOP HOLDINGS

(As of 07/31/2019)

% of Portfolio
Microsoft Corp 7.71
Mastercard Inc 5.72
Alphabet Inc 5.44
Amazon.com Inc 4.58
salesforce.com Inc 4.11
TOTAL 27.56

PORTFOLIO CHARACTERISTICS

(As of 07/31/19)

PORTFOLIO INDEX
Number of Holdings
Equity Issues
40
528
Market Capitalization
Weighted Average
$294.85B
$326.22B
Portfolio Turnover Rate
(1-year trailing)
42.42%
-
Price/Earnings Ratio
(1-year forward)
34.76
29.96
Price/Book Ratio
(1-year forward)
9.41
9.88
Earnings Growth Rate
(1-year forward)
11.07%
9.43%

DEVELOPED VS. EMERGING MARKET

(As of 07/31/19)

% OF PORTFOLIO % OF INDEX
U.S. 93.32 99.62
Non-U.S. Emerging 2.95 0.15
Non-U.S. Developed 2.19 0.23
Cash & Equivalents 1.54 -

SECTOR ALLOCATION

(As of 07/31/19)

% OF PORTFOLIO % OF INDEX
Information Technology 32.76 37.63
Communication Services 15.28 11.73
Health Care 13.53 14.27
Consumer Discretionary 10.84 14.56
Industrials 9.13 9.73
Financials 8.27 3.20
Materials 5.87 1.40
Real Estate 2.78 2.44
Cash & Equivalents 1.54 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 07/31/2019)

% OF PORTFOLIO % OF INDEX
Over $100B 58.16 59.13
$50B to $100B 23.80 12.56
$10B to $50B 15.92 22.58
$5B to $10B 0.58 5.16

REGIONAL ALLOCATION

(As of 07/31/19)

% OF PORTFOLIO % OF INDEX
North America 93.31 99.61
Europe 2.19 0.13
Asia/Pacific Ex Japan 1.50 0.24
Latin America 1.46 0.02
Cash & Equivalents 1.54 -

Commentary & Literature