HomeStrategiesTriton Fund

(

JSMGX

)

Triton Fund

Moderate Small to Mid-Cap Growth Equities

Jump to a section

View Institutional Account Strategy

Overview

Client Commitment

A moderately positioned, small-mid-cap growth fund seeking to provide consistent relative returns with lower volatility than the index. The Fund invests in small-cap companies with differentiated business models and sustainable competitive advantages that are positioned to grow market share regardless of economic conditions.

Why Invest in the Fund

    Unique Business Models

  1. Seeks small-cap companies that stand out from competitors – through differentiated business models, innovative approaches or unique products or services – that are using their competitive advantages to grow over a multi-year time frame.

    2. Deep, Specialized Team

  2. In-depth fundamental research supported by a team of analysts, a team of small-mid cap specialists and a portfolio management team with experience looking for small-cap companies early in their life cycle that have the potential to grow into mid-sized companies.

    3. Moderate Approach to Growth

  3. The Fund offers the potential for capital appreciation through exposure to small companies having the potential to quickly grow into mid-size companies with a focus on resilient business models positioned to weather a variety of market environments.

Strong Risk-Adjusted Performance vs. Peers

5 Year rankings in Morningstar Small Growth Category (636 funds) as of 6/30/19
Chart: 5 Year rankings in Morningstar Small Growth Category (636 funds) as of 6/30/19

Triton Fund 3-Year rankings in Morningstar Small Growth Category as of 6/30/19: Alpha – 31st percentile ranked 218 of 665 funds, Sharpe Ratio – 26th percentile ranked 184 of 665 funds, Standard Deviation – 88th percentile ranked 581 of 665 funds and Beta – 81st percentile ranked 543 of 665 funds

Portfolio Management

Jonathan Coleman, CFA

Portfolio Manager

Scott Stutzman, CFA

Portfolio Manager | Research Analyst

Performance

RETURNS

(As of 09/30/2019)
(As of 09/30/2019)
Inception: Feb 25, 2005 3M YTD 1YR 3YR 5YR 10YR Since Inception
Triton Fund – I Shares -3.09% 21.55% -2.36% 13.96% 12.60% 15.29% 12.57%
Russell 2500™ Growth Index -3.18% 19.97% -4.11% 12.33% 10.22% 13.48% 9.47%
Russell 2000® Growth Index -4.17% 15.34% -9.63% 9.79% 9.08% 12.25% 8.45%
Inception: Feb 25, 2005 3M YTD 1YR 3YR 5YR 10YR Since Inception
Triton Fund – I Shares -3.09% 21.55% -2.36% 13.96% 12.60% 15.29% 12.57%
Russell 2500™ Growth Index -3.18% 19.97% -4.11% 12.33% 10.22% 13.48% 9.47%
Russell 2000® Growth Index -4.17% 15.34% -9.63% 9.79% 9.08% 12.25% 8.45%
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
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details concerning historical performance.

CALENDAR YEAR PERFORMANCE

RETURNS-BASED STATISTICS

(As of 08/31/19 CLASS I SHARES)

RISK / REWARD
VS. RUSSELL 2500™ GROWTH INDEX

3 YEAR 5 YEAR
Information Ratio 0.30 0.90
Alpha 1.45 2.58
Tracking Error 2.44 2.43
Beta 0.93 0.93
R-Squared (%) 98.03 97.85

UP AND DOWN MARKET CAPTURE (%)
VS. RUSSELL 2500™ GROWTH INDEX

3 YEAR 5 YEAR
Up Capture Ratio 97.79 101.81
Down Capture Ratio 92.65 90.99

STANDARD DEVIATION

3 YEAR 5 YEAR
Triton Fund 15.51 14.97
Russell 2500™ Growth Index 16.46 15.84

SHARPE RATIO

3 YEAR 5 YEAR
Triton Fund 0.80 0.73
Russell 2500™ Growth Index 0.71 0.55

ANNUAL FEES & EXPENSES

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

CLASS I SHARES
Management Fees 0.64%
12b-1 Fees -
Other Expenses 0.11%
Total Gross Expenses 0.75%
Waivers 0.00%
Total Net Expenses 0.75%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.

Characteristics

Index represents the Russell 2500™ Growth Index.

TOP HOLDINGS

(As of 08/31/2019)

% of Fund
Catalent Inc 2.66
HEICO Corp 2.40
Broadridge Financial Solutions Inc 2.32
ServiceMaster Global Holdings Inc 2.30
Euronet Worldwide Inc 2.27
Blackbaud Inc 2.19
Crown Holdings Inc 2.10
LPL Financial Holdings Inc 1.93
Teledyne Technologies Inc 1.76
STERIS PLC 1.74
TOTAL 21.67
View Full Holdings

PORTFOLIO CHARACTERISTICS

(As of 08/31/19)

FUND INDEX
Number of Holdings
Equity Issues
118
1376
Market Capitalization
Weighted Average
$6.44B
$5.54B
Portfolio Turnover Rate
(1-year trailing)
22.06%
-
Price/Earnings Ratio
(1-year forward)
27.18
29.40
Price/Book Ratio
(1-year forward)
5.02
5.63
Earnings Growth Rate
(1-year forward)
5.33%
9.34%

DEVELOPED VS. EMERGING MARKET

(As of 08/31/19)

% OF FUND % OF INDEX
U.S. 95.24 99.43
Non-U.S. Developed 1.58 0.16
Non-U.S. Emerging 0.49 0.41
Cash & Equivalents 2.69 -

SECTOR ALLOCATION

(As of 08/31/19)

% OF FUND % OF INDEX
Information Technology 27.21 25.74
Health Care 20.37 22.71
Industrials 19.77 17.33
Consumer Discretionary 11.10 13.68
Financials 6.27 6.34
Materials 5.25 3.57
Consumer Staples 3.31 2.20
Communication Services 1.65 2.84
Real Estate 1.33 4.26
Energy 1.05 0.46
Cash & Equivalents 2.69 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 08/31/2019)

% OF FUND % OF INDEX
$10B to $50B 16.16 12.42
$5B to $10B 41.70 35.70
$1B to $5B 36.99 44.22
$500M to $1B 2.23 5.07
$250M to $500M 0.23 1.94

REGIONAL ALLOCATION

(As of 08/31/19)

% OF FUND % OF INDEX
North America 95.97 99.50
Asia/Pacific Ex Japan 0.49 0.37
Africa/Mideast 0.44 0.03
Europe 0.41 0.10
Cash & Equivalents 2.69 -

Commentary & Literature

2Q19 Portfolio Commentary Highlights

  • Stocks gained ground in the second quarter, but were volatile.
  • The Fund outperformed its benchmarks during the period.
  • We see several potential sources of market volatility on the horizon, but will be opportunistic and seek to use volatility to our advantage.

Read The Full Commentary

Literature