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Private Client Group
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Domestic Equity

Capital Appreciation Fund

The Strategy typically invests in large-cap U.S. growth stocks.

Investment Style
Large Cap Growth
Fund Inception
December 29, 2011
Total Assets (all classes) (as of 8/31/2017)
$5.04 billion
Fund Index
Russell 1000 Growth
NAV (as of 9/20/17)
  • A
$64.77

Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 8/31/2017
  • F
as of 6/30/2017
  • F

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 9/20/17
  • C
1 yr 3 yr 5 yr since inception
Capital Appreciation Fund (NAV)
4.50% 19.22% 20.51% 8.35% 13.17% 13.46%
Cumulative
Annualized
3 mo ytd as of 9/20/17
  • C
1 yr 3 yr 5 yr since inception
Capital Appreciation Fund (NAV)
3.11% 19.22% 18.40% 7.91% 12.83% 13.65%
Gross Expense Ratio: 0.63% | Net Expense Ratio: 0.63%

The performance data quoted represents past performance, which does not guarantee future results. The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Year Capital Appreciation Fund Russell 1000 Growth
2011 0.00% 2.64%
2012 14.25% 15.26%
2013 29.82% 33.48%
2014 15.55% 13.05%
2015 3.66% 5.67%
2016 -1.93% 7.08%

The performance data quoted represents past performance, which does not guarantee future results. The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Date Capital Appreciation Fund Russell 1000® Growth Index MSCI World S&P 500
8/31/2007 0.00 0.00 0.00 0.00
9/30/2007 6.61 4.19 4.76 3.74
10/31/2007 9.16 7.74 7.97 5.39
11/30/2007 3.83 3.77 3.56 0.98
12/31/2007 3.57 3.39 2.22 0.28
1/31/2008 -5.82 -4.67 -5.59 -5.73
2/29/2008 -7.89 -6.56 -6.14 -8.79
3/31/2008 -8.58 -7.13 -7.04 -9.19
4/30/2008 -1.16 -2.26 -2.15 -4.77
5/31/2008 2.54 1.32 -0.66 -3.53
6/30/2008 -5.58 -5.97 -8.58 -11.66
7/31/2008 -8.68 -7.76 -10.82 -12.41
8/31/2008 -8.34 -6.77 -12.07 -11.14
9/30/2008 -22.06 -17.56 -22.53 -19.06
10/31/2008 -37.33 -32.08 -37.22 -32.65
11/30/2008 -45.31 -37.48 -41.28 -37.48
12/31/2008 -43.96 -36.35 -39.40 -36.82
1/31/2009 -45.64 -39.41 -44.71 -42.14
2/28/2009 -49.24 -43.97 -50.37 -48.30
3/31/2009 -44.67 -38.97 -46.62 -43.78
4/30/2009 -38.66 -33.11 -40.64 -38.40
5/31/2009 -34.65 -29.80 -35.26 -34.95
6/30/2009 -34.19 -29.01 -35.55 -34.82
7/31/2009 -29.60 -23.97 -30.09 -29.89
8/31/2009 -28.63 -22.39 -27.21 -27.36
9/30/2009 -25.32 -19.09 -24.30 -24.65
10/31/2009 -27.06 -20.19 -25.65 -26.05
11/30/2009 -22.93 -15.28 -22.61 -21.61
12/31/2009 -19.54 -12.67 -21.22 -20.10
1/31/2010 -24.11 -16.48 -24.48 -22.97
2/28/2010 -21.76 -13.61 -23.41 -20.59
3/31/2010 -16.68 -8.61 -18.67 -15.79
4/30/2010 -17.69 -7.59 -18.66 -14.47
5/31/2010 -24.76 -14.64 -26.45 -21.30
6/30/2010 -29.05 -19.34 -28.97 -25.42
7/31/2010 -25.06 -13.59 -23.21 -20.19
8/31/2010 -28.21 -17.62 -26.08 -23.79
9/30/2010 -20.59 -8.86 -19.19 -16.99
10/31/2010 -17.00 -4.50 -16.18 -13.83
11/30/2010 -16.82 -3.39 -17.99 -13.82
12/31/2010 -12.19 1.93 -11.96 -8.06
1/31/2011 -11.16 4.52 -9.97 -5.88
2/28/2011 -7.77 7.94 -6.81 -2.66
3/31/2011 -8.28 8.07 -7.73 -2.62
4/30/2011 -5.46 11.69 -3.81 0.26
5/31/2011 -6.56 10.48 -5.81 -0.87
6/30/2011 -7.55 8.89 -7.30 -2.52
7/31/2011 -8.72 7.80 -8.98 -4.51
8/31/2011 -14.04 2.11 -15.39 -9.69
9/30/2011 -21.11 -5.41 -22.70 -16.04
10/31/2011 -12.11 4.97 -14.71 -6.87
11/30/2011 -12.51 4.96 -16.79 -7.07
12/31/2011 -13.57 4.62 -16.83 -6.12
1/31/2012 -8.92 10.87 -12.66 -1.91
2/29/2012 -3.96 16.17 -8.39 2.33
3/31/2012 -1.50 19.99 -7.22 5.69
4/30/2012 -1.78 19.80 -8.27 5.03
5/31/2012 -8.26 12.12 -16.19 -1.28
6/30/2012 -6.64 15.16 -11.92 2.79
7/31/2012 -5.59 16.71 -10.79 4.21
8/31/2012 -2.34 19.85 -8.52 6.56
9/30/2012 -0.69 22.20 -6.01 9.31
10/31/2012 -4.06 18.63 -6.65 7.30
11/30/2012 -2.04 20.62 -5.45 7.92
12/31/2012 -1.74 20.58 -3.67 8.90
1/31/2013 2.29 25.75 1.23 14.54
2/28/2013 3.51 27.32 1.40 16.10
3/31/2013 6.88 32.09 3.78 20.45
4/30/2013 7.53 34.90 7.04 22.77
5/31/2013 9.31 37.40 7.09 25.64
6/30/2013 6.67 34.82 4.45 23.96
7/31/2013 12.12 41.97 9.95 30.26
8/31/2013 9.96 39.53 7.61 26.49
9/30/2013 14.76 45.75 12.99 30.46
10/31/2013 19.41 52.20 17.41 36.46
11/30/2013 22.96 56.49 19.50 40.61
12/31/2013 27.00 60.96 22.02 44.17
1/31/2014 23.31 56.37 17.50 39.19
2/28/2014 30.94 64.42 23.39 45.56
3/31/2014 26.87 62.76 23.57 46.78
4/30/2014 25.64 62.77 24.83 47.86
5/31/2014 30.96 67.84 27.29 51.34
6/30/2014 34.97 71.11 29.57 54.46
7/31/2014 35.14 68.49 27.50 52.33
8/31/2014 40.85 76.21 30.31 58.43
9/30/2014 39.02 73.66 26.77 56.20
10/31/2014 42.42 78.23 27.59 60.02
11/30/2014 46.53 83.88 30.15 64.32
12/31/2014 46.13 81.97 28.05 63.91
1/31/2015 43.84 79.18 25.73 58.99
2/28/2015 53.15 91.12 33.09 68.13
3/31/2015 51.16 88.95 31.01 65.47
4/30/2015 50.10 89.90 34.08 67.05
5/31/2015 52.31 92.57 34.55 69.20
6/30/2015 51.94 89.18 31.42 65.93
7/31/2015 56.30 95.59 33.78 69.40
8/31/2015 45.29 83.71 24.92 59.18
9/30/2015 39.31 79.17 20.32 55.24
10/31/2015 51.82 94.60 29.85 68.34
11/30/2015 53.27 95.14 29.20 68.84
12/31/2015 50.83 92.28 26.93 66.18
1/31/2016 40.20 81.54 19.34 57.93
2/29/2016 34.83 81.47 18.45 57.72
3/31/2016 40.26 93.71 26.49 68.42
4/30/2016 38.75 91.94 28.49 69.07
5/31/2016 43.28 95.66 29.21 72.11
6/30/2016 41.29 94.90 27.76 72.55
7/31/2016 49.01 104.09 33.16 78.91
8/31/2016 48.23 103.08 33.27 79.17
9/30/2016 49.55 103.82 33.98 79.20
10/31/2016 45.04 99.04 31.39 75.93
11/30/2016 45.85 103.37 33.28 82.45
12/31/2016 47.30 105.89 36.47 86.05
1/31/2017 53.46 112.82 39.76 89.58
2/28/2017 59.56 121.66 43.64 97.11
3/31/2017 62.42 124.23 45.17 97.34
4/30/2017 66.62 129.36 47.32 99.36
5/31/2017 69.66 135.32 50.43 102.17
6/30/2017 69.57 134.70 51.01 103.43
7/31/2017 72.40 140.94 54.63 107.62
8/31/2017 74.77 145.35 54.84 108.25

The performance data quoted represents past performance, which does not guarantee future results. The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 9/21/2017

Date 2012 2013 2014 2015 2016
Short Term 1.6941 0.3461
Long Term 2.5532 7.8660 7.0818 2.1269
Total Amount of Distribution 2.5532 9.5601 7.4279 2.1269
Record Date 12/9/13 12/8/14 12/4/15 12/2/16
Ex Div Date 12/10/13 12/9/14 12/7/15 12/5/16
Pay Date 12/11/13 12/9/14 12/7/15 12/5/16

There is no guarantee of the payment of any dividend or other distributions at any level.

Analytics

(As of 8/31/2017)

Morningstar 8/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
1258
Category
Large Growth
Performance Statistics
3Y
5Y
Alpha
-3.65
-2.74
Information Ratio
-1.02
-0.77
Upside Capture
94.87
97.34
Downside Capture
125.95
120.99
Sharpe Ratio
0.69
1.14
R-Squared
90.10
90.69
Standard Deviation
11.65
10.98
Sortino Ratio
0.32
0.59
Win Ratio
42.00
38.00
Loss Ratio
58.00
62.00
Beta
1.03
1.04
Tracking Error
3.67
3.37
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/5/2016
Per Share ($)
$0.27
Net Income
0.00%
Net Profit from Sale
100.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.27
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$235.00 B
$210.50 B
Median Market Cap (weighted)
$82.10 B
$86.80 B
Trailing P/E
24.65
25.72
Forward P/E
19.55
20.98
Price/Book
4.63
6.67
Return on Equity
22.09%
23.69%
Turnover Ratio
79.00%
-

Top Issuers

(59.9% of assets as of 08/31/17)


Portfolio Holdings Breakdown

Country 5
Developed Markets 5
Equity Sector 5
Industry 5
Asset Allocation 5
Market Cap 6
Country Capital Appreciation Fund Russell 1000 Growth Overweight / Underweight
United States 96.2% 99.7% -3.5%
Canada 3.0% - -
Belgium 0.3% - -
Developed Markets Capital Appreciation Fund Russell 1000 Growth Overweight / Underweight
Americas 99.2% 99.7% -0.5%
Europe 0.3% 0.2% 0.1%
Equity Sector Capital Appreciation Fund Russell 1000 Growth Overweight / Underweight
Information Technology 38.6% 37.9% 0.8%
Consumer Discretionary 18.5% 17.8% 0.7%
Health Care 14.4% 13.8% 0.5%
Industrials 9.8% 12.1% -2.3%
Consumer Staples 6.6% 6.9% -0.3%
Financials 5.3% 3.3% 2.0%
Energy 2.3% 0.8% 1.5%
Real Estate 1.7% 2.7% -1.0%
Utilities 1.3% 0.0% 1.3%
Materials 1.0% 3.7% -2.7%
Industry Capital Appreciation Fund Russell 1000 Growth Overweight / Underweight
Internet Software & Services 12.0% 8.6% 3.4%
Software 9.2% 8.9% 0.3%
Technology Hardware Storage & Peripherals 7.6% 7.4% 0.2%
IT Services 6.6% 7.4% -0.8%
Biotechnology 5.8% 5.1% 0.6%
Internet & Direct Marketing Retail 5.6% 4.9% 0.7%
Specialty Retail 5.4% 3.3% 2.1%
Capital Markets 4.2% 1.8% 2.4%
Beverages 3.7% 3.0% 0.7%
Semiconductors & Semiconductor Equipment 3.2% 4.7% -1.4%
Health Care Equipment & Supplies 3.0% 2.7% 0.3%
Hotels Restaurants & Leisure 2.8% 3.3% -0.5%
Media 2.8% 3.6% -0.8%
Pharmaceuticals 2.5% 1.9% 0.6%
Health Care Providers & Services 2.3% 2.8% -0.5%
Oil Gas & Consumable Fuels 2.3% 0.6% 1.8%
Machinery 2.1% 2.3% -0.1%
Road & Rail 2.0% 1.1% 0.9%
Household Durables 2.0% 0.3% 1.7%
Equity Real Estate Investment Trusts (REITs) 1.7% 2.6% -0.9%
Asset Allocation Capital Appreciation Fund Russell 1000 Growth Overweight / Underweight
Equity 99.5% 100.0% -0.5%
Market Cap Capital Appreciation Fund Russell 1000 Growth Overweight / Underweight
Large 77.0% 81.4% -4.5%
Mid 16.9% 17.6% -0.7%
Small 5.7% 1.0% 4.7%
  1. 1. Paul Larson was added as portfolio manager of the Fund as of October 5, 2016. Michael Kotlarz will no longer be portfolio manager of the Fund as of October 5, 2016.
  2. 2. Special Risks: Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Investments in securities of growth companies may be volatile. Diversification does not guarantee profit or protect against loss.
  3. 3. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  4. 4. Access index definitions.
  5. 5. Holdings are subject to change, and are dollar weighted based on total net assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the fund's net asset value and fluctuations of dividends and distributions paid by the fund.
  6. 6. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund’s prospectus.
  7. 7. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
  8. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily. ↩
  9. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment. ↩
  10. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions. ↩
  11. D. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
  12. E. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩
  13. F. The performance data quoted represents past performance, which does not guarantee future results. The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩
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