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Domestic Equity

Discovery Fund
  • A
  • 1

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

Investment Style
Small Cap Growth
Fund Inception
June 1, 1994
Total Assets (all classes) (as of 8/31/2017)
$2 billion
Fund Index
Russell 2000 Growth
NAV (as of 9/22/17)
  • B
$89.18
Special Notice

As of 6/28/13, the purchase and exchange of Fund shares is restricted, subject to certain exceptions. Please see the prospectus for further information.

×

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
ytd as of 9/22/17
  • D
1 yr 3 yr 5 yr 10 yr since inception
Discovery Fund (NAV)
18.68% 18.75% 7.88% 12.81% 8.84% 8.38%
Cumulative
Annualized
ytd as of 9/22/17
  • D
1 yr 3 yr 5 yr 10 yr since inception
Discovery Fund (NAV)
18.68% 14.81% 8.90% 12.03% 8.80% 8.37%
Gross Expense Ratio: 0.87% | Net Expense Ratio: 0.87%

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.


Year Discovery Fund Russell 2000 Growth
1994 0.00% -2.43%
1995 36.97% 31.04%
1996 15.08% 11.26%
1997 10.74% 12.95%
1998 -1.73% 1.23%
1999 51.72% 43.09%
2000 -13.04% -22.43%
2001 -11.32% -9.23%
2002 -23.86% -30.26%
2003 39.34% 48.54%
2004 4.33% 14.31%
2005 1.60% 4.15%
2006 5.07% 13.35%
2007 26.08% 7.05%
2008 -38.41% -38.54%
2009 27.64% 34.47%
2010 28.33% 29.09%
2011 1.90% -2.91%
2012 17.41% 14.59%
2013 46.55% 43.30%
2014 -1.96% 5.60%
2015 2.22% -1.38%
2016 4.48% 11.32%

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.


Date Discovery Fund Russell 2000® Growth Index MSCI World S&P 500
8/31/2007 0.00 0.00 0.00 0.00
9/30/2007 7.04 2.91 4.76 3.74
10/31/2007 13.76 7.54 7.97 5.39
11/30/2007 6.59 0.11 3.56 0.98
12/31/2007 8.31 0.74 2.22 0.28
1/31/2008 -3.60 -8.50 -5.59 -5.73
2/29/2008 -7.13 -11.67 -6.14 -8.79
3/31/2008 -8.24 -12.18 -7.04 -9.19
4/30/2008 -1.81 -7.67 -2.15 -4.77
5/31/2008 3.96 -2.44 -0.66 -3.53
6/30/2008 1.94 -8.26 -8.58 -11.66
7/31/2008 2.02 -6.12 -10.82 -12.41
8/31/2008 2.05 -3.79 -12.07 -11.14
9/30/2008 -10.91 -14.66 -22.53 -19.06
10/31/2008 -27.67 -33.19 -37.22 -32.65
11/30/2008 -35.99 -41.27 -41.28 -37.48
12/31/2008 -33.48 -38.09 -39.40 -36.82
1/31/2009 -36.63 -42.80 -44.71 -42.14
2/28/2009 -42.42 -48.72 -50.37 -48.30
3/31/2009 -39.14 -44.12 -46.62 -43.78
4/30/2009 -35.28 -35.70 -40.64 -38.40
5/31/2009 -33.31 -33.22 -35.26 -34.95
6/30/2009 -31.28 -31.05 -35.55 -34.82
7/31/2009 -27.19 -25.71 -30.09 -29.89
8/31/2009 -26.25 -24.98 -27.21 -27.36
9/30/2009 -21.61 -20.05 -24.30 -24.65
10/31/2009 -25.33 -25.61 -25.65 -26.05
11/30/2009 -21.90 -23.31 -22.61 -21.61
12/31/2009 -15.32 -16.74 -21.22 -20.10
1/31/2010 -19.67 -20.47 -24.48 -22.97
2/28/2010 -16.49 -17.00 -23.41 -20.59
3/31/2010 -9.81 -10.40 -18.67 -15.79
4/30/2010 -7.01 -6.64 -18.66 -14.47
5/31/2010 -12.78 -12.82 -26.45 -21.30
6/30/2010 -18.60 -18.67 -28.97 -25.42
7/31/2010 -14.76 -13.29 -23.21 -20.19
8/31/2010 -18.87 -19.61 -26.08 -23.79
9/30/2010 -8.56 -8.23 -19.19 -16.99
10/31/2010 -3.14 -4.28 -16.18 -13.83
11/30/2010 2.12 -0.11 -17.99 -13.82
12/31/2010 8.18 7.47 -11.96 -8.06
1/31/2011 10.23 6.87 -9.97 -5.88
2/28/2011 18.50 13.16 -6.81 -2.66
3/31/2011 24.20 17.40 -7.73 -2.62
4/30/2011 30.14 21.63 -3.81 0.26
5/31/2011 26.54 19.26 -5.81 -0.87
6/30/2011 25.81 16.71 -7.30 -2.52
7/31/2011 20.51 12.14 -8.98 -4.51
8/31/2011 10.48 2.53 -15.39 -9.69
9/30/2011 1.08 -9.26 -22.70 -16.04
10/31/2011 12.67 5.14 -14.71 -6.87
11/30/2011 11.79 4.58 -16.79 -7.07
12/31/2011 9.77 4.35 -16.83 -6.12
1/31/2012 15.28 12.15 -12.66 -1.91
2/29/2012 22.37 15.85 -8.39 2.33
3/31/2012 25.74 18.20 -7.22 5.69
4/30/2012 28.98 16.26 -8.27 5.03
5/31/2012 20.31 7.98 -16.19 -1.28
6/30/2012 23.65 13.55 -11.92 2.79
7/31/2012 23.91 11.57 -10.79 4.21
8/31/2012 29.42 15.57 -8.52 6.56
9/30/2012 33.29 19.04 -6.01 9.31
10/31/2012 28.47 15.34 -6.65 7.30
11/30/2012 26.81 16.22 -5.45 7.92
12/31/2012 28.42 19.57 -3.67 8.90
1/31/2013 35.88 27.44 1.23 14.54
2/28/2013 36.21 28.79 1.40 16.10
3/31/2013 43.08 35.37 3.78 20.45
4/30/2013 41.75 34.48 7.04 22.77
5/31/2013 48.49 41.30 7.09 25.64
6/30/2013 49.64 40.42 4.45 23.96
7/31/2013 61.73 51.04 9.95 30.26
8/31/2013 64.04 48.09 7.61 26.49
9/30/2013 74.05 58.40 12.99 30.46
10/31/2013 78.17 61.29 17.41 36.46
11/30/2013 82.56 67.91 19.50 40.61
12/31/2013 87.64 71.35 22.02 44.17
1/31/2014 84.63 68.39 17.50 39.19
2/28/2014 94.18 76.53 23.39 45.56
3/31/2014 83.15 72.18 23.57 46.78
4/30/2014 67.13 63.34 24.83 47.86
5/31/2014 66.54 64.91 27.29 51.34
6/30/2014 78.91 75.14 29.57 54.46
7/31/2014 67.88 64.54 27.50 52.33
8/31/2014 75.83 73.71 30.31 58.43
9/30/2014 70.21 64.41 26.77 56.20
10/31/2014 79.03 74.61 27.59 60.02
11/30/2014 80.75 75.74 30.15 64.32
12/31/2014 83.52 80.95 28.05 63.91
1/31/2015 80.24 76.82 25.73 58.99
2/28/2015 93.77 89.54 33.09 68.13
3/31/2015 97.14 92.94 31.01 65.47
4/30/2015 90.10 87.27 34.08 67.05
5/31/2015 99.42 94.15 34.55 69.20
6/30/2015 104.10 96.76 31.42 65.93
7/31/2015 110.75 97.56 33.78 69.40
8/31/2015 93.41 82.59 24.92 59.18
9/30/2015 84.56 71.06 20.32 55.24
10/31/2015 91.57 80.76 29.85 68.34
11/30/2015 94.58 87.39 29.20 68.84
12/31/2015 87.16 78.45 26.93 66.18
1/31/2016 69.30 59.11 19.34 57.93
2/29/2016 65.90 57.99 18.45 57.72
3/31/2016 76.31 70.09 26.49 68.42
4/30/2016 79.16 71.79 28.49 69.07
5/31/2016 84.04 76.41 29.21 72.11
6/30/2016 88.27 75.60 27.76 72.55
7/31/2016 96.14 87.09 33.16 78.91
8/31/2016 96.86 89.07 33.27 79.17
9/30/2016 96.83 91.80 33.98 79.20
10/31/2016 86.75 79.88 31.39 75.93
11/30/2016 98.07 95.97 33.28 82.45
12/31/2016 95.07 98.64 36.47 86.05
1/31/2017 103.42 101.87 39.76 89.58
2/28/2017 107.97 106.82 43.64 97.11
3/31/2017 112.11 109.27 45.17 97.34
4/30/2017 117.30 113.12 47.32 99.36
5/31/2017 120.49 111.19 50.43 102.17
6/30/2017 123.00 118.45 51.01 103.43
7/31/2017 125.91 120.31 54.63 107.62
8/31/2017 125.45 120.06 54.84 108.25

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.

$ per share as of 9/22/2017

Date 2012 2013 2014 2015 2016
Short Term
Long Term 4.3957 5.9890 7.0126 4.6368 2.9326
Total Amount of Distribution 4.3957 5.9890 7.0126 4.6368 2.9326
Record Date 12/4/12 12/3/13 12/2/14 12/2/15 12/5/16
Ex Div Date 12/5/12 12/4/13 12/3/14 12/3/15 12/6/16
Pay Date 12/6/12 12/5/13 12/3/14 12/3/15 12/6/16

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
600
Category
Small Growth
Analyst Rating (as of 7/26/17)
Silver
Performance Statistics
3Y
5Y
Alpha
1.97
-0.17
Information Ratio
0.13
-0.32
Upside Capture
87.87
88.63
Downside Capture
78.90
89.50
Sharpe Ratio
0.68
0.87
R-Squared
87.16
86.51
Standard Deviation
13.43
14.06
Sortino Ratio
0.29
0.39
Win Ratio
53.00
47.00
Loss Ratio
47.00
53.00
Beta
0.82
0.90
Tracking Error
5.55
5.38
Dividends
  • E
Est. Frequency
Annual
Last Pay Date
12/6/2016
Per Share ($)
$0.00
Net Income
0.00%
Net Profit from Sale
100.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.00
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$4.40 B
$2.30 B
Median Market Cap (weighted)
$3.70 B
$2.20 B
Trailing P/E
46.06
56.60
Forward P/E
29.61
30.65
Price/Book
5.25
4.27
Return on Equity
9.77%
5.32%
Turnover Ratio
89.00%
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Top Issuers

(32.3% 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 Discovery Fund Russell 2000 Growth Overweight / Underweight
United States 96.7% 99.8% -3.0%
Canada 0.6% 0.1% 0.5%
Israel 0.5% 0.0% 0.5%
Germany 0.3% - -
Developed Markets Discovery Fund Russell 2000 Growth Overweight / Underweight
Americas 97.3% 99.9% -2.6%
Middle East 0.5% 0.0% 0.5%
Europe 0.3% 0.0% 0.3%
Equity Sector Discovery Fund Russell 2000 Growth Overweight / Underweight
Information Technology 30.3% 24.7% 5.7%
Health Care 23.0% 24.9% -1.9%
Industrials 19.5% 17.2% 2.3%
Consumer Discretionary 12.7% 13.7% -1.1%
Financials 6.9% 5.9% 1.1%
Materials 3.6% 4.6% -1.0%
Real Estate 1.1% 3.6% -2.4%
Energy 1.0% 1.0% 0.0%
Consumer Staples 0.1% 2.5% -2.5%
Industry Discovery Fund Russell 2000 Growth Overweight / Underweight
Software 11.7% 6.4% 5.3%
Health Care Equipment & Supplies 10.1% 6.0% 4.0%
Semiconductors & Semiconductor Equipment 7.0% 5.1% 1.9%
Internet Software & Services 6.5% 5.5% 1.0%
Aerospace & Defense 5.1% 1.0% 4.1%
Biotechnology 4.7% 9.6% -4.9%
Electronic Equipment Instruments & Components 4.1% 2.3% 1.8%
Machinery 4.0% 4.3% -0.3%
Hotels Restaurants & Leisure 3.8% 4.6% -0.8%
Construction & Engineering 3.1% 1.5% 1.6%
Health Care Technology 3.1% 1.3% 1.8%
Banks 3.0% 2.1% 0.9%
Air Freight & Logistics 2.5% 0.3% 2.2%
Building Products 2.2% 1.8% 0.4%
Chemicals 1.9% 2.7% -0.8%
Life Sciences Tools & Services 1.9% 1.6% 0.3%
Health Care Providers & Services 1.8% 3.1% -1.3%
Diversified Consumer Services 1.8% 1.1% 0.7%
Capital Markets 1.7% 1.4% 0.3%
Distributors 1.6% 0.1% 1.5%
Asset Allocation Discovery Fund Russell 2000 Growth Overweight / Underweight
Equity 98.2% 100.0% -1.8%
Market Cap Discovery Fund Russell 2000 Growth Overweight / Underweight
Small 62.2% 95.0% -32.8%
Mid 34.9% 4.8% 30.1%
Large 1.0% - -
  1. 1. Special Risks: Small-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a small-sized company, if any gain is realized at all. Investments in securities of growth companies may be volatile. Diversification does not guarantee profit or protect against loss.
  2. 2. 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.
  3. 3. Access index definitions.
  4. 4. The Morningstar Analyst Rating is not a credit or risk rating but a subjective evaluation performed by the analysts of Morningstar, Inc. (Mstar). Mstar evaluates funds based on five key pillars (process, performance, people, parent and price). Mstar's analysts use this evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors and the weightings of each pillar may vary. The Analyst Rating reflects overall assessment and is overseen by Morningstar's Analyst Rating Committee. The analyst rating scale is five-tiered, with three positive ratings (Gold, Silver, Bronze), a Neutral rating and a Negative rating, with Gold being the highest rating and Negative being the lowest rating. The Mstar Analyst Ratings should not be used as the sole basis in evaluating a mutual fund and are based on Mstar's current expectations about future events. Mstar does not represent ratings as a guarantee. Analyst Ratings involve unknown risks and uncertainties which may cause Mstar's expectations not to occur or to differ significantly.
  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. As of 6/28/13, the purchase and exchange of Fund shares is restricted, subject to certain exceptions. Please see the prospectus for further information. ↩
  9. B. 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. ↩
  10. C. 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. ↩
  11. D. "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. ↩
  12. E. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
  13. F. 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. ↩
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