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Domestic Equity

Discovery Mid Cap Growth Fund

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

Investment Style
Mid Cap Growth
Fund Inception
February 28, 2013
Total Assets (all classes) (as of 7/31/2017)
$935 million
Fund Index
Russell Midcap Growth
NAV (as of 8/18/17)
  • A
$21.79

Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 7/31/2017
  • F
as of 6/30/2017
  • F

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
1 mo 3 mo ytd as of 8/18/17
  • C
1 yr 3 yr since inception
Discovery Mid Cap Growth Fund (NAV)
-0.55% 5.38% 14.62% 15.08% 9.43% 12.92%
Cumulative
Annualized
1 mo 3 mo ytd as of 8/18/17
  • C
1 yr 3 yr since inception
Discovery Mid Cap Growth Fund (NAV)
1.70% 5.19% 14.62% 12.26% 11.17% 13.08%
Gross Expense Ratio: 0.71% | Net Expense Ratio: 0.71%

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 Discovery Mid Cap Growth Fund Russell Midcap Growth
2013 0.00% 37.06%
2014 5.94% 11.90%
2015 6.53% -0.20%
2016 2.35% 7.33%

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 Discovery Mid Cap Growth Fund Russell Midcap® Growth Index (Linked Index)
MSCI World
S&P 500
7/31/2007 0.00 0.00 0.00 0.00
8/31/2007 3.06 1.53 -0.08 1.50
9/30/2007 10.31 5.06 4.68 5.29
10/31/2007 17.15 9.41 7.89 6.97
11/30/2007 9.82 2.95 3.48 2.50
12/31/2007 11.63 2.86 2.14 1.79
1/31/2008 -0.55 -5.52 -5.66 -4.32
2/29/2008 -4.21 -7.42 -6.21 -7.43
3/31/2008 -5.40 -8.54 -7.11 -7.83
4/30/2008 1.19 -3.03 -2.23 -3.34
5/31/2008 7.14 2.08 -0.74 -2.09
6/30/2008 4.76 -5.23 -8.65 -10.34
7/31/2008 4.85 -5.56 -10.88 -11.09
8/31/2008 4.85 -3.98 -12.14 -9.81
9/30/2008 -8.43 -16.69 -22.59 -17.84
10/31/2008 -25.73 -35.45 -37.26 -31.64
11/30/2008 -34.25 -42.73 -41.33 -36.55
12/31/2008 -31.78 -39.83 -39.44 -35.87
1/31/2009 -34.98 -43.45 -44.75 -41.28
2/28/2009 -40.93 -48.34 -50.40 -47.53
3/31/2009 -37.27 -43.42 -46.66 -42.93
4/30/2009 -33.24 -35.00 -40.68 -37.47
5/31/2009 -31.41 -32.67 -35.31 -33.97
6/30/2009 -29.58 -31.09 -35.60 -33.84
7/31/2009 -25.82 -25.74 -30.14 -28.84
8/31/2009 -24.82 -24.22 -27.26 -26.27
9/30/2009 -20.60 -19.26 -24.36 -23.52
10/31/2009 -23.90 -23.70 -25.71 -24.94
11/30/2009 -20.79 -20.87 -22.67 -20.44
12/31/2009 -15.29 -14.76 -21.28 -18.90
1/31/2010 -20.24 -18.28 -24.54 -21.82
2/28/2010 -15.93 -14.11 -23.47 -19.40
3/31/2010 -10.62 -7.26 -18.73 -14.53
4/30/2010 -7.88 -4.01 -18.72 -13.18
5/31/2010 -14.29 -10.53 -26.51 -20.12
6/30/2010 -19.51 -16.32 -29.03 -24.30
7/31/2010 -14.47 -10.73 -23.27 -18.99
8/31/2010 -17.31 -16.39 -26.14 -22.65
9/30/2010 -7.42 -5.31 -19.25 -15.75
10/31/2010 -3.21 -1.75 -16.24 -12.54
11/30/2010 2.11 2.21 -18.05 -12.53
12/31/2010 7.05 9.84 -12.02 -6.68
1/31/2011 9.07 11.08 -10.04 -4.47
2/28/2011 15.75 17.17 -6.89 -1.20
3/31/2011 20.42 20.64 -7.80 -1.16
4/30/2011 23.90 24.85 -3.89 1.77
5/31/2011 21.52 23.32 -5.88 0.61
6/30/2011 22.34 21.10 -7.37 -1.06
7/31/2011 18.68 16.40 -9.05 -3.07
8/31/2011 9.07 6.87 -15.46 -8.34
9/30/2011 -0.46 -4.76 -22.76 -14.78
10/31/2011 11.08 9.95 -14.77 -5.47
11/30/2011 10.71 9.43 -16.85 -5.68
12/31/2011 7.42 8.11 -16.90 -4.71
1/31/2012 13.92 16.44 -12.73 -0.44
2/29/2012 21.06 21.80 -8.46 3.86
3/31/2012 24.73 23.90 -7.29 7.28
4/30/2012 26.74 22.84 -8.34 6.61
5/31/2012 18.50 13.59 -16.25 0.20
6/30/2012 21.61 17.24 -11.98 4.33
7/31/2012 20.05 16.07 -10.85 5.78
8/31/2012 24.73 20.56 -8.59 8.16
9/30/2012 27.01 23.36 -6.08 10.95
10/31/2012 22.34 21.04 -6.72 8.90
11/30/2012 23.44 23.16 -5.52 9.54
12/31/2012 24.08 25.55 -3.75 10.53
1/31/2013 30.95 34.17 1.16 16.26
2/28/2013 31.23 35.00 1.32 17.84
3/31/2013 34.98 40.87 3.70 22.26
4/30/2013 34.98 41.36 6.96 24.61
5/31/2013 37.73 47.17 7.00 27.53
6/30/2013 37.00 45.41 4.37 25.82
7/31/2013 46.25 54.46 9.86 32.22
8/31/2013 47.07 51.52 7.52 28.39
9/30/2013 56.14 58.99 12.90 32.41
10/31/2013 61.63 63.16 17.32 38.50
11/30/2013 63.10 66.76 19.41 42.72
12/31/2013 67.54 72.08 21.93 46.34
1/31/2014 67.06 68.34 17.42 41.28
2/28/2014 78.86 78.91 23.29 47.74
3/31/2014 68.40 75.59 23.47 48.98
4/30/2014 56.90 73.02 24.74 50.08
5/31/2014 60.16 77.72 27.19 53.60
6/30/2014 68.50 83.27 29.47 56.78
7/31/2014 63.32 77.80 27.40 54.62
8/31/2014 72.14 87.38 30.21 60.80
9/30/2014 68.02 81.94 26.67 58.55
10/31/2014 72.24 86.96 27.49 62.42
11/30/2014 76.84 93.11 30.05 66.79
12/31/2014 76.59 92.56 27.95 66.37
1/31/2015 75.31 89.32 25.63 61.37
2/28/2015 88.29 102.35 32.99 70.65
3/31/2015 90.74 102.92 30.91 67.95
4/30/2015 87.23 101.49 33.98 69.56
5/31/2015 92.87 103.88 34.44 71.74
6/30/2015 93.40 100.60 31.32 68.41
7/31/2015 98.19 103.85 33.67 71.94
8/31/2015 87.33 91.99 24.83 61.57
9/30/2015 80.21 84.57 20.22 57.57
10/31/2015 88.72 96.19 29.75 70.86
11/30/2015 90.10 96.62 29.11 71.37
12/31/2015 87.35 92.17 26.84 68.67
1/31/2016 74.15 77.63 19.25 60.30
2/29/2016 70.71 80.41 18.36 60.08
3/31/2016 80.92 93.29 26.39 70.94
4/30/2016 82.36 93.17 28.39 71.60
5/31/2016 88.35 96.34 29.11 74.69
6/30/2016 90.13 96.31 27.67 75.14
7/31/2016 98.11 106.03 33.06 81.60
8/31/2016 97.67 105.43 33.17 81.85
9/30/2016 96.56 105.32 33.88 81.89
10/31/2016 88.35 96.98 31.29 78.57
11/30/2016 93.45 105.54 33.18 85.18
12/31/2016 90.90 106.26 36.36 88.84
1/31/2017 99.74 113.14 39.65 92.42
2/28/2017 105.78 119.26 43.53 100.06
3/31/2017 106.90 120.48 45.06 100.30
4/30/2017 110.81 123.75 47.21 102.35
5/31/2017 119.20 129.09 50.32 105.20
6/30/2017 117.86 129.77 50.90 106.48
7/31/2017 121.44 133.61 54.51 110.73

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 8/19/2017

Date 2012 2013 2014 2015 2016
Short Term
Long Term 0.7847 1.7708 0.7206 0.1518
Total Amount of Distribution 0.7847 1.7708 0.7206 0.1518
Record Date 12/10/13 12/9/14 12/2/15 12/5/16
Ex Div Date 12/11/13 12/10/14 12/3/15 12/6/16
Pay Date 12/12/13 12/10/14 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 7/31/2017)

Morningstar 7/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
572
Category
Mid-Cap Growth
Performance Statistics
3Y
Alpha
2.30
Information Ratio
0.42
Sharpe Ratio
0.98
R-Squared
88.42
Standard Deviation
11.16
Sortino Ratio
0.48
Win Ratio
67.00
Loss Ratio
33.00
Beta
0.91
Tracking Error
3.93
Dividends
  • D
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)
$14.80 B
$14.00 B
Median Market Cap (weighted)
$13.20 B
$12.40 B
Trailing P/E
31.95
27.89
Forward P/E
24.41
21.02
Price/Book
5.32
6.01
Return on Equity
17.02%
18.76%
Turnover Ratio
128.00%
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Top Issuers

(30.7% of assets as of 07/31/17)


Portfolio Holdings Breakdown

Country 4
Developed Markets 4
Equity Sector 4
Industry 4
Asset Allocation 4
Market Cap 5
Country Discovery Mid Cap Growth Fund Russell Midcap Growth Overweight / Underweight
United States 93.1% 99.5% -6.4%
Canada 3.5% - -
Developed Markets Discovery Mid Cap Growth Fund Russell Midcap Growth Overweight / Underweight
Americas 96.6% 99.5% -2.9%
Equity Sector Discovery Mid Cap Growth Fund Russell Midcap Growth Overweight / Underweight
Information Technology 22.6% 27.2% -4.6%
Industrials 19.0% 16.7% 2.3%
Health Care 16.7% 14.9% 1.8%
Consumer Discretionary 15.3% 17.3% -2.0%
Financials 9.0% 7.1% 1.9%
Materials 6.3% 6.5% -0.2%
Real Estate 3.3% 3.4% -0.1%
Consumer Staples 2.9% 4.4% -1.5%
Energy 1.6% 2.3% -0.7%
Industry Discovery Mid Cap Growth Fund Russell Midcap Growth Overweight / Underweight
Hotels Restaurants & Leisure 8.2% 3.6% 4.5%
Software 7.9% 7.1% 0.7%
Health Care Equipment & Supplies 7.2% 4.8% 2.4%
IT Services 5.0% 8.0% -3.0%
Semiconductors & Semiconductor Equipment 4.8% 6.0% -1.2%
Capital Markets 4.1% 4.2% -0.1%
Machinery 3.5% 4.7% -1.2%
Life Sciences Tools & Services 3.5% 2.8% 0.6%
Equity Real Estate Investment Trusts (REITs) 3.3% 3.2% 0.1%
Electronic Equipment Instruments & Components 3.3% 2.7% 0.6%
Commercial Services & Supplies 3.1% 1.1% 2.0%
Building Products 3.1% 1.4% 1.7%
Chemicals 2.9% 2.5% 0.4%
Professional Services 2.8% 1.9% 0.9%
Banks 2.8% 1.1% 1.7%
Containers & Packaging 2.3% 2.6% -0.3%
Biotechnology 2.1% 3.3% -1.2%
Household Durables 1.8% 1.1% 0.7%
Distributors 1.7% 0.4% 1.3%
Food Products 1.6% 1.8% -0.2%
Asset Allocation Discovery Mid Cap Growth Fund Russell Midcap Growth Overweight / Underweight
Equity 96.6% 100.0% -3.4%
Net Cash and Equivalents 3.4% - -
Market Cap Discovery Mid Cap Growth Fund Russell Midcap Growth Overweight / Underweight
Mid 74.2% 71.7% 2.5%
Large 22.4% 24.3% -1.9%
  1. 1. Special Risks:  Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Investments in securities of growth companies may be volatile. Mid-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 mid-sized company, if any gain is realized at all. 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. 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.
  5. 5. 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.
  6. 6. 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.
  7. 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. ↩
  8. 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. ↩
  9. 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. ↩
  10. D. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
  11. 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. ↩
  12. 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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