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DMCRX Driehaus Micro Cap Growth

  • Fund
  • DMCRX
  • Price as of: Jan 19, 2018
  • $15.05
  • + $0.30
  • + 2.03%
  • Category
  • Micro Cap Equities

DMCRX - Profile

Vitals

  • YTD Return 4.2%
  • 3 Yr Annualized Return 13.3%
  • 5 Yr Annualized Return 20.1%
  • Net Assets $323 M
  • Holdings in Top 10 17.0%

52 WEEK LOW AND HIGH

$15.05
$12.36
$15.78

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.48%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 180.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

Closed to new investors as of 2017-10-02

STANDARD (TAXABLE)

$10,000

IRA

$2,000

Investment Themes

CATEGORY

Micro Cap Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Small Growth

Distributions

  • YTD Total Return 4.2%
  • 3 Yr Annualized Total Return 13.3%
  • 5 Yr Annualized Total Return 20.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.00%
DIVIDENDS
  • Dividend Yield N/A
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Driehaus Micro Cap Growth Fund
  • Fund Family Name Driehaus
  • Inception Date Nov 18, 2013
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager Jeffrey James

Fund Description

The fund uses a growth style of investment in equity securities, including common and preferred stocks. Under normal market conditions, it invests at least 80% of its net assets (plus the amount of borrowings for investment purposes) in the equity securities of U.S. micro-capitalization ("micro-cap") companies. For purposes of the fund, the investment adviser currently considers a company to be a micro-cap company if it is within the same market capitalization range at the time of investment as those included in the Russell Microcap® Growth Index.

DMCRX - Performance

Return Ranking - Trailing

Period DMCRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.2% -13.2% 10.3% 30.51% 2
1 Yr 24.3% -13.9% 38.4% 13.33% 1
3 Yr 13.3% * -1.9% 19.2% 5.56% 1
5 Yr 20.1% * 3.8% 21.2% 5.88% 1
10 Yr 9.3% * 1.8% 10.8% 19.35% 1

* Annualized


Return Ranking - Calendar

Period DMCRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 14.2% -17.6% 28.9% 15.52% 1
2016 17.8% -22.1% 33.0% 39.29% 2
2015 -4.5% -30.4% 3.3% 25.93% 2
2014 4.7% -24.9% 28.6% 5.88% 1
2013 N/A 1.8% 64.7% N/A N/A

Total Return Ranking - Trailing

Period DMCRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.2% -13.2% 10.3% 30.51% 2
1 Yr 24.3% -10.9% 38.4% 13.33% 1
3 Yr 13.3% * 0.5% 19.2% 5.56% 1
5 Yr 20.1% * 3.9% 21.2% 5.88% 1
10 Yr 9.3% * 1.8% 10.8% 16.13% 1

* Annualized


Total Return Ranking - Calendar

Period DMCRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 14.2% -17.6% 28.9% 15.52% 1
2016 17.8% -10.7% 33.0% 39.29% 2
2015 -0.5% -16.2% 8.2% 25.93% 2
2014 8.8% -8.6% 47.2% 11.76% 1
2013 N/A 1.8% 386.6% N/A N/A

NAV & Total Return History

DMCRX - Holdings

Filings data as of: Nov 30, 2017

Concentration Analysis

DMCRX Category Low Category High DMCRX % Rank Quintile
Net Assets 323 M 3.66 M 6.38 B 6.56% 1
Number of Holdings 126 38 1562 13.11% 2
Net Assets in Top 10 56.7 M 405 K 250 M 6.56% 1
Weighting of Top 10 17.0% 3.8% 43.5% 39.34% 3

Top 10 Holdings

  1. Loxo Oncology Inc 1.56%
  2. GTT Communications Inc 1.88%
  3. Tactile Systems Technology Inc 1.76%
  4. Five9 Inc 1.87%
  5. Mimecast Ltd 1.59%
  6. SMART Global Holdings Inc 1.68%
  7. Array BioPharma Inc 1.73%
  8. AxoGen Inc 1.83%
  9. Winnebago Industries Inc 1.56%
  10. Inogen Inc 1.52%

Asset Allocation

Weighting Category Low Category High DMCRX % Rank Quintile
Stocks
99.32% 74.74% 100.00% 4.92% 1
Preferred Stocks
0.60% 0.00% 3.48% 8.20% 1
Cash
0.08% 0.00% 21.82% 52.46% 5
Other
0.00% 0.00% 5.38% 19.67% 5
Convertible Bonds
0.00% 0.00% 0.02% 3.28% 4
Bonds
0.00% -0.08% 3.42% 4.92% 4

Stock Sector Breakdown

Weighting Category Low Category High DMCRX % Rank Quintile
Technology
26.50% 6.04% 51.27% 11.48% 2
Healthcare
22.24% 1.26% 30.21% 9.84% 2
Consumer Cyclical
17.69% 5.54% 42.26% 18.03% 1
Industrials
11.96% 5.67% 28.87% 44.26% 4
Financial Services
6.91% 0.00% 34.45% 50.82% 4
Consumer Defense
3.71% 0.00% 9.92% 22.95% 2
Basic Materials
3.71% 0.00% 11.31% 40.98% 4
Communication Services
3.15% 0.00% 6.32% 6.56% 2
Energy
2.66% 0.00% 10.66% 29.51% 3
Real Estate
0.79% 0.00% 8.78% 37.70% 4
Utilities
0.00% 0.00% 6.35% 18.03% 5

Stock Geographic Breakdown

Weighting Category Low Category High DMCRX % Rank Quintile
US
92.73% 65.52% 99.11% 29.51% 3
Non US
6.59% 0.00% 23.41% 8.20% 1

DMCRX - Expenses

Operational Fees

DMCRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.48% 0.52% 6.72% 63.93% 2
Management Fee 1.25% 0.50% 1.50% 4.92% 5
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.07% 0.01% 0.40% 24.00% 2

Sales Fees

DMCRX Fees (% of AUM) Category Low Category High DMCRX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

DMCRX Fees (% of AUM) Category Low Category High DMCRX Rank Quintile
Max Redemption Fee 2.00% 1.00% 2.00% 3.13% 4

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DMCRX Fees (% of AUM) Category Low Category High DMCRX Rank Quintile
Turnover 180.00% 8.82% 180.00% 1.72% 5

DMCRX - Distributions

Dividend Yield Analysis

DMCRX Category Low Category High DMCRX % Rank Quintile
Dividend Yield N/A 0.01% 0.63% N/A N/A

Dividend Distribution Analysis

DMCRX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

DMCRX Category Low Category High DMCRX % Rank Quintile
Net Income Ratio -1.00% -2.70% 0.75% 54.10% 4

Capital Gain Distribution Analysis

DMCRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

DMCRX - Managers

Jeffrey James

Manager

Start Date

Nov 05, 2013

Tenure

4.16

Tenure Rank

27.2%

Jeffrey James is the portfolio manager for the Micro Cap Growth, Small Cap Growth and Small/Mid Cap Growth strategies. In his role as portfolio manager, he has final responsibility for the strate- gies portfolio construction, risk management and buy/sell decisions. Additionally, he is respon- sible for implementation of the investment philosophy, idea generation as well as the evaluation of macro-level trends and the market environment. Mr. James began his career with Lehman Brothers in 1990. From 1991 to 1997, he worked at the Federal Reserve Bank of Chicago as an analyst and joined Driehaus Capital Management in 1997 as a sector analyst covering the information technology and energy sectors for the firm’s Small Cap Growth and Mid Cap Growth strategies. In 1998, he began managing the Driehaus Micro Cap Growth strategy. From 2001 to 2005, he also served as portfolio manager for the firm’s long/short hedge fund. He was named portfolio manager of the Driehaus Small Cap Growth strategy in 2006. Mr. James received his B.S. in finance from Indiana University in 1990 and his MBA from DePaul University in 1995.


Michael Buck

Manager

Start Date

Nov 05, 2013

Tenure

4.16

Tenure Rank

27.2%

Michael Buck is the assistant portfolio manager for the Micro Cap Growth, Small Cap Growth and SMID Cap Growth strategies. In his role as assistant portfolio manager he is responsible for providing depth of leadership to the research team and identifying appropriate investment ideas relevant to the strategies. Additionally, Mr. Buck acts as a senior analyst focusing on U.S. micro and small cap stocks within the consumer discretionary, consumer staples and financials sectors. Mr. Buck began his career at Deloitte Consulting, LLC as a business analyst until he joined Drie- haus Capital Management in 2002. He received his B.A. and B.M. in economics and cello perfor- mance from Northwestern University in 2000.


Tenure Analysis

Category Low

0.1

Category High

23.5

Category Average

6.22

Category Mode

3.0