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Name

As of 12/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Jackson Square SMID-Cap Growth Fund

JSMTX | Fund

$18.90

$207 M

0.00%

0.96%

Vitals

YTD Return

1.9%

1 yr return

1.3%

3 Yr Avg Return

-11.3%

5 Yr Avg Return

0.2%

Net Assets

$207 M

Holdings in Top 10

44.8%

52 WEEK LOW AND HIGH

$18.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.96%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 56.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

$100,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Jackson Square SMID-Cap Growth Fund

JSMTX | Fund

$18.90

$207 M

0.00%

0.96%

JSMTX - Profile

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return -11.3%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.76%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Jackson Square SMID-Cap Growth Fund
  • Fund Family Name
    Jackson Square
  • Inception Date
    Sep 16, 2016
  • Shares Outstanding
    25951609
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kenneth Broad

Fund Description

The Fund is non-diversified and invests primarily in common stocks of growth-oriented companies that the Adviser believes have long-term capital appreciation potential and may grow faster than the U.S. economy. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities issued by small-and mid-capitalization companies. This investment policy can be changed by the Fund upon 60 days’ prior written notice to shareholders. The Adviser defines small-and mid-capitalization companies as companies, at the time of purchase, within the range of the capitalization of companies constituting the Russell 2500® Growth Index. As of December 31, 2023, the capitalization range of the Russell 2500® Growth Index was between approximately $24 million and $21 billion. The Fund tends to hold a relatively focused portfolio of between 25 and 35 companies, although from time to time the Fund may hold fewer or more stocks depending on the Adviser’s assessment of the investment opportunities available. From time to time, the Fund may focus its investments in securities of companies in the same economic sector, including the Information Technology sector.
The Fund may invest up to 20% of its net assets in securities of foreign issuers, which may include global depositary receipts (“GDRs”) and, without limitation, sponsored and unsponsored American depositary receipts (“ADRs”) that are actively traded in the United States, including issuers located or operating in emerging markets and frontier markets. The Fund determines that a market is an emerging market if it is included in the MSCI Emerging Markets Index; the Fund determines that a market is a frontier market if it is included in the MSCI Frontier Markets Index. To the extent the Fund invests in securities denominated in a particular currency, it may invest in forward foreign currency exchange contracts to hedge currency risks associated with the investment.
In addition, the Fund may invest in real estate investment trusts (“REITs”). REITs are corporations or trusts that invest primarily in fee or leasehold ownership of real estate, mortgages or shares issued by other REITs, and that receive favorable tax treatment provided they meet certain conditions, including the requirement that they distribute at least 90% of their taxable income.
Using a bottom-up approach in selecting securities for the Fund, the Adviser seeks to select securities of companies that it believes are beneficiaries of fundamental change, have strong competitive positions, attractive unit economics capable of generating strong and consistent cash flows as the business scales, shareholder-aligned management teams and the opportunity to generate consistent, long-term growth of intrinsic value. The Adviser typically considers a company’s operational efficiency and management’s plans for capital allocation. Through the Adviser’s investment research process, it seeks to identify the companies that it believes will exceed the market’s expectations for: 1) key financial metrics and 2) sustainable competitive advantage. The Adviser purchases these securities for the Fund when it believes the market has not already reflected these expectations in the current stock price. Additionally, the Adviser typically invests for a 3-5 year time horizon, allowing it to take advantage of discrepancies between short-term price movements and long-term fundamental prospects.
Holdings are typically sold to make room in the portfolio for more attractive stocks, or where the holding reaches the Adviser’s estimate for its intrinsic value, or in response to an unexpected, negative fundamental change, including a change in management’s strategic direction.
Read More

JSMTX - Performance

Return Ranking - Trailing

Period JSMTX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -1.2% 91.9% 99.03%
1 Yr 1.3% -1.4% 88.1% 99.03%
3 Yr -11.3%* -14.8% 56.7% 98.43%
5 Yr 0.2%* -2.0% 98.8% 99.37%
10 Yr N/A* 2.4% 24.4% 8.68%

* Annualized

Return Ranking - Calendar

Period JSMTX Return Category Return Low Category Return High Rank in Category (%)
2023 13.8% -27.7% 68.0% 69.84%
2022 -39.4% -85.6% 52.8% 88.45%
2021 -29.4% -74.9% 238.3% 93.35%
2020 56.8% -44.1% 2474.5% 9.17%
2019 25.0% -50.2% 44.0% 54.84%

Total Return Ranking - Trailing

Period JSMTX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -1.2% 91.9% 99.03%
1 Yr 1.3% -1.4% 88.1% 99.03%
3 Yr -11.3%* -14.8% 56.7% 98.43%
5 Yr 0.2%* -2.0% 98.8% 99.37%
10 Yr N/A* 2.4% 24.4% 13.42%

* Annualized

Total Return Ranking - Calendar

Period JSMTX Return Category Return Low Category Return High Rank in Category (%)
2023 13.8% -26.1% 68.0% 87.35%
2022 -39.4% -67.0% 56.8% 93.93%
2021 -12.4% -23.5% 342.2% 97.98%
2020 65.0% 2.6% 2549.1% 6.88%
2019 30.4% 14.6% 44.8% 75.91%

NAV & Total Return History

JSMTX - Holdings

Concentration Analysis

JSMTX Category Low Category High JSMTX % Rank
Net Assets 207 M 2.73 M 100 B 80.04%
Number of Holdings 33 24 3569 95.16%
Net Assets in Top 10 127 M 635 K 11.9 B 64.73%
Weighting of Top 10 44.77% 4.5% 97.8% 15.70%

Top 10 Holdings

  1. New York Times Co/The 6.15%
  2. Clean Harbors Inc 5.22%
  3. Bio-Techne Corp 4.68%
  4. Charles River Laboratories International Inc 4.56%
  5. SiteOne Landscape Supply Inc 4.32%
  6. Wyndham Hotels Resorts Inc 4.17%
  7. LendingClub Corp 4.04%
  8. Stevanato Group SpA 3.98%
  9. Howmet Aerospace Inc 3.88%
  10. Wix.com Ltd 3.79%

Asset Allocation

Weighting Return Low Return High JSMTX % Rank
Stocks 		103.99% 58.72% 103.99% 0.39%
Cash 		0.92% 0.00% 28.07% 64.15%
Preferred Stocks 		0.00% 0.00% 6.15% 72.48%
Other 		0.00% -0.11% 14.15% 77.52%
Convertible Bonds 		0.00% 0.00% 0.40% 68.02%
Bonds 		0.00% 0.00% 2.73% 70.74%

Stock Sector Breakdown

Weighting Return Low Return High JSMTX % Rank
Technology 		25.66% 0.04% 62.17% 71.71%
Healthcare 		22.17% 0.00% 37.06% 16.67%
Communication Services 		14.14% 0.00% 18.33% 2.71%
Industrials 		13.34% 0.00% 38.23% 62.98%
Consumer Cyclical 		9.11% 0.00% 57.41% 85.47%
Financial Services 		8.31% 0.00% 43.01% 40.70%
Consumer Defense 		7.28% 0.00% 16.40% 3.10%
Utilities 		0.00% 0.00% 12.94% 76.36%
Real Estate 		0.00% 0.00% 19.28% 93.41%
Energy 		0.00% 0.00% 62.10% 88.76%
Basic Materials 		0.00% 0.00% 17.25% 92.44%

Stock Geographic Breakdown

Weighting Return Low Return High JSMTX % Rank
US 		103.99% 46.79% 103.99% 0.39%
Non US 		0.00% 0.00% 34.12% 75.97%

JSMTX - Expenses

Operational Fees

JSMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.96% 0.02% 17.54% 59.50%
Management Fee 0.75% 0.00% 1.50% 59.42%
12b-1 Fee 0.00% 0.00% 1.00% 19.43%
Administrative Fee N/A 0.00% 0.40% N/A

Sales Fees

JSMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

JSMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

JSMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 56.00% 0.00% 250.31% 65.59%

JSMTX - Distributions

Dividend Yield Analysis

JSMTX Category Low Category High JSMTX % Rank
Dividend Yield 0.00% 0.00% 33.43% 76.16%

Dividend Distribution Analysis

JSMTX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

JSMTX Category Low Category High JSMTX % Rank
Net Income Ratio -0.76% -2.24% 2.75% 65.55%

Capital Gain Distribution Analysis

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

Distributions History

View More +

JSMTX - Fund Manager Analysis

Managers

Kenneth Broad

Start Date

Tenure

Tenure Rank

Dec 01, 2003

18.51

18.5%

Kenneth F. Broad, CFA, MBA Portfolio Manager, Research Analyst Kenneth F. Broad became a member of Jackson Square, at its inception in May 2014, as a portfolio manager and research analyst. Prior to joining Jackson Square, he was a portfolio manager and equity analyst on the Delaware Investments Focus Growth Equity team from April 2005 to April 2014. The Focus Growth Equity team managed large-cap growth, smid-cap growth, all-cap growth and global growth portfolios. Prior to joining Delaware Investments, he was a principal and portfolio manager at Transamerica Investment Management, where he managed sub-advised funds and institutional separate accounts. Before joining Transamerica in 2000, he was a portfolio manager with The Franklin Templeton Group and was a consultant in the business valuation and merger and acquisition group at KPMG Peat Marwick. He received an MBA from the University of California at Los Angeles and his bachelor’s degree in economics from Colgate University.

Christopher Bonavico

Start Date

Tenure

Tenure Rank

Dec 01, 2003

18.51

18.5%

Christopher J. Bonavico, portfolio manager and analyst, joined JSP in April 2014. Previously, he was a vice president, senior portfolio manager and analyst at Delaware, and was a senior portfolio manager on its Focus Growth Equity team (2005 to 2014). Prior to that, he was a principal and portfolio manager at Transamerica Investment Management (1993 to 2005).

Ian Ferry

Start Date

Tenure

Tenure Rank

Jan 07, 2019

3.4

3.4%

Ian D. Ferry became a member of Jackson Square, at its inception in May 2014, as a portfolio manager and research analyst. Prior to joining Jackson Square, he was a portfolio manager and equity analyst on the Delaware Investments Focus Growth Equity team from November 2011 to April 2014. The Focus Growth Equity team managed large-cap growth, smid-cap growth, all-cap growth and global growth portfolios. Prior to joining Delaware Investments, he was an equity research analyst with Fidelity from August 2010 to October 2011. Before that, he completed an internship as an analyst with Carlson Capital in summer 2009. Previously, he worked with HarbourVest Partners from 2005 to 2008 in its private equity group, where he analyzed and completed growth equity investments and leveraged buyouts for the firm. Ferry began his career with Houlihan Lokey in 2004 as a financial analyst. He earned a bachelor’s degree in finance from Tulane University. Ferry also earned an MBA, with a concentration in management, from The Wharton School of the University of Pennsylvania in 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.3 9.42 11.76

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