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Trending ETFs

Name

As of 04/18/2024

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

$31.57

$242 M

0.00%

0.76%

Vitals

YTD Return

8.6%

1 yr return

32.5%

3 Yr Avg Return

4.9%

5 Yr Avg Return

9.1%

Net Assets

$242 M

Holdings in Top 10

61.4%

52 WEEK LOW AND HIGH

$31.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.76%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 32.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/18/2024

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

$31.57

$242 M

0.00%

0.76%

MTCGX - Profile

Distributions

  • YTD Total Return 8.6%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 9.1%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio -0.37%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    M Large Cap Growth Fund
  • Fund Family Name
    M Funds
  • Inception Date
    Apr 22, 2002
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Steven Tish

Fund Description

The Fund will normally invest at least 80% of its total assets in domestic equity securities of U.S. large capitalization securities. Domestic equity securities, as determined by DSM Capital Partners LLC ("DSM"), the Fund's sub-adviser, in its discretion, include, but are not limited to common stocks, preferred stocks, securities convertible into common stocks, rights and warrants. Shares of foreign domiciled issuers that primarily trade on a U.S. exchange are generally considered by DSM to be domestic equity securities. Also, as determined by DSM,

issuers that issue domestic equity securities may be domiciled and/or headquartered anywhere in the world. The Fund may generally invest up to 20% of its assets in equity securities of foreign issuers, including American Depositary Receipts and similar securities. DSM defines "large cap" as capitalizations of $10 billion or more. The Fund will generally contain 25 to 35 equity securities.

This strategy to invest at least 80% of its total assets in domestic equity securities of U.S. large capitalization securities is not fundamental (it may be changed without shareholder approval), but should the Fund decide to change this strategy, it will provide shareholders with at least 60 days' notice.

DSM uses a "bottom-up," idea-driven approach and focuses on a long-term (e.g., three-year minimum) investment horizon.

DSM seeks to invest in growing businesses with solid fundamentals, attractive profitability and successful management. Candidate companies will typically have projected revenue and earnings growth in excess of 10% and will often have higher returns on equity and assets than average S&P 500 companies. Generally, these businesses will be generating free cash flow and will have financial returns that are stable or rising, driven by improving business fundamentals, all as determined by DSM.

In its stock valuation work, DSM focuses primarily on P/E ratios. P/E is the ratio of a company's share price to its per-share earnings. DSM will generally only buy a stock that it believes has a forward four-quarter P/E ratio that will rise over the next three years. To accomplish this, a target P/E ratio that DSM believes is reasonable and rational and is reflective of a fair valued stock three years from now is selected. DSM will typically buy when the company's stock clears two hurdles: 1. it must have attractive fundamental business characteristics that translate into a reasonably predictable and growing stream of earnings and 2. it must have a P/E on forward four quarters earnings that is normally 8% to 10% below the target P/E three years from the calculation point. In order to determine a target P/E, DSM takes into consideration a number of qualitative and quantitative factors. Among the qualitative factors are barriers to entry, number of competitors, economic cyclicality, customer loyalty, price competition, global reach, government involvement and management quality. Among the quantitative factors are historic revenue and EPS growth, projected revenue and EPS growth, margins, return on assets, return on equity, capital expenditures relative to net income and the historic range of P/E over the last five years. Once a target P/E has been agreed upon, it may occasionally be adjusted.

Additionally, Environmental, Social, and Governance ("ESG") is an important part of DSM's investment process and is fully integrated into its stock selection, monitoring, and selling processes. DSM assigns a proprietary ESG score to every company that it researches. Scores range from 0 to 10 (with 10 being the best), and DSM utilizes MSCI's ESG Controversies as a starting point to make adjustments to ESG scores across five key categories: environment, customers, human rights / community, labor rights / supply chain, and governance. These categories are then broken down further into over 20 subcategories. Each Analyst/Portfolio Manager at DSM completes in-depth research on ESG issues impacting a company and assigns scores using a consistent in-house methodology. DSM stores all ESG communications and developments in centralized folders so that companies' ESG histories and DSM's ESG activities are available to all Analyst/Portfolio Managers. In addition to weekly updates from MSCI, DSM's investment team utilizes in-depth ongoing monitoring to identify ESG issues not fully captured by MSCI.

ESG scores are included in DSM's internal summaries and have an impact on DSM's investment decisions. ESG considerations and the implementation of ESG scores and in-house research have both kept DSM from investing in certain companies and have led to DSM selling portfolio holdings.

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MTCGX - Performance

Return Ranking - Trailing

Period MTCGX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.6% -16.3% 19.3% 31.14%
1 Yr 32.5% -24.2% 56.3% 46.35%
3 Yr 4.9%* -31.3% 22.2% 51.41%
5 Yr 9.1%* -16.7% 28.7% 91.58%
10 Yr 5.8%* -5.9% 18.7% 98.89%

* Annualized

Return Ranking - Calendar

Period MTCGX Return Category Return Low Category Return High Rank in Category (%)
2023 25.3% -74.1% 72.4% 74.10%
2022 -31.5% -85.9% 4.7% 35.17%
2021 1.2% -52.4% 60.5% 71.24%
2020 14.1% -34.3% 145.0% 87.44%
2019 28.4% -21.8% 49.4% 27.82%

Total Return Ranking - Trailing

Period MTCGX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.6% -16.3% 19.3% 31.14%
1 Yr 32.5% -24.2% 56.3% 46.35%
3 Yr 4.9%* -31.3% 22.2% 51.41%
5 Yr 9.1%* -16.7% 28.7% 91.58%
10 Yr 5.8%* -5.9% 18.7% 98.89%

* Annualized

Total Return Ranking - Calendar

Period MTCGX Return Category Return Low Category Return High Rank in Category (%)
2023 32.0% -4.6% 72.4% 69.79%
2022 -25.4% -61.7% 5.6% 23.80%
2021 18.6% -39.8% 118.1% 68.85%
2020 14.1% 2.8% 149.2% 98.17%
2019 28.4% -5.2% 49.4% 86.14%

NAV & Total Return History


MTCGX - Holdings

Concentration Analysis

MTCGX Category Low Category High MTCGX % Rank
Net Assets 242 M 242 K 269 B 74.16%
Number of Holdings 25 1 3217 95.78%
Net Assets in Top 10 149 M 104 K 111 B 69.93%
Weighting of Top 10 61.36% 0.7% 205.0% 9.57%

Top 10 Holdings

  1. Microsoft Corp. 12.74%
  2. NVIDIA Corp. 7.15%
  3. Amazon.com, Inc. 6.04%
  4. Adobe, Inc. 5.93%
  5. Intuit, Inc. 5.86%
  6. Arista Networks, Inc. 5.36%
  7. Alphabet, Inc. 5.07%
  8. Accenture PLC 4.74%
  9. EPAM Systems, Inc. 4.29%
  10. Visa, Inc. 4.19%

Asset Allocation

Weighting Return Low Return High MTCGX % Rank
Stocks
99.35% 0.00% 130.05% 30.07%
Cash
0.65% -1.50% 173.52% 66.72%
Preferred Stocks
0.00% 0.00% 7.84% 80.74%
Other
0.00% -43.49% 50.04% 78.63%
Convertible Bonds
0.00% 0.00% 1.94% 77.50%
Bonds
0.00% 0.00% 104.15% 78.21%

Stock Sector Breakdown

Weighting Return Low Return High MTCGX % Rank
Technology
26.33% 0.00% 65.70% 79.70%
Financial Services
20.33% 0.00% 43.06% 4.82%
Communication Services
19.78% 0.00% 66.40% 5.33%
Healthcare
11.45% 0.00% 39.76% 61.93%
Industrials
8.40% 0.00% 30.65% 21.32%
Consumer Cyclical
6.95% 0.00% 62.57% 95.18%
Consumer Defense
3.80% 0.00% 25.50% 48.65%
Basic Materials
2.96% 0.00% 18.91% 17.51%
Utilities
0.00% 0.00% 16.07% 83.16%
Real Estate
0.00% 0.00% 16.05% 91.62%
Energy
0.00% 0.00% 41.09% 89.00%

Stock Geographic Breakdown

Weighting Return Low Return High MTCGX % Rank
US
99.35% 0.00% 130.05% 22.21%
Non US
0.00% 0.00% 78.10% 84.29%

MTCGX - Expenses

Operational Fees

MTCGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.76% 0.01% 19.54% 68.76%
Management Fee 0.59% 0.00% 1.50% 42.32%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 1.02% N/A

Sales Fees

MTCGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 8.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MTCGX 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.

MTCGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 32.00% 0.00% 316.74% 51.58%

MTCGX - Distributions

Dividend Yield Analysis

MTCGX Category Low Category High MTCGX % Rank
Dividend Yield 0.00% 0.00% 28.16% 86.46%

Dividend Distribution Analysis

MTCGX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual SemiAnnual Annual

Net Income Ratio Analysis

MTCGX Category Low Category High MTCGX % Rank
Net Income Ratio -0.37% -6.13% 3.48% 54.84%

Capital Gain Distribution Analysis

MTCGX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

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MTCGX - Fund Manager Analysis

Managers

Steven Tish


Start Date

Tenure

Tenure Rank

Oct 12, 2009

12.64

12.6%

STEVEN TISH began his career at Lazard Freres Asset Management in 1991 as an analyst/portfolio manager. He covered industries including technology, healthcare, business services, and conglomerates. Steve then moved to PAW Partners in Greenwich as a partner and analyst/portfolio manager where he was responsible for the P&L of the healthcare segment of a multi-sector hedge fund. He then joined Millennium Partners in New York as a partner and analyst/portfolio manager where he worked with a team which was dedicated to their global healthcare hedge fund. The members of the team later left Millennium to start Panacea Asset Management, an independent healthcare sector hedge fund in New York. He joined DSM Capital Partners in October 2007. Steve earned a B.S. in Finance from the University of Maryland and an MBA from Cornell University. He was awarded his Chartered Financial Analyst certification in 1994.

Justin Burk


Start Date

Tenure

Tenure Rank

Oct 12, 2009

12.64

12.6%

Justin Burk joined DSM in 2002 as a portfolio manager/research analyst. Previously, he joined Moody’s Investor Services in 1998, moving to Carlyle High Yield Partners as an analyst in 1999. In 2001 he joined Aslan Capital Management, a high yield event-driven hedge fund, where he specialized in corporate structure analysis and asset valuation. Justin received an A.B. in Biochemical Sciences with Honors from Harvard University, and holds a Chartered Financial Analyst designation.

David McVey


Start Date

Tenure

Tenure Rank

Oct 12, 2009

12.64

12.6%

DAVID MCVEY started in 1992 at Mutual Funds Service Company in Boston. In 1995 he became equity research associate for biotechnology and healthcare at Hambrecht & Quist. He then moved to Furman Selz, becoming a vice president and serving as media and entertainment analyst. Most recently, he has been media and entertainment associate analyst at J.P. Morgan H&Q. David received a Bachelor of Science degree in Economics and Finance from New Hampshire College, and holds a Chartered Financial Analyst designation. David joined DSM in 2001.

Eric Woodworth


Start Date

Tenure

Tenure Rank

Oct 12, 2009

12.64

12.6%

ERIC WOODWORTH joined Price Waterhouse Coopers in 1994 as a technology consultant. He became a team leader and managed projects for PWC in Toronto and Chicago. He also served as an internal instructor for PWC in Tampa, Florida. Eric left PWC in 1999 to attend business school, spending his summer in equity research at Merrill Lynch. Eric holds a Bachelor of Arts in Economics from Williams College, an MBA in Finance from New York University, and holds a Chartered Financial Analyst designation. Eric joined DSM in 2001.

Pinaki Kar


Start Date

Tenure

Tenure Rank

Oct 12, 2009

12.64

12.6%

PINAKI KAR started his career in life-sciences strategy consulting at ZA Associates in 1994 where he advised pharmaceutical and biotechnology clients. He subsequently worked at Pfizer and Bristol-Myers Squibb in various roles within brand planning and management. His most recent role was at Novartis AG where he was responsible for screening and assessing strategic investment opportunities. Pinaki holds a Bachelors in Mechanical Engineering from the Indian Institute of Technology and a Masters in Logistics from the Massachusetts Institute of Technology, where he was on the Deans List. He also holds a Masters in Engineering from Notre Dame and an MBA in Finance from New York University, where he earned the Stern Scholar designation. Pinaki joined DSM in 2008.

Daniel Strickberger


Start Date

Tenure

Tenure Rank

Oct 12, 2009

12.64

12.6%

DANIEL STRICKBERGER began his career in 1979 as a credit analyst, first at Morgan Guaranty, and later at Bank of Tokyo. He joined Oppenheimer & Co. as a securities analyst in 1982. He joined Lazard Freres & Co. later that year, after Oppenheimer & Co. was sold. Dan was appointed Director of Research of Lazard Freres Asset Management in 1987 and was made a general partner of Lazard Freres & Co. in 1988. He was one of two senior portfolio managers supervising Lazard’s domestic equity investments. Dan also developed and was the senior portfolio manager of Lazard’s international equities portfolio.

Hannah Chiang


Start Date

Tenure

Tenure Rank

Apr 30, 2015

7.09

7.1%

HANNAH CHIANG began her career at American Century Investment Management in 1997. From 2001-2005 she was a research analyst for international equities. She was then named an associate analyst responsible for large cap ideas in Asia (ex-Japan). For the last six years, Hannah was a senior investment analyst focusing on large cap global consumer companies. She holds a Bachelor of Science in International Business and a Master of Science in Finance, both from the University of Colorado. Hannah joined DSM in 2015.

Takamune Fujikawa


Start Date

Tenure

Tenure Rank

May 31, 2018

4.0

4.0%

TAKAMUNE FUJIKAWA began his career in 1994 at Nomura Securities International in New York as a quantitative analyst. In 2008, he joined The Boston Company Asset Management as a senior international equity analyst. Taka continued his career in Hong Kong at Hutchinhill Capital as a senior equity analyst. His most recent role was a senior analyst at the equity research department in SMBC Nikko Securities in Tokyo. He received a Bachelor of Science degree in Finance and International Business from New York University, Stern School of Business. He holds a Chartered Financial Analyst designation. Taka joined DSM in May 2018.

Shirley Hu Anderson


Start Date

Tenure

Tenure Rank

Aug 31, 2021

0.75

0.8%

SHIRLEY HU ANDERSON began her career as an analyst in the Technology Investment Banking Group at Credit Suisse. In 2008, she joined Qatalyst Partners, a technology-focused M&A investment bank, as a founding member of the team. In 2014, she moved to Bernstein Research as a senior research associate, where her team was ranked #1 by Institutional Investor for their coverage of semiconductors. Shirley was most recently a senior analyst in technology, media and telecom with Alliance Bernstein’s Arya Partners. She graduated from Princeton University with a BA in public and international affairs and received her MBA from The Wharton School, University of Pennsylvania. Shirley holds a Chartered Financial Analyst designation. She joined DSM in 2021.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 54.45 8.21 3.08