Polen U.S. SMID Company Growth Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.5%
1 yr return
17.0%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$14.4 M
Holdings in Top 10
42.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.71%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
$100,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PBMIX - Profile
Distributions
- YTD Total Return -1.5%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -1.05%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NamePolen U.S. SMID Company Growth Fund
-
Fund Family NamePolen Capital
-
Inception DateApr 01, 2021
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRayna Lesser Hannaway
Fund Description
The Fund typically invests in a focused portfolio of common stocks of small and mid-cap companies and, under normal circumstances, the Fund invests at least 80% of its net assets in securities of U.S. issuers that are small or mid-cap companies. This 80% policy to invest in small and mid-cap companies may be changed by the Board of Trustees without shareholder approval upon 60 days’ notice to shareholders. The Adviser considers small and mid-cap companies for this purpose to be those companies that, at the time of purchase, are within the range of the market capitalizations of companies in the Russell 2500® Growth Index. This policy does not require the Fund to sell the security of a small or mid-cap company if such company’s market capitalization moves outside the range of the market capitalizations of companies in the Russell 2500® Growth Index; however, additional purchases of such security will be subject to the 20% limitation for securities outside of the Fund’s small and mid-cap company portfolio. As of April 30, 2023, the average weighted market capitalization of the issuers in the Russell 2500® Growth Index was $62.56 billion.
The Adviser uses an intensive fundamental research process to identify companies that it believes have certain attractive characteristics, which typically reflect of an underlying competitive advantage. Those characteristics associated with the Fund’s growth style of investing include: (i) consistent and sustainable high return on capital, (ii) strong earnings growth and free cash flow generation, (iii) strong balance sheets typically with low or no net debt to total capital and (iv) competent and shareholder-oriented management teams. The Fund invests in companies that the Adviser believes have a sustainable competitive advantage within an industry with high barriers to entry. The Adviser believes that such companies not only have the potential to contribute greater returns to the Fund, but also may hold less risk of loss of capital.
The Adviser believes that consistent earnings growth is the primary driver of long-term stock price appreciation. Accordingly, the Adviser focuses its efforts on identifying and investing in a concentrated portfolio of high-quality small capitalization growth companies that, in the Adviser’s opinion, are able to deliver sustainable above average earnings growth driven by a sustainable competitive advantage. The Adviser integrates material environmental, social, and governance (ESG) factors into research analysis as part of a comprehensive evaluation of a company’s long-term financial sustainability.
The Fund is non-diversified, which means that a significant portion of the Fund’s assets may be invested in the securities of a single or small number of companies and/or in a more limited number of sectors than a diversified mutual fund. Although the Fund may not “concentrate” (invest 25% or more of its net assets) in any industry, the Fund may focus its investments from time to time in one or more sectors of the economy or stock market.
The Fund will usually sell a security if, in the view of the Adviser, there is a potential threat to the company’s competitive advantage or a degradation in its prospects for strong, long-term earnings growth. The Adviser may also sell a security if it is believed by the Adviser to be overvalued or if a more attractive investment opportunity exists. Although the Adviser may purchase and then sell a security in a shorter period of time, the Adviser typically invests in securities with the expectation of holding those investments on a long term basis.
PBMIX - Performance
Return Ranking - Trailing
Period | PBMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.5% | -5.1% | 27.8% | 98.37% |
1 Yr | 17.0% | -6.1% | 60.7% | 95.63% |
3 Yr | N/A* | -24.0% | 86.1% | N/A |
5 Yr | N/A* | -2.9% | 100.8% | N/A |
10 Yr | N/A* | 0.4% | 37.0% | N/A |
* Annualized
Return Ranking - Calendar
Period | PBMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 27.5% | -27.7% | 68.0% | 9.29% |
2022 | -45.7% | -85.6% | 350.1% | 92.67% |
2021 | N/A | -77.0% | 238.3% | N/A |
2020 | N/A | -44.1% | 2474.5% | N/A |
2019 | N/A | -50.2% | 44.0% | N/A |
Total Return Ranking - Trailing
Period | PBMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.5% | -5.1% | 27.8% | 98.37% |
1 Yr | 17.0% | -6.1% | 60.7% | 95.63% |
3 Yr | N/A* | -24.0% | 86.1% | N/A |
5 Yr | N/A* | -2.9% | 100.8% | N/A |
10 Yr | N/A* | 0.4% | 37.0% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | PBMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 27.5% | -26.1% | 68.0% | 10.56% |
2022 | -45.7% | -67.0% | 440.7% | 96.89% |
2021 | N/A | -23.5% | 342.2% | N/A |
2020 | N/A | 2.6% | 2549.1% | N/A |
2019 | N/A | 14.6% | 44.8% | N/A |
NAV & Total Return History
PBMIX - Holdings
Concentration Analysis
PBMIX | Category Low | Category High | PBMIX % Rank | |
---|---|---|---|---|
Net Assets | 14.4 M | 1.94 M | 84.5 B | 97.64% |
Number of Holdings | 38 | 25 | 3644 | 88.57% |
Net Assets in Top 10 | 8.58 M | 319 K | 8.39 B | 94.74% |
Weighting of Top 10 | 42.79% | 0.4% | 99.9% | 16.33% |
Top 10 Holdings
- Globant SA 6.26%
- Dynatrace Inc 5.63%
- Houlihan Lokey Inc 5.06%
- Goosehead Insurance Inc 4.37%
- Trex Co Inc 4.20%
- Five Below Inc 4.06%
- Wingstop Inc 3.50%
- Hamilton Lane Inc 3.43%
- Floor Decor Holdings Inc 3.18%
- Morningstar Inc 3.10%
Asset Allocation
Weighting | Return Low | Return High | PBMIX % Rank | |
---|---|---|---|---|
Stocks | 98.96% | 0.92% | 101.49% | 38.66% |
Cash | 1.04% | 0.00% | 99.08% | 64.07% |
Preferred Stocks | 0.00% | 0.00% | 5.46% | 39.02% |
Other | 0.00% | -0.18% | 16.96% | 52.09% |
Convertible Bonds | 0.00% | 0.00% | 0.40% | 29.58% |
Bonds | 0.00% | -3.27% | 1.87% | 33.39% |
Stock Sector Breakdown
Weighting | Return Low | Return High | PBMIX % Rank | |
---|---|---|---|---|
Technology | 43.81% | 0.04% | 62.17% | 4.17% |
Consumer Cyclical | 35.76% | 0.00% | 57.41% | 0.73% |
Financial Services | 10.80% | 0.00% | 43.01% | 25.23% |
Healthcare | 6.30% | 0.00% | 37.06% | 93.47% |
Industrials | 3.33% | 0.00% | 38.23% | 92.92% |
Utilities | 0.00% | 0.00% | 12.94% | 47.37% |
Real Estate | 0.00% | 0.00% | 19.28% | 87.66% |
Energy | 0.00% | 0.00% | 62.10% | 74.23% |
Communication Services | 0.00% | 0.00% | 18.33% | 91.83% |
Consumer Defense | 0.00% | 0.00% | 16.40% | 88.57% |
Basic Materials | 0.00% | 0.00% | 17.25% | 82.21% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | PBMIX % Rank | |
---|---|---|---|---|
US | 98.96% | 0.64% | 101.49% | 33.39% |
Non US | 0.00% | 0.00% | 34.81% | 46.82% |
PBMIX - Expenses
Operational Fees
PBMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.71% | 0.02% | 17.54% | 19.16% |
Management Fee | 1.00% | 0.00% | 1.50% | 93.27% |
12b-1 Fee | N/A | 0.00% | 1.00% | 32.67% |
Administrative Fee | N/A | 0.00% | 0.40% | N/A |
Sales Fees
PBMIX 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
PBMIX 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.
PBMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 250.31% | N/A |
PBMIX - Distributions
Dividend Yield Analysis
PBMIX | Category Low | Category High | PBMIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 32.46% | 43.19% |
Dividend Distribution Analysis
PBMIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | SemiAnnual | Annual |
Net Income Ratio Analysis
PBMIX | Category Low | Category High | PBMIX % Rank | |
---|---|---|---|---|
Net Income Ratio | -1.05% | -2.24% | 2.75% | 82.14% |
Capital Gain Distribution Analysis
PBMIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 09, 2021 | $0.109 | OrdinaryDividend |
Nov 07, 2006 | $0.007 | OrdinaryDividend |
Sep 21, 2006 | $0.030 | OrdinaryDividend |
Jun 22, 2006 | $0.020 | OrdinaryDividend |
Mar 23, 2006 | $0.010 | OrdinaryDividend |
Dec 22, 2005 | $0.020 | OrdinaryDividend |
Sep 22, 2005 | $0.010 | OrdinaryDividend |
Jun 23, 2005 | $0.020 | OrdinaryDividend |
Mar 24, 2005 | $0.010 | OrdinaryDividend |
Dec 09, 2004 | $0.055 | OrdinaryDividend |
Sep 23, 2004 | $0.020 | OrdinaryDividend |
Jun 24, 2004 | $0.010 | OrdinaryDividend |
Dec 22, 2003 | $0.025 | OrdinaryDividend |
Jun 23, 2003 | $0.010 | OrdinaryDividend |
Mar 24, 2003 | $0.010 | OrdinaryDividend |
Dec 19, 2002 | $0.010 | OrdinaryDividend |
Sep 16, 2002 | $0.010 | OrdinaryDividend |
Jun 24, 2002 | $0.010 | OrdinaryDividend |
Mar 25, 2002 | $0.010 | OrdinaryDividend |
Dec 17, 2001 | $0.004 | OrdinaryDividend |
Sep 28, 2001 | $0.010 | DailyAccrualFund |
Aug 31, 2001 | $0.013 | DailyAccrualFund |
Jul 31, 2001 | $0.014 | DailyAccrualFund |
Jun 29, 2001 | $0.013 | DailyAccrualFund |
May 31, 2001 | $0.013 | DailyAccrualFund |
Apr 30, 2001 | $0.013 | DailyAccrualFund |
Mar 30, 2001 | $0.015 | DailyAccrualFund |
Feb 28, 2001 | $0.015 | OrdinaryDividend |
Jan 31, 2001 | $0.017 | DailyAccrualFund |
Dec 29, 2000 | $0.022 | DailyAccrualFund |
Nov 30, 2000 | $0.017 | DailyAccrualFund |
Oct 31, 2000 | $0.017 | DailyAccrualFund |
Sep 29, 2000 | $0.017 | DailyAccrualFund |
Aug 31, 2000 | $0.017 | DailyAccrualFund |
Jul 31, 2000 | $0.017 | DailyAccrualFund |
Jun 30, 2000 | $0.017 | OrdinaryDividend |
May 31, 2000 | $0.017 | OrdinaryDividend |
Apr 28, 2000 | $0.017 | OrdinaryDividend |
Mar 31, 2000 | $0.017 | OrdinaryDividend |
Feb 28, 2000 | $0.017 | OrdinaryDividend |
Jan 31, 2000 | $0.020 | OrdinaryDividend |
Dec 31, 1999 | $0.024 | OrdinaryDividend |
Nov 30, 1999 | $0.018 | OrdinaryDividend |
Oct 29, 1999 | $0.018 | OrdinaryDividend |
Sep 30, 1999 | $0.018 | OrdinaryDividend |
Aug 31, 1999 | $0.018 | OrdinaryDividend |
Aug 02, 1999 | $0.018 | OrdinaryDividend |
Jun 30, 1999 | $0.018 | OrdinaryDividend |
May 28, 1999 | $0.018 | OrdinaryDividend |
Apr 30, 1999 | $0.018 | OrdinaryDividend |
Mar 31, 1999 | $0.018 | OrdinaryDividend |
Feb 26, 1999 | $0.018 | OrdinaryDividend |
Jan 29, 1999 | $0.018 | OrdinaryDividend |
PBMIX - Fund Manager Analysis
Managers
Rayna Lesser Hannaway
Start Date
Tenure
Tenure Rank
Apr 01, 2021
1.16
1.2%
Ms. Lesser Hannaway joined Polen Capital in 2017. She is co-portfolio manager of the firm’s U.S. Small Company Growth strategy and lead portfolio manager of the U.S. SMID Growth strategy. Prior to joining Polen Capital, she spent nine years in portfolio management and two years as a research analyst at Fidelity Investments in Boston evaluating small and mid-cap companies. She also spent nine years working in small cap research for Jennison Associates and Lord Abbett & Company. Ms. Lesser Hannaway received a B.A. in Economics from Barnard College, a division of Columbia University, where she graduated summa cum laude in 1996. Ms. Lesser Hannaway is a CFA® charterholder since 2000. She is a current member of the Board of Trustees at Shore Country Day School and former board member of North Shore Nursery School, both in Beverly, Massachusetts, and is actively involved with Big Brothers Big Sisters of Massachusetts Bay.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 36.3 | 9.23 | 2.25 |