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Jackson Square SMID-Cap Growth Fund
mutual fund
JSMTX
Payout Change
Suspended
Price as of:
$18.9
+0.11
+0.59%
primary theme
U.S. Mid-Cap Growth Equity
share class
JSMTX (Mutual Fund)
Jackson Square SMID-Cap Growth Fund
Payout Change
Suspended
Price as of:
$18.9
+0.11
+0.59%
primary theme
U.S. Mid-Cap Growth Equity
share class
JSMTX (Mutual Fund)
Jackson Square SMID-Cap Growth Fund
Payout Change
Suspended
Price as of:
$18.9
+0.11
+0.59%
primary theme
U.S. Mid-Cap Growth Equity
share class
Name
As of 12/24/2024Price
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
Vitals
YTD Return
1.9%
1 yr return
2.3%
3 Yr Avg Return
-11.3%
5 Yr Avg Return
0.3%
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 12/24/2024Price
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
JSMTX - Profile
Distributions
- YTD Total Return 1.9%
- 3 Yr Annualized Total Return -11.3%
- 5 Yr Annualized Total Return 0.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.76%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameJackson Square SMID-Cap Growth Fund
-
Fund Family NameJackson Square
-
Inception DateSep 16, 2016
-
Shares Outstanding25951609
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKenneth 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.
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 | 2.3% | -1.4% | 88.1% | 99.03% |
| 3 Yr | -11.3%* | -14.8% | 56.7% | 98.43% |
| 5 Yr | 0.3%* | -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 | 2.3% | -1.4% | 88.1% | 99.03% |
| 3 Yr | -11.3%* | -14.8% | 56.7% | 98.43% |
| 5 Yr | 0.3%* | -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
- New York Times Co/The 6.15%
- Clean Harbors Inc 5.22%
- Bio-Techne Corp 4.68%
- Charles River Laboratories International Inc 4.56%
- SiteOne Landscape Supply Inc 4.32%
- Wyndham Hotels Resorts Inc 4.17%
- LendingClub Corp 4.04%
- Stevanato Group SpA 3.98%
- Howmet Aerospace Inc 3.88%
- 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
| Date | Amount | Type |
|---|---|---|
| Dec 16, 2021 | $6.091 | CapitalGainLongTerm |
| Dec 17, 2020 | $1.939 | OrdinaryDividend |
| Dec 18, 2019 | $0.019 | OrdinaryDividend |
| Dec 18, 2019 | $0.027 | CapitalGainShortTerm |
| Dec 18, 2019 | $0.992 | CapitalGainLongTerm |
| Dec 27, 2018 | $0.048 | OrdinaryDividend |
| Dec 27, 2018 | $0.504 | CapitalGainShortTerm |
| Dec 27, 2018 | $2.096 | CapitalGainLongTerm |
| Dec 27, 2017 | $0.121 | CapitalGainLongTerm |
| Dec 28, 2016 | $0.022 | OrdinaryDividend |
| Dec 28, 2016 | $0.069 | CapitalGainLongTerm |
| Sep 13, 2016 | $0.001 | OrdinaryDividend |
| Sep 13, 2016 | $0.093 | CapitalGainShortTerm |
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 |
