U.S. Equity
Mid Cap Core
Investment Opportunity Set |
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| 1,500 companies | 800 Russell Mid Cap companies + 700 companies with a market cap in the same range | |
| 11 economic sectors | Russell economic sector classifications | |
Active Risks |
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| Relatively concentrated | 45 to 65 holdings | |
| Construction/performance benchmark | Russell Mid Cap Index | |
| Tracking error: expected range | 5% to 7% | |
| Sector weights | 50% to 150% of benchmark sector weight, 0% to +2% of benchmark sector weight for smaller sectors | |
Factors and characteristics |
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| Sector | No permanently excluded sectors | |
| Size | $1 billion to $20 billion (at time of purchase) | |
Management style |
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| Decision-making | Single decision-maker for portfolio | |
| Research | Team-based, collaborative | |
| Investment style (i.e. growth, value) | Based upon differential between intrinsic value and market price; no apriori bias to "growth" or "value" styles | |
| Turnover | Estimated 20% to 40% |
Masthead photo source: 2005 NASA