Our Large Cap Value strategy provides exposure to the large capitalization segment of the value equity market through a fundamental, contrarian, bottom-up investment process.
Aims to provide long-term capital appreciation through a portfolio of large capitalization value equity securities.
Co-Portfolio Managers Jessica Bemer and Anne Wickland average of over 23 years of value investing experience and are supported by a seven-person investment team.
The conviction-weighted portfolio consists of 30 to 50 of our best large-cap value investment ideas. The portfolio is benchmark aware and active sector weights are limited to +/- 10%.
Investment philosophy that is consistent with modern behavioral finance research and aims to take advantage of investor overreactions to negative surprises.
Fundamental research process focuses on identifying out-of-favor stocks that are in sound financial condition and should experience an upward rerating in their P/E ratio with a positive shift in investor sentiment.
The Snow Large Cap Value strategy trailed the benchmark during the quarter, returning 0.92% gross of fees (0.81% net of fees), while the Russell 1000 Value index gained 1.01%. The portfolio exhibited positive stock selection during the quarter, while sector positioning was the reason for the relative underperformance.
Learn MoreThe Snow Large Cap Value strategy outperformed the benchmark by 29 basis points during the quarter, returning 12.71% gross of fees (12.58% net of fees), while the Russell 1000 Value index gained 12.42%. For the year, the strategy returned -4.89% gross of fees (-5.31% net of fees), again outperforming the Russell 1000 Value, which declined -7.54%.
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