Active Equities

Large Cap Value Trust (Class I)

A multidimensional approach to value investing

Large Cap Value Trust received an  Overall Morningstar Rating  of  

Highlights

Objective

The fund seeks capital growth and current income.

Strategy and process

  • A relative-value focus The fund focuses on large companies whose stocks are priced below their long-term potential, and where there may be a catalyst for positive change.
  • Dividend growth The fund places a distinct emphasis on companies that can grow their dividends and are able and willing to return cash to shareholders.
  • A disciplined process The portfolio managers invest using fundamental research and quantitative tools supported by strong risk controls in portfolio construction.

Fund price and assets

Yesterday’s close 52-week high 52-week low Net assets and outstanding shares
Net asset value $16.07
0.37% | $0.06
$16.50
04/20/22
$14.12
06/17/22
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Net assets and outstanding shares

(Optional)

Fund facts as of 07/31/22

Total net assets
$3,177.66M
Turnover (fiscal year end)
20%
Dividend frequency
--
Number of holdings
78
Fiscal year-end
December
CUSIP / Fund code
746750306 / 5781
Inception date
07/03/18
Class I  
Category
Value
Open to new investors
Ticker
--

Management team

Portfolio Manager
Portfolio Manager



Performance

  • Total return (%) as of 06/30/22

  • Annual performance as of 06/30/22

Annualized Total return (%) as of 06/30/22

Annualized performance 1 yr. 3 yrs. 5 yrs. Life (inception: 07/03/18 )
Before sales charge -3.52% 10.84% -- 9.82%
After sales charge -3.52% 10.84% -- 9.82%
Russell 1000 Value Index -6.82%6.87%7.17%--

Data is historical. Past performance is not a guarantee of future results. More recent returns may be more or less than those shown. Investment return will fluctuate. Performance assumes reinvestment of distributions and does not account for taxes. Performance data reflects the impact of a 0.38% and 0.33% management fee for class I shares and class IA shares, respectively. In certain cases your plan's management fee may be lower and your return higher. For the most recent month-end performance, please call your plan's toll-free number. 

Performance snapshot

  Before sales charge After sales charge
1 mt. as of 07/31/22 6.06% 6.06%
YTD as of 08/16/22 -0.56% -0.56%

Morningstar Ratings as of 07/31/22

Time period Funds in category Morningstar Rating
Overall 1154
3 yrs. 1154
Morningstar category: Large Value

Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.


Holdings

Microsoft Corp 3.26%
Northrop Grumman Corp 2.87%
Bank Of America Corp 2.82%
Walmart 2.61%
Exxon Mobil Corp 2.57%
Goldman Sachs Group The 2.26%
Mckesson Corp 2.18%
Citigroup 2.09%
Meta Platforms 2.03%
Johnson Johnson 1.94%
Top 10 holdings, percent of portfolio 24.62%



Portfolio composition as of 07/31/22

Common stock 95.93%
Cash and net other assets 2.63%
Convertible preferred stock 1.44%

Equity statistics as of 07/31/22

Median market cap $66.89B
Weighted average market cap $202.86B
Price to book 2.40
Price to earnings 12.74

Fund characteristics will vary over time.

Due to rounding, percentages may not equal 100%.

Consider these risks before investing: Value stocks may fail to rebound, and the market may not favor value-style investing. Income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the fund invests. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings.

Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.

Top industry sectors as of 07/31/22

Health care 19.67%
Financials 16.40%
Industrials 11.68%
Information technology 8.69%
Consumer staples 7.46%
Energy 7.46%
Materials 6.18%
Consumer discretionary 5.88%
Communication services 5.55%
 
Other
11.03%
Utilities 5.34%
Real estate 3.06%
Cash and net other assets 2.63%

The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.

Sectors will vary over time.


Expenses

Expense ratio

Class I Class IA
Total expense ratio 0.38% 0.33%
What you pay 0.38% 0.33%

The Russell 1000® Value Index is an unmanaged index of those companies in the large-cap Russell 1000® Index chosen for their value orientation. You cannot invest directly in an index.

Consider these risks before investing: Value stocks may fail to rebound, and the market may not favor value-style investing. Income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the fund invests. The value of investments in the fund’s portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund’s portfolio holdings.

Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund’s other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.