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.
Why This Strategy?
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 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%.
The Large Cap Value strategy trailed the benchmark by 14 basis points during the quarter, returning 0.87% gross of fees (0.76% net of fees), while the Russell 1000 Value index gained 1.01%. The strategy has now outperformed the benchmark by 374 basis points over the prior one-year period, returning -2.17% gross of fees (-2.60% net of fees), while the Russell 1000 Value declined -5.91%.