The Snow Small Cap Value strategy outperformed the benchmark by 93 basis points during the quarter, returning 0.27% gross of fees (0.09% net of fees), while the Russell 2000 Value index declined -0.66%. The strategy has now outperformed the benchmark by 936 basis points over the prior one-year period, returning -3.60% gross of fees (-4.27% net of fees), while the Russell 2000 Value declined -12.96%.Learn More
Aims to provide long-term capital appreciation through a concentrated, high-conviction portfolio of small capitalization value equity securities.
Why This Strategy?
Co-Portfolio Managers Josh Schachter and Philip Greenblatt have an average of 16 years of value investing experience and are supported by a seven-person investment team.
The conviction-weighted portfolio consists of 40 to 60 of our best small-cap value investment ideas. With a market cap profile similar to the index, the portfolio is diversified by sector and provides high active share.
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.