FROST GROWTH EQUITY FUND
Name
As of 04/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
5.6%
1 yr return
33.8%
3 Yr Avg Return
6.9%
5 Yr Avg Return
14.3%
Net Assets
$229 M
Holdings in Top 10
54.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.88%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 17.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FACEX - Profile
Distributions
- YTD Total Return 5.6%
- 3 Yr Annualized Total Return 6.9%
- 5 Yr Annualized Total Return 14.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.31%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameFROST GROWTH EQUITY FUND
-
Fund Family NameFrost Funds
-
Inception DateApr 25, 2008
-
Shares Outstanding3490608
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Lutz
Fund Description
Under normal market conditions, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities. This investment policy may be changed by the Fund upon 60 days’ prior written notice to shareholders. The Fund intends to invest in companies of any market capitalization that Frost Investment Advisors, LLC (the “Adviser” or “Frost”) believes will have growing revenues and earnings. The Fund will generally invest in equity securities of domestic companies, but may also invest in equity securities of foreign companies and American Depositary Receipts (“ADRs”). The Adviser performs in-depth analyses of company fundamentals and factors affecting industries to identify companies displaying strong earnings and revenue growth relative to the overall market or relative to their peer group, improving returns on equity and a sustainable competitive advantage.
The Adviser focuses on a number of factors to assess the growth potential of individual companies, such as:
● | Historical and expected organic revenue growth rates; |
● | Historical and expected earnings growth rates; |
● | Signs of accelerating growth potential; |
● | Positive earnings revisions; |
● | Earnings momentum; |
● | Improving margin and return on equity trends; and |
● | Positive price momentum. |
When an attractive growth opportunity is identified, the Adviser seeks to independently develop an intrinsic valuation for the stock. The Adviser believes that the value of a company is determined by discounting the company’s future cash flows or earnings. Valuation factors considered in identifying securities for the Fund’s portfolio include:
● | Price/earnings ratio; |
● | Price/sales ratio; |
● | Price/earnings to growth ratio; |
● | Enterprise value/earnings before interest, taxes, depreciation and amortization; |
● | Enterprise value/sales; |
● | Price/cash flow; |
● | Balance sheet strength; and |
● | Returns on equity and returns on invested capital. |
The Adviser also seeks to understand a firm’s competitive position and the industry dynamics in which the firm operates. The Adviser assesses industry growth potential, market share opportunities, cyclicality and pricing power. Further analysis focuses on corporate governance and management’s ability to create value for shareholders.
The Adviser augments its independent fundamental research process with quantitative screens and models. The models are derived from proprietary research or securities industry research studies and score companies based upon a number of fundamental factors. The Adviser uses quantitative analysis to provide an additional layer of objectivity, discipline and consistency to its equity research process. This quantitative analysis complements the fundamental analyses that the Adviser conducts on companies during its stock selection process.
The Fund seeks to buy and hold securities for the long term and seeks to keep portfolio turnover to a minimum. However, the Adviser may sell a security if its price exceeds the Adviser’s assessment of its fair value or in response to a negative company event, a change in management, poor relative price performance, achieved fair valuation, or a deterioration in a company’s business prospects, performance or financial strength.
The Fund is classified as “non-diversified,” which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
FACEX - Performance
Return Ranking - Trailing
Period | FACEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.6% | -16.3% | 19.3% | 46.54% |
1 Yr | 33.8% | -24.2% | 56.3% | 21.55% |
3 Yr | 6.9%* | -31.3% | 22.2% | 20.30% |
5 Yr | 14.3%* | -16.7% | 28.7% | 28.67% |
10 Yr | 14.1%* | -5.9% | 18.7% | 22.37% |
* Annualized
Return Ranking - Calendar
Period | FACEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 23.5% | -74.1% | 72.4% | 79.35% |
2022 | -39.4% | -85.9% | 4.7% | 75.94% |
2021 | 10.7% | -52.4% | 60.5% | 40.27% |
2020 | 27.8% | -34.3% | 145.0% | 43.81% |
2019 | 20.1% | -21.8% | 49.4% | 76.23% |
Total Return Ranking - Trailing
Period | FACEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.6% | -16.3% | 19.3% | 46.54% |
1 Yr | 33.8% | -24.2% | 56.3% | 21.55% |
3 Yr | 6.9%* | -31.3% | 22.2% | 20.30% |
5 Yr | 14.3%* | -16.7% | 28.7% | 28.67% |
10 Yr | 14.1%* | -5.9% | 18.7% | 22.37% |
* Annualized
Total Return Ranking - Calendar
Period | FACEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 44.9% | -4.6% | 72.4% | 18.67% |
2022 | -31.9% | -61.7% | 5.6% | 59.76% |
2021 | 25.2% | -39.8% | 118.1% | 26.90% |
2020 | 32.5% | 2.8% | 149.2% | 60.95% |
2019 | 33.0% | -5.2% | 49.4% | 50.72% |
NAV & Total Return History
FACEX - Holdings
Concentration Analysis
FACEX | Category Low | Category High | FACEX % Rank | |
---|---|---|---|---|
Net Assets | 229 M | 242 K | 269 B | 74.49% |
Number of Holdings | 58 | 1 | 3217 | 54.73% |
Net Assets in Top 10 | 117 M | 104 K | 111 B | 75.00% |
Weighting of Top 10 | 54.42% | 0.7% | 205.0% | 30.48% |
Top 10 Holdings
- MICROSOFT CORP COMMON STOCK 13.49%
- APPLE INC COMMON STOCK 8.15%
- AMAZON.COM INC COMMON STOCK 7.06%
- NVIDIA CORP COMMON STOCK 6.03%
- ALPHABET INC-CL A COMMON STOCK 3.55%
- ELI LILLY CO COMMON STOCK 3.42%
- VISA INC-CLASS A SHARES COMMON STOCK 3.39%
- META PLATFORMS INC COMMON STOCK 3.31%
- ALPHABET INC-CL C COMMON STOCK 3.11%
- MASTERCARD INC - A COMMON STOCK 2.90%
Asset Allocation
Weighting | Return Low | Return High | FACEX % Rank | |
---|---|---|---|---|
Stocks | 98.91% | 0.00% | 130.05% | 47.21% |
Cash | 1.09% | -1.50% | 173.52% | 52.20% |
Preferred Stocks | 0.00% | 0.00% | 7.84% | 66.30% |
Other | 0.00% | -43.49% | 50.04% | 67.99% |
Convertible Bonds | 0.00% | 0.00% | 1.94% | 61.17% |
Bonds | 0.00% | 0.00% | 104.15% | 63.01% |
Stock Sector Breakdown
Weighting | Return Low | Return High | FACEX % Rank | |
---|---|---|---|---|
Technology | 38.75% | 0.00% | 65.70% | 35.79% |
Consumer Cyclical | 19.96% | 0.00% | 62.57% | 19.20% |
Healthcare | 13.05% | 0.00% | 39.76% | 43.06% |
Communication Services | 11.50% | 0.00% | 66.40% | 40.44% |
Financial Services | 10.71% | 0.00% | 43.06% | 35.53% |
Industrials | 2.73% | 0.00% | 30.65% | 85.62% |
Basic Materials | 1.10% | 0.00% | 18.91% | 52.88% |
Consumer Defense | 0.97% | 0.00% | 25.50% | 81.39% |
Energy | 0.76% | 0.00% | 41.09% | 44.25% |
Real Estate | 0.47% | 0.00% | 16.05% | 59.48% |
Utilities | 0.00% | 0.00% | 16.07% | 72.93% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | FACEX % Rank | |
---|---|---|---|---|
US | 98.91% | 0.00% | 130.05% | 36.15% |
Non US | 0.00% | 0.00% | 78.10% | 72.64% |
FACEX - Expenses
Operational Fees
FACEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.88% | 0.01% | 19.54% | 58.43% |
Management Fee | 0.50% | 0.00% | 1.50% | 28.41% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 46.30% |
Administrative Fee | N/A | 0.01% | 1.02% | N/A |
Sales Fees
FACEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 8.50% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
FACEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
FACEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 17.00% | 0.00% | 316.74% | 19.96% |
FACEX - Distributions
Dividend Yield Analysis
FACEX | Category Low | Category High | FACEX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 28.16% | 80.29% |
Dividend Distribution Analysis
FACEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
FACEX | Category Low | Category High | FACEX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.31% | -6.13% | 3.48% | 49.31% |
Capital Gain Distribution Analysis
FACEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 31, 2019 | $0.010 | OrdinaryDividend |
Dec 13, 2019 | $1.393 | OrdinaryDividend |
Dec 31, 2018 | $0.007 | OrdinaryDividend |
Dec 29, 2017 | $0.029 | OrdinaryDividend |
Dec 27, 2010 | $0.007 | OrdinaryDividend |
Dec 24, 2009 | $0.011 | OrdinaryDividend |
Dec 24, 2008 | $0.010 | OrdinaryDividend |
FACEX - Fund Manager Analysis
Managers
John Lutz
Start Date
Tenure
Tenure Rank
Apr 25, 2008
14.11
14.1%
John Lutz, CFA® Senior Fund Manager and Senior Research Analyst John joined Frost Bank, the parent company of Frost Investment Advisors, LLC, in 1995 as a research analyst and has over 20 years of investment experience. As the lead manager of the Frost Growth Equity team, he is directly responsible for stock selection and sector allocation.
Jonathan Waite
Start Date
Tenure
Tenure Rank
May 16, 2022
0.04
0.0%
Jonathan M. Waite, CFA, CPA, is the founder of McKay Capital Management, LLC, which manages a long-short, consumer discretionary focused equity fund. Since inception through the end of 2008, the fund beat the relevant consumer discretionary index by 64 percentage points with less than a third of the volatility (including a net performance of up 7.5% in 2008). Before McKay, Jonathan was the senior equity restaurant analyst at McDonald Investments/KeyBanc Capital Markets. Jonathan developed proprietary “grass roots” survey work to bring value-added industry insight and market leading investment recommendations to his institutional investor client base. This included developing relationships with franchisees, consultants, restaurant operators as well as executives from small, mid and large-cap companies. Jonathan was recognized twice by the Wall Street Journal’s “Best on the Street” for stock picking in his industry (ranked #1 in 2003 and #2 in 2005). In addition, he was highly ranked by Zachs and Starmine for his stock picking.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 54.45 | 8.21 | 3.08 |