OPTIMUM LARGE CAP GROWTH FUND
Name
As of 04/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
6.9%
1 yr return
33.4%
3 Yr Avg Return
1.6%
5 Yr Avg Return
9.8%
Net Assets
$1.93 B
Holdings in Top 10
49.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.00%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 25.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
OCLGX - Profile
Distributions
- YTD Total Return 6.9%
- 3 Yr Annualized Total Return 1.6%
- 5 Yr Annualized Total Return 9.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.55%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
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Legal NameOPTIMUM LARGE CAP GROWTH FUND
-
Fund Family NameDelaware Funds by Macquarie
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Inception DateJul 23, 2003
-
Shares OutstandingN/A
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Share ClassC
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CurrencyUSD
-
Domiciled CountryUS
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ManagerJoseph Fath
Fund Description
Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, if any, in equity securities of large market capitalization companies (80% policy). This policy may be changed only upon 60 days’ prior notice to shareholders. For purposes of this Fund, large market capitalization companies are those companies whose market capitalization is similar to the market capitalization of companies in the Russell 1000® Growth Index. As of June 30, 2023, the Russell 1000® Growth Index (Index) had a market capitalization range between $521.37 million and $3,068.98 billion. The market capitalization range for this Index will change on a periodic basis. A company’s market capitalization is based on its current market capitalization or its market capitalization at the time of the Fund’s investment. Companies whose market capitalization no longer meets this definition after purchase continue to be considered to have a large capitalization for purposes of this 80% policy. Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.
The Fund intends to invest primarily in common stocks of US companies, but it may also invest in other securities that a sub-advisor believes provide opportunities for capital growth, such as preferred stocks, warrants, and securities convertible to common stocks. In keeping with the Fund’s investment objective, the Fund may also invest in foreign securities, including American depositary receipts (ADRs) and other depositary receipts and shares; derivatives, including futures and options; and fixed income securities, including those rated below investment grade.
The Fund’s manager, Delaware Management Company (Manager), has selected American Century Investment Management, Inc. (“American Century”) and Los Angeles Capital Management LLC (Los Angeles Capital) to serve as the Fund’s sub-advisors. Each sub-advisor is responsible for the day-to-day investment management of the portion of the Fund’s assets that the Manager allocates to the sub-advisor. The Manager may change the allocation at any time. The relative values of each sub-advisor’s share of the Fund’s assets also may change over time. Each sub-advisor selects investments for its portion of the Fund based on the sub-advisor’s own investment style and strategy.
The portfolio managers of American Century look for stocks of larger-sized companies they believe will increase in value over time. The portfolio managers use a bottom-up approach to stock selection. This means that the portfolio managers make their investment decisions based primarily on their analysis of individual companies, rather than on broad economic forecasts. Management of their portion of the Fund is based on the belief that, over the long term, stock price movements follow growth in earnings, revenues and/or cash flow.
Using a variety of analytical research tools, the portfolio managers of American Century track financial information for individual companies to identify and evaluate trends in earnings, revenues and other business fundamentals. Under normal market conditions, the portfolio managers seek securities of companies whose earnings and revenues are not only growing, but growing at an accelerated pace. This includes companies whose growth rates, although still negative, are less negative than prior periods, and companies whose growth rates are expected to accelerate. Among other variables, the portfolio managers will consider the fund’s growth and momentum profile relative to the benchmark. Other analytical techniques help identify additional signs of business improvement, such as increasing cash flows, or other indications of the relative strength of a company’s business. In addition to accelerating growth and other signs of business improvement, the portfolio managers of American Century also consider companies demonstrating price strength relative to their peers. This means that the portfolio managers favor companies whose securities are the strongest performers compared to the overall market. These techniques help the portfolio managers make decisions about buying or holding the stocks of companies they believe have favorable growth prospects and sell the stocks of companies whose characteristics no longer meet their criteria.
In managing its portion of the Fund’s assets, Los Angeles Capital uses a proprietary quantitative model that includes fundamental data inputs for a universe of large cap equity securities and, through the use of statistical tools, estimates expected returns based on each security’s risk characteristics and the expected return to each characteristic in the current market environment. Security weights are assigned through an integrated optimization process which identifies the portfolio with the highest expected return for an acceptable level of risk. Los Angeles Capital also employs monitoring tools and certain additional constraints to ensure compliance with guidelines and Fund regulations. The portfolio is rebalanced periodically using the quantitative model. As economic conditions change and investor risk preferences evolve, Los Angeles Capital’s forecasts will change accordingly. Los Angeles Capital will ordinarily seek to almost fully invest its segment of the Fund’s portfolio.
In response to market, economic, political, or other conditions, a sub-advisor may temporarily use a different investment strategy for defensive purposes. If a sub-advisor does so, different factors could affect the Fund’s performance and the Fund may not achieve its investment objective. The Fund’s investment
objective is nonfundamental and may be changed without shareholder approval. However, the Fund’s Board of Trustees (Board) must approve any changes to nonfundamental investment objectives, and the Fund’s shareholders would be given at least 60 days’ notice prior to any such change.
OCLGX - Performance
Return Ranking - Trailing
Period | OCLGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 6.9% | -39.2% | 19.3% | 57.35% |
1 Yr | 33.4% | -24.8% | 65.1% | 53.93% |
3 Yr | 1.6%* | -30.8% | 22.0% | 75.22% |
5 Yr | 9.8%* | -16.0% | 28.0% | 85.96% |
10 Yr | 11.7%* | -5.5% | 18.8% | 70.26% |
* Annualized
Return Ranking - Calendar
Period | OCLGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.1% | -74.1% | 72.4% | 91.70% |
2022 | -39.8% | -85.9% | 4.7% | 78.23% |
2021 | -4.0% | -52.4% | 60.5% | 81.35% |
2020 | 19.3% | -34.3% | 145.0% | 73.69% |
2019 | 24.9% | -21.8% | 49.4% | 47.88% |
Total Return Ranking - Trailing
Period | OCLGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 6.9% | -39.2% | 19.3% | 57.35% |
1 Yr | 33.4% | -24.8% | 65.1% | 53.93% |
3 Yr | 1.6%* | -30.8% | 22.0% | 75.22% |
5 Yr | 9.8%* | -16.0% | 28.0% | 85.96% |
10 Yr | 11.7%* | -5.5% | 18.8% | 70.26% |
* Annualized
Total Return Ranking - Calendar
Period | OCLGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 39.8% | -4.6% | 72.4% | 41.26% |
2022 | -35.4% | -61.7% | 5.6% | 78.58% |
2021 | 16.5% | -39.8% | 118.1% | 76.02% |
2020 | 32.6% | 2.8% | 149.2% | 60.35% |
2019 | 30.1% | -5.2% | 49.4% | 75.77% |
NAV & Total Return History
OCLGX - Holdings
Concentration Analysis
OCLGX | Category Low | Category High | OCLGX % Rank | |
---|---|---|---|---|
Net Assets | 1.93 B | 242 K | 269 B | 41.96% |
Number of Holdings | 151 | 1 | 3217 | 14.26% |
Net Assets in Top 10 | 894 M | 104 K | 111 B | 44.82% |
Weighting of Top 10 | 49.90% | 0.7% | 205.0% | 48.43% |
Top 10 Holdings
- Apple Inc 12.49%
- Microsoft Corp 8.98%
- NVIDIA Corp 5.91%
- Amazon.com Inc 5.80%
- Alphabet Inc 3.17%
- Alphabet Inc 3.13%
- Mastercard Inc 2.75%
- Meta Platforms Inc 2.71%
- Tesla Inc 2.57%
- UnitedHealth Group Inc 2.39%
Asset Allocation
Weighting | Return Low | Return High | OCLGX % Rank | |
---|---|---|---|---|
Stocks | 99.73% | 0.00% | 130.05% | 16.04% |
Cash | 0.27% | -1.50% | 173.52% | 79.46% |
Preferred Stocks | 0.00% | 0.00% | 7.84% | 35.48% |
Convertible Bonds | 0.00% | 0.00% | 1.94% | 25.51% |
Bonds | 0.00% | 0.00% | 104.15% | 29.29% |
Other | 0.00% | -43.49% | 50.04% | 96.35% |
Stock Sector Breakdown
Weighting | Return Low | Return High | OCLGX % Rank | |
---|---|---|---|---|
Technology | 36.97% | 0.00% | 65.70% | 44.39% |
Consumer Cyclical | 21.26% | 0.00% | 62.57% | 13.95% |
Healthcare | 12.56% | 0.00% | 39.76% | 52.55% |
Communication Services | 12.19% | 0.00% | 66.40% | 32.31% |
Industrials | 7.47% | 0.00% | 30.65% | 33.59% |
Financial Services | 7.06% | 0.00% | 43.06% | 70.15% |
Consumer Defense | 1.05% | 0.00% | 25.50% | 80.87% |
Real Estate | 0.84% | 0.00% | 16.05% | 53.32% |
Basic Materials | 0.60% | 0.00% | 18.91% | 66.84% |
Utilities | 0.00% | 0.00% | 16.07% | 45.66% |
Energy | 0.00% | 0.00% | 41.09% | 63.35% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | OCLGX % Rank | |
---|---|---|---|---|
US | 98.55% | 0.00% | 130.05% | 44.82% |
Non US | 1.18% | 0.00% | 78.10% | 26.15% |
OCLGX - Expenses
Operational Fees
OCLGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.00% | 0.01% | 19.54% | 6.81% |
Management Fee | 0.69% | 0.00% | 1.50% | 65.56% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 83.77% |
Administrative Fee | 0.05% | 0.01% | 1.02% | 27.49% |
Sales Fees
OCLGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 8.50% | N/A |
Deferred Load | 1.00% | 1.00% | 5.00% | 29.85% |
Trading Fees
OCLGX 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.
OCLGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 25.00% | 0.00% | 316.74% | 35.00% |
OCLGX - Distributions
Dividend Yield Analysis
OCLGX | Category Low | Category High | OCLGX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 27.99% | 56.04% |
Dividend Distribution Analysis
OCLGX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
OCLGX | Category Low | Category High | OCLGX % Rank | |
---|---|---|---|---|
Net Income Ratio | -1.55% | -6.13% | 3.48% | 97.23% |
Capital Gain Distribution Analysis
OCLGX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
OCLGX - Fund Manager Analysis
Managers
Joseph Fath
Start Date
Tenure
Tenure Rank
Jan 17, 2014
8.37
8.4%
Joe Fath is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. He is the portfolio manager and chairman of the Investment Advisory Committee for the Growth Stock Fund. He is also a member of the portfolio management team for the US Large-Cap Growth Equity Strategy in the U.S. Equity Division. Joe serves as a vice president and Investment Advisory Committee member of the Media & Telecommunications, Capital Opportunity and Mid-Cap Growth Funds. He joined the firm in 2002 as an analyst covering gaming, lodging, cruise lines, airlines, and air freight and logistics companies after serving as a summer intern for the firm in 2001. He was also the chief financial officer and cofounder of Broadform, Inc., a start-up educational/software company. In addition, Joe worked as director of operations analysis for Players International, a multi-jurisdictional gaming operator in the United States. He also was employed by Coopers & Lybrand as a senior associate in the Business Assurance and Financial Services Group. Joe graduated, with honors, with a B.S. in accounting from the University of Illinois at Urbana-Champaign. He earned an M.B.A., with honors, in finance and entrepreneurial management from the Wharton School, University of Pennsylvania. Joe also has earned the Certified Public Accountant accreditation.
Peter Bourbeau
Start Date
Tenure
Tenure Rank
Oct 06, 2017
4.65
4.7%
Peter co-manages the Large Cap Growth and All Cap Growth strategy products. Peter joined predecessor firm Shearson Asset Management in 1991, and has 29 years of investment industry experience. During his career, Peter has worked in trading, fund management, research, and investment marketing. A graduate of the University of Florida, Peter obtained his MBA from Fordham University.
Margaret Vitrano
Start Date
Tenure
Tenure Rank
Oct 06, 2017
4.65
4.7%
Margaret co-manages the Large Cap Growth and All Cap Growth strategies. Margaret has 24 years of investment industry experience and joined a ClearBridge predecessor organization in 1997. Margaret is a member of the ClearBridge Management Committee. From 2006-2009, Margaret served on the firm's 401(k) Investment Committee, which is responsible for choosing and overseeing investments for the firm's employee retirement plan. Prior to her role at ClearBridge, Margaret was a Research Analyst for the Consumer Discretionary sector at Citigroup. Margaret earned her MBA from the Wharton School of the University of Pennsylvania and a BA in Public Policy Studies and Art History from Duke University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 54.45 | 8.22 | 3.08 |