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abrdn Focused U.S. Small Cap Equity Fund
mutual fund
GLSRX
Payout Change
Suspended
Price as of:
$6.68
+0.0
+0.0%
primary theme
N/A
share class
GLSRX (Mutual Fund)
abrdn Focused U.S. Small Cap Equity Fund
Payout Change
Suspended
Price as of:
$6.68
+0.0
+0.0%
primary theme
N/A
share class
GLSRX (Mutual Fund)
abrdn Focused U.S. Small Cap Equity Fund
Payout Change
Suspended
Price as of:
$6.68
+0.0
+0.0%
primary theme
N/A
share class
Name
As of 10/18/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
15.0%
1 yr return
37.4%
3 Yr Avg Return
-1.6%
5 Yr Avg Return
10.0%
Net Assets
$13.7 M
Holdings in Top 10
32.6%
52 WEEK LOW AND HIGH
$6.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.62%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 157.35%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/18/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
GLSRX - Profile
Distributions
- YTD Total Return 15.0%
- 3 Yr Annualized Total Return -1.6%
- 5 Yr Annualized Total Return 10.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.78%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal Nameabrdn Focused U.S. Small Cap Equity Fund
-
Fund Family Nameabrdnfunds
-
Inception DateMar 11, 2004
-
Shares OutstandingN/A
-
Share ClassR
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJason Kotik
Fund Description
As a non-fundamental policy, under normal circumstances, the Focused U.S. Small Cap Equity Fund invests at least 80% of the value of its net assets, plus any borrowings for investment purposes, in equity securities issued by U.S. small-cap companies. The Fund will be managed pursuant to a “focused” strategy whereby the Fund’s investment adviser will typically invest the Fund’s assets in a small number of issuers. Generally, the Fund expects to hold approximately 35 to 45 issuers.
For purposes of the Fund’s 80% policy, a company is considered to be a U.S. company if Fund management determines that the company meets one or more of the following criteria:
| ● | the company is organized under the laws of, or has its principal office in the United States; |
| ● | the company has its principal securities trading market in the United States; and/or |
| ● | the company derives the majority of its annual revenue or earnings or assets from goods produced, sales made or services performed in the United States. |
The Fund considers small-cap companies to be companies that have market capitalizations similar to those of companies include in the Russell 2000® Index at the time of investment. The range of the Russell 2000® Index was $16.95 million to $15.04 billion as of December 31, 2023.
Some companies may outgrow the definition of a small company after the Fund has purchased their securities or may no longer fall within the range of a reconstituted index. These companies continue to be considered small for purposes of the Fund’s minimum 80% allocation to small company equities. While the Fund may sell a security if its market capitalization exceeds the definition of small-cap company, it is not required to sell solely because of that fact.
Equity securities include, but are not limited to, common stock, preferred stock and depositary receipts.
The Fund may invest in securities of any market sector and may hold a significant amount of securities of companies, from time to time, within a single sector. The Fund currently anticipates that it will have significant exposure to the industrials sector.
The Fund may invest in securities denominated in U.S. Dollars and the currencies of any foreign countries in which it is permitted to invest. The Fund typically has full currency exposure to those markets in which it invests. The Fund may also invest in non-U.S. companies, including primarily Canadian companies.
In seeking to achieve the Fund’s investment objective, the Adviser invests in quality companies and is an active, engaged owner. The Adviser evaluates every company against its own quality criteria and builds conviction using a team-based approach and peer review process. The quality assessment covers five key factors: 1) the durability of the business model, 2) the attractiveness of the industry, 3) the strength of financials, 4) the capability of management, and 5) the most material environmental, social and governance (“ESG”) factors impacting a company. As ESG information is just one investment consideration, ESG considerations generally are not solely determinative in any investment decision made by the Adviser. Through fundamental research, supported by a global research presence, the Adviser seeks to identify companies whose quality and future prospects are not yet fully recognized by the market.
GLSRX - Performance
Return Ranking - Trailing
| Period | GLSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 15.0% | -8.1% | 65.2% | 45.29% |
| 1 Yr | 37.4% | 14.8% | 68.6% | 36.23% |
| 3 Yr | -1.6%* | -19.5% | 59.4% | 52.21% |
| 5 Yr | 10.0%* | -1.9% | 48.1% | 39.77% |
| 10 Yr | 8.2%* | 2.1% | 25.6% | 77.75% |
* Annualized
Return Ranking - Calendar
| Period | GLSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.2% | -20.5% | 54.6% | 82.18% |
| 2022 | -26.5% | -82.1% | 32.2% | 26.10% |
| 2021 | -3.2% | -90.6% | 300.1% | 39.52% |
| 2020 | 11.5% | -63.0% | 127.9% | 95.38% |
| 2019 | 25.4% | -7.7% | 42.9% | 35.38% |
Total Return Ranking - Trailing
| Period | GLSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 15.0% | -8.1% | 65.2% | 45.29% |
| 1 Yr | 37.4% | 14.8% | 68.6% | 36.23% |
| 3 Yr | -1.6%* | -19.5% | 59.4% | 52.21% |
| 5 Yr | 10.0%* | -1.9% | 48.1% | 39.77% |
| 10 Yr | 8.2%* | 2.1% | 25.6% | 77.75% |
* Annualized
Total Return Ranking - Calendar
| Period | GLSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.2% | -19.0% | 136.8% | 88.55% |
| 2022 | -26.5% | -59.9% | 44.3% | 42.10% |
| 2021 | 27.7% | -22.7% | 411.9% | 5.38% |
| 2020 | 26.6% | 1.5% | 150.8% | 80.96% |
| 2019 | 34.0% | 5.5% | 55.3% | 30.63% |
NAV & Total Return History
GLSRX - Holdings
Concentration Analysis
| GLSRX | Category Low | Category High | GLSRX % Rank | |
|---|---|---|---|---|
| Net Assets | 13.7 M | 214 K | 34.3 B | 96.20% |
| Number of Holdings | 39 | 7 | 1226 | 93.66% |
| Net Assets in Top 10 | 4.54 M | 52.5 K | 3.24 B | 95.83% |
| Weighting of Top 10 | 32.57% | 7.9% | 100.0% | 21.78% |
Top 10 Holdings
- WSFS Financial Corp 4.38%
- Wintrust Financial Corp 3.61%
- Q2 Holdings Inc 3.48%
- Seacoast Banking Corp of Florida 3.26%
- Integer Holdings Corp 3.03%
- TMX Group Ltd 3.01%
- Boot Barn Holdings Inc 2.98%
- Enpro Inc 2.97%
- Merit Medical Systems Inc 2.94%
- Graphic Packaging Holding Co 2.92%
Asset Allocation
| Weighting | Return Low | Return High | GLSRX % Rank | |
|---|---|---|---|---|
| Stocks | 98.75% | 85.75% | 107.62% | 32.43% |
| Cash | 1.28% | 0.00% | 28.78% | 64.31% |
| Preferred Stocks | 0.00% | 0.00% | 4.63% | 66.67% |
| Other | 0.00% | -0.26% | 6.70% | 71.92% |
| Convertible Bonds | 0.00% | 0.00% | 1.57% | 62.86% |
| Bonds | 0.00% | 0.00% | 3.83% | 62.32% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GLSRX % Rank | |
|---|---|---|---|---|
| Industrials | 26.31% | 0.00% | 36.64% | 3.99% |
| Technology | 20.66% | 2.91% | 75.51% | 79.53% |
| Financial Services | 18.26% | 0.00% | 42.95% | 5.62% |
| Healthcare | 10.03% | 0.00% | 47.90% | 94.75% |
| Consumer Cyclical | 9.58% | 0.00% | 24.04% | 78.62% |
| Utilities | 5.57% | 0.00% | 5.57% | 0.72% |
| Consumer Defense | 4.50% | 0.00% | 13.56% | 37.32% |
| Communication Services | 3.12% | 0.00% | 15.31% | 33.88% |
| Real Estate | 1.98% | 0.00% | 15.31% | 50.00% |
| Energy | 0.00% | 0.00% | 55.49% | 91.30% |
| Basic Materials | 0.00% | 0.00% | 9.24% | 94.02% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GLSRX % Rank | |
|---|---|---|---|---|
| US | 91.41% | 17.30% | 107.62% | 93.30% |
| Non US | 7.34% | 0.00% | 77.12% | 3.08% |
GLSRX - Expenses
Operational Fees
| GLSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.62% | 0.05% | 23.20% | 2.72% |
| Management Fee | 0.75% | 0.05% | 1.62% | 38.66% |
| 12b-1 Fee | 0.50% | 0.00% | 1.00% | 73.84% |
| Administrative Fee | 0.25% | 0.01% | 0.40% | 89.90% |
Sales Fees
| GLSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| GLSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 25.74% |
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.
| GLSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 157.35% | 3.00% | 439.00% | 95.45% |
GLSRX - Distributions
Dividend Yield Analysis
| GLSRX | Category Low | Category High | GLSRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 6.91% | 69.20% |
Dividend Distribution Analysis
| GLSRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| GLSRX | Category Low | Category High | GLSRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.78% | -2.47% | 1.10% | 55.86% |
Capital Gain Distribution Analysis
| GLSRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 29, 2021 | $2.318 | OrdinaryDividend |
| Dec 22, 2020 | $1.011 | OrdinaryDividend |
| Dec 20, 2019 | $0.064 | CapitalGainShortTerm |
| Dec 20, 2019 | $0.392 | CapitalGainLongTerm |
| Dec 20, 2018 | $0.363 | CapitalGainLongTerm |
| Dec 21, 2017 | $2.310 | CapitalGainLongTerm |
| Dec 22, 2016 | $1.067 | CapitalGainLongTerm |
| Dec 18, 2015 | $1.302 | CapitalGainLongTerm |
| Dec 19, 2014 | $2.093 | CapitalGainLongTerm |
| Dec 20, 2013 | $0.208 | CapitalGainLongTerm |
| Dec 20, 2012 | $0.125 | CapitalGainLongTerm |
| Dec 20, 2011 | $0.112 | CapitalGainLongTerm |
GLSRX - Fund Manager Analysis
Managers
Jason Kotik
Start Date
Tenure
Tenure Rank
Dec 31, 2004
17.42
17.4%
Jason Kotik is an Investment Director on the North American Equity team at Aberdeen Standard Investments and a lead portfolio manager for the US Equity Small Cap Core strategy since its inception in 2008. Jason is responsible for US research coverage of transportation companies. Jason joined Aberdeen Asset Management in 2007 following the acquisition of Nationwide Financial Services. Previously, Jason worked at Allied Investment Advisors and T. Rowe Price. Jason graduated from the University of Delaware and earned an MBA from Johns Hopkins University. He is a CFA charterholder.
Ralph Bassett
Start Date
Tenure
Tenure Rank
Dec 31, 2008
13.42
13.4%
Ralph Bassett is Head of North American Equities at abrdn and also is a member of the abrdn Board of Directors. Ralph oversees the region’s research effort in addition to portfolio construction for several of the team’s flagship strategies, including the Small Cap strategy since its inception in 2008. Ralph joined Aberdeen Asset Management in 2006 upon the relocation of the Equity team from London to Philadelphia. Ralph earned a BS in Business, Finance (Hons) from Villanova University. He is a CFA charterholder.
Qie Zhang
Start Date
Tenure
Tenure Rank
Dec 01, 2020
1.5
1.5%
Qie Zhang is an Investment Director on the North American Equity team at abrdn. In this role, Qie analyzes current and prospective investments and co-manages client portfolios. She is the Telecom, Media, Internet and Fintech sector analyst for the team. Qie joined abrdn in 2008 upon receiving her MBA degree from Columbia University. She previously worked for Bloomberg LP. Qie graduated with a BA from Franklin & Marshall College in Biology and Psychology. She is a CFA charterholder.
Tim Skiendzielewski
Start Date
Tenure
Tenure Rank
Dec 01, 2020
1.5
1.5%
Tim Skiendzielewski is an Investment Director on the North American Equity team at abrdn and a portfolio manager for the US Equity Small Cap Core Strategy since 2012. Tim is responsible for US research coverage of software, IT services, and healthcare IT companies. Tim joined Aberdeen in 2012 from Morgan Stanley. Previously, Tim worked for both Promontory Financial Group and Navigant Consulting. Tim graduated with a BS in Finance from Georgetown University and earned an MBA from the University of Chicago. He is a CFA charterholder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 30.44 | 9.12 | 5.25 |
