Stephens Small Cap Growth Strategy

Small Cap Performance


Stephens Small Cap Growth Composite (Inception 10/7/2004)

Month-End as of 6/30/2021:

Performance Since Inception
Annualized Cumulative
Gross 3.53%10.06%41.42%18.72%21.08% 14.23%12.73% 643.11%
Net3.47%9.70%40.48%17.91%20.26% 13.46%11.99%565.77%
Russell 2000® Growth Index 4.69% 8.98% 51.36% 15.93% 18.75% 13.51% 11.05%477.90%

YearTotalStrategy Assets*Composite AssetsAnnual Performance Results3 Yr Annualized Standard Deviation
Firm Assets (millions) USD (millions) No. of Accounts USD (millions) No. of Accounts Composite Russell 2000® Growth Composite Dispersion Composite Gross Russell 2000® Growth
Gross Net
2020 6,916 2,074 17 1,972 13 38.76% 37.83% 34.63% 0.15% 24.41% 25.10%
2019 5,416 1,691 17 1,289 16 24.17% 23.31% 28.48% 0.13% 16.42% 16.37%
2018 4,301 1,518 19 1,155 18 4.40% 3.67% -9.31% 0.06% 16.08% 16.46%
2017 4,442 1,820 18 1.242 17 20.24% 19.41% 22.17% 0.08% 13.06% 14.59%
2016 3,644 1,781 23 1,174 21 11.41% 10.62% 11.32% 0.10% 15.46% 16.67%
2015 2,897 1,610 26 1,095 25 -3.61% -4.26% -1.38% 0.06% 14.64% 14.94%
2014 3,430 2,198 29 1,501 28 -2.31% -2.91% 5.60% 0.08% 13.59% 13.82%
2013 3,054 2,359 29 1,630 28 44.65% 43.74% 43.30% 0.14% 15.30% 17.27%
2012 1,222 1,096 20 888 19 16.99% 16.21% 14.59% 0.07% 18.00% 20.72%
2011 933 859 20 761 19 3.43% 2.74% -2.91% 0.08% 20.96% 24.31%

*Strategy Assets are shown as supplemental information and include all assets managed by the firm to the Small Cap Growth Strategy. Prior to 2020, the mutual fund assets managed to the strategy were not included in composite assets.

Small Cap Growth Composite contains fully discretionary accounts and pooled investment vehicles invested primarily in small cap growth common stock of U.S. companies. Under normal market conditions, most of the securities purchased for this composite have market capitalizations equal to or less than the largest company contained within the Russell 2000® Growth Index at the time the security was initially purchased by accounts in the composite and are securities of companies which appear to have clear indicators of future earnings growth or that appear to demonstrate other potential for growth of capital. In addition to common stock the composite may also purchase convertible and preferred stock as well as certain Exchange Traded Funds. This composite is actively managed and securities in the composite are frequently purchased and sold by the manager. For comparison purposes the composite is measured against the Russell 2000® Growth Index.

Stephens Investment Management Group, LLC claims compliance with the Global investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Stephens Investment Management Group has been independently verified for the periods December 1, 2005 through December 31, 2020. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm's policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. The Small Cap Growth Composite has had a performance examination for the periods October 7, 2004 through December 31, 2020. The verification and performance examination reports are available upon request.

GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

Stephens Investment Management Group, LLC is a registered investment advisor specializing in equity investment management, specifically small and mid-capitalization growth companies.

Results are based on fully discretionary accounts under management, including those accounts no longer with the firm. Past performance is not indicative of future results.

The U.S. Dollar is the currency used to express performance. Returns are presented gross and net of management fees and include the reinvestment of all income. Net of fee performance is calculated using actual management fees and performance fees incurred. Prior to June 2, 2005, accounts in the composite were charged a bundled fee based on a percentage of assets under management. The bundled fee covered investment management, trading and other account expenses. Gross returns for this period are shown as supplemental information and are stated gross of all fees and transaction costs; net returns are reduced by all fees and transaction costs incurred. Policies for valuing investments, calculating performance, and preparing GIPS Reports are available upon request.

The management fee schedule begins at 1.25% of assets under management. Actual investment advisory fees incurred by clients vary.

The Small Cap Growth Composite inception date is October 7, 2004, and the creation date is December 1, 2005. Performance for the period prior to December 1, 2005 occurred while the Portfolio Management Team provided services on behalf of the prior firm, Stephens Inc., and the Portfolio Management Team members were the only individuals responsible for selecting the securities to buy and sell.

Beginning September 30, 2007, composite policy requires the temporary removal of any account from the composite which incurs a client initiated significant cash inflow or outflow of 10% or more of the value of the net assets of the account in any 30 day period. The temporary removal of such an account occurs at the beginning of the month in which the significant cash flow occurs and the account re-enters the composite at the beginning of the month after the cash flow. Additional information regarding the treatment of significant cash flows is available upon request.

This composite was redefined January 1, 2020 to include pooled investment vehicles following the Small Cap Growth Strategy. Prior to that date, only separately managed accounts were included in the composite.

Prior to January 1, 2020, this composite was known as the Small Cap Growth Separate Account.

The annual composite dispersion is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. The three-year annualized ex-post standard deviation of the composite and annual composite dispersion are calculated using gross-of-fees returns.

Firm AUM does not include accrued dividends.

A list of composite descriptions, a list of limited distribution pooled fund descriptions and a list of broad distribution pooled funds are available upon request.
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