Equity

Emerging Growth SMA

Russell 2000® Growth Index
Benchmark name
7/1/1994
Inception date
Dynamic Growth Equity Team
Team
$100.8K
Assets under management
Data as of 12/31/2023
SMA overview
A unique combination of longevity and success
The Emerging Growth SMA pursues long-term outperformance by focusing on small-cap companies that derive growth from secular drivers that offer a long pathway for future growth.

The Emerging Growth SMA focuses on small-cap stocks with underappreciated growth potential.

Key differentiators

  • Leverages extensive track record and team stability to execute a diversified approach
  • Emphasizes consistency of returns within a strong risk management framework centered on sell discipline
  • Implements a fundamental, bottom-up, and multi-step process focused on identifying companies with robust and sustainable growth potential

General facts

Weight average market cap

4.84

Dividend yield

0.13%

Quick resources

Performance

Average annual returns Add Minus

Average annual returns

(as of 12/31/2023)
7/1/1994
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Pure Gross)
7.76
8.71
4.84
4.84
-8.95
8.67
7.59
12.37
Composite (Net)
7.49
7.89
1.72
1.72
-11.68
5.46
4.41
9.07
Russell 2000® Growth Index
11.98
12.75
18.66
18.66
-3.50
9.22
7.16
7.83

One-month, three-month and year-to-date returns are not annualized.

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.

Calendar year Add Minus

Calendar year

(as of 12/31/2023)
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund
4.84
-33.69
8.57
59.03
26.24
2.27
27.19
8.62
-2.01
-0.95
Benchmark
18.66
-26.36
2.83
34.63
28.48
-9.31
22.17
11.32
-1.38
5.60

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Performance and volatility metrics Add Minus

Performance and volatility metrics

(as of 12/31/2023)
3 Year 5 Year 10 Year
Alpha -5.34 -0.39 4.17
Beta 1.02 1.03 1.05
Downside Market Capture Ratio 108.90 103.52 101.76
Information Ratio -0.72 -0.07 0.06
R2 0.90 0.92 0.91
Sharpe Ratio -0.48 0.26 0.28
Standard Deviation 23.41 26.00 22.63
Tracking Error 7.57 7.57 6.94
Upside Market Capture Ratio 96.84 111.47 127.51
Correlation 0.95 0.96 0.95

Composition

Portfolio statistics Add Minus

Portfolio statistics

(as of 12/31/2023)
SMA Benchmark
Number of holdings 102 1074
Top 10 holdings Add Minus

Top 10 holdings

(as of 12/31/2023)
Security
SMA
TransMedics Group, Inc.
3.23%
SPS Commerce, Inc.
3.16%
CyberArk Software Ltd.
3.09%
SPX Technologies, Inc.
3.06%
Casella Waste Systems, Inc. Class A
2.57%
e.l.f. Beauty, Inc.
2.52%
Five9, Inc.
2.37%
BellRing Brands, Inc.
2.31%
Applied Industrial Technologies, Inc.
2.20%
Kinsale Capital Group, Inc.
1.81%
Top 10 represents 26.32% of total net assets

Largest company weights are based on market value of the representative account and not necessarily held in all client portfolios. The information shown is not intended to be, nor should it be construed to be, a recommendation to buy or sell an individual security. A list of all holdings from the prior one-year period is available upon request.

Sector allocation Add Minus

Sector allocation

(as of 12/31/2023)
Type
SMA
Benchmark
Cash & equivalents
2.17% -
Communication services
0.40% 2.17%
Consumer discretionary
9.27% 11.08%
Consumer staples
7.84% 4.50%
Energy
1.62% 4.47%
Financials
4.90% 6.35%
Health care
15.66% 22.37%
Industrials
21.83% 20.04%
Information technology
34.96% 21.67%
Materials
1.35% 4.15%
Real estate
0.00% 1.68%
Utilities
0.00% 1.53%

Sector weighting is based on a representative account within the Allspring Global Investments composite and may have changed since the date specified. Percent total may not add to 100% due to rounding.

Documents

Literature Date
Fact Sheet 12/31/2023 Download Download
Our team
Meet the investment team

The team seeks a style-pure dedication to growth, targeting consistency of returns and focusing on fundamental, bottom-up, all-cap research to identify businesses with sustainable growth.

Contact Us

We look forward to helping you with your investment needs

 

Market Risk: Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Growth/Value Investing Risk: Securities that exhibit growth or value characteristics tend to perform differently and shift into and out of favor with investors depending on changes in market and economic sentiment and conditions. Smaller Company Securities Risk: Companies with smaller market capitalizations tend to be more volatile and less liquid than those of larger companies.

Allspring Managed Account Services (the firm) is a unit within Allspring Global Investments and is responsible for the management and administration of the Allspring Funds Management, LLC, retail separately managed account portfolios (wrap portfolios). Allspring Funds Management acts as a discretionary manager for separately managed accounts ("SMA") and as a non-discretionary model provider in a variety of managed account or wrap fee programs (“MA Programs”) sponsored by third party investment advisers, broker-dealers, or other financial services firms (a “Sponsor”). When acting as non-discretionary model provider, Allspring Funds Management responsibility is limited to providing non-discretionary investment recommendations (in the form of model portfolios) to the Sponsor. The Sponsor may use these recommendations in connection with its management of MA Program accounts. In these “model-based” programs, the Sponsor serves as the investment manager and maintains trade implementation responsibility.