Equity

Large Value SMA

Russell 1000® Value Index
Benchmark name
1/1/1992
Inception date
Special Global Equity Team
Team
$100.7M
Assets under management
Data as of 12/31/2023
SMA overview
Generating alpha via CPA-minded approaches
The Large Value SMA pursues long-term returns through investing in large-cap value companies with sustainable competitive advantages.

The SMA seeks to uncover market inefficiencies with a distinct investment approach. 

Key differentiators

  • Leverages a CPA-based investment process to analyzing financial statements
  • Performs rigorous bottom-up research to identify companies with sustainable competitive advantages
  • Employs disciplined valuation procedures

General facts

Weight average market cap

268.66

Dividend yield

1.75%

Quick resources

Performance

Average annual returns Add Minus

Average annual returns

(as of 12/31/2023)
1/1/1992
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Pure Gross)
6.67
10.59
14.60
14.60
10.35
13.34
9.61
11.42
Composite (Net)
6.40
9.75
11.20
11.20
7.10
10.00
6.38
8.15
Russell 1000® Value Index
5.54
9.50
11.46
11.46
8.86
10.91
8.40
10.50
S&P 500 Index
4.54
11.69
26.29
26.29
10.00
15.69
12.03
13.12

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.

Please keep in mind that high double-digit returns were primarily achieved during favorable market conditions. You should not expect that such favorable returns can be consistently achieved. A fund's performance, especially for short time periods, should not be the sole factor in making your investment decision.

Calendar year Add Minus

Calendar year

(as of 12/31/2023)
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund
14.60
-5.35
23.88
6.63
30.50
-4.62
16.83
8.25
-0.36
11.33
Benchmark
11.46
-7.54
25.16
2.80
26.54
-8.27
13.66
17.34
-3.83
13.45

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 1.63 2.61 13.73
Beta 0.97 0.95 0.97
Downside Market Capture Ratio 94.41 95.07 97.35
Information Ratio 0.41 0.73 0.40
R2 0.95 0.97 0.96
Sharpe Ratio 0.49 0.63 0.55
Standard Deviation 16.38 18.20 15.12
Tracking Error 3.61 3.33 3.02
Upside Market Capture Ratio 98.85 102.16 100.42
Correlation 0.98 0.98 0.98

Composition

Portfolio statistics Add Minus

Portfolio statistics

(as of 12/31/2023)
SMA Benchmark
Number of holdings 47 849
Top 10 holdings Add Minus

Top 10 holdings

(as of 12/31/2023)
Security
SMA
AerCap Holdings NV
3.93%
Bank of America Corp
3.39%
Alphabet Inc. Class C
3.34%
Intercontinental Exchange, Inc.
3.22%
CBRE Group, Inc. Class A
3.11%
Cigna Group
2.99%
JPMorgan Chase & Co.
2.99%
NextEra Energy, Inc.
2.86%
Walmart Inc.
2.80%
ConocoPhillips
2.75%
Top 10 represents 31.37% 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
3.04% -
Communication services
4.81% 4.68%
Consumer discretionary
3.82% 5.16%
Consumer staples
8.89% 7.85%
Energy
7.11% 7.76%
Financials
22.11% 21.81%
Health care
13.50% 14.60%
Industrials
16.41% 13.86%
Information technology
7.65% 9.55%
Materials
4.04% 4.86%
Real estate
5.75% 5.05%
Utilities
2.86% 4.83%

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 follows a fundamental approach of identifying companies with competitive advantages, sustainable free cash flow, and flexible balance sheets, helping deliver long-term capital appreciation.

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. Management Risk: Investment decisions, techniques, and analyses implemented by the manager may not lead to expected returns of the team. Style Risk: Style factor exposure including but not limited to, beta, growth, value, liquidity, etc. can perform differently and shift in and out of favor through a market cycle.

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.