Equity

Mid Value SMA

Russell Midcap® Value Index
Benchmark name
12/31/2011
Inception date
Special Global Equity Team
Team
$24.9M
Assets under management
Data as of 12/31/2023
SMA overview
Alpha generation with a CPA-based process
The Mid Value SMA pursues long-term capital returns by investing in mid-cap value companies with sustainable competitive advantages.

By adopting a CPA lens to analyze and exploit market inefficiencies, the SMA aims to consistently outperform benchmarks and peers while pursuing a low-risk profile.

Key differentiators

  • Leverages accounting expertise to rigorously analyze company financials
  • Performs bottom-up research to find companies with durable competitive advantages, free cash flow generation, and balance sheet flexibility
  • Uses a disciplined valuation process to identify companies with favorable reward/risk profiles

General facts

Weight average market cap

23.85

Dividend yield

1.98%

Quick resources

Performance

Average annual returns Add Minus

Average annual returns

(as of 12/31/2023)
12/31/2011
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Pure Gross)
6.35
9.54
10.21
10.21
10.53
13.16
9.51
12.62
Composite (Net)
6.08
8.71
6.94
6.94
7.27
9.83
6.28
9.32
Russell Midcap® Value Index
7.79
12.11
12.71
12.71
8.36
11.16
8.26
11.00

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
10.21
-4.88
28.80
2.09
34.62
-12.39
12.13
22.69
-1.88
13.01
Benchmark
12.71
-12.03
28.34
4.96
27.06
-12.29
13.34
20.00
-4.78
14.75

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 2.92 2.58 17.19
Beta 0.86 0.92 0.92
Downside Market Capture Ratio 87.71 92.82 95.40
Information Ratio 0.48 0.50 0.35
R2 0.96 0.97 0.96
Sharpe Ratio 0.49 0.55 0.50
Standard Deviation 17.07 20.44 16.46
Tracking Error 4.49 3.99 3.51
Upside Market Capture Ratio 89.57 91.31 88.93
Correlation 0.98 0.99 0.98

Composition

Portfolio statistics Add Minus

Portfolio statistics

(as of 12/31/2023)
SMA Benchmark
Number of holdings 62 703
Top 10 holdings Add Minus

Top 10 holdings

(as of 12/31/2023)
Security
SMA
Republic Services, Inc.
3.78%
AerCap Holdings NV
3.63%
Carlisle Companies Incorporated
3.51%
CBRE Group, Inc. Class A
3.21%
Jacobs Solutions Inc.
3.03%
Keurig Dr Pepper Inc.
3.00%
Vulcan Materials Company
3.00%
Allstate Corporation
2.96%
LKQ Corporation
2.65%
Arch Capital Group Ltd.
2.63%
Top 10 represents 31.39% 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
Other
0.00% -
Cash & equivalents
3.85% -
Communication services
0.00% 3.23%
Consumer discretionary
6.59% 9.41%
Consumer staples
7.21% 3.74%
Energy
5.66% 5.24%
Financials
18.50% 17.60%
Health care
7.52% 6.81%
Industrials
23.20% 19.14%
Information technology
4.63% 9.49%
Materials
7.89% 7.59%
Real estate
9.04% 10.59%
Utilities
5.92% 7.16%

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

 

Investment decisions, techniques, and analyses implemented by the manager may not lead to expected returns of the team. Securities held by the strategy could decline due to general market conditions or other factors, including those with the issuer of the stock. 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.