Equity

Small Value SMA

Russell 2000® Value Index
Benchmark name
12/31/2011
Inception date
Special Global Equity Team
Team
$7.3M
Assets under management
Data as of 12/31/2023
SMA overview
Alpha generation with a CPA-based process
The Small Value SMA seeks to consistently outperform benchmarks and peers while maintaining a low-risk profile.

Performance is driven by exploiting market inefficiencies by using a distinct CPA-based approach.

Key differentiators

  • Leverages accountant-based process approach to rigorously research company financials
  • Uses bottom-up research to find companies with durable competitive advantages, free cash flow generation, and balance sheet flexibility
  • Relies on a valuation discipline to invest in companies with favorable reward/risk profiles

General facts

Weight average market cap

3.63

Dividend yield

1.91%

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)
10.42
12.59
19.48
19.48
10.56
12.40
9.27
12.01
Composite (Net)
10.14
11.73
15.95
15.95
7.30
9.09
6.05
8.72
Russell 2000® Value Index
12.45
15.26
14.65
14.65
7.94
10.00
6.76
9.75

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
19.48
-12.76
29.65
2.35
29.71
-12.68
12.40
30.95
-3.34
8.85
Benchmark
14.65
-14.48
28.27
4.63
22.39
-12.86
7.84
31.74
-7.47
4.22

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 3.27 3.03 29.19
Beta 0.87 0.89 0.89
Downside Market Capture Ratio 87.88 92.65 95.79
Information Ratio 0.48 0.48 0.59
R2 0.95 0.97 0.96
Sharpe Ratio 0.43 0.47 0.43
Standard Deviation 19.36 22.53 18.73
Tracking Error 5.43 5.00 4.24
Upside Market Capture Ratio 88.36 86.43 87.11
Correlation 0.97 0.98 0.98

Composition

Portfolio statistics Add Minus

Portfolio statistics

(as of 12/31/2023)
SMA Benchmark
Number of holdings 120 1431
Top 10 holdings Add Minus

Top 10 holdings

(as of 12/31/2023)
Security
SMA
Innospec Inc.
3.61%
Mueller Industries, Inc.
3.49%
J & J Snack Foods Corp.
3.09%
Eagle Materials Inc.
3.01%
Franklin Electric Co., Inc.
2.86%
Avient Corporation
2.51%
UMB Financial Corporation
2.27%
Spectrum Brands Holdings, Inc.
2.12%
CSW Industrials, Inc.
1.78%
Enstar Group Limited
1.71%
Top 10 represents 26.46% 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
2.75% -
Cash & equivalents
2.16% -
Communication services
0.69% 2.43%
Consumer discretionary
5.78% 10.88%
Consumer staples
8.86% 2.34%
Energy
6.75% 9.17%
Financials
18.28% 27.19%
Health care
4.71% 8.82%
Industrials
29.22% 14.14%
Information technology
3.78% 5.91%
Materials
15.71% 4.75%
Real estate
0.95% 10.47%
Utilities
0.36% 3.89%

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

 

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. Management Risk: Investment decisions, techniques, and analyses implemented by the manager may not lead to expected returns of the team. Market Risk: Securities held by the strategy could decline due to general market conditions or other factors, including those with the issuer of the stock. Smaller Company Securities Risk: Securities of smaller market capitalization companies tend to have more volatility and less liquidity compared to 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.