To: City From: D Date: M Subject Recom Eagle As approxim Boards

Agenda Item D-1
Joint Meeting of the Retirement Boards
Meeting Date: 5/26/2015
To: City
y of Fresno Retiremen
nt Systems
s (CFRS) Jo
oint Board
From: Don
D
Strack
ke, CFA, CA
AIA, Allan Martin,
M
and
d Anthony Ferrara, CA
AIA
M
26, 2015
Date: May
mall Cap Growth Stra
ategy
Subjectt: Eagle Sm
Recommendation
sset Manag
gement (“E
Eagle”) is a small cap
p growth m
manager wh
ho manages
Eagle As
approxim
mately $96
6 mm for the CFRS Jo
oint Boardss. We reco
ommend th
hat the Join
nt
Boards keep Eagle
e on watch as a resultt of the strrategy’s un
nderperform
mance sinc
ce
RS.
being hiired by CFR
S
Cap Growth – Performa
ance for C
CFRS
Eagle Small
Perform
mance has been
b
disappointing with the stra
ategy unde
erperformin
ng since
st
inceptio
on. Results are for tim
me periods ending as of March 3
31 , 2015 net of fees
s:
Market Value $
Eagle SCG
Russell 200
00 Growth
Over//Under
$
96,258,69
96
% of
Portfolio
3.8
3.2
10.1
1 4.3
13.9
9
Since Ince ption
Nov-1 0
15.6
6.6
12.1
19
9.4
17.7
7
17.2
-3.4
-2.0
-5
5.1
-3.8
8
-1.6
1Q
1 Yr
2 Yr
3 Yrr
Firm De
escription
n:
Eagle was founded
d in 1976; the firm was
w later inccorporated
d under the
e name Eag
gle
Asset Managemen
nt in 1984.
ge cap veh icle, which began in 1976. The firm
Eagle's first product offering was a larg
me and equity income programs in the mid
d-1980s an
nd small an
nd
added fixed incom
p growth an
nd core veh
hicles in the mid- to llate-1990ss.
mid cap
2
the ownership
o
ary Eagle B
Boston Inve
estment Ma
anagementt, a
of subsidia
In late 2007,
small ca
ap-focused investmen
nt adviser, was transfferred from
m the paren
nt company to
Eagle As
sset Manag
gement.
In Augu
ust 2012, Eagle
E
augm
mented its investmentt lineup witth a small- and mid-c
cap
equity team locate
ed in Stowe
e, Vermontt. Their hirring was an
n addition tto Eagle's
900 Vetera
ans Blvd. | Ste
e. 340 | Redw
wood City, CA 94063-1741
9
| TEL: 650.364..7000 | www.n
nepc.com
BOSTON | ATLANTA | CHARLOTTE | CHICAGO | DETROIT | LAS VEGAS | SAN FRANCISCO
existing investmen
nt talent. As
A of March
h 31, 2015 Eagle and its affiliate
es manage
ed a
er $32 billion.
little ove
Portfolio Team:
sset is a wholly owne
ed subsidiary of Raym
mond Jame
es Financiall. The portffolio
Eagle As
is led by
y Bert Boks
sen and Eric Mintz alo
ong with fo
our analystts.
s:
Process
Eagle se
eeks to cap
pture long term capita
al apprecia
ation of sm
mall, rapidly
y growing,
under-re
esearched companies
s. Eagle be
elieves thatt the small cap marke
et is not we
ell
research
hed by insttitutional in
nvestors an
nd thus the
ey believe they can u
uncover
misprice
ed companies that will enable th
hem to outtperform th
he Russell 2000 Grow
wth
Index.
Portfolio:
erage numb
ber of holdings in the
e portfolio rranges betw
The ave
ween 90 and 120
securitie
es. Individu
ual security
y weighting
gs in the p ortfolio are
e based on
n the portfo
olio
manage
er’s analysis of the grrowth poten
ntial of the
e company.. Weightin
ngs may als
so
be influe
enced by the manage
er’s belief in the long -term com
mpetitive po
osition of th
he
compan
ny. Sector weightings
w
product of the bottom
m-up funda
amental
are a by-p
research
h. However, for risk control
c
purrposes, Eag
gle generallly remains
s +/-10% o
of
the benchmark sector weight. Industry
y weights a
are limited to no more
e than 25%
% of
% of the sec
curities market capita
alizations a
are at or be
elow the
the porttfolio. 80%
largest market cap
pitalization stock in th
he Russell 2000 Inde
ex at the tim
me of
purchas
se.
n
market condittions, the Small
S
Cap Growth Fu
und seeks tto achieve its
During normal
objectiv
ve by investing at leas
st 80% of its net asse
ets in the sstocks of smallcapitaliz
zation companies that, at the tim
me of initia
al purchase
e, have a m
market
capitaliz
zation equa
al to or less
s than the largest com
mpany in tthe Russell 2000 Grow
wth
Index during the most
m
recen
nt 12-month period. T
The portfolio manager and research
s are then responsible
e for generrating idea s for the p
portfolio. In
nput can co
ome
analysts
from Wa
all St. rese
earch, third
d parties, trrade journa
als and pub
blications. The researrch
starts with
w
a carefful evaluation of finan
ncial statem
ments and SEC filings
s. Once the
ey
find an investment candidate
e, they the
en perform quantitativ
ve research to determ
mine
asonable compared tto its peer g
group and on historic
cal
whetherr a stock’s price is rea
and current bases. Eagle loo
oks for stoc
cks with the
e following
g characterristics:
ating and sustainable
s
earnings growth
g
rate
e, a positiv
ve catalyst such as a new
accelera
product, high or expanding return
r
on equity,
e
cred
dible and ccompetent manageme
ent
team wiith a compensation program tha
at encoura ges strong
g stock perfformance.
2
NEPC Investmen
nt Thesis:
m their exp
perienced tteam's adh
herence to their in-de
epth
Eagle's value add comes from
h process. Conducting extensive
e proprieta
ary researcch on comp
panies thatt are
research
not wide
ely followed or owned
d enables Eagle
E
to ca
apitalize on
n market in
nefficiencies
s
and thus outperform the index. Eagle generally
g
p
performs w
well in mostt economic
n momentu
um driven market. Ty
ypical track
king
environments but may underperform in
etween for the strateg
gy is 3%-6
6%.
error be
3
Eagle Asset Management, Inc.
March 31, 2015
Small Cap Growth Institutional
Profile: Product Summary
Status - Closed
Asset & Account Breakdown by Vehicle (Million) Displayed In US Dollar (USD)
Separate/Segregated
Assets
Accounts
Total
$
1,658.1
49
Pooled/Commingled
Assets
Accounts
$
0.0
Mutual Fund: Institutional
Assets
Accounts
0
$
0.0
Mutual Fund: Retail
Assets
Accounts
0
$
0.0
0
Assets & Account Information By Client Type (Million) Displayed In US Dollar (USD)
Total
Assets
Institutional
Assets
Accounts
Accounts
Taxable
Assets
Accounts
Tax-Exempt
Assets
Accounts
Total
$
1,658.1
49
$
1,658.1
49
$
287.4
6
$
1,370.7
43
Corporate
$
751.7
21
$
751.7
21
$
101.8
5
$
649.9
16
Superannuation
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Public Fund
(Government)
$
637.2
16
$
637.2
16
$
0.0
0
$
637.2
16
Union/Multi-Employer
$
31.8
3
$
31.8
3
$
0.0
0
$
31.8
3
Foundation & Endowment
(Charities)
$
51.7
8
$
51.7
8
$
0.0
0
$
51.7
8
Health Care
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Insurance
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
High Net Worth
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Wrap Accounts
(Broker-Dealer)
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Sub-Advised
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Supranationals
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Sovereign Wealth Funds
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Other*
$
185.6
1
$
185.6
1
$
185.6
1
$
0.0
0
Defined Contribution
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Product Contacts
Primary Contacts
Marketing Contact:
Don Pepin, Senior Vice President, Director of Institutional Sales
880 Carillon Parkway
33716, Florida 33716
Phone: 727.567.6561 | Fax: 727-567-8020
Email: [email protected]
Description:
Database Contact:
Greg Serota, Consultant Relations Analyst
880 Carillon Parkway
St. Petersburg, Florida 33716
Phone: 727.567.4693 | Fax:
Email: [email protected]
Description:
Assets By Account Size (Million) Displayed In US Dollar (USD)
Accounts By Size (Million) Displayed In US Dollar (USD)
Assets By Account Size
$
0.8
$
62.7
$
1,029.8
$
564.7
$
0.0
< 1 USD Million:
1 - 10 USD Million:
10 - 100 USD Million:
100 - 500 USD Million:
> 500 USD Million:
Accounts By Size
< 1 USD Million:
1 - 10 USD Million:
10 - 100 USD Million:
100 - 500 USD Million:
> 500 USD Million:
1
14
31
3
0
Largest Accounts By Size (Million) Displayed In US Dollar (USD)
Historical Year-End Assets (Million) Displayed In US Dollar (USD)
Account Type
1) Corporate
2) Public Fund
3) Public Fund
4) Public Fund
5) Public Fund
Account Size
$
213.5
$
185.6
$
165.6
$
96.3
$
75.9
Assets As Of
Year-End 2011
Year-End 2012
Year-End 2013
Year-End 2014
Total
Institutional Taxable Tax-Exempt
$1,290.5
$1,290.5
$252.3
$1,038.2
$1,586.2
$1,586.2
$299.7
$1,286.6
$1,949.4
$0.0
$87.1
$1,862.3
$1,604.8
$0.0
$273.2
$1,331.6
Assets & Accounts Gained/Lost Displayed In US Dollar (USD)
* Data prior to 2007 was collected on an annual rather than quarterly basis.
Assets
Gained
Lost
Net
Gained
Accounts
Lost
Net
11
2011
$
214.7
$
0.0
$
214.7
11
0
2012
$
136.2
$
23.8
$
112.4
6
3
3
2013
$
0.0
$
27.2
$
(27.2)
0
1
(1)
2014
$
0.8
$
217.7
$
(217.0)
1
10
(9)
First Quarter 2015
$
0.0
$
0.0
$
0.0
0
0
0
YTD 2015
$
0.0
$
0.0
$
0.0
0
0
0
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Assets By Geographic Region (Million) Displayed In US Dollar (USD)
United States
Canada
United Kingdom
Europe ex-UK
Japan
Australia
Hong Kong
Singapore
Other Asia ex-Japan
Africa/Middle East
Latin America
Other
$
$
$
$
$
$
$
$
$
$
$
$
Assets by Domicile
1,658.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Total
$
1,658.1
Accounts by Domicile
49
0
0
0
0
0
0
0
0
0
0
0
Total
$1,658.1 / 49
Canada
0.0 / 0
UK
0.0 / 0
United States
1,658.1 / 49
Europe ex-UK
0.0 / 0
Africa/
Middle
East
0.0 / 0
Japan
0.0 / 0
Hong
Kong
0.0 / 0
Latin America
0.0 / 0
Other Asia exJapan
0.0 / 0
Singapore
0.0 / 0
Australia
0.0 / 0
49
Other
0.0 / 0
Redemption Terms Displayed In US Dollar (USD)
Product Offered As: SA
Sliding
Account Availability:
Minimum Account Size ($ Million):
Minimum Annual Fee:
Fee Schedule Provided For:
Ticker Symbol (Mutual Fund Only):
Fund Name (Mutual Fund Only):
Fee Includes Custody:
Performance-based Fees Available:
"Most Favored Nation" Arrangements Avail:
Fees Negotiable:
Accepts ERISA Qualified Assets:
Accepts Non-ERISA Qualified Assets:
Liquidity on Purchases:
Liquidity on Sales:
Commingled Fund Type:
Redemption Fees Apply:
Up Front/Entry Fees:
Fund Subadvised/Distributed By Another Firm:
Subadvised or Distributed By:
Subadvised or Distributed By:
Subadvised or Distributed By:
Separate/Segregated Account
Closed
$2
$19,000
------No
No
No
Yes
-----------------------
Pooled/Commingled Fund
Not Available
---------------- -----------------------
Mutual Funds
Open
$2.50
$25,000
Institutional Class
HSIIX
Eagle Small Cap Growth Fund
No
No
-- ----------No
No
No
-------
Fee Disclosures
Fees are incremental and billed quarterly in arrears.
Fees do not include transaction costs or custody.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Product Fee Schedule
Sliding
Separate/Segregated Account
First $10 million at:
0.95%
Next $15 million at:
0.90%
Next $50 million at:
0.85%
Next $75 million at:
0.80%
Next --- million at:
--Next --- million at:
--Next --- million at:
--Balance Remaining at:
0.75%
All Assets@:
---
Pooled/Commingled Fund
First --- million at:
Next --- million at:
Next --- million at:
Next --- million at:
Next --- million at:
Next --- million at:
Next --- million at:
Balance Remaining at:
All Assets@:
-------------------
Mutual Funds
HSIIX
Eagle Small Cap Growth Fund
83 bps
Ticker:
Fund Name:
All Assets@:
Annual Fees by Accounts Size
Separate/Segregated
Account
$10 Million
$25 Million
$50 Million
$75 Million
$100 Million
$95,000
$230,000
$442,500
$655,000
$855,000
Pooled/Commingled
Account
95 bps
92 bps
89 bps
87 bps
86 bps
-----------
Mutual Funds
-----------
$83,000
$207,500
$415,000
$622,500
$830,000
83 bps
83 bps
83 bps
83 bps
83 bps
Product Team Description
Total Number
Avg. Years of Experience
Avg. Years at Firm
Portfolio Managers:
Research Analysts:
Traders:
Economists:
Client Service:
Marketing:
Risk Portfolio/Monitoring:
Compliance/Administration:
3
3
4
0
2
3
-----
28
18
19
0
14
24
-----
14
6
15
0
14
8
-----
Certificates/Designations/Degrees
CFA Charterholders:
MBAs:
PHDs:
5
5
0
Explanation of How Professionals are Categorized
Traders are part of centralized equity trading desk and are not devoted solely to a single program. Likewise, the marketing and client service
professionals service more than one product and are not devoted solely to the Small Cap Growth team.
Management Team Primary Location
City: St. Petersburg
State/Province: Florida
Country: United States
Professional Turnover
Portfolio Managers
Gained
Lost
Analysts
Gained
Traders
Gained
Lost
Lost
Marketing/Client Service
Gained
Lost
2011
0
0
1
0
0
0
0
0
2012
0
0
1
1
0
0
0
0
2013
0
0
0
0
0
0
0
0
2014
0
0
0
0
0
0
0
0
First Quarter 2015
0
0
0
0
0
0
0
0
YTD 2015
0
0
0
0
0
0
0
0
Professional
Sandeep Bhatia
Jay Daniel
Patrick Franke
Robert Hahn
Clay Lindsey
Scott Renner
Sameer Sabharwal
Title
CFA, Other, Senior Research Analyst
CFA, Sr. Research Analyst
Senior Research Analyst
CFA, Research Analyst
Portfolio Analyst & Communications Manager
Asst Portfolio Manager
CFA, Research Analyst
Equity Owner
--No
----No
No
No
Primary Role
---------------
Fund
Start Date
10/02/2006
03/01/2006
05/03/2004
--01/01/2000
01/01/2007
08/01/2008
Departure Date
03/31/2007
03/31/2012
09/30/2008
--05/01/2007
09/30/2008
09/30/2008
Reason For Departure
Resigned
Career Transition
----New Role w/in Firm
New Role With Firm
New Role With Firm
* Data prior to 2007 was collected on an annual rather than quarterly basis.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Investment Professionals Managing This Strategy
Professional
Andrew Adebonojo
Bert Boksen*
Adam Gallina
Eric Mintz
Chris Sassouni
Tariq Siddiqi
Title
CFA, Senior Research Analyst
CFA, Managing Director
CFA, Senior Research Analyst
CFA, Portfolio co-Manager
Senior Research Analayst
CFA, Senior Research Analyst
Start Year Industry
1992
1977
2000
1995
1989
2003
Primary Role
Equity Analyst
Portfolio Manager
Equity Analyst
Portfolio Manager
Portfolio Manager
Equity Analyst
Start Year Firm
2011
1995
2007
2005
2003
2012
Equity Owner
--No
---------
Fund
Start Date
11/14/2011
12/31/1994
07/01/2007
07/01/2005
09/21/2003
09/04/2012
* Denotes the Primary Professional for this Strategy.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Small Cap Growth Institutional
Profile: Product Narratives
Status - Closed
Investment Summary
Eagle's Small Cap Growth program employ a rigorous bottom-up stock selection technique designed to capitalize on profitable small-sized companies.
The Small Cap Growth program exhibits the following criteria:
• Team members screen for RGARP investment ideas in their sectors • Rigorous analysis of corporate filings, industry data and Wall Street research • Meet with management to build investment thesis • Write initial research report identifying key investment points and potential risk factors • Collaborate with portfolio managers for inclusion in the portfolio • Continuously monitor stocks in portfolio including monthly updates that identify potential positive or negative catalysts
Investment Philosophy
In this program we seek to capture the significant long-term capital appreciation potential of small, rapidly growing, under-researched companies. The market capitalization of these companies range within the market cap range of the Russell 2000 Index at the time of purchase. Since the small company sector historically has been less
efficient than the large capitalization sector, we believe that conducting extensive proprietary research on companies that are not widely followed or owned institutionally should enable Eagle to
capitalize on market inefficiencies and thus outperform the Russell 2000 Growth Index.
Research & Screening Process
In generating investment ideas, the team screens for the following factors: accelerating earnings growth; insider buying; strong management with insider ownership (greater than 10 percent);
and, high or expanding earnings growth (target 20 percent) [please note that not every stock purchased will meet all of these guidelines]. Companies must have market capitalizations within the
market cap range of the Russell 2000 Index, at the time of purchase.
Portfolio Construction & Risk Control Methodology
The Small Cap Growth strategy abides by a Rapid Growth at a Reasonable Price (RGARP) approach and generally adheres to the following portfolio construction characteristics:
• Average number of holdings: less than 100;
• Usually, initial position weights are between one and three percent;
• In general, we limit individual holdings to three percent or less;
• Market capitalization range within the market cap range of the Russell 2000 Index;
• Typically, industry weights are limited to 25 percent of the portfolio;
• In general, sector weightings range between plus or minus 10 percentage points of the benchmark weighting;
• Typically, we are fully invested, with cash levels at three percent or less.
Buy/Sell Discipline
In this program we seek to capture the significant long-term capital appreciation potential of small, rapidly growing, under-researched companies. In the Small Cap Growth program, the team generates the vast majority of its own research, but input from colleagues, Wall Street research, third parties, and industry contacts may also be
evaluated.
We conduct extensive fundamental research on potential holdings, carefully evaluating the financial statements and SEC filings of target companies. We focus on companies with compelling
growth drivers that have reasonable valuations.
As part of our proprietary research process, we also perform quantitative analysis to determine whether the stock’s price is reasonable compared to its peer group and on historical and current
bases. We will consider information from buy- and sell-side contacts, industry contacts, and other information available regarding a company and its management.
Through a bottom-up approach to stock selection, we choose stocks that feature many of the following characteristics:
Rapid growth, based upon quantitative and qualitative growth metrics
• Accelerating and sustainable earnings growth rate;
• Positive catalyst such as a new product, acquisition, divestiture, restructuring or change in the marketplace;
• Credible and competent management team with a compensation program that encourages strong stock performance.
Reasonable price
• Price/earnings ratio at a reasonable value relative to similarly positioned companies.
Eagle continually monitors the relative strength of holdings to identify potential problems. We believe that adhering to a strict sell discipline is a key component of successful investing. Therefore,
we would sell or trim a stock position if:
• The stock appreciates beyond what we consider to be a sustainable price level;
• There is a change in the original thesis that led us to purchase the stock;
• Company fundamentals deteriorate or significant change occurs in the competitive landscape;
• The position increases to more than five percent of the total portfolio;
• An industry weighting appreciates beyond 25 percent of the total portfolio.
Trading Strategy
Eagle's general policy regarding brokerage practices for institutional accounts which grant Eagle discretion as to brokerage is to use its best efforts to obtain the best available price and most
favorable execution with respect to all portfolio transactions executed on behalf of its clients. "Best available price and most favorable execution" is defined to mean the execution of a particular
transaction at the price and commission which provides the most favorable cost or proceeds reasonably obtainable under the circumstances. However, Eagle may pay higher (i.e., more than the lowest available commission rate) commissions in return for brokerage and research services. In selecting brokers and dealers to execute
clients' portfolio transactions, Eagle considers such factors as the price of the security, the rate of the commission, the size and difficulty of the order, the reliability, integrity, financial condition,
general execution and operational capabilities of competing brokers and dealers, and brokerage and research services provided by them. It is not the policy of Eagle to seek the lowest available
commission rate where it is believed that a broker or dealer charging a higher commission rate would offer greater reliability or provide better price or execution. Eagle also uses ECNs’ crossing
networks, and algorithmic trading programs when selecting brokers for institutional accounts.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Additional Comments
Eagle’s Small Cap Growth investment philosophy is distinct in that it follows a common-sense approach based on fundamental analysis. The philosophy was developed by a portfolio manager with
over 30 years of experience following small and mid cap securities on both the buy and sell side. He is supported by a skilled portfolio co-manager and an experienced team of research analysts.
The investment process relies primarily upon internally-generated fundamental research and a deep understanding of the underlying fundamentals of companies, a process which also includes
meeting with the management teams of companies under consideration. A number of proprietary mechanisms are used to monitor companies in the portfolio, which enable us to be aware of
market opportunities and market pitfalls. This research-driven, market-savvy investment approach has enabled us to generate superior risk-adjusted and absolute returns over the long-term.
In building Small Cap Growth portfolios, we endeavor to avoid disappointments by not overpaying for perceived future growth. Once a name is in the portfolio, we conduct diligent (and frequent)
reviews to make sure the company is performing in line with our expectations and its peers. This market-savvy investment approach greatly enhances the security selection process and has
enabled us to generate superior risk-adjusted and absolute returns over the long-term.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Small Cap Growth Institutional
Profile: Characteristics
Status - Closed
Product Profile Fields
Portfolio Management Strategy
Asset Class
Investment Focus
Geographic Focus
Preferred Benchmark
Primary Investment Approach
Primary Screening Approach
Primary Equity Capitalization
Primary Equity Style Emphasis
Secondary Equity Style Emphasis
Product Inception Date
Fund Structure
Active
Equity
Long Only
United States
Russell 2000 Growth
Fundamental
Bottom-Up
Small Cap
Growth
GARP
01/01/1994
Direct Investment
Fundamental Characteristics
Data Source of Characteristics
Current Dividend Yield
Current P/E (12-mo Trailing)
Current P/E (12-mo Forward)
Current P/B
Current P/S (12-mo Trailing)
Current P/CF (12-mo Trailing)
5 Year ROE
Earnings Growth (Past 5 Yrs)
Earnings Growth (Next 5 Yrs)
Foreign Securities, Currency Hedging & Emg Market Exp.
Target/Typical
95
5.00
-----
3 Yr. High
100
5.00
Historical
High
5.0%
0.0%
0.0%
3 Year
Avg.
2.5%
0.0%
0.0%
0.0%
0.0%
Weighted Avg. Mkt Cap (Mil)
Median Market Cap (Mil)
Market Cap at Purchase (Mil)
Market Cap at Sale (Mil)
Policy Limits
$3,049
$2,668
Upper Bound
-----
Lower Bound
-----
Estimated Value Added
Guidelines
Yes
Yes
Yes
Yes
No
No
Maximum
5.0
5.0
10.0
25.0
100.0
---
Country/Region Selection
Sector Selection
Security Selection
Factor/ Style Tilts
Trading/Execution
Currency Management
Other Sources
Total
How Established
Absolute
Index-Relative
Absolute
-----
0.00%
10.00%
90.00%
0.00%
0.00%
0.00%
0.00%
100.0%
% of Portfolio In Cap Range (Entered in USD)
> $50 Billion
$15-50 Billion
$7.5-15 Billion
$1.5-7.5 Billion
$750-1.5 Billion
$400-750 Million
< $400 Million
Total
3 Yr. Low
60
0.50
Market Capitalization Displayed In US Dollar (USD)
Max
Current Allowed
Foreign Securities Utilized
Yes
% in Depositary Receipts
--10.0%
% in Foreign Ordinary Shares
--0.0%
% in Emerging Markets
--0.0%
% Hedged Back to Local
--0.0%
Currency
Approach Towards Currency
Not
Hedging
Used
Portfolio Holdings
Cash
Excess Return
Tracking Error
FactSet
0.39%
23.17x
22.55x
3.35x
1.88x
15.00x
10.71%
22.62%
19.33%
2.4%
Functional - For Cash Flows
99
14.02%
----41.40%
82.46%
Historical Ranges and Targets
Current Cash Position
Use Of Cash
Current Number Of Holdings
% Holdings In 10 Largest Stocks
# Of Countries in Portfolio
Annual Activity (LTM)
Annual Turnover (LTM)
Active Share
Max Cash Position
Max Position Size
Max Sector Exposure
Max Industry Exposure
Max Country Exposure
Max Regional Allocation
Strategy Snapshot
0.00%
0.00%
7.88%
67.03%
18.44%
3.47%
3.18%
100.0%
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Small Cap Growth Institutional
Profile: Allocations
Status - Closed
S&P/MSCI Global Industry Classification Standard
Consumer Discretionary
Consumer Staples
Energy
Financials
Healthcare
Industrials
Information Technology
Materials
Telecom Services
Utilities
Other
Total
% Weight*
16.13%
4.42%
2.88%
7.44%
27.70%
12.81%
23.55%
5.09%
------100.0%
*Values displayed are ex-cash
Russell Global Sectors
Technology
Healthcare
Consumer Discretionary
Consumer Staples
Producer Durables
Materials & Processing
Financials
Energy
Utilities
Total
% Weight*
------------------0.0%
*Values displayed are ex-cash
Country & Currency Allocations
North America
United States (Dollars)
Canada (Dollars)
United Kingdom
United Kingdom (Pounds)
Euroland(EU) Countries
Austria (Euro)
Belgium (Euro)
Finland (Euro)
France (Euro)
Germany (Euro)
Ireland (Euro)
Italy (Euro)
Luxembourg (Euro)
Netherlands (Euro)
Portugal (Euro)
Spain (Euro)
Euro (Currency Only)
Non-Euroland(EU) Countries
Denmark (Kroner)
Norway (Kroner)
Sweden (Krona)
Switzerland (Francs)
Far East & Australasia
Australia (Dollars)
Hong Kong (Dollars)
Japan (Yen)
New Zealand (Dollars)
Singapore (Dollars)
Other
Iceland (Krónas)
Israel (New Shekel)
Developed Markets
Emerging Markets (Various Countries)
Total
Country
0.00%
----0.00%
--0.00%
---------------------- 0.00%
--------0.00%
----------0.00%
--------0.0%
Currency
---- -- -- -------- ---------- --------0.0%
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Small Cap Growth Institutional
Profile: Derivatives & Social Screens
Status - Closed
Use Of Derivatives
Derivatives Used in Managing This Product: No
Environmental/Social/Governance Screening
Responsible Investing
Product can be managed with an Environmental/Social/Governance Investing consideration: Yes
Product currently managed with an Environmental/Social/Governance Investment consideration: No
Screening Types
Negative Screening (excluding securities based on perceived harm to society) available: --Positive Screening (excluding securities based on perceived harm to society) available: --Shareholder Engagement: (excluding securities based on perceived harm to society) through proxy votes and shareholder resolutions available: --Research methodologies are utilized: Proprietary Research (In-House) utilized: No
Third Party Research utilized: No
Application of screens can be weighted according to client preferences: --Organization is a signatory to the UN Principles for Responsible Investment: --Product can be customized to meet the requirements of an "Economically Targeted Investment" (ETI) Program: --Product can be customized to meet the requirements of a "Mission Related Investment" (MRI) Program: ---
Screens Applied:
Environment: None Selected
Social Issues: None Selected
Community Development: None Selected
Corporate Governance: None Selected
Religion: None Selected
Additional Comments
Eagle will employ social screening at the request of the client. Our portfolio management and research software tools allow us to screen for and exclude allocations of specific securities, types of
securities, or industries from restricted accounts.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Small Cap Growth Institutional
Profile: Portfolio Holdings
Status - Closed
Holdings Comparison
Currency: US Dollar
Vehicle Type: Default Vehicle
Total Market Value: $1,639,307,740
Number of Holdings: 99 As of 3/2015
Identifier
Identifier Type
Country
37364X109 CUSIP
United States
667746101
44244K109
16115Q308
00972D105
29251M106
584045108
421924309
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
United States
United States
United States
United States
United States
United States
United States
699462107 CUSIP
United States
577933104 CUSIP
74758T303 CUSIP
985817105 CUSIP
202608105 CUSIP
74973W107 CUSIP
M85548101 CUSIP
835898107 CUSIP
15117E107 CUSIP
58471A105 CUSIP
36162J106 CUSIP
695127100 CUSIP
515098101 CUSIP
737010108 CUSIP
74587V107 CUSIP
00484M106 CUSIP
039670104 CUSIP
25278X109 CUSIP
98933Q108 CUSIP
252131107 CUSIP
21925Y103 CUSIP
30066A105 CUSIP
48666K109 CUSIP
600544100 CUSIP
562750109 CUSIP
045327103 CUSIP
683745103 CUSIP
147528103 CUSIP
16934W106 CUSIP
464330109 CUSIP
87159A103 CUSIP
64125C109 CUSIP
922280102 CUSIP
009128307 CUSIP
94770V102 CUSIP
92719W108 CUSIP
194014106 CUSIP
428291108 CUSIP
117043109 CUSIP
31787A507 CUSIP
980745103 CUSIP
69354N106 CUSIP
402635304 CUSIP
762760106 CUSIP
98954M101 CUSIP
82966C103 CUSIP
75606N109 CUSIP
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
United States
109194100 CUSIP
United States
00404A109 CUSIP
69370C100 CUSIP
859152100 CUSIP
United States
United States
United States
751198102 CUSIP
United States
25456K101
89969Q104
922417100
032420101
037598109
885175307
756207106
192479103
87817A107
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
United States
United States
United States
United States
United States
United States
United States
United States
United States
22410J106 CUSIP
United States
911163103
119848109
640491106
43739Q100
447462102
74736K101
92849E101
84760C107
United States
United States
United States
United States
United States
United States
United States
United States
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
CUSIP
As of 12/2014
Name
Geospace Technologies
Corporation
Northwest Pipe Company
Houston Wire & Cable Company
Chart Industries, Inc.
Akebia Therapeutics, Inc.
Enanta Pharmaceuticals, Inc.
MedAssets, Inc.,
HealthSouth Corporation
PAREXEL International
Corporation
MAXIMUS, Inc.
Qualys, Inc.
Yelp Inc. Class A
Commercial Vehicle Group, Inc.
RTI International Metals, Inc.
Stratasys Ltd.
Sotheby's Class A
Celladon Corporation
Medidata Solutions, Inc.
GEO Group Inc
Pacira Pharmaceuticals, Inc.
Landstar System, Inc.
Portola Pharmaceuticals, Inc.
Puma Biotechnology, Inc.
Acorda Therapeutics, Inc.
Arctic Cat Inc.
Diamondback Energy, Inc.
ZELTIQ Aesthetics, Inc.
DexCom, Inc.
Cornerstone Ondemand, Inc.
ExamWorks Group, Inc.
KB Home
Herman Miller, Inc.
Manhattan Associates, Inc.
Aspen Technology, Inc.
Ophthotech Corp.
Casey's General Stores, Inc.
Chimerix, Inc.
Isis Pharmaceuticals, Inc.
Synageva BioPharma Corp.
Neurocrine Biosciences, Inc.
Varonis Systems, Inc.
Air Methods Corporation
WebMD Health Corp.
Vince Holding Corp.
Colfax Corporation
Hexcel Corporation
Brunswick Corporation
Finisar Corporation
WOODWARD, INC.
PRA Group Inc
Gulfport Energy Corporation
Rice Energy Inc.
Zillow Group Inc Class A
Sirona Dental Systems, Inc.
RealPage, Inc.
Bright Horizons Family Solutions,
Inc.
Acadia Healthcare Company, Inc.
PTC Inc.
STERIS Corporation
Rally Software Development
Corp.
Diplomat Pharmacy, Inc.
Tumi Holdings, Inc.
Veeco Instruments Inc.
Anacor Pharmaceuticals, Inc.
Apogee Enterprises, Inc.
Thoratec Corporation
Receptos, Inc.
Coherent, Inc.
Team Health Holdings, Inc.
Cracker Barrel Old Country Store,
Inc.
United Natural Foods, Inc.
Buffalo Wild Wings, Inc.
Neogen Corporation
Homeaway, Inc.
Huron Consulting Group Inc.
Qorvo Inc
Vitamin Shoppe, Inc.
Spectranetics Corporation
Shares
Price Weight Identifier
Shares Weight
303,200
$16.51
0.31 %
Δ Shares
3,165
Δ Weight
-0.19 %
37364X109
300,035 0.50 %
275,996
687,134
204,690
697,753
256,449
423,738
183,146
$22.95
$9.73
$35.08
$11.11
$30.62
$18.82
$44.36
0.39 %
0.41 %
0.44 %
0.47 %
0.48 %
0.49 %
0.50 %
723
25,237
4,010
15,289
68,734
(255,140)
183,146
-0.13 %
-0.09 %
0.01 %
-0.03 %
-0.12 %
-0.36 %
0.50 %
667746101
44244K109
16115Q308
00972D105
29251M106
584045108
275,273
661,897
200,680
682,464
187,715
678,878
---
0.52 %
0.50 %
0.43 %
0.50 %
0.60 %
0.85 %
---
118,427
$68.99
0.50 %
118,427
0.50 %
---
---
125,013
178,732
178,740
1,344,351
246,484
168,805
227,654
515,370
203,371
231,105
115,264
158,217
278,717
45,463
338,833
314,331
151,090
376,070
189,552
416,398
285,882
761,259
433,195
239,732
318,304
263,911
140,322
338,174
199,773
131,101
328,794
511,914
283,955
304,222
723,239
288,769
269,304
275,410
658,298
279,963
268,167
320,632
676,132
149,119
166,821
757,607
$66.76
$46.48
$47.35
$6.44
$35.91
$52.78
$42.26
$18.94
$49.04
$43.74
$88.85
$66.30
$37.96
$236.11
$33.28
$36.32
$76.84
$30.83
$62.34
$28.89
$41.62
$15.62
$27.76
$50.61
$38.49
$46.53
$90.10
$37.69
$63.67
$97.53
$39.71
$25.66
$46.59
$43.84
$18.55
$47.73
$51.42
$51.45
$21.34
$51.01
$54.32
$45.91
$21.76
$100.30
$89.99
$20.14
0.51 %
0.51 %
0.52 %
0.53 %
0.54 %
0.54 %
0.59 %
0.60 %
0.61 %
0.62 %
0.62 %
0.64 %
0.65 %
0.65 %
0.69 %
0.70 %
0.71 %
0.71 %
0.72 %
0.73 %
0.73 %
0.73 %
0.73 %
0.74 %
0.75 %
0.75 %
0.77 %
0.78 %
0.78 %
0.78 %
0.80 %
0.80 %
0.81 %
0.81 %
0.82 %
0.84 %
0.84 %
0.86 %
0.86 %
0.87 %
0.89 %
0.90 %
0.90 %
0.91 %
0.92 %
0.93 %
125,013
178,732
178,740
45,775
(374,058)
168,805
2,548
21,430
0
2,130
245
375
77
(138)
905
13,533
265
376,070
189,552
1,153
1,964
9,873
(114,923)
9,220
(50,895)
19,948
140,322
29,875
(83,154)
141
328,794
14,956
(59,678)
5,466
200,230
(803)
1,313
120,615
658,298
(1,225)
4,721
2,223
14,325
149,119
(531)
12,363
0.51 %
0.51 %
0.52 %
-0.02 %
-0.45 %
0.54 %
-0.02 %
-0.01 %
0.00 %
0.04 %
-0.02 %
-0.08 %
0.15 %
0.11 %
-0.18 %
0.03 %
0.14 %
0.71 %
0.72 %
-0.19 %
-0.01 %
-0.05 %
-0.29 %
0.15 %
-0.06 %
0.06 %
0.77 %
0.00 %
-0.32 %
0.01 %
0.80 %
-0.23 %
-0.14 %
0.07 %
-0.04 %
-0.10 %
0.14 %
0.36 %
0.86 %
0.00 %
-0.07 %
0.06 %
0.03 %
0.91 %
0.00 %
-0.10 %
-- -- --202608105 1,298,576
74973W107 620,542
--835898107 225,106
15117E107 493,940
58471A105 203,371
36162J106
228,975
695127100 115,019
515098101 157,842
737010108 278,640
74587V107
45,601
00484M106 337,928
039670104 300,798
25278X109 150,825
-- --21925Y103 415,245
30066A105 283,918
48666K109 751,386
600544100 548,118
562750109 230,512
045327103 369,199
683745103 243,963
--16934W106 308,299
464330109 282,927
87159A103 130,960
--922280102 496,958
009128307 343,633
94770V102 298,756
92719W108 523,009
194014106 289,572
428291108 267,991
117043109 154,795
--980745103 281,188
69354N106 263,446
402635304 318,409
762760106 661,807
--82966C103 167,352
75606N109 745,244
------0.55 %
0.99 %
--0.61 %
0.61 %
0.61 %
0.58 %
0.64 %
0.72 %
0.50 %
0.54 %
0.87 %
0.67 %
0.57 %
----0.92 %
0.74 %
0.78 %
1.02 %
0.59 %
0.81 %
0.69 %
--0.78 %
1.10 %
0.77 %
--1.03 %
0.95 %
0.74 %
0.86 %
0.94 %
0.70 %
0.50 %
--0.87 %
0.96 %
0.84 %
0.87 %
--0.92 %
1.03 %
300,831
$51.27
0.94 %
5,998
0.07 %
109194100
294,833 0.87 %
225,615
449,014
231,357
$71.60
$36.17
$70.27
0.99 %
0.99 %
0.99 %
50,585
87,080
26,940
0.31 %
0.15 %
0.15 %
00404A109
69370C100
859152100
175,030 0.68 %
361,934 0.84 %
204,417 0.84 %
1,046,255
$15.69
1.00 %
89,756
0.31 %
751198102
956,499 0.69 %
494,214
697,545
559,128
296,839
402,060
431,332
113,653
291,310
325,074
$34.58
$24.46
$30.55
$57.85
$43.20
$41.89
$164.89
$64.96
$58.51
1.04 %
1.04 %
1.04 %
1.05 %
1.06 %
1.10 %
1.14 %
1.15 %
1.16 %
494,214
100,763
54,756
30,581
(129,143)
171,881
(25,614)
3,941
(880)
1.04 %
0.15 %
-0.07 %
0.51 %
-0.36 %
0.57 %
0.06 %
0.05 %
-0.02 %
89969Q104
922417100
032420101
037598109
885175307
756207106
192479103
87817A107
--596,782
504,372
266,258
531,203
259,451
139,267
287,369
325,954
126,346
$152.14
1.17 %
174
0.05 %
22410J106
126,172 1.12 %
247,972
108,128
421,559
657,638
310,307
256,372
505,067
603,871
$77.04
$181.24
$46.73
$30.17
$66.15
$79.70
$41.19
$34.76
1.17 %
1.20 %
1.20 %
1.21 %
1.25 %
1.25 %
1.27 %
1.28 %
1,243
(772)
220
(91,190)
289
2,151
(1,353)
23,788
-0.03 %
-0.04 %
-0.12 %
-0.20 %
-0.09 %
0.19 %
-0.28 %
0.02 %
911163103
119848109
640491106
43739Q100
447462102
74736K101
92849E101
84760C107
246,729
108,900
421,339
748,828
310,018
254,221
506,420
580,083
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
--0.89 %
1.11 %
0.54 %
1.42 %
0.53 %
1.08 %
1.10 %
1.18 %
1.20 %
1.24 %
1.32 %
1.41 %
1.34 %
1.06 %
1.55 %
1.26 %
Eagle Asset Management, Inc.
Identifier
40418F108
192422103
40171V100
833551104
941053100
500643200
90385D107
G1154H107
87161C501
552848103
860630102
639050103
91879Q109
913483103
371532102
477143101
45321L100
14964U108
747316107
CASH
573284106
15135B101
Identifier
Type
Country
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CUSIP
United States
CASH
United States
CUSIP
United States
CUSIP
United States
Name
HFF, Inc. Class A
Cognex Corporation
Guidewire Software, Inc.
Snyder's-Lance, Inc.
Waste Connections, Inc.
Korn/Ferry International
Ultimate Software Group, Inc.
Belmond Ltd. Class A
Synovus Financial Corp.
MGIC Investment Corporation
Stifel Financial Corp.
Natus Medical Incorporated
Vail Resorts, Inc.
Universal Electronics Inc.
Genesco Inc.
JetBlue Airways Corporation
Imperva, Inc.
Cavium, Inc.
Quaker Chemical Corporation
U.S. Dollar
Martin Marietta Materials, Inc.
Centene Corporation
March 31, 2015
Shares
565,636
439,361
413,996
683,900
453,813
701,860
135,820
1,941,786
860,463
2,550,361
440,651
627,832
250,190
485,382
398,853
1,502,903
695,445
431,189
388,264
38,486,564
281,121
606,990
Price Weight Δ Shares Δ Weight
$37.54
1.30 %
13,593
0.05 %
$49.59
1.33 %
682
0.19 %
$52.61
1.33 %
(20)
0.01 %
$31.96
1.33 %
5,774
0.02 %
$48.14
1.33 %
(2,499)
0.06 %
$32.87
1.41 %
(286)
0.14 %
$169.96
1.41 %
1,167
0.16 %
$12.28
1.45 %
11,836
-0.05 %
$28.01
1.47 %
24,248
0.04 %
$9.63
1.50 %
67,016
0.04 %
$55.75
1.50 %
(31,336)
-0.02 %
$39.47
1.51 %
(594,631)
-1.27 %
$103.42
1.58 %
3,104
0.16 %
$56.44
1.67 %
(667)
-0.32 %
$71.23
1.73 %
(1,376)
-0.20 %
$19.25
1.76 %
(412)
0.26 %
$42.70
1.81 %
3,117
-0.35 %
$70.82
1.86 %
356
0.18 %
$85.64
2.03 %
(1,768)
-0.23 %
$1.00
2.35 % 28,732,404
1.74 %
$139.80
2.40 %
(1,623)
0.43 %
$70.69
2.62 %
304,528
0.64 %
Identifier
40418F108
192422103
40171V100
833551104
941053100
500643200
90385D107
G1154H107
87161C501
552848103
860630102
639050103
91879Q109
913483103
371532102
477143101
45321L100
14964U108
747316107
CASH
573284106
15135B101
Shares Weight
552,043 1.25 %
438,679 1.14 %
414,016 1.32 %
678,126 1.31 %
456,312 1.27 %
702,146 1.27 %
134,653 1.25 %
1,929,950 1.50 %
836,215 1.43 %
2,483,345 1.46 %
471,987 1.52 %
1,222,463 2.78 %
247,086 1.42 %
486,049 1.99 %
400,229 1.93 %
1,503,315 1.50 %
692,328 2.16 %
430,833 1.68 %
390,032 2.26 %
9,754,160 0.61 %
282,744 1.97 %
302,462 1.98 %
Securites Sold
Name
Air Methods Corporation
Apogee Enterprises Inc
Aruba Networks Inc
Aspen Technology Inc
Benefitfocus Inc
Boston Beer Co Inc
Buffalo Wild Wings
Cti Biopharma Corp
Colfax Corporation
Cyberonics Inc
Electronics For Imaging
Genesco Inc
Guidewire Software Inc
Homeaway Inc
Isis Pharmaceutical
JetBlue Airways Corporation
Korn-ferry International
Martin Marietta Materials Inc
Medassets Inc
Herman Miller Inc
Nps Pharmaceuticals Inc
Natus Medical Inc
Pantry Inc
Puma Biotechnology Inc
Quaker Chemical Corp
Rti International Metals Inc
Receptos Inc
Seattle Genetics Inc
Sirona Dental Systems Inc
Stifel Financial Corp
Sunedison Inc
Team Health Holdings Inc
Trulia Inc
Universal Electronics Inc
Vitamin Shoppe Inc
Waste Connections Inc
Woodward Inc
Home Loan Servicing Solutions Ltd
Allot Communications Ltd
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Shares
59,678
129,143
669,744
50,895
343,573
68,551
772
3,604,653
803
150,290
172,106
1,376
20
91,190
83,154
412
286
1,623
255,140
114,923
326,614
594,631
654,825
138
1,768
374,058
25,614
244,771
531
31,336
628,744
880
335,244
667
1,353
2,499
1,225
643,172
686,630
Weight
0.14 %
0.36 %
0.77 %
0.06 %
0.71 %
1.25 %
0.04 %
0.54 %
0.10 %
0.53 %
0.46 %
0.20 %
-0.01 %
0.20 %
0.32 %
-0.26 %
-0.14 %
-0.43 %
0.36 %
0.29 %
0.74 %
1.27 %
1.53 %
-0.11 %
0.23 %
0.45 %
-0.06 %
0.50 %
0.00 %
0.02 %
0.77 %
0.02 %
0.97 %
0.32 %
0.28 %
-0.06 %
0.00 %
0.79 %
0.40 %
Eagle Asset Management, Inc.
March 31, 2015
Small Cap Growth Institutional
Profile: Documentation
Status - Closed
Fund/Product Documentation
Fund Prospectus:
Please View Document(s) In Analytics
Subscription Agreements:
Private Placement Memorandum:
Third Party Due Diligence Reports:
Document(s) not available in PDF Format
Third Party Relationships
Name of Auditors for Fund/Product:
Pricewaterhouse Coopers
Name of Prime Brokers for Fund/Product:
---
Name of Administrators for Fund/Product:
---
Name of Custodians for Fund/Product:
---
Name of Legal Advisors for Fund/Product:
---
Third Party Distribution Arrangements:
---
Security of assets & Securities lending practices
Assets held in the name of fund or client?
---
Can the custodian transfer assets to sub-custodians?
---
Do the terms of the fund allow for securities lending?
---
Details of the policy for monitoring counterparty exposure
with respect to the firm's lending activity:
Details of the collateral terms, including collateral levels(margins/haircuts),
assets types and general guidelines:
Details of any changes made to these terms and guidelines
over the last 12 months:
Is cash collateral accepted?
---
Is lending activity indemnified by the Investment Manager/Agent/Other
Third-Party/Insurance Policy or is the activity conducted on an un-indemnified basis?
---
Details on how the revenue generated from the firm's securities lending
activities is distributed between the firm, lending agent and the pooled fund:
Additional Documentation
Side Letters in place with clients?
---
Key Man clauses in place for key executive/investment professionals?
---
Has firm complied with the terms of its fund mandates over the last 12 months?
---
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Small Cap Growth Institutional
Profile: Performance Tables
Status - Closed
Performance Analysis Displayed In US Dollar (USD)
Trailing Periods
Product
Benchmark
Excess Returns
Calendar Years
MRQ
YTD
1 Yr
3 Yr
5 Yr
7 Yr
10 Yr
SI
3.49
6.63
-3.14
3.49
6.63
-3.14
10.12
12.06
-1.94
14.70
17.74
-3.04
16.60
16.58
0.02
12.99
11.90
1.09
11.88
10.02
1.86
13.37
7.55
5.82
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
6.44
5.60
0.84
35.82
43.30
-7.48
18.27
14.59
3.68
-2.39
-2.91
0.52
34.39
29.09
5.30
39.94
34.47
5.47
-36.20
-38.54
2.34
12.59
7.05
5.55
21.42
13.35
8.08
3.53
4.15
-0.63
Risk & Risk Free Index: Russell 2000 Growth, Citigroup 3-Month T-Bill; Data Frequency: Monthly; Vehicle Type: USA - SA - Composite - Eagle Small Cap Growth Institutional-Gross of Fees
Risk & Regression Analysis Displayed In US Dollar (USD)
Trailing Periods
Calendar Years
1 Yr
3 Yr
5 Yr
7 Yr
10 Yr
SI
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
Standard Deviation
Correlation Coefficient
(r)
R-Squared (R2 )
15.68
13.79
17.60
21.78
19.90
21.39
15.31
10.46
15.69
23.34
22.85
25.83
30.93
11.97
13.92
16.71
0.97
0.96
0.98
0.98
0.97
0.92
0.97
0.95
0.96
0.98
0.99
0.98
0.99
0.84
0.94
0.95
0.94
0.93
0.95
0.96
0.94
0.84
0.95
0.91
0.91
0.96
0.98
0.96
0.98
0.70
0.88
0.91
Annualized Alpha
Jensen Alpha
Beta
Max Drawdown
-0.75
-0.76
0.91
5.17
-1.62
-1.62
0.94
11.75
0.98
0.97
0.94
23.77
1.37
1.36
0.97
47.03
2.17
2.11
0.96
49.88
6.58
6.17
0.86
49.88
1.18
1.18
0.92
8.11
-1.32
-1.32
0.89
1.48
2.33
2.33
1.08
11.75
0.33
0.32
0.94
23.77
5.71
5.70
0.94
11.17
5.45
5.44
0.96
17.85
4.97
5.01
1.02
39.99
6.62
5.72
0.82
6.62
9.64
8.70
0.81
9.72
-0.49
-0.48
1.00
11.45
Risk & Risk Free Index: Russell 2000 Growth, Citigroup 3-Month T-Bill; Data Frequency: Monthly; Vehicle Type: USA - SA - Composite - Eagle Small Cap Growth Institutional-Gross of Fees
Efficiency Measures Displayed In US Dollar (USD)
Trailing Periods
Sharpe Ratio
Treynor Ratio
Sortino Ratio
Calmar Ratio
Tracking Error
Information Ratio
Upside Market
Capture
Upside Market Return
Batting Average
Downside Market
Capture
Downside Market
Return
Calendar Years
1 Yr
3 Yr
5 Yr
7 Yr
10 Yr
SI
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
0.64
11.12
1.15
1.96
4.15
-0.47
1.06
15.60
1.82
1.25
3.86
-0.79
0.94
17.64
1.61
0.70
4.07
0.01
0.59
13.18
0.86
0.28
4.18
0.26
0.53
10.95
0.77
0.24
4.75
0.39
0.50
12.37
0.74
0.27
9.13
0.64
0.42
6.94
0.74
0.79
3.72
0.22
3.42
40.42
21.08
24.21
3.41
-2.19
1.16
16.85
1.80
1.55
4.74
0.78
-0.11
-2.62
-0.16
-0.10
4.84
0.11
1.50
36.46
2.96
3.08
3.24
1.64
1.54
41.47
2.81
2.24
4.98
1.10
-1.23
-37.17
-1.27
-0.91
4.62
0.51
0.66
9.61
1.00
1.90
6.91
0.80
1.20
20.45
2.48
2.20
5.73
1.41
0.03
0.52
0.05
0.31
4.98
-0.13
86.59
88.32
95.33
99.65
98.40
97.69
91.22
81.19
119.74
91.86
105.13
106.80
109.84
86.74
99.49
106.78
50.68
0.42
52.78
0.47
72.38
0.53
80.92
0.54
71.32
0.58
77.32
0.58
52.98
0.50
55.80
0.42
61.37
0.75
118.74
0.50
122.37
0.67
117.53
0.50
70.05
0.50
30.66
0.75
56.46
0.75
67.21
0.75
93.57
98.55
94.67
97.03
93.19
84.14
89.94
81.91
106.53
94.50
94.18
96.95
98.33
49.62
53.06
107.42
-41.18
-30.92
-35.13
-47.42
-40.96 -42.05
-35.95
-10.00
-36.47
-34.79
-50.92
-62.74
-68.32
-16.40
-14.86
-35.90
Risk & Risk Free Index: Russell 2000 Growth, Citigroup 3-Month T-Bill; Data Frequency: Monthly; Vehicle Type: USA - SA - Composite - Eagle Small Cap Growth Institutional-Gross of Fees
Additional Performance Statistics
First Return Observation:
1/1994
Total # of Months Above Index:
149
Last Return Observation:
3/2015
Total # of Months Below Index:
106
Average Return:
1.24
Longest # of Consecutive Months Above Index:
10
Average Positive Return:
5.17
Longest # of Consecutive Months Below Index:
9
Average Negative Return:
-5.04
Risk & Risk Free Index: Russell 2000 Growth, Citigroup 3-Month T-Bill; Data Frequency: Monthly; Vehicle Type: USA - SA - Composite - Eagle Small Cap Growth Institutional-Gross of Fees
Correlation Coefficient - 3 Years Displayed In US Dollar (USD)
1 - S&P 500
2 - Russell 2000
3 - Barclays US Aggregate
4 - MSCI EAFE-ND
5 - Citigroup WGBI Unhedged
6 - Wilshire 5000 (Full Cap)
7 - MSCI ACWI-ND
8 - MSCI EM-ND
9 - Small Cap Growth Institutional
Data Frequency: Monthly, Vehicle Type: USA - SA - Composite Eagle Small Cap Growth Institutional-Gross
1
1.000
0.823
-0.176
0.778
0.176
0.992
0.922
0.648
0.787
2
0.823
1.000
-0.188
0.623
0.160
0.877
0.754
0.529
0.944
.999 to 0.800
3
-0.176
-0.188
1.000
0.006
0.624
-0.172
-0.054
0.154
-0.241
4
0.778
0.623
0.006
1.000
0.379
0.787
0.952
0.811
0.615
5
0.176
0.160
0.624
0.379
1.000
0.196
0.340
0.432
0.130
6
0.992
0.877
-0.172
0.787
0.196
1.000
0.923
0.646
0.847
7
0.922
0.754
-0.054
0.952
0.340
0.923
1.000
0.835
0.731
8
0.648
0.529
0.154
0.811
0.432
0.646
0.835
1.000
0.481
9
0.787
0.944
-0.241
0.615
0.130
0.847
0.731
0.481
1.000
0.799 to 0.600 0.599 to 0.400 0.399 to 0.200 0.199 to 0.000 -0.001 to -0.199 -0.200 to -0.399 -0.400 to -0.599 -0.600 to -0.799 -0.800 to -1.000 eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Small Cap Growth Institutional
Profile: Vehicles & Disclosures
Status - Closed
Vehicle Availability
Country of Registration
United States
Vehicle/Contract Category
Vehicle Structure
Vehicle Name
Vehicle Identifier
Separate/Segregated Account
Composite
Eagle Small Cap Growth Institutional
SMLGRO Inst
Eagle Small Cap Growth Institutional
Country of Registration:
United States
Contract Type:
---
Vehicle/Contract Category:
Separate/Segregated Account
Capital Structure:
---
Legal Vehicle Structure:
Composite
Fund Tenure:
---
Base Currency:
US Dollar (USD)
Vehicle Org Structure:
---
Legal Vehicle Name:
Eagle Small Cap Growth Institutional Vehicle Hedged?
No
Identifier Type:
---
Default Vehicle for this product?
Yes
Vehicle Identifier:
SMLGRO Inst
ERISA Acceptance:
Share Class Category:
---
Is Fund UCITs Compliant?
---
At what level?
---
Share Class:
Vehicle Status:
Closed
Inactive/Closed Date:
4/03/2011
Inception Date:
1/01/1994
Vehicle Description: -- Performance Disclosure Displayed In US Dollar (USD)
Performance For: USA - SA - Composite - Eagle Small Cap Growth Institutional - Gross of Fees Composite Includes Terminated Accounts
Composite Includes Performance from Prior Firm
Composite Includes Simulated Results
# of Months Managed Before Eligible for Inclusion
Portfolio Weighting Method
Rate of Return Weighting Method
Valuation Frequency
Equity Accounting Method
Fixed Income Accounting Method
Composite Includes
Yes
No
No
1
Asset-Weighted
Time-Weighted
Monthly
Accrual
Accrual
Asset-Plus-Cash-Returns
------Yes Begin Date: 1/1/1994/ End Date: 12/31/2013
No
No
Composite Summary:
Assets in Composite
# of Accounts in Composite
Composite Represents
Composite performance examined
Product includes revenue from securities lending activity
Product excludes revenue from securities lending activity
Composite Dispersion: Gross of Fees
Highest Return
Median Return
Lowest Return
2014
-------
2013
-------
2012
22.27%
18.22%
16.78%
2011
-1.65%
-2.46%
-3.05%
2010
34.92%
34.65%
---
Dispersion Comments: Additional Performance Disclosure: The results for 2007, 2006, 2005, 2004, 2003, 2002, 2001, 2000, 1999, 1998, 1997, 1996 and the fourth quarter of 1995 include all institutional accounts of $2 million or more which paid
for transactions on a commission basis. Third quarter results for 1995 include all Small Cap Growth accounts, which paid for transactions on a commission basis. The data for 1994 and the
first two quarters of 1995 reflect the performance of a single account managed by Bert Boksen while he was associated with an affiliated firm. That account had objectives and policies
similar to Small Cap Growth accounts, except as follows: First, the original account held five or fewer different stocks. Second, the original account held as much as 25% of its assets in one
stock. Finally, the original account held a substantial cash position. The original account started with approximately $300,000; it became an Eagle Small Cap Growth account in May 1995,
and Mr. Boksen continued to manage it. As of June 1995, the account value was about $350,000, and it was less than 1% of Eagle's total managed assets. No inference should be drawn
by present or prospective clients that managed accounts will achieve similar investment performance in the future. Because accounts are individually managed, returns for separate
accounts may be higher or lower than the average performance figures stated above. Investing in equities may result in a loss of capital. Small company stocks can be less liquid and more
volatile than those of large companies. For the third quarter of 1995, six retail commission accounts, with about $1 million in assets, or less than 1% of Eagle's total managed assets, were
represented in the composite. For the fourth quarter of 1995, the corresponding numbers were one institutional account, $33.5 million, and less than 2% of Eagle's managed assets. For
1996, the corresponding numbers were one institutional account, $74 million and approximately 3% of Eagle's managed assets. For 1997, the number of accounts was 11; composite assets
were $253 million and were 5.6% of Eagle's total managed assets. For 1998, the number of accounts was 20; composite assets were $440.1 million and constituted 7.3% of Eagle's total
managed assets. For 1999, the number of accounts was 20; composite assets were $475.7 million and constituted 7.5% of Eagle’s total managed assets. For 2000, the number of accounts
was 15; composite assets were $411.4 million and constituted 6.7% of Eagle’s total managed assets. For 2001, the number of accounts was 15; composite assets were $465.6 million and
constituted 7.9% of Eagle’s total managed assets. For 2002, the number of accounts was 13; composite assets were $273.7 million and constituted 4.8% of Eagle’s total managed assets.
For 2003, the number of accounts was 11; composite assets were $364.3 million and constituted 4.5% of Eagle’s total managed assets. For 2004, the number of accounts was 14;
composite assets were $667.7 million and constituted 6.4% of Eagle’s total managed assets. For 2005, the number of accounts was 18; composite assets were $962.8 million and
constituted 8.3% of Eagle’s total managed assets. For 2006, the number of accounts was 21; composite assets were $1.1 billion and constituted 8.7% of Eagle’s total managed assets. For
2007, the number of accounts was 26; composite assets were $1.3 billion and constituted 9.3% of Eagle’s total managed assets. For 2008, the number of accounts was 20; composite
assets were $326 million and constituted 3.1% of Eagle’s total managed assets. For 2009, the number of accounts was 27; composite assets were $482 million and constituted 3.53% of
Eagle’s total managed assets. For 2010, the number of accounts was 38; composite assets were $1,180 billion and constituted 7.17% of Eagle’s total managed assets. Dispersion is a sizeweighted standard deviation of annual returns for those accounts that were in the composite for the entire year. Dispersion for Eagle's Small Cap Growth Institutional accounts was not
meaningful in 1994-1996, 0.90% in 1997, 3.60% in 1998, 8.30% in 1999, 3.20% in 2000, 1.50% in 2001, 0.68% in 2002, 1.51% in 2003, 0.78% in 2004, 0.95% in 2005, 0.47% in 2006,
0.55% in 2007, 0.43% in 2008, 0.84% in 2009 and 0.41% in 2010. Eagle Asset Management, Inc. is an investment adviser registered with the Securities and Exchange Commission and is
engaged in providing discretionary management services to client accounts. A list and description of all of Eagle's performance composites are available upon request. The benchmark is the
Russell 2000 Growth Index, which has been derived from published sources and has not been examined by independent accountants. The composite creation date for GIPS purposes was
January 1, 1994. Performance is based upon U.S. dollar returns. Performance data for the current year has not been audited and are subject to revision. Thus, the composite returns
shown here may be revised and Eagle will publish any revised performance data.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Profile: Firm Summary
General Firm Information
Firm Legal Name:
Eagle Asset Management, Inc.
Secondary Office Locations:
Firm Headquarters:
880 Carillon Parkway
City,State - Purpose
St. Petersburg, Florida 33716
1) Stowe, Vermont - Portfolio Management
United States
Main Phone | Main Fax:
800.235.3903 | 727.567.8020
Firm Website Address:
www.eagleasset.com
Geographic Areas of Business Operation:
United States, Canada
Year Firm Founded:
1976
Registered Invt Advisor:
Yes
Marketing Contact:
Database Contact:
Don Pepin , Senior Vice President, Director of Institutional
Sales
Greg Serota , Consultant Relations Analyst
880 Carillon Parkway
St. Petersburg, Florida 33716
33716, Florida 33716
Phone: 727.567.4693 | Fax:
880 Carillon Parkway
Phone: 727.567.6561 | Fax: 727-567-8020
Email: [email protected]
Email: [email protected]
Asset & Account Breakdown by Vehicle (Million) Displayed In US Dollar (USD)
Separate/Segregated
Assets
Accounts
Pooled/Commingled
Assets
Accounts
Mutual Fund: Institutional
Assets
Accounts
Mutual Fund: Retail
Assets
Accounts
Total
$
25,759.3
26,594
$
0.0
0
$
7,011.0
11
$
0.0
0
Equities:Active
$
19,105.9
16,587
$
0.0
0
$
6,956.1
10
$
0.0
0
Equities:Passive
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Bonds/Fixed Interest:Active
$
4,825.4
5,920
$
0.0
0
$
54.9
1
$
0.0
0
Bonds/Fixed Interest:Passive
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Alternatives:Real Estate/Property
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Alternatives:Hedge Fund of Funds
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Alternatives:Overlay(TAA/Currency)
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Alternatives:Private Equity
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Alternatives:Other
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Multi-Asset/Balanced
$
1,828.0
4,087
$
0.0
0
$
0.0
0
$
0.0
0
Other
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Assets & Account Information By Client Type (Million) Displayed In US Dollar (USD)
Total
Assets
Institutional
Assets
Accounts
Accounts
Taxable
Assets
Tax-Exempt
Assets
Accounts
Accounts
Total
$
32,770.3
26,605
$
21,385.3
312
$
23,458.7
21,887
$
9,311.6
4,718
Corporate
$
3,856.8
714
$
2,627.0
77
$
2,226.9
596
$
1,629.9
118
Superannuation
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Public Fund
(Government)
$
1,701.4
57
$
1,512.0
41
$
0.0
0
$
1,701.4
57
Union/Multi-Employer
$
198.3
21
$
175.1
15
$
0.0
0
$
198.3
21
Foundation & Endowment
(Charities)
$
270.4
86
$
570.9
86
$
0.0
0
$
270.4
86
Health Care
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Insurance
$
2,344.9
5
$
2,344.9
5
$
2,344.9
5
$
0.0
0
High Net Worth
$
4,870.6
8,732
$
0.0
0
$
4,870.6
8,732
$
0.0
0
Wrap Accounts
(Broker-Dealer)
$
3,528.9
11,739
$
0.0
0
$
3,528.9
11,739
$
0.0
0
Sub-Advised
$
2,733.3
8
$
2,733.0
8
$
2,733.3
8
$
0.0
0
Supranationals
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Sovereign Wealth Funds
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
Other*
$
13,265.7
5,249
$
11,422.4
89
$
7,754.1
807
$
5,511.6
Defined Contribution
$
0.0
0
$
0.0
0
$
0.0
0
$
0.0
0
Assets By Account Size (Million) Displayed In US Dollar (USD)
Accounts By Size (Million) Displayed In US Dollar (USD)
< 1 USD Million:
1 - 10 USD Million:
10 - 100 USD Million:
100 - 500 USD Million:
> 500 USD Million:
0
4,442
Assets By Account Size
$
4,455.5
$
3,078.7
$
4,072.6
$
3,182.2
$
10,022.0
Accounts By Size
< 1 USD Million:
1 - 10 USD Million:
10 - 100 USD Million:
100 - 500 USD Million:
> 500 USD Million:
13,137
1,367
142
14
6
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Assets By Geographic Region (Million) Displayed In US Dollar (USD)
United States
Canada
United Kingdom
Europe ex-UK
Japan
Australia
Hong Kong
Singapore
Other Asia ex-Japan
Africa/Middle East
Latin America
Other
$
$
$
$
$
$
$
$
$
$
$
$
Assets by Domicile
29,756.7
157.5
0.0
2,856.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Total
$
32,770.3
Accounts by Domicile
26,596
5
0
4
0
0
0
0
0
0
0
0
26,605
Total
$32,770.3 / 26,605
Canada
157.5 / 5
UK
0.0 / 0
United States
29,756.7 / 26,596
Europe ex-UK
2,856.0 / 4
Africa/
Middle
East
0.0 / 0
Japan
0.0 / 0
Hong
Kong
0.0 / 0
Latin America
0.0 / 0
Other Asia exJapan
0.0 / 0
Singapore
0.0 / 0
Australia
0.0 / 0
Other
0.0 / 0
Largest Accounts By Size (Million) Displayed In US Dollar (USD)
Historical Year-End Assets (Million) Displayed In US Dollar (USD)
Account Type
1) Other
2) Other
3) Sub-Advised
4) Other
5) Other
Account Size
$
4,092.7
$
2,480.3
$
1,405.0
$
875.7
$
661.7
Assets As Of
Year-End 2011
Year-End 2012
Year-End 2013
Year-End 2014
Total
Institutional Taxable Tax-Exempt
$18,842.1
$9,668.8
$11,125.9
$7,716.2
$22,193.3
$0.0
$13,617.7
$8,575.6
$31,358.7
$22,241.4
$20,762.3
$10,523.2
$31,721.5
$21,053.7
$22,232.2
$9,489.3
Assets by Geographic Region & Asset Class (Million) Displayed In US Dollar (USD)
United States
Canada
United Kingdom
Europe ex-UK
Australia
Japan
Hong Kong
Singapore
Other Asia ex-Japan
China
Latin America
Africa/Middle East
Developed Intl Mkts (EAFE)
Global
Emerging Markets
Other
Equity
$26,062.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
Fixed Income
$4,880.3
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
Balanced
$1,828.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
Alternatives
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
Other
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
$0.0
Assets & Accounts Gained/Lost Displayed In US Dollar (USD)
* Data prior to 2007 was collected on an annual rather than quarterly basis.
Assets
Gained
Lost
Net
Gained
Accounts
Lost
2011
$
1,173.9
$
1,130.0
$
43.9
2,804
2,726
78
2012
$
1,908.4
$
1,399.0
$
509.4
3,285
2,757
528
2013
$
1,240.7
$
1,557.1
$
(316.4)
2,191
2,690
(499)
2014
$
1,417.1
$
1,467.6
$
(50.5)
3,667
1,981
1,686
First Quarter 2015
$
455.6
$
458.4
$
(2.8)
1,037
530
507
YTD 2015
$
455.6
$
458.4
$
(2.8)
1,037
530
507
Net
Explanation of Asset or Account Turnover:
Firmwide gains and losses
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
GIPS Compliance
CFA Institute - GIPS Compliance
GIPS Standards Compliant?
Beginning of Compliance:
Firm Verified?
Verification Report Last Period:
Verification Firm:
Yes
1/1/1982
Yes
1/1/1982
PricewaterhouseCoopers, LLP
Insurance Coverage
Errors & Omissions Insurance:
Fiduciary Liability Insurance:
Firm Bonded:
General Compliance Information
Firm in compliance w/CFAI's Manager Code of Conduct:
Firm in compliance w/CFAI's Soft Dollar Standards:
Firm uses Soft Dollars:
Firm agree with Sarbanes-Oxley Act of 2002:
Firm has signed the UN-Backed Principles for Responsible Investment Initiative (PRI):
Explanation if Firm is Not GIPS Compliant:
---
Yes
Yes
Yes
$20.00 Million
--$50.00 Million
Yes
Yes
--Yes
---
Firm Ownership
General Ownership Structure
% Employee Owned
% Parent Owned
% Publicly Held
% Joint-Venture Owned
% Government Owned
% Family Owned
% Private Equity Owned
% Other Ownership
Number of Employee Owners
Parent Company Name
Contribution % to Parent Company Revenue
Contribution % to Parent Company Profit
Minority/Female Ownership Structure % African American Ownership
% Asian Owned
% Hispanic Owned
% Female Owned
% Other Minority Owned
Total Minority/Female Ownership
0.0%
100.0%
0.0%
--------0.0%
0
Raymond James Financial
-----
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Team Description
Portfolio Mngrs/Dual Role
PM:
Research Analysts:
Traders:
Economists:
Client Service:
Marketing:
Other Staff:
Risk Portfolio/Monitoring:
Compliance/Administration:
Certificates/Designations/Degrees
CFA Charterholders:
MBAs:
PHDs:
Total Number
Avg. Years of Experience
25
21
17
8
0
22
20
108
0
11
13
14
-------------
36
23
1
Explanation of How Professionals are Categorized
Eagle does not actively track years of experience for non-investment professionals.
Compensation Structure
Analysts:
Portfolio Manager:
Team:
-------
Description of Various Components of Compensation
Eagle has created a compensation plan that provides our investment professionals with long-term financial incentives and encourages them to
develop their careers with the firm. Our investment professionals are compensated as follows: • All portfolio managers, analysts, and traders are
paid base salaries that are competitive with others in their fields, based on industry surveys; • Portfolio managers participate in a revenuesharing program based upon performance over 1, 3, 5 and 10-year periods that provides incentives to build a successful investment program
over the long-term; • Additional deferred compensation plans are provided to key investment professionals; • Analysts and traders receive
incentive bonus compensation that is a multiple of their base salary, primarily based upon experience and their contribution to client’s investment
results; • Portfolio managers may participate in a non-qualified stock option program or may receive restricted stock grants. These programs are
designed to attract and retain talent for the long-term; • All employees receive benefits from our parent company including a 401(k) plan, profit
sharing, Employee Stock Ownership Plan, and Employee Stock Purchase Plan.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Professional Turnover
Portfolio Managers
Gained
Lost
Analysts
Gained
Lost
Traders
Gained
Lost
Marketing/Client Service
Gained
Lost
2011
0
0
2
0
0
0
0
0
2012
11
3
4
3
0
0
0
0
2013
0
2
0
0
0
0
0
0
2014
1
0
1
1
0
0
0
0
First Quarter 2015
0
0
0
0
0
0
0
0
YTD 2015
0
0
0
0
0
0
0
0
Professional
Alan Ashworth
Tom Bastian
Raj Bharwani
Sandeep Bhatia
Joseph Blanton
Steven Certo
Jay Daniel
E Dauer
John Davenport
Doris Demkovich
Duane Eatherly
Brad Erwin
Patrick Franke
Robert Hahn
Joe Hill
Rob Hyken
Joe Jackson
John Jordan
Louis Kirschbaum
Danny Lee
Nikola Legetic
Clay Lindsey
Glen Manna
Robert Marshall
Joe McFadden
Chad Meuse
Robert Natale
John Pandtle
Ashi Parikh
Stacey Pittman
David Powers
George Prince
Karthik Radhakrishnan
Randy Renfrow
Randy Renfrow
Stephen Riccio
Dick Rice
Sowmdeb Sen
Melanie Shale
Title
CFA, Senior VP, Client Portfolio Manager
CFA, CPA, Portfolio Manager
Research Analyst
CFA, Other, Senior Research Analyst
Managing Director
Portfolio Manger
CFA, Sr. Research Analyst
Portfolio Co-Manager
CFA, Research Consultant
Senior Fixed Income Portfolio Reviewer
CFA, Research Consultant
CFA, Senior Research Analyst
Senior Research Analyst
CFA, Research Analyst
CFA, Research Analyst
CFA, Portfolio Co-Manager/Trader
CFA, Senior Research Analyst
CFA, Portfolio Co-Manager
Managing Director and Portfolio Co-Manager
CFA, Senior Research Analyst
CFA, Research Analyst
Portfolio Analyst & Communications Manager
CFA, Senior Research Analyst
Portfolio Co-Manager
CFA, Research Analyst
Research Analyst
CFA, Managing Director, Portfolio Manager
CFA, Research Analyst
Managing Director & Portfolio Manager
CFA, Asst Portfolio Manager
CFA, Portfolio co-Manager
Senior Research Analyst
Research Analyst
Research Analyst
CFA, Research Analyst
CFA, Senior Research Analyst
CFA, Research Analyst
Research Analyst
Research Analyst
Start Year Industry
1985
1986
1998
2000
1965
1991
1998
1991
1985
1980
1992
1995
1996
1998
1993
1996
1997
1994
1972
1995
2004
1999
1998
1988
1994
1999
1979
1993
1992
1997
1995
1997
2002
1994
1999
1990
1975
2000
1996
Start Year Firm
2011
1999
2000
2005
1986
2001
2006
2001
2001
1992
1999
2000
2004
2000
1999
2000
2004
2001
1986
2005
2004
2000
2008
2001
2000
2001
2008
1999
1999
1999
2012
2004
2005
2001
2001
2008
2001
2000
1999
Departure Date
04/11/2014
02/01/2003
05/31/2004
03/31/2007
01/01/2004
10/01/2002
03/31/2012
12/31/2012
12/31/2012
04/30/2003
06/01/2005
03/31/2007
09/30/2010
03/07/2008
03/31/2004
09/30/2009
10/25/2004
12/31/2012
12/11/2008
10/02/2006
04/21/2014
05/01/2007
12/31/2008
12/31/2012
12/31/2005
12/31/2002
12/31/2009
04/01/2002
10/02/2006
10/04/2013
09/01/2013
04/01/2006
10/02/2006
01/01/2002
12/31/2004
12/31/2007
09/30/2012
03/07/2008
01/01/2002
Reason For Departure
Resigned
Resigned
Resigned
Resigned
Retired
Terminated
Career Transition
Other
Other
Resigned
Resigned
Resigned
Resigned
Resigned
Terminated
Resigned
Resigned
Left the firm
Deceased
Resigned
Terminated
New Role w/in Firm
Terminated
Other
Resigned
Resigned
Resigned
Resigned
Resigned
Other
Resigned
Resigned
Resigned
Resigned
Resigned
Terminated
Retired
Resigned
Resigned
* Data prior to 2007 was collected on an annual rather than quarterly basis.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Investment Professionals
Professional
Andrew Adebonojo
Rubin Bahar
David Blount
Bert Boksen
James Camp
Edmund Cowart
Ian Dodd
Adam Gallina
Harald Hvideberg
Joseph Jackson
Sheila King
Tom Knapp
Chris Kouffman
Todd McCallister
Matthew McGeary
Eric Mintz
Burton Mulford
Kyle Oliver
John Pandtle
Betsy Pecor
Jeffrey Reda
Scott Renner
Sameer Sabharwal
Chris Sassouni
Charles Schwartz
Tariq Siddiqi
Richard Skeppstrom
Matthew Spitznagle
Jeff Vancavage
Alexandria White
Title
CFA, Senior Research Analyst
CFA, Senior Research Analyst
CFA, CPA, Portfolio co- Manager
CFA, Managing Director
CFA, Managing Director
CFA, Managing Director, Value Portfolio Manager
CFA, Research Analyst
CFA, Senior Research Analyst
CFA, Portfolio Co-manager
CFA, Portfolio Co-manager, Head of Corporate Bond Research
CFA, Portfolio Co-manager & Fixed Income Research Analyst
CFA, Research Analyst
Research Associate
CFA, Other, Managing Director and Portfolio Manager
CFA, Portfolio co-Manager
CFA, Portfolio co-Manager
CFA, Portfolio Manager & Trader
Research Analyst
CFA, Portfolio Manager
CFA, Portfolio co-Manager
CFA, Research Analyst
Asst Portfolio Manager
CFA, Research Analyst
Senior Research Analayst
CFA, Portfolio co-Manager
CFA, Senior Research Analyst
Managing Director & Portfolio Co-Manager
CFA, Senior Research Analyst
CFA, Senior Research Analyst
CFA, Research Analyst
Primary Role
Equity Analyst
Fixed Income Analyst
Portfolio Manager
Portfolio Manager
Portfolio Manager
Portfolio Manager
Fixed Income Analyst
Equity Analyst
Portfolio Manager
Fixed Income Analyst
Fixed Income Analyst
Fixed Income Analyst
Other
Portfolio Manager
Portfolio Manager
Portfolio Manager
Portfolio Manager
Research
Portfolio Manager
Portfolio Manager
Equity Analyst
Portfolio Manager
Equity Analyst
Equity Analyst
Portfolio Manager
Equity Analyst
Portfolio Manager
Equity Analyst
Equity Analyst
Fixed Income Analyst
Start Year Industry
1992
1988
1984
1977
1990
1972
2006
2000
1997
1997
1987
2007
2003
1987
1999
1995
1986
2009
1993
1997
2002
1991
2003
1989
1991
2003
1990
1996
1999
2004
Start Year Firm
2011
2011
1993
1995
1997
1999
2011
2007
2014
2004
1987
2007
2004
1997
2012
2005
1999
2014
2009
2012
2010
2007
2008
2003
2012
2012
2001
2012
2001
2008
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Equity Owner
------No
--------No
No
------No
------No
------No
No
------No
------ Eagle Asset Management, Inc.
March 31, 2015
Profile: Firm Narratives
Firm Background
Since 1976, Eagle Asset Management, Inc. has been managing customized portfolios intended to help sophisticated clients meet their investment goals. Eagle's predecessor was founded in
1976; the firm was incorporated under the name Eagle Asset Management in 1984.
Eagle's first product offering was a large cap vehicle, which began in 1976. The firm added fixed income and equity income programs in the mid-1980s and small and mid cap growth and core
vehicles in the mid- to late-1990s.
In late 2007, the ownership of subsidiary Eagle Boston Investment Management, a small cap-focused investment adviser, was transferred from the parent company to Eagle Asset
Management. Effective November 1, 2008, ownership of the Eagle Family of Funds transferred to Eagle Asset Management and the name of the fund company changed to Eagle Family of Funds. In this
transfer, there was no change to Eagle Family of Funds' management or organizational structure.
In August 2012, Eagle augmented its investment lineup with a small- and mid-cap equity team located in Stowe, Vermont. Their hiring was an addition to Eagle's existing investment talent.
In October 2012, Eagle entered into an agreement to acquire minority ownership (45%) of and a controlling interest in ClariVest Asset Management LLC, an investment firm based in San
Diego, CA. The transaction closed at the end of calendar year 2012.
Joint Ventures/Affiliations
Prior or Pending Ownership Changes
Prior or Pending Litigation
Yes
Explanation of Litigation There is no litigation pending against Eagle. There is no litigation pending against any of our affiliates that could affect Eagle's operations or its ability to provide advisory services to its clients. In 1997, Eagle was named as a defendant in a multi-party arbitration proceeding filed by a former retail client. The case involved unauthorized withdrawals of client assets by an unaffiliated broker,
who then made unauthorized investments with those assets. Eagle believed it had no liability for losses resulting from the actions of the broker, but we reached a settlement with the claimant in 1998
to avoid the future time and expense of continued litigation.
Eagle was named as a defendant in a multi-party action involving a former retail broker of Eagle’s affiliated broker-dealer. In 1998, Eagle was dismissed as a defendant for lack of any contractual or
other relationship with the client.
Additional Comments
Eagle Asset Management is the parent company of Eagle Boston Investment Management, a wholly-owned subsidiary, which offers Small Cap Equity and Small/Mid Cap Equity investment
programs for both institutional and high net worth clients. Also, ClariVest Asset Management is an affiliate of Eagle Asset Management of which Eagle is a minority owner with a controlling
interest. Please look at separate eVestment Alliance entry for our subsidiary and affiliate firm.
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.
Eagle Asset Management, Inc.
March 31, 2015
Profile: Operations
Firm Financial Information
Asset Management Companies
Income Statement Information
Gross Revenue
% of Revenue Derived from Performance Fees
EBITDA or Distributable Profit (US LLPs)
Interest Income
Interest Expense
Net Income
Firm is a Subsidiary of Parent/Holding Company:
$
$
$
$
$
$
No
-------------
(Millions)
%
(Millions)
(Millions)
(Millions)
(Millions)
Balance Sheet Information
Cash & Cash Equivalents
Investments
Debt
Present Value of Lease Obligations
Equity
$
$
$
$
$
$
-----------
(Millions)
(Millions)
(Millions)
(Millions)
(Millions)
(Millions)
Corporate Governance
Firm Policy on Corporate Governance Expectations of Companies:
---
Policy Applies to All Regions in which Firm Invests:
---
Firm Exercises Ownership Rights through Voting Proxies:
---
Votes Exercised in All Regions in which Firm Invests:
---
Firm Disclose Voting Records:
---
Document not available in PDF
Firm Encourages Good Corporate Governance Standards:
---
Document not available in PDF
Firm's Corporate Governance Incorporates Environmental & Social Considerations:
---
Number of Full Time Staff Dedicated to Corporate Governance:
---
Document not available in PDF
Regulatory Environment
Firm is Regulated By Following Organizations/Governmental Agencies:
Agency Name
Registration #
Registration Date
Date of Last Visit
Firm had any reported breaches within last 12 months:
---
Action taken against firm by any regulatory body:
---
Action taken against individuals within firm by any regulatory body:
---
Complied with all Minimum Capital Requirements during the last 12 months:
---
Scope of Last Visit
Internal Control & Systems
Auditor's reports on internal controls (ie. SAS70, AA 01/06, etc):
Document not available in PDF
Name of Order Management System:
---
- Version of Order Management System:
---
- Details of any changes to OMS within last 12 months:
- Details of any planned changes to OMS within last 12 months:
Disaster Recovery
Disaster Recovery Plan in Place:
No comments provided about the firm's Disaster Recovery plan.
Additional Information & Documentation
Name of Firm's Auditing Organization:
---
Latest set of Audited Annual Financial Statements:
Document(s) Not Available in PDF Format
Firm's Valuation Procedures:
Document(s) Not Available in PDF Format
Firm's Conflict of Interest Policy:
Document(s) Not Available in PDF Format
Example of Life Cycle of Trade:
Document(s) Not Available in PDF Format
eVestment and its affiliated entities (collectively, "eVestment") collect information directly from investment management firms and other sources believed to be reliable; however, eVestment does not guarantee or warrant
the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on eVestment’s systems
and other important considerations such as fees that may be applicable. Not for general distribution. * All categories not necessarily included; Totals may not equal 100%. Copyright 2013-2015 eVestment Alliance, LLC. All
Rights Reserved.

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