Institutional Strategies

Mid Cap Income Opportunities

A concentrated portfolio that focuses on resilient mid cap dividend paying companies with sound capital structures. It seeks companies with the potential to grow market cap and dividends over time.

Investment Philosophy

The strategy’s portfolio management team believes that by investing in mid-cap dividend-paying stocks, it can lower the volatility of the portfolio and provide a growing stream of income while providing capital appreciation for the long term. Integral to the dividend component is the focus on growing mid-cap companies. By investing in companies that are able to grow their earnings and cash flow, the team anticipates potential for a higher dividend over time. Note, there can be no guarantee that the companies in which we invest will declare dividends.

Investment Process

The strategy seeks to provide total return through a combination of income and capital appreciation by investing primarily in a diversified portfolio of income-producing common stocks of mid-capitalization companies that the portfolio management team thinks demonstrate favorable prospects for total return. The team focuses primarily on mid-capitalization companies believed to have the ability to sustain, and potentially increase, dividends while providing capital appreciation over the long-term.

The strategy utilizes a fundamental, bottom-up security selection process that incorporates the following key elements.

MCIO process chart
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Key Features

Composite Performance History Since 11/1/2014
Benchmark Russell Midcap Index
Security Concentration The strategy typically holds 35–50 positions
Turnover Range Typically 35–50%
Sector Ranges Broad exposure to all U.S. sectors. Built from bottom up. Generally, +/-10% of the index weight.
Position Size Equally weighted (rebalanced quarterly)
Cash Allocation Typically below 5%
Investment Vehicles Institutional Separate Account
U.S. Mutual Fund: Institutional Share Class
SMA Model Delivery