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For investors seeking long-term capital growth in mid-size companies. Emphasizes stocks with a market cap between $700 million and $8 billion (at cost).
As of June 30, 2008
| Portfolio At-a-Glance |
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| Top 5 Holdings |
Top 5 Industries |
Genzyme Corporation
ENSCO International, Inc.
Wright Medical Group, Inc.
Cephalon, Inc.
Halliburton Company |
Healthcare
Energy
Financial
Technology
Industrial |
| Characteristics |
KING |
Russell Midcap® |
Price/Earnings Ratio ('08E)
Price/Book Ratio
P/E-to-Growth Rate ('08E)
Price/Sales Ratio
Median Market Cap. ($Billion)
Number of Positions |
14.5x
2.3x
1.0x
2.0x
$7.2
23-27 |
16.1x
2.3x
1.2x
0.9x
N/A
N/A |
Mid-cap companies, often diamonds in the rough, have the potential to become big winners in the marketplace. While these companies are indeed smaller than those found in the S&P 500, their size can be an asset. They operate in the best of both worlds. For one, they frequently are characterized by smaller management teams; thus, they can react quickly to market changes, which often leads to greater growth potential than that of their larger counterparts. In addition, because they frequently are better financed and have more established product lines, they often are less volatile than small-caps.
The Mid-Cap Equity Portfolio is managed with the same bottom-up investment philosophy as all KING products. Through disciplined, bottom-up research, KING looks for companies that appear to be selling for less than their true intrinsic value. Our portfolio will invest in companies with a market cap between $700 million and $8 billion (at cost).
The portfolio characteristics presented in the KING Mid-Cap Equity Portfolio are representative of all of the portfolios managed in the mid-cap style, and are not specific to any individual portfolio. Individual portfolios may vary.
Mid-Cap Portfolio Brochure (PDF 675kb)
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