Schroder U.S. Small and Mid Cap Opportunities Fund
| Investor Shares | Advisor Shares | |
|---|---|---|
| Ticker Symbol | SMDIX | SMDVX |
| CUSIP | 80809R204 | 80809R105 |
| Inception Date | 3/31/2006 | 3/31/2006 |
| Fund Assets | $81.34 million | $8.18 million |
Investment Objective
U.S. Small and Mid Cap Opportunities Fund seeks capital appreciation by investing primarily in securities of small and mid cap companies in the United States.
Fund Overview
- Core investment style uses a bottom-up, fundamental, research-based approach to small-cap stock evaluation
- Seeks to identify companies with compelling business models, strong management teams and attractive valuation levels
- Sources of research include: company managements, competitors, media and suppliers
- Portfolio composed of 70 - 90 stocks with typical allocation of:
- 50-60% invested in mispriced growth opportunities
- 20-40% in "steady eddies" (companies with dependable earnings and revenue)
- 5-20% in "turnarounds" (companies that consensus deems out of favor, but we believe have potential)
Management Team
- Team managed by Jenny B. Jones
- 27 years investment experience managing small- and mid-cap equities
- Joined Schroders in 2002 as Head of US Small Cap Core Equity team
- Team: six research analysts dedicated to small- and mid-cap companies; one product manager
Jenny B. Jones
Schroder U.S. Opportunities Fund - Since 2003
Ms. Jones is the Head of U.S. Small and Mid Cap Equities of Schroders. She has been an employee of Schroders since 2003. Formerly, portfolio manager and Executive Director, Morgan Stanley Investment Advisors Inc.
Fund Facts (As of March 1, 2010)
| Investor Shares | Advisor Shares | |
|---|---|---|
| Minimum Investment | $250,000 | $2,500 |
| Min. Subsequent Inv | $1,000 | $1,000 |
| Load | NONE | NONE |
| Distribution Fee | NONE | 0.25% |
| Total Annual Fund Operating Expenses1 | 2.34 | 2.59 |
| Less: Expense Reimbursement2 | (1.26) | (1.26) |
| Net Annual Fund Operating Expenses3 | 1.08 | 1.33 |
Daily Price (As of July 29, 2010)
| Investor Shares | Advisor Shares | |
|---|---|---|
| Share Price/NAV | $10.27 | $10.16 |
| Change | -$0.03 | -$0.04 |
- 1“Other Expenses” are restated to reflect expenses paid at the Fund level for the fiscal year ended October 31, 2009; as a result of the restatement, the Total Annual Fund Operating Expenses shown differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the full prospectus.
- 2In order to limit the expenses, the Fund’s adviser has contractually agreed through February 28, 2011 to pay or reimburse the Fund to the extent that Total Annual Fund Operating Expenses (other than Acquired Fund Fees and Expenses, other indirect acquired fund expenses, interest, taxes, and extraordinary expenses) for the Fund’s Investor Shares exceed 1.05% of Investor Shares’ average daily net assets and for the Fund’s Advisor Shares exceed 1.30% of Advisor Shares’ average daily net assets. The expense limitation may only be terminated during its term by the Board of Trustees.
- 3“Net Annual Fund Operating Expenses” shown above include expenses incurred indirectly by the Fund (e.g., indirect Other Expenses and/or Acquired Fund Fees and Expenses), and thus may be higher than the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the full prospectus. If only the operating expenses of the Fund were included in Net Annual Fund Operating Expenses, and not the indirect expenses incurred by the Fund, the Net Annual Fund Operating Expenses would be 1.05% for Investor Shares and 1.30% for Advisor Shares.
Performance data quoted represents past performance. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance data does not reflect a 2.00% redemption fee on shares redeemed two months or less from their date of purchase. Current performance may be lower or higher than the performance data quoted.
For performance data current to the most recent month end, please click the following link: performance. Please consider a fund's investment objectives, risks, charges and expenses carefully before investing. For access to the prospectus, please click the following link: prospectuses. To obtain any further information on any Schroders fund, please read the prospectus, call your financial advisor or call Schroder Mutual Funds at (800) 464-3108 for Individual Investors or (800) 730-2932 for Intermediaries/Financial Consultants. Read the prospectus carefully before investing.
All investments involve risks including the risk of possible loss of principal. The market value of a fund's portfolio may decline as a result of a number of factors, including adverse economic and market conditions, prospects of stocks in the portfolio, changing interest rates, and real or perceived adverse competitive industry conditions. Investments in small and medium capitalization companies generally carry greater risk than is customarily associated with larger capitalization companies, which may include, for example, less public information, more limited financial resources and product lines, greater volatility, higher risk of failure than larger companies, and less liquidity.
Please see the prospectus for a full description of the risks associated with the fund.