This low-cost fund seeks to track a benchmark of large- and mid-capitalization stocks
that have been screened for social, human rights, and environmental criteria.
The Extended United States of America universe consists of large- and mid-capitalization stocks
from the USA, selected by free-float-adjusted market capitalization and subject to a liquidity screen.
Conestoga Capital Advisors, LLC said it has added Derek Johnston, CFA and Larry Carlin, CFA to the firm to serve as equity research analysts and will support Conestoga's research of small- and mid-capitalization stocks
Today's rise boils down to the fact that small- and mid-capitalization stocks
were still strong,'' said Nagayuki Yamagishi, senior strategist at UFJ Tsubasa Securities Co.
Over the past 65 years, small- and mid-capitalization stocks
have produced total returns of about 13 percent, while the S&P 500 has returned about 10.
Small- and mid-capitalization stocks
may be subject to higher degrees of risk, their earnings may be less predictable, their prices more volatile, and their liquidity less than that of large-capitalization or more established companies' securities.
The USD69 billion Vanguard Emerging Markets Stock Index Fund, USD52 billion Vanguard Developed Markets Index Fund, USD20 billion Vanguard European Stock Index Fund, and USD6 billion Vanguard Pacific Stock Index Fund will move from FTSE benchmarks containing large- and mid-capitalization stocks
to broader FTSE benchmarks that include large-, mid-, and small-capitalization stocks, as shown in the accompanying table.
In addition, some monies were moved from domestic large-capitalization stocks to provide for an increase in exposure to both domestic small- and mid-capitalization stocks
In managing its portion of Morgan Growth Fund, Kalmar follows a fundamental strategy to identify undervalued mid-capitalization stocks
of solid, well-managed companies.
The new fund will seek to track the performance of the FTSE All-World Index, a float-adjusted, market-capitalization-weighted index designed to measure the equity market performance of large- and mid-capitalization stocks
typically carry additional risk, since smaller companies generally have higher risk of failure and, historically, their stocks have experienced a greater degree of volatility.
The underlying risks include, but are not limited to, volatility and additional risks associated with investments in small- and mid-capitalization stocks
and real estate securities; political, economic, and currency risk associated with investments in small- and mid-capitalization stocks
and real estate securities; political, economic, and currency risk related to foreign securities; and interest-rate risk associated with investing in debt securities.