Nuance Concentrated Value Receives Recommendation from Litman Gregory
In-depth analysis of Kansas City-based value manager leads to favorable review
KANSAS CITY, Mo., May 7, 2013
KANSAS CITY, Mo., May 7, 2013 /PRNewswire/ -- Nuance Investments, a classic
value investment firm led by Scott A. Moore, CFA, a former senior portfolio
manager at American Century Investments, had its Concentrated Value Strategy
added to Litman Gregory's Recommended List on April 5, 2013.
Nuance Concentrated Value was evaluated by Litman Gregory based on a
combination of qualitative and quantitative measures, including absolute and
relative long-term performance metrics when compared to an appropriate
benchmark and peer group, manager skill, investment process and the discipline
by which the process is applied, quality and tenure of the research team,
shareholder orientation, assets under management, and product expenses. The
recommendation reflects Litman Gregory's confidence in the Concentrated Value
Strategy's potential to outperform a relevant benchmark over the long term.
According to the Litman Gregory Advisor Intelligence report issued by Jack
Chee and Chris Sawyer, CFA, "Our due diligence enabled us to gain an in-depth
understanding of the investment process and the discipline with which it is
executed. We came away very impressed."
"We greatly appreciate the time and care Litman Gregory put into its analysis
of Nuance," said Scott Moore, president and chief investment officer of
Nuance. "I believe the resulting report very accurately reflects our
philosophy, our process and our commitment to delivering superior
risk-adjusted returns. We are thrilled to be added to this prestigious list,
as it reconfirms the quality of our research and approach."
In addition to the firm's inclusion on Litman Gregory's recommended list, its
two separately managed accounts, the Nuance Concentrated Value Strategy and
the Nuance Mid Cap Strategy, have been rated 5-Stars by Morningstar. The
Concentrated Value Strategy has achieved multiple PSN Informa Top Guns status
within the All Cap Universe.
Nuance is part of Montage Investments, a diverse group of institutional
investment managers that together manage more than $15 billion for a wide
range of investors.
According to Gary P. Henson, CFA, CFP® and president of Montage, "We have long
been aware of the high-caliber approach and industry-leading results garnered
by the Nuance team. I am thrilled that independent third-parties, especially
such a well-regarded firm as Litman Gregory, are beginning to take notice."
About Nuance Investments
Nuance Investments is a value investment firm that was formed on the belief
that the ability to outperform the broad stock market is predicated on a
consistent and disciplined value investing approach. The Nuance team's focus
seeks to generate investment returns for clients by diligently reviewing one
company at a time on its own investment merits.
For more information regarding our Morningstar and Top Guns ratings, visit
About Montage Investments
Montage Investments brings together a unique group of institutional investment
managers – each offering a distinct approach to money management that reflects
many decades of professional experience and proprietary investment strategies
across global asset classes. Collectively, the Montage affiliates manage more
than $15 billion, including nearly $2 billion in seven mutual funds. The
firm's organizational approach is to allow individual investment managers to
retain boutique processes, talent and culture with a goal of adding value to
portfolios, while at all times meeting client needs.
About Litman Gregory
Since 1987, Litman Gregory Asset Management, LLC has been constructing
globally diversified portfolios for clients that include individuals,
families, foundations, and endowments. Litman Gregory has three additional
businesses that draw on the same underlying investment research: The Litman
Gregory Masters Funds (a family of multimanager equity and alternative
strategies mutual funds); Litman Gregory Portfolio Strategies (globally
diversified investment portfolios offered to advisors through leading turn-key
asset management platforms); and Litman Gregory AdvisorIntelligence (a
web-based asset class and manager research service for investment
professionals). In total, Litman Gregory manages approximately $9 billion.*
*The Litman Gregory companies that manage assets include Litman Gregory Asset
Management, LLC and Litman Gregory Fund Advisors, LLC. The asset values for
the period are based on information available as of 3/31/13.
Mutual fund investing involves risk, loss of principal is possible. Please
call 1-800-960-0188 to obtain a Prospectus for the Litman Gregory Masters
Funds. The Prospectus contains more complete information regarding the risks,
costs and expenses of the funds. The Litman Gregory Masters Funds are
distributed by Quasar Distributors, LLC.
© 2013 Morningstar, Inc. All rights reserved. The information contained
herein: (1) is proprietary to Morningstar and/or its content providers; (2)
may not be copied or distributed; and (3) is not warranted to be accurate,
complete, or timely. Neither Morningstar nor its content providers are
responsible for any damages or losses arising from any use of this
information. Past performance is no guarantee of future results.
Nuance Concentrated Value Separate Account Product – 5 Star Rating (Large
Value out of 407) as of March 31, 2013.
Nuance Mid Cap Value Separate Account Product– 5 Star Rating (Mid-Cap Value
out of 120) as of March 31, 2013.
Nuance Concentrated Value Composite – PSN Top Gun 3 Star Category (All Cap
Universe, 220 of 268 Products as of 12/31/2012). PSN Top Gun 2 Star Category
(All Cap Universe, 221 of 268 Products as of 03/31/2012).
Nuance Mid Cap Value Composite – PSN Top Gun 2 Star Category (Mid Value
Universe, 213 of 271 Products as of 03/31/2012 and 06/30/2012).
The Morningstar Rating^TM for separate accounts, commonly called the star
rating, is a measure of a separate account's risk-adjusted return, relative to
other separate accounts in the same Morningstar Category. Separate accounts
are rated from 1 to 5 stars, with the best performers receiving 5 stars and
the worst performers receiving 1 star. Separate accounts are rated for up to
three periods (three, five, and 10 years), and ratings are recalculated each
quarter. The Morningstar Rating for separate accounts uses an enhanced
risk-adjusted return measure, which accounts for all variations in a separate
account's monthly performance, with more emphasis on downward variation.
Separate accounts are ranked against others in the same category and stars are
assigned as follows: Top 10% 5 stars, Next 22.5% 4 stars, Middle 35% 3 stars,
Next 22.5% 2 stars, Bottom 10% 1 star.
The PSN universes were created using the information collected through the PSN
investment manager questionnaire and use only gross of fee returns. Mutual
fund and commingled fund products are not included in the universe. Top Gun
ratings are based on star categories where the top ten performers in each
category receive the Top Gun rating. 1 Star Category: these top ten performers
are based on quarterly returns. 2 Star Category: These top ten performers are
based on returns for one year period. 3 Star Category: These top ten
performers are based on returns for a three year period. For the 4, 5, and 6
Star Categories: First, products must have an R-Squared of 0.80 or greater
relative to the style benchmark for the recent five year period and products
must have returns greater than the style benchmark for the three latest
three-year rolling periods. 4 Star Category: These are the top ten performers
following the first two criteria that have the top performance over a three
year period. 5 Star Category: These are the top ten performers following the
first two criteria that also have a standard deviation for the five year
period that is equal or less than the median standard deviation for the peer
group. The rolling three year performance ranks the top ten performers. 6 Star
Category: These are the top ten performers following the first two criteria
that also have a standard deviation for the five year period that is equal or
less than the median standard deviation for the peer group. The rolling five
year performance ranks the top ten performers. The All Cap universe is
benchmarked against the Russell 3000 Value Index. The Mid Value universe is
benchmarked against the Russell Midcap Value Index.
SOURCE Nuance Investments
Contact: Elaina Boudreau, BELA Communications, +1-913-660-0548
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