Results in the three years through December 31, 2017 earned the Friess Small Cap Composite the top spot on the PSN list of “Bull & Bear Masters” based on the Composite’s favorable combination of above-benchmark upside capture and below-benchmark downside capture. The Composite, which represents the collective performance of separate small-cap portfolios managed by Friess Associates, also achieved “Top Guns” status for generating the seventh highest gross return in the period among small-cap growth managers in the PSN Universe.
The Friess Small Cap Composite captured 120.5% of the Russell 2000 Growth Index’s upside in the three years through December while experiencing just 46.2% of the index’s downside, according to PSN. The Composite grew 17.63% each year on average during the three-year period versus 10.28% for the Russell 2000 Growth Index.
The Friess Small Cap Composite’s average annual total returns (net of all fees and including the reinvestment of dividends) for one, five and 10 years through December 31, 2017 were 31.41%, 21.99% and 7.13%, respectively. The Russell 2000 Growth Index’s average annual total returns in the same trailing one, five and 10 years were 22.17%, 15.21% and 9.19%, respectively. You cannot invest directly in the Composite or the Index.
PSN is an investment manager database and is a division of Informa Investment Solutions, Inc. Peer groups were created using the information collected through the PSN investment manager questionnaire, and rankings use only gross of fee returns. The PSN small-cap growth universe consists of 160 managers and 190 products.
To qualify for “Bull & Bear Masters” consideration, products must have an upside market capture ratio of 100 or more for the latest three-year period, and downside market capture ratio of 100 or less for the latest three-year period. The top ten ratios between upside market capture ratio and downside capture ratio then become the PSN “Bull & Bear Masters” products. “Top Guns” in the PSN database’s “3 Star Category” represent top performers based strictly on returns for the three-year period.
The Friess Small Cap Composite includes all discretionary accounts that invest primarily in securities with market capitalizations below $3 billion, with the flexibility to invest in companies up to the maximum market capitalization of its benchmark. The Composite was created in January 1993. The inception date of Friess Associates’ management of the Composite is December 31, 1981. There are no non-fee paying accounts in the Composite. There is no minimum asset level required to be included in or remain in the Composite.