KAR Mid Cap Core SMA

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KAR Mid Cap Core SMA

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Portfolio Overview

Investment Objective

  • To generate attractive risk-adjusted long-term returns by investing in the stocks of U.S. mid-cap companies with durable competitive advantages, excellent management, lower financial risk, and strong growth trajectories
  • To identify businesses that are differentiated by above-average returns on capital trading at attractive valuations

Investment Philosophy

We believe that purchasing high-quality businesses with competitive protections at attractive valuations will achieve excess returns over a complete market cycle.

Investment Partner

Kayne Anderson Rudnick Investment Management, LLC

Kayne Anderson Rudnick believes that superior risk-adjusted returns may be achieved through investment in high-quality companies with market dominance, excellent management, financial strength, and consistent growth, purchased at reasonable prices.


Learn more about Kayne Anderson Rudnick Investment Management, LLC

Investment Professionals

Jon Christensen

Jon Christensen, CFA

Portfolio Manager and Senior Research Analyst

Industry start date: 1995
Start date as fund Portfolio Manager: 1995

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Craig Stone

Craig Stone

Co-Chief Investment Officer, Portfolio Manager and Senior Research Analyst

Industry start date: 1989
Start date as fund Portfolio Manager: 1989

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Additional Resources

Outsmarting Volatility with a Quality Focus: KAR Mid Cap Core SMA
KAR Mid Cap Core SMA Portfolio Review

Risk Considerations

Equity Securities: The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small, medium, or large-sized companies may enhance that risk.
Industrial Concentration: Because the portfolio is presently heavily weighted in the industrial sector, it will be impacted by that sector's performance more than a portfolio with broader sector diversification.
Limited Number of Investments: Because the portfolio has a limited number of securities, it may be more susceptible to factors adversely affecting its securities than a portfolio with a greater number of securities.
Market Volatility: The value of the securities in the portfolio may go up or down in response to the prospects of individual companies and/or general economic conditions. Local, regional, or global events such as war or military conflict, terrorism, pandemic, or recession could impact the portfolio, including hampering the ability of the portfolio's manager(s) to invest its assets as intended.