Large Cap Growth Fund

Mutual Funds

The Oak Ridge family of mutual funds embodies our steadfast commitment to serving the investors who place their trust in our judgment. Our mandate is to invest our clients’ assets in high-quality equity opportunities according to each portfolio’s stated investment objective.

OAK RIDGE LARGE CAP GROWTH FUND

INVESTMENT OBJECTIVE
Capital appreciation

ATTRACTIVE RISK / REWARD PROFILE
This portfolio is invested primarily in equity securities of large-cap U.S. companies that we believe offer growth potential at a reasonable price. By no means a passive “blind index” portfolio, the Fund is invested in a moderately concentrated holding of approximately 40–50 positions.

INDUSTRY LEADERS
With its focus on large-cap U.S. stocks, this portfolio is generally characterized by large, established companies with well-known names, mature markets with high barriers to entry, and highly accomplished management teams. Nevertheless, our investment team relies on in-depth fundamental research and ongoing review to maintain high portfolio performance standards.

TOP 10 HOLDINGS as of 12/31/20161

Alphabet 6.7% Amazon 3.5%
Apple 6.6 UnitedHealth 2.7
Microsoft 4.4 Illinois Tool Works 2.6
Visa 3.9 Eli Lilly 2.6
Celgene 3.6 Home Depot 2.6

Portfolio Characteristics as of 12/31/20162

Weighted Avg. Market Cap $176.6B
Median Market Cap $55.6B
Average Price/Earnings Ratio (Forecast) 19.7x
Turnover 21%

Performance

Initial Investment: $10,000 in Class A Shares at net asset value—Time Period: 12/31/06 through 12/31/16

 

DAILY NAV As of

NAV $ DAY CHANGE $ YTD CHANGE $ YTD RETURN %

Annualized Total Returns as of 12/31/20163

YTD 1-Year 3-Year 5-Year 10-Year Since Inception
Class A (NAV) 0.40% 0.40% 4.43% 11.17% 4.81% 4.00%
Class A (POP) -5.37 -5.37 2.38 9.86 4.19 3.66
Class I (NAV) 0.39 0.39 4.49 11.24 4.96 4.14
Russell 1000® Growth Index 7.08 7.08 8.55 14.50 8.33 4.16

Calendar Year Returns as of 12/31/20164

2016 2015 2014 2013 2012 2011
Class A (NAV) 0.40% 4.02% 9.05% 33.36% 11.82% -1.49%
Class A (POP) -5.37 -1.94 2.75 25.72 5.37 -7.16
Class I (NAV) 0.39 4.10 9.18 33.31 11.96 -1.30
Performance data quoted here represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information quoted. For performance data including the effects of sales charges, Class A shares reflect the deduction of a maximum front-end sales charge of 5.75%. If sales charges were included, performance shown would be lower. To obtain performance information current to the most recent month-end please call 800.825.6226.
For Class A shares, a contingent deferred sales charge (“CDSC”) of 1% will be imposed on certain redemptions of such shares within 12 months of the date of purchase. No sales charge applies on investments of $500,000 or more.
The Fund acquired the assets and liabilities of the Pioneer Oak Ridge Large Cap Growth Fund (the “predecessor fund”) on October 17, 2014, at the same time as a change in control of the Advisor. As a result of the reorganization, the Fund is the accounting successor of the predecessor fund. Performance results shown in the bar chart and the performance table below for the period prior to October 17, 2014, reflect the performance of the predecessor fund. The predecessor fund acquired the assets and liabilities of another fund on February 13, 2004. Performance results shown for the period prior to February 13, 2004 reflect the performance of the prior fund.

FUND FACTS

Ticker

Class A: ORILX
Class C: ORLCX
Class I: PORYX

Gross Expense Ratio

Class A: 1.61%
Class I: 1.15%

Net Expense Ratio

Class A: 1.20%
Class I: 1.15%

The Fund's advisor has contractually agreed to waive its fees and / or pay for expenses to ensure they do not exceed 1.20% and 1.17% of the average daily net assets of the Class A and I Shares, respectively. This agreement is in effect until October 17, 2016.

Inception Date

3/1/1999

Management Fee

0.75%

CUSIP

Class A: 46141P180
Class I: 46141P164

Distribution

Annual

Min. Investment

Class A: $1,000
Class I: $1,000,000

Total Net Assets

$68mm as of 12/31/2016

Total Holdings

45 as of 12/31/2016

PORTFOLIO MANAGERS

  • klaskin

    DAVID M. KLASKIN

    Lead Portfolio Manager

    Learn more

  • mcvicker

    ROBERT G. MCVICKER

    Portfolio Manager

    Learn more

Top Sectors

as of 12/31/2016

Technology 31.3%
Consumer Discretionary 23.5
Healthcare 20.2
Consumer Staples 9.0
Industrials 7.4

Portfolio Allocation

Due to rounding, figures may not total 100%.
U.S. Equities 94%
International Equities 4
Cash 2

Risk Measures

10yr as of 12/31/2016

As compared to the Russell 1000® Growth Index
Beta5 0.95
R-squared6 96.30
Standard Deviation (Fund)7 15.04
Standard Deviation (Benchmark) 15.54


Important Risks: Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate. Larger, more established companies may be unable to attain the high growth rates of successful, smaller companies during periods of economic expansion. The Fund invests in foreign securities which involves certain risks such as currency volatility, political and social instability and reduced market liquidity. Emerging markets may be more volatile and less liquid than more developed markets and therefore may involve greater risks. The Fund invests in ETFs (Exchange-Traded Funds) and is therefore subject to the same risks as the underlying securities in which the ETF invests as well as entails higher expenses than if invested into the underlying ETF directly.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling 855-551-5521 or clicking here. Please read the prospectus carefully before you invest. Distributed by IMST Distributors, LLC.

1 The portfolio is actively managed and current holdings may be different. The holdings listed should not be considered recommendations to buy or sell any security listed.

2 P/E refers to the price of a stock divided by its earnings per share. Reflects weighted average of trailing 12-month price-to-earnings ratios of portfolio holdings. Market Capitalization reflects the total U.S. -denominated portion of the portfolio. Turnover Ratio is the percentage of a fund's assets that have changed over the course of a given time period, usually a year. Mutual funds with higher turnover ratios tend to have higher expenses.

3 Public Offering Price reflects deduction of maximum 5.75% sales charge. All results are historical and assume the reinvestment of dividends and capital gains. Other share classes are available for which performance and expenses will differ. Pioneer Oakridge Large Cap Growth Fund was created through the reorganization of predecessor Oak Ridge funds on 2/13/2004.

4 NAV results represent the percent change in net asset value per share. Returns would have been lower had sales charges been reflected. The Lipper Large-Cap Growth Funds Average represents the average annual returns for all Large-Cap Growth Funds for the respective time periods. The Russell 1000® Growth Index measures the performance of large-cap U.S. growth stocks. Indices are unmanaged and their returns assume reinvestment of dividends, and unlike Fund returns, do not reflect any fees or expenses. You cannot invest directly in an index. Periods less than one year are actual, not annualized.

5 Beta is a measure of the volatility of a fund relative to the overall market. A beta less than one indicates lower risk than the market; a beta greater than one indicates higher risk than the market.

6 R-squared represents the percentage of the portfolio's movements that can be explained by the general movements of the market. Index portfolios will tend to have R-squared values very close to 100.

7 Standard deviation is a statistical measure of the historic volatility of a portfolio.

Class A Shares—Sales Charge Schedule