Small 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 SMALL CAP GROWTH FUND

INVESTMENT OBJECTIVE
Capital appreciation

RIPE WITH GROWTH POTENTIAL
This portfolio is invested primarily in equity securities of U.S. small-capitalization companies that we deem to be poised for future growth. Our investment team follows an actively managed, stock-by-stock approach to select companies that may provide bright business prospects and reasonable valuations.

EMERGING BLUE CHIPS
By focusing on high-quality, small-cap companies with accelerating earnings and strong fundamentals, we seek to identify emerging blue-chip companies in their infancy.

TOP 10 HOLDINGS as of 9/30/20171

Ligan Pharma 3.3% Watsco 2.5%
Omnicell 3.2 Beacon Roofing 2.5
A.O. Smith 2.6 Five Below 2.4
Ollie’s Bargain Outlet 2.6 Pool Corp 2.4
Bright Horizons 2.5 Sage Therapeutics 2.4

Portfolio Characteristics as of 9/30/20172

Weighted Avg. Market Cap $3.8B
Median Market Cap $3.0B
Average Price/Earnings Ratio (Forecast) 24.5
Turnover 32%

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 9/30/20173

YTD 1-Year 3-Year 5-Year 10-Year Since Inception
Class A (NAV) 11.09% 8.46% 4.90% 9.59% 7.09% 9.86%
Class A (POP) 4.71 2.23 2.85 8.30 6.45 9.58
Class I (NAV) 11.39 8.82 5.25 9.99 7.37 9.98
Russell 2000® Growth Index 16.81 20.98 12.17 14.28 8.47 7.61

Calendar Year Returns as of 9/30/20174

2017 YTD 2016 2015 2014 2013 2012 2011
Class A (NAV) 11.09% 2.15% -4.65% 3.91% 38.99% 10.56% 0.92%
Class I (NAV) 11.39 2.52 -4.37 4.28 39.55 11.00 1.22
Russell 2000® Growth Index 16.81 11.32 -1.38 5.60 43.30 14.59 -2.91
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 Small 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: ORIGX
Class C: ORICX
Class K: ORIKX
Class I: ORIYX

Gross Expense Ratio

Class A: 1.34%
Class I: 1.05%

Inception Date

Class A: 1/3/1994
Class I: 12/29/2009

Management Fee

0.82%

CUSIP

Class A: 46141P123
Class I: 46141P156

Distribution

Annual

Min. Investment

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

Total Net Assets

$775mm as of 9/30/2017

Total Holdings

63 as of 9/30/2017

PORTFOLIO MANAGERS

  • klaskin

    DAVID M. KLASKIN

    Lead Portfolio Manager

    Learn more

  • mcvicker

    ROBERT G. MCVICKER

    Portfolio Manager

    Learn more

Top Sectors

as of 9/30/2017

Healthcare 27.5%
Technology 24.6
Consumer Discretionary 21.4
Industrials 14.7
Financial 4.7

Portfolio Allocation

Due to rounding, figures may not total 100%.
U.S. Equities 90%
International Equities 7
Cash 3

Risk Measures

10yr as of 9/30/2017

As compared to the Russell 2000® Growth Index
Beta5 0.84
R-squared6 93.12
Standard Deviation (Fund)7 17.84
Standard Deviation (Benchmark) 20.48


Important Risks: Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate. Investments made in small capitalization companies may be more volatile and less liquid due to limited resources or product lines and more sensitive to economic factors. 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.

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 Small-Cap Growth Funds Average represents the average annual returns for all Small-Cap Growth Funds for the respective time periods. The Russell 2000® Growth Index measures U.S. small-cap 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