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All investments involve risk, including possible loss of principal. Past performance is no
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TRANSCRIPT:
WHITNEY GEORGE: We're looking at companies typically with market caps between 500 million
and ten billion. And that's sort of an interesting spot; it's, you know, not small-cap, which
we are typically defining as up to two and a half billion. I think the definition for
mid-cap would probably take you from the two and a half billion up to maybe 15 billion.
So it's sort of a no-man's zone in the style box world, which creates some interesting
opportunities.
STEVEN MCBOYLE: There's no standard way that smid-cap is defined. Most utilize the Russell
2500 which is effectively a composition of the full Russell 2000 in addition to the smallest
500 companies within the mid-cap index with Russell.
The ever-so-slight variation between smid and small is we are of the general view that
larger cap companies have a better ability to withstand economic and business stresses,
and so therefore we apply effectively a less stringent test on the balance sheets of these
larger capitalization companies. I think it's very important to emphasize the
fact that we're not reducing in any way our emphasis on small-cap companies. This is a
natural extension of that which we've done successfully within small. We're just merely
migrating that up into the market cap spectrum of mid.