Morningstar Style Box
Val. Core GR. 

SMID Opportunities Fund
Equity Funds

  • a Shares (SMDPX)
    Inception: 09.30.2016
  • c Shares (SMDQX)
    Inception: 09.30.2016
  • i Shares (SMDOX)
    Inception: 09.30.2016

Fund Overview

Philosophy and Process

To pursue its investment objective of long-term capital appreciation, the Fund normally invests principally in equity securities and will invest, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in the securities of small or middle capitalization companies (commonly referred to collectively as "SMID"). Small or middle capitalization companies are defined as companies with market capitalizations within the range of those companies in the Russell 2500™ Index at the time of purchase.

The Fund invests, under normal market conditions, primarily in domestically-traded U.S. common stocks and U.S.-traded equity stocks of foreign companies, including ADRs. The Fund uses a multi-style approach, meaning that it invests across both value- and growth-oriented companies targeting SMID-capitalization levels.

Investment Considerations

The newly formed fund has no operating history to evaluate and the risk that it may not attract sufficient assets to achieve or maximize investment and operational efficiencies. The Fund uses a multi-style approach and invests in both growth and value-oriented companies. A growth investment style may be particularly sensitive to market conditions. Value investing involves the risk that an investment made in undervalued securities may not appreciate in value as anticipated or remain undervalued for long periods of time.

The Fund invests in small and middle capitalization companies which may be riskier, more volatile and vulnerable to economic, market and industry changes than investments in larger more established companies. As a result, share price changes may be more erratic or trade less frequently in lesser quantities.

Fund Facts
Class A Shares Class C Shares Inst'l Shares
Inception Date 09/30/2016 09/30/2016 09/30/2016
Investment Minimum $1,000.00 $1,000.00 $1,000,000.00
Subsequent Investment Minimum* $0.00 $0.00 $0.00
Max. Up Front Sales Charge 5.75% N/A N/A
Max. Deferred Sales Charge N/A 1.00% N/A

*If subsequent investments are made as part of an AIP, the minimum is $25.



Average Annual Total Returns as of (03/31/2018)
Class A Shares Class C Shares Inst'l Shares
without sales charge with 5.75% sales charge without sales charge with 1.00% sales charge
3 Months -3.34% -8.93% -3.51% -4.47% -3.27%
YTD -3.34% -8.93% -3.51% -4.47% -3.27%
1 Year 2.53% -3.33% 1.76% 1.76% 2.77%
3 Years 0.00% 0.00% 0.00% 0.00% 0.00%
5 Years 0.00% 0.00% 0.00% 0.00% 0.00%
10 Years 0.00% 0.00% 0.00% 0.00% 0.00%
Since Inception 9.85% 5.60% 9.05% 9.05% 10.13%

The gross expense ratios for Class A, C and I Shares are 1.26%, 2.01% and 1.01%, respectively. The net expense ratios for Class A, C and I Shares are 1.04%, 1.79% and 0.79%, respectively. The Fund's adviser has contractually agreed to waive its fees, pay Fund operating expenses, and/or reimburse the Fund to the extent that Total Annual Fund Operating Expenses (other than acquired fund fees and expenses, interest, taxes, and extraordinary expenses) for the Fund's Institutional Shares, exceed 0.79% of the Institutional Shares' average daily net assets for the period from February 1, 2018 through January 31, 2019. This contractual limitation may be terminated during this period only by the Fund's Board of Trustees, and will automatically terminate upon termination of the Investment Advisory Agreement between the Fund and Sterling Capital Management LLC ("Sterling Capital").

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit

The performance of the SMID Opportunities Fund reflects the deduction of fees for value-added services associated with a mutual fund, such as investment management and fund accounting fees. The inception date for Class A Shares is 9/30/16. The inception date for Class C Shares is 9/30/16. The performance shown reflects the reinvestment of all dividend and capital gains distributions.

Performance Summary


Top 10 Holdings
as of (03/31/2018)
Centene Corp.5.56%
ServiceMaster Global Holdings, Inc.5.27%
Ball Corp.4.91%
Global Payments, Inc.4.77%
Universal Health Services, Inc.4.51%
Amdocs, Ltd.4.39%
Premier, Inc.4.23%
Webster Financial Corp.4.16%
Fiserv, Inc.3.95%

Current and future portfolio holdings are subject to change and risk.Based on
Market Value of securities.

Sector Breakdown
as of (03/31/2018)

Hover over slice to view more info.

Sector Breakdown
as of (03/31/2018)
Sector Fund
Real Estate 3.45%
ENERGY 3.02%
Cash & Equivalents 0.89%

Allocations are based on the current weight to funds in the cited Sector. The composition of the fund's holdings is subject to change.

Current and future portfolio holdings are subject to change and risk.


Portfolio Ratios
as of (03/31/2018)
P/E Ratio 20.37
P/B Ratio 3.04
Annual Turnover 47%


Sterling Capital Funds are:

Not a deposit - Not FDIC insured - Not guaranteed by the bank - Not insured by any government agency - May lose value

An investor should consider a fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the Sterling Capital Funds can be found in the Funds' prospectus. To obtain a prospectus, please call 1 (888) 228-1872 or click here. Please read the prospectus carefully before investing.

Sterling Capital Management LLC, a separate subsidiary of BB&T Corporation, serves as investment adviser to the Sterling Capital Funds and is paid a fee for its services as described in the prospectus. The Funds are distributed by Sterling Capital Distributors LLC, which is not affiliated with Branch Banking and Trust Company or its affiliates. The Funds are not insured by the FDIC or any other government agency