Meridian Small Cap Growth Fund Details
Seeks long-term growth of capital by investing primarily in equity securities of small-capitalization growth companies
- Fact Sheet
- Investment Commentary
- Summary Prospectus
- Fund Prospectus
- Shareholder Report
- Proxy Information
The Merdian Small Cap Growth Fund is managed by seasoned investors who have collaborated with one another co-managing small and mid-cap growth portfolios – adhering to the same investment risk-first philosophy and research-driven process – for a combined three decades and through multiple market cycles.
The Fund seeks long-term growth of capital primarily through investments in U.S. small-capitalization growth companies. The portfolio managers utilize fundamental research to identify high-quality companies with differentiated business models, strong competitive advantages, and large barriers to entry, while adhering to a time-tested, disciplined portfolio construction process that emphasizes downside protection.
- Meridian Small Cap Growth – Institutional Share Class (qualified investors only)
- Currently closed to new investors in all other Meridian Small Cap Growth share classes
- Separately Managed Accounts
Total Returns %(As of 09/30/2023)
|1 Month||3 Months||12 Months||3 Years||5 Years||Since Inception|
|Russell 2000 Growth||-6.60%||-7.32%||9.59%||1.09%||1.55%||6.47%|
Calendar Year Returns %
|Russell 2000 Growth||11.32%||22.17%||-9.31%||28.48%||34.63%||2.84%||-26.36%|
Hypothetical Growth of $10,000 Investment Chart, Legacy Shares (MSGGX)
*Fund inception date is 12/16/13.
Performance data quoted represents past performance. Past performance is no guarantee of future results and investment returns and principal value of the Fund will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted.
A Class: Prior to 7/1/15, the A Class was named Advisor Class. The historical performance shown for periods prior to inception on 12/16/13 was calculated using historical Legacy class performance as adjusted for estimated class-specific expenses, for distribution, shareholder servicing and sub-transfer agency fees, without consideration to any expense limitation or waivers. The annual gross expense ratio is 1.50% as of 6/30/23. The net expense ratio is 1.50% as of 6/30/23. If the class had been offered prior to 12/16/13, the actual performance and expenses may have differed from the amounts shown. Performance shown for class A shares with load includes the Fund’s maximum sales charge of 5.75%. C Class: The historical performance shown for periods prior to inception on 7/1/15 was calculated using historical Legacy class performance as adjusted for estimated class-specific expenses, for distribution, shareholder servicing and sub-transfer agency fees, without consideration to any expense limitation or waivers. The annual gross expense ratio is 2.23% as of 6/30/23. The net expense ratio is 2.23% as of 6/30/23. If the class had been offered prior to 7/1/15, the actual performance and expenses may have differed from the amounts shown. Investor Class: The historical performance shown for periods prior to inception on 12/16/13 was calculated using historical Legacy class performance as adjusted for estimated class-specific expenses for shareholder servicing and sub-transfer agency fees without consideration to any expense limitation or waivers. The annual gross expense ratio is 1.24% as of 6/30/23. The annual net expense ratio is 1.24% as of 6/30/23. Institutional Class: Institutional Class Shares are not available directly to individual investors. Institutional Class Shares are also not available to retail, advisory fee-based wrap programs, or advisor-sold, donor-advised funds. Institutional Class Share investors will not incur any commission payments, account servicing fees, recordkeeping fees, Rule 12b-1 fees, transfer agent fees, administrative fees or other similar fees on Institutional Class Shares. The Minimum Initial Investment for the Institutional Class Shares of the Fund is $1,000,000; however, there is no Minimum Subsequent Investment. The Funds reserve the right to change the amount of this minimum from time to time or to waive it in whole or in part. There is no minimum initial investment requirement for retirement plan service provider platforms. The annual gross expense ratio is 1.15% as of 6/30/23. The annual net expense ratio is 1.10% after a recoupment of 0.05% as of 6/30/23. Legacy Class: The annual gross expense ratio is 1.21% as of 6/30/23. The annual net expense ratio is 1.21% as of 6/30/23.
Fund Characteristics(As of 09/30/2023)
|# of Fund Holdings:||95|
|Price/free cash flow:||10.9|
|Weighted-Average Market Cap:||$2,318mm|
Market Cap Distribution %(As of 09/30/2023)
|Less than $2 billion:||58.60%|
|$2 billion - $5 billion:||25.90%|
|$5 billion - $10 billion:||5.53%|
|Greater than $10 billion:||3.04%|
Sector Exposure %(As of 09/30/2023)
Number of Holdings: The total number of individual equities held by the Fund.
Weighted Average Market Capitalization: The weighted average of market capitalization (market price multiplied by the number of shares outstanding) of the stocks in the portfolio, weighted according to its percent held in the fund.
Price to Earnings Ratio: A valuation ratio of current share price compared to its per-share operating earnings over the previous four quarters.
Price to Cash Flow: A measure of the market’s expectations of a firm’s future financial health. Because this measure deals with cash flow, the effects of depreciation and other non-cash factors are removed.
Market Capitalization and Sector Exposure values include cash. Portfolio characteristics and sectors are subject to change. Past performance does not guarantee future results. Please refer to the glossary for specific details on each data point.
Top 10 Holdings %(As of 09/30/2023)
|QUIDELORTHO CORPORATION (QDEL):||2.98%|
|RB GLOBAL, INC. (RBA):||2.96%|
|ALIGHT, INC. (ALIT):||2.76%|
|HUDSON TECHNOLOGIES, INC. (HDSN):||2.68%|
|MATSON, INC. (MATX):||2.66%|
|ALKAMI TECHNOLOGY, INC. (ALKT):||2.31%|
|TURNING POINT BRANDS, INC. (TPB):||2.25%|
|HERITAGE-CRYSTAL CLEAN, INC. (HCCI):||2.23%|
|CONSENSUS CLOUD SOLUTIONS, INC. (CCSI):||2.19%|
|MIRION TECHNOLOGIES, INC. (MIR):||2.18%|
Holdings are subject to change.
There are risks involved with any investment. The principal risks associated with an investment in this Fund are set forth below. Please see the section “Further Information About Principal Risks” in this Prospectus for a detailed discussion of these risks and other factors you should carefully consider before deciding to invest in the Fund.
General Risk: You could lose money on your investment in the Fund or the Fund could underperform other investments.
Investment Style Risk: Although the Fund makes every effort to achieve its investment objective of long-term growth of capital, it cannot guarantee that the Investment Adviser’s investment strategies or securities selection method will achieve that objective
Market Risk: The value of the Fund’s investments will fluctuate in response to the activities of individual companies and general stock market and economic conditions and the value of your investment in the Fund may be more or less than your purchase price.
Growth Investing Risk: There is a risk that the Fund’s emphasis on investing in growth-oriented companies may underperform during times when growth investing is out of favor.
Small Company Risk: Generally, the smaller the capitalization of a company, the greater the risk associated with an investment in the company. The stock prices of smaller and newer companies tend to fluctuate more than those of larger, more established companies and have smaller market for their shares than do large capitalization companies.
Equity Securities Risk: Equity securities holders are entitled to the income and increase in the value of the assets and business of an issuer after debt obligations and obligations to debt securities holders are satisfied. Equity securities fluctuate in price in response to many factors including historical and prospective earnings of the issuer, the value of its assets, general economic conditions, interest rates, investors perceptions and market liquidity.
Foreign Company Risk: Investments in foreign securities may be subject to more risks than those associated with U.S. investments, including currency fluctuations, political and economic instability and differences in accounting, auditing and financial reporting standards. Emerging market securities involve greater risk and more volatility than those of companies in more developed markets. Significant levels of foreign taxes are also a risk related to foreign investments.
High Yield Bond Risk: Debt securities that are rated below investment grade (commonly referred to as “junk bonds”) involve a greater risk of default or price declines than investment grade securities. The market for high-yield, lower-rated securities may be thinner and less active, causing market price volatility and limited liquidity in the secondary market. This may limit the ability of a Fund to sell these securities at their fair market values either to meet redemption requests, or in response to changes in the economy or the financial markets.
Debt Securities Risk: Debt securities are subject to credit risk, interest rate risk and liquidity risk. Credit risk is the risk that the entity that issued a debt security may become unable to make payments of principal and interest when due and includes the risk of default. Interest rate risk is the risk of losses due to changes in interest rates.
Liquidity risk: The risk that the Fund may not be able to sell portfolio securities, including medium- and lower-grade securities, because there are too few buyers for them.
Investing in the market is subject to risk and possible loss of principal amount invested.
Investors should consider the investment objective and policies, risk considerations, charges, and ongoing expenses of an investment carefully before investing. The prospectus contains this and other information relevant to an investment in the fund. Please read the prospectus or summary prospectus carefully before you invest or send money. To obtain a prospectus, please contact your investment representative or access the Fund Literature for the Prospectus.
ALPS Distributors, Inc., a member FINRA, is the distributor of the Meridian Funds, advised by ArrowMark Colorado Holdings, LLC. ALPS, Meridian and ArrowMark are unaffiliated.
The information on this website is intended for U.S. residents only. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer. All rights reserved.
Not FDIC Insured | Not Bank Guaranteed | May Lose Value