Investment Strategies - Large Cap Growth
Separate Accounts
MONTAG & CALDWELL COMPOSITE MONTHLY PERFORMANCE GROSS OF FEES AS OF JUNE 30, 2010(%)
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1994 | 2.71 | -2.45 | -0.17 | |||||||||
| 1995 | 2.25 | 2.52 | 3.63 | 3.72 | 3.97 | 6.13 | 4.46 | -2.04 | 2.79 | 3.59 | 3.65 | -0.14 |
| 1996 | 5.06 | 4.48 | -0.99 | 2.53 | 4.84 | -1.38 | -4.97 | 3.03 | 10.56 | 1.86 | 7.88 | -2.41 |
| 1997 | 8.56 | -2.86 | -5.22 | 8.29 | 8.25 | 4.03 | 8.91 | -4.36 | 5.01 | -3.27 | 1.69 | 1.52 |
| 1998 | 2.34 | 8.48 | 1.71 | 2.72 | -1.89 | 6.12 | -1.90 | -15.47 | 3.25 | 9.63 | 6.83 | 8.31 |
| 1999 | 5.95 | -3.30 | 5.42 | -0.83 | -1.81 | 4.73 | -1.91 | 2.28 | -5.38 | 7.62 | 5.17 | 4.50 |
| 2000 | -5.48 | -4.61 | 7.79 | -1.10 | -1.89 | 2.39 | -4.51 | 1.14 | -5.22 | 1.81 | -2.32 | 4.59 |
| 2001 | -2.99 | -5.90 | -7.22 | 5.55 | 0.93 | -2.35 | 0.12 | -5.95 | -4.25 | 2.33 | 6.84 | 1.04 |
| 2002 | -2.43 | -1.17 | 3.63 | -5.18 | -1.91 | -7.15 | -5.81 | 0.34 | -8.96 | 6.54 | 3.81 | -5.65 |
| 2003 | -2.52 | -1.03 | 3.19 | 4.87 | 4.16 | 0.10 | 1.34 | -0.01 | -1.58 | 3.41 | -0.34 | 5.80 |
| 2004 | 0.61 | 1.85 | -0.51 | -0.39 | 1.74 | 1.12 | -5.20 | 1.01 | -0.02 | -0.44 | 1.91 | 3.72 |
| 2005 | -1.44 | 1.47 | -1.63 | -1.36 | 3.29 | -0.57 | 6.13 | 0.21 | 0.25 | -2.26 | 3.30 | -0.94 |
| 2006 | 2.61 | -1.55 | 1.62 | 0.56 | -2.61 | 0.08 | -1.05 | 1.19 | 2.11 | 3.62 | 1.58 | 0.68 |
| 2007 | 1.04 | -1.68 | 1.30 | 3.32 | 4.41 | -0.62 | 0.01 | 3.20 | 6.19 | 5.51 | -1.73 | -0.32 |
| 2008 | -11.27 | 1.15 | 0.47 | 5.60 | 4.62 | -5.86 | -0.63 | 1.10 | -9.62 | -16.70 | -4.48 | 0.25 |
| 2009 | -5.50 | -7.70 | 8.40 | 9.54 | 5.62 | -0.29 | 5.73 | 1.85 | 3.96 | -0.88 | 6.00 | 2.06 |
| 2010 | -4.03 | 2.66 | 4.96 | -0.03 | -7.85 | -4.78 |
MONTAG & CALDWELL COMPOSITE MONTHLY PERFORMANCE NET OF FEES AS OF JUNE 30, 2010(%)
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
| 1994 | 2.67 | -2.45 | -0.19 | |||||||||
| 1995 | 2.22 | 2.52 | 3.62 | 3.67 | 3.97 | 6.12 | 4.41 | -2.05 | 2.78 | 3.54 | 3.64 | -0.15 |
| 1996 | 5.00 | 4.47 | -1.00 | 2.47 | 4.83 | -1.39 | -5.03 | 3.03 | 10.55 | 1.79 | 7.88 | -2.42 |
| 1997 | 8.49 | -2.87 | -5.24 | 8.22 | 8.25 | 4.02 | 8.84 | -4.36 | 5.00 | -3.34 | 1.68 | 1.50 |
| 1998 | 2.27 | 8.46 | 1.69 | 2.64 | -1.90 | 6.11 | -1.98 | -15.48 | 3.24 | 9.56 | 6.82 | 8.30 |
| 1999 | 5.89 | -3.31 | 5.41 | -0.91 | -1.82 | 4.71 | -1.98 | 2.27 | -5.40 | 7.55 | 5.16 | 4.49 |
| 2000 | -5.55 | -4.63 | 7.78 | -1.17 | -1.91 | 2.38 | -4.58 | 1.12 | -5.24 | 1.74 | -2.34 | 4.58 |
| 2001 | -3.07 | -5.91 | -7.24 | 5.47 | 0.92 | -2.37 | 0.05 | -5.96 | -4.27 | 2.26 | 6.83 | 1.03 |
| 2002 | -2.51 | -1.18 | 3.61 | -5.25 | -1.92 | -7.16 | -5.88 | 0.33 | -8.97 | 6.47 | 3.79 | -5.66 |
| 2003 | -2.59 | -1.04 | 3.18 | 4.80 | 4.15 | 0.09 | 1.28 | -0.02 | -1.59 | 3.34 | -0.35 | 5.78 |
| 2004 | 0.54 | 1.84 | -0.52 | -0.47 | 1.73 | 1.11 | -5.27 | 0.99 | -0.04 | -0.51 | 1.89 | 3.70 |
| 2005 | -1.47 | 1.43 | -1.67 | -1.39 | 3.26 | -0.60 | 6.10 | 0.17 | 0.21 | -2.29 | 3.27 | -0.97 |
| 2006 | 2.57 | -1.58 | 1.58 | 0.53 | -2.64 | 0.05 | -1.09 | 1.16 | 2.08 | 3.59 | 1.55 | 0.64 |
| 2007 | 1.01 | -1.71 | 1.27 | 3.29 | 4.38 | -0.65 | -0.01 | 3.18 | 6.16 | 5.48 | -1.76 | -0.35 |
| 2008 | -11.30 | 1.12 | 0.44 | 5.57 | 4.59 | -5.89 | -0.65 | 1.07 | -9.64 | -16.73 | -4.51 | 0.22 |
| 2009 | -5.53 | -7.73 | 8.37 | 9.51 | 5.59 | -0.32 | 5.70 | 1.82 | 3.93 | -0.91 | 5.97 | 2.03 |
| 2010 | -4.05 | 2.63 | 4.93 | -0.06 | -7.88 | -4.81 |
MONTAG & CALDWELL COMPOSITE QUARTERLY PERFORMANCE GROSS OF FEES AS OF JUNE 30, 2010(%)
| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | |
|---|---|---|---|---|
| 1984 | -6.84 | 1.32 | 2.85 | 1.33 |
| 1985 | 5.02 | 4.81 | -2.15 | 16.97 |
| 1986 | 16.53 | 7.38 | -11.93 | 5.15 |
| 1987 | 23.98 | 2.87 | 8.22 | -18.09 |
| 1988 | 6.75 | 10.34 | -4.53 | 2.02 |
| 1989 | 7.22 | 7.22 | 9.50 | 0.53 |
| 1990 | -0.88 | 7.94 | -15.11 | 13.01 |
| 1991 | 19.26 | -1.89 | 6.22 | 17.59 |
| 1992 | 1.23 | -6.21 | 5.44 | 9.38 |
| 1993 | -0.81 | -1.79 | 5.18 | 9.05 |
| 1994 | -1.60 | -4.09 | 6.16 | 0.03 |
| 1995 | 8.64 | 14.45 | 5.18 | 7.22 |
| 1996 | 8.67 | 6.00 | 8.26 | 7.24 |
| 1997 | -0.05 | 21.96 | 9.39 | -0.15 |
| 1998 | 12.91 | 6.95 | -14.38 | 26.86 |
| 1999 | 8.01 | 1.98 | -5.08 | 18.29 |
| 2000 | -2.82 | -0.65 | -8.47 | 4.01 |
| 2001 | -15.32 | 4.02 | -9.84 | 10.48 |
| 2002 | -0.07 | -13.63 | -13.95 | 4.35 |
| 2003 | -0.44 | 9.35 | -0.27 | 9.04 |
| 2004 | 1.96 | 2.47 | -4.26 | 5.23 |
| 2005 | -1.63 | 1.31 | 6.62 | 0.02 |
| 2006 | 2.65 | -1.98 | 2.24 | 5.97 |
| 2007 | 0.64 | 7.20 | 9.61 | 3.35 |
| 2008 | -9.83 | 4.00 | -9.20 | -20.23 |
| 2009 | -5.45 | 15.35 | 11.96 | 7.23 |
| 2010 | 3.42 | -12.28 |
MONTAG & CALDWELL COMPOSITE QUARTERLY PERFORMANCE NET OF FEES AS OF JUNE 30, 2010 (%)
| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | |
|---|---|---|---|---|
| 1984 | -6.93 | 1.23 | 2.76 | 1.24 |
| 1985 | 4.93 | 4.72 | -2.24 | 16.88 |
| 1986 | 16.44 | 7.29 | -12.02 | 5.06 |
| 1987 | 23.89 | 2.78 | 8.13 | -18.18 |
| 1988 | 6.66 | 10.25 | -4.62 | 1.93 |
| 1989 | 7.13 | 7.13 | 9.41 | 0.44 |
| 1990 | -0.97 | 7.85 | -15.20 | 12.92 |
| 1991 | 19.17 | -1.98 | 6.13 | 17.50 |
| 1992 | 1.14 | -6.30 | 5.35 | 9.29 |
| 1993 | -0.90 | -1.87 | 5.09 | 8.96 |
| 1994 | -1.69 | -4.18 | 6.07 | -0.03 |
| 1995 | 8.59 | 14.39 | 5.11 | 7.15 |
| 1996 | 8.60 | 5.93 | 8.17 | 7.15 |
| 1997 | -0.14 | 21.86 | 9.30 | -0.25 |
| 1998 | 12.80 | 6.84 | -14.47 | 26.74 |
| 1999 | 7.92 | 1.88 | -5.17 | 18.18 |
| 2000 | -2.91 | -0.75 | -8.56 | 3.91 |
| 2001 | -15.41 | 3.92 | -9.94 | 10.36 |
| 2002 | -0.17 | -13.73 | -14.04 | 4.25 |
| 2003 | -0.54 | 9.24 | -0.36 | 8.94 |
| 2004 | 1.86 | 2.37 | -4.36 | 5.13 |
| 2005 | -1.73 | 1.20 | 6.51 | -0.08 |
| 2006 | 2.55 | -2.08 | 2.14 | 5.87 |
| 2007 | 0.54 | 7.11 | 9.52 | 3.27 |
| 2008 | -9.91 | 3.92 | -9.27 | -20.31 |
| 2009 | -5.54 | 15.25 | 11.86 | 7.14 |
| 2010 | 3.33 | -12.36 |
ANNUALIZED GROSS OF FEES AS OF JUNE 30, 2010(%)
| Montag & Caldwell Composite | Russell 1000 Growth Index | S&P 500 Index | |
|---|---|---|---|
| 1 Year | 8.91 | 13.62 | 14.42 |
| 3 Years | -2.95 | -6.90 | -9.81 |
| 5 Years | 2.77 | 0.38 | -0.80 |
| 7 Years | 3.91 | 2.90 | 2.84 |
| 10 Years | -0.81 | -5.13 | -1.59 |
| 15 Years | 7.35 | 5.01 | 6.22 |
| 20 Years | 9.54 | 6.74 | 7.65 |
| 25 Years | 11.26 | 8.75 | 9.52 |
ANNUALIZED NET OF FEES AS OF JUNE 30, 2010 (%)
| Montag & Caldwell Composite | Russell 1000 Growth Index | S&P 500 Index | |
|---|---|---|---|
| 1 Year | 8.53 | 13.62 | 14.42 |
| 3 Years | -3.28 | -6.90 | -9.81 |
| 5 Years | 2.40 | 0.38 | -0.80 |
| 7 Years | 3.52 | 2.90 | 2.84 |
| 10 Years | -1.19 | -5.13 | -1.59 |
| 15 Years | 6.95 | 5.01 | 6.22 |
| 20 Years | 9.15 | 6.74 | 7.65 |
| 25 Years | 10.86 | 8.75 | 9.52 |
EQUITY COMPOSITE ANNUAL/YTD GROSS OF FEES AS OF JUNE 30, 2010
| Montag & Caldwell Composite | Russell 1000 Growth Index | S&P 500 Index | Dispersion | |
|---|---|---|---|---|
| 1984 | -1.63% | -0.96% | 6.27% | 4.15 |
| 1985 | 25.98% | 32.85% | 31.75% | 1.14 |
| 1986 | 15.88% | 15.37% | 18.68% | 0.84 |
| 1987 | 13.05% | 5.31% | 5.26% | 2.35 |
| 1988 | 14.72% | 11.27% | 16.61% | 0.89 |
| 1989 | 26.55% | 35.92% | 31.71% | 0.55 |
| 1990 | 2.64% | -0.26% | -3.12% | 0.58 |
| 1991 | 46.15% | 41.16% | 30.47% | 1.02 |
| 1992 | 9.50% | 5.00% | 7.62% | 0.52 |
| 1993 | 11.73% | 2.90% | 10.08% | 1.25 |
| 1994 | 0.22% | 2.64% | 1.32% | 0.67 |
| 1995 | 40.22% | 37.19% | 37.58% | 1.17 |
| 1996 | 33.73% | 23.08% | 22.96% | 0.86 |
| 1997 | 33.14% | 30.53% | 33.25% | 0.89 |
| 1998 | 31.15% | 38.69% | 28.49% | 1.59 |
| 1999 | 23.68% | 33.16% | 21.05% | 0.55 |
| 2000 | -8.07% | -22.42% | -9.10% | 1.28 |
| 2001 | -12.25% | -20.42% | -11.88% | 0.58 |
| 2002 | -22.50% | -27.89% | -22.11% | 0.38 |
| 2003 | 18.39% | 29.76% | 28.69% | 0.59 |
| 2004 | 5.26% | 6.30% | 10.87% | 0.27 |
| 2005 | 6.28% | 5.27% | 4.90% | 0.37 |
| 2006 | 9.02% | 9.09% | 15.80% | 0.36 |
| 2007 | 22.21% | 11.82% | 5.50% | 0.57 |
| 2008 | -32.07% | -38.43% | -37.00% | 0.16 |
| 2009 | 30.94% | 37.21% | 26.45% | 0.40 |
| YTD | -9.28% | -7.64% | -6.66% | 0.14 |
EQUITY COMPOSITE ANNUAL/YTD NET OF FEES AS OF JUNE 30, 2010
| Montag & Caldwell Composite | Russell 1000 Growth Index | S&P 500 Index | Dispersion | |
|---|---|---|---|---|
| 1984 | -1.98% | -0.96% | 6.27% | 4.15 |
| 1985 | 25.55% | 32.85% | 31.75% | 1.14 |
| 1986 | 15.47% | 15.37% | 18.68% | 0.84 |
| 1987 | 12.66% | 5.31% | 5.26% | 2.35 |
| 1988 | 14.32% | 11.27% | 16.61% | 0.89 |
| 1989 | 26.12% | 35.92% | 31.71% | 0.55 |
| 1990 | 2.27% | -0.26% | -3.12% | 0.58 |
| 1991 | 45.67% | 41.16% | 30.47% | 1.02 |
| 1992 | 9.11% | 5.00% | 7.62% | 0.52 |
| 1993 | 11.35% | 2.90% | 10.08% | 1.32 |
| 1994 | -0.11% | 2.64% | 1.32% | 0.73 |
| 1995 | 39.90% | 37.19% | 37.58% | 1.27 |
| 1996 | 33.33% | 23.08% | 22.96% | 0.97 |
| 1997 | 32.67% | 30.53% | 33.25% | 0.84 |
| 1998 | 30.64% | 38.69% | 28.49% | 1.57 |
| 1999 | 23.21% | 33.16% | 21.05% | 0.64 |
| 2000 | -8.44% | -22.42% | -9.10% | 1.25 |
| 2001 | -12.61% | -20.42% | -11.88% | 0.57 |
| 2002 | -22.82% | -27.89% | -22.11% | 0.39 |
| 2003 | 17.93% | 29.76% | 28.69% | 0.64 |
| 2004 | 4.83% | 6.30% | 10.87% | 0.37 |
| 2005 | 5.85% | 5.27% | 4.90% | 0.39 |
| 2006 | 8.59% | 9.09% | 15.80% | 0.37 |
| 2007 | 21.80% | 11.82% | 5.50% | 0.58 |
| 2008 | -32.30% | -38.43% | -37.00% | 0.18 |
| 2009 | 30.47% | 37.21% | 26.45% | 0.42 |
| YTD | -9.44% | -7.64% | -6.66% | 0.16 |
Disclosure
The Institutional Equity (Large Cap Growth) Composite ("Montag & Caldwell Composite") represents the performance of all fee-paying, discretionary, institutional client, tax-exempt, large cap growth equity portfolios with values of $1 million or greater. The composite was renamed from the “Institutional Equity Composite” to the “Institutional Equity (Large Cap Growth) Composite” during the third quarter of 2007 to more accurately reflect the type of accounts that have historically been included in this composite. As of June 30, 2010 this includes 145 institutional client portfolios valued at$10,940 or 82% of the firm’s total client assets under management. Equity results were obtained using a large cap growth equity strategy. Total return figures include reinvestment of all dividends and other earnings. Past performance does not guarantee future results.
The Russell 1000 Growth Index is an unmanaged index commonly used as a benchmark to measure growth manager performance and characteristics.
The S&P 500 Index is an unmanaged index commonly used as a benchmark to measure U.S. stock market performance and characteristics.
The investment services and products described on this site are for U.S. and Canadian persons only. This site is not to be construed as an offer or solicitation of any investment services or products to investors residing outside the United States or Canada.
This site is controlled and monitored from the United States of America and no representation is made that materials are appropriate or available for use in other locations.
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