Research
Research Papers
Summary Attribution
General summary of the current period performance drivers.
| Research Paper | Summary | Date |
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For both the quarter and the full year, strong stock selection superseded sector allocation as the biggest contributor to performance versus our benchmark. In particular, strong selection within consumer discretionary, information technology and industrials led the way. |
12/31/2011 |
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After dropping double digits in the September quarter, the U.S. equity markets recovered nicely in the December quarter, with the Russell 1000 Growth Index and the S&P 500 Index rallying 10.6% and 11.8% respectively. |
12/31/2011 |
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With respect to relative performance compared to the Russell Mid Cap Growth benchmark, portfolio returns benefitted from both sector allocation and stock selection. Relative performance was most positively impacted by our stock selection in Consumer Discretionary, our underweight positioning in Materials, and stock selection in Energy. Our stock selection in the Healthcare and Staples sectors were also modest boosts to relative performance. Finally, our moderately higher than normal cash position also buffered performance. |
09/30/2011 |
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For the September quarter, solid stock selection in both the consumer discretionary and technology sectors was the largest contributor to relative performance versus the Russell 1000 Growth Index and the S&P 500 Index. In addition, an overweight allocation to the consumer staples sector and an underweight allocation to financials helped returns against both indicies. |
09/30/2011 |
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For the second quarter of 2011, the Mid Cap Growth Representative Equity Account increased almost 2.0%, outperforming both the Russell Midcap Growth index and exceeding the S&P 400 Midcap index. |
06/30/2011 |
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While apprehension about sovereign debt problems resurfaced and job growth continued to underwhelm, the U.S. equity markets managed to end the quarter on a positive note. The Montag & Caldwell Representative Large Cap Growth account outperformed both the Russell 1000 Growth Index and the S&P 500 Index for the quarter. |
06/30/2011 |
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Despite the revolutionary fervor sweeping the Middle East and the devastating Japanese earthquake, tsunami, and resulting nuclear crisis, the Russell 1000 Growth Index and the broader market S&P 500 Index posted gains of 6.03% and 5.92% respectively for the March quarter. |
03/31/2011 |
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To say that US equity markets were unchanged in March is somewhat misleading. The S&P 500 corrected approximately 5% from the beginning of February through the 16th of the month amidst increasing Middle East tensions and the Japanese earthquake, only to recover most all of the decline by month end; in the end the Russell 1000 Growth Index and S&P 500 Index gained 0.12% and 0.02% for the month respectively. |
03/31/2011 |
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The Russell Midcap Growth Index and S&P 400 Index gained 7.86% and 9.36% for the quarter respectively. Small-cap stocks and mid-cap stocks outperformed large-cap stocks during March, while growth and value style results were mixed. |
03/31/2011 |
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The Russell Midcap Growth Index and S&P 400 Index gained 1.63% and 2.45% for the month respectively. Small-cap stocks and mid-cap stocks outperformed large-cap stocks during March, while growth and value style results were mixed. |
03/31/2011 |
