DURHAM, N.C., March 30, 2012 (GLOBE NEWSWIRE) -- Verity's Small Mid Cap Value portfolio has received multiple #1 and top ten rankings for the performance periods ending 12/30/2011 by PSN Informa, one of the largest separately managed account databases.
The portfolio was ranked "Best of the Best":
- #1 for the 1-year time period in the Small Mid Value universe out of 68 products,
- #1 for the 1-year time period in the Small Mid Cap universe out of 210 products,
- #1 for the 1-year time period in the Small Cap Value universe out of 232 products, and
- #1 for the 3-year time period in the Small Mid Value universe out of 68 products.
"The portfolio's 3-year performance is something we hope to continue building on," says portfolio manager Steve Lewis. "A consistent stock selection process has enabled the portfolio to identify companies that we believe are undervalued by the market." As of 12-31-2011, top portfolio holdings included DeVry, Inc., which provides educational services worldwide, and Best Buy, a major retailer of consumer electronics. "These stocks are typical of the portfolio holdings – profitable, fairly valued companies with a dividend, but that may have had depressed share prices due to short term uncertainties."
The portfolio also received four top ten "Bull and Bear Master" rankings, including being ranked:
- #1 in the Small Mid Value universe,
- #2 in the Small Cap Value universe,
- #4 in the Small Mid Cap universe, and
- #4 in the US Value universe.
(To qualify for the rankings, a product must have, for the recent three year period, an R-squared of 0.80 or greater relative to the style benchmark, an Upside Market Capture ratio of 100 or more, and a Downside Market Capture ratio of 100 or less. Verity's Small Mid Cap Value portfolio had the highest ratio of Upside Market Capture to Downside Market Capture in the Small Mid Value universe, as well as a top four ratio in the Small Cap Value, Small Mid Cap, and US Value universes.)
"This strategy's relative performance in both up and down markets has been generating a lot of interest," says Verity's CIO Gordon Wegwart.
The strategy is led by Steve Lewis, who brings nearly 25 years of investment experience to the development of the security selection process used in managing this portfolio. Steve has been a member of Verity's investment management team since 2006. Previously, Steve worked for Dreyfus and JPMorgan Chase, and also managed the Global Navigator Fund L.P., a hedge fund.
PSN Informa is a service of Informa Investment Solutions (IIS), the investment industry's leading premier provider of online applications and outsourced services, including data management and performance measurement. For more information on Informa Investment Solutions, visit www.informais.com.
All investing involves risk of loss, and past performance provides no guarantee of future results.
About Verity
Verity Asset Management, Inc. is an SEC-Registered Investment Adviser that provides investment advisory services encompassing multiple lines of business, including: (1) Comprehensive account management for Individual Investors; (2) Consulting and investment advisory services to Retirement Plan Sponsors, with expertise in both the educational tax-exempt and corporate 401(k) plans markets; (3) Institutional Account management, with a focus on small endowments and foundations; and (4) Investment Adviser Solutions, providing turnkey account management platforms for other advisory firms.
Established in 1996, Verity has over 25 investment advisory personnel in four locations. Verity maintains headquarters at Diamond View II overlooking the Durham Bulls Athletic Park in Durham's historic American Tobacco Historic District.
The Verity Asset Management, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11769