Our small cap growth strategy invests in a diversified portfolio of small capitalization equity securities.  We hold 105 to 115 securities that, at purchase, have a capitalization less than $2 billion.  Growth characteristics (e.g. growth in earnings per share) are generally greater than those of the benchmark, while value characteristics (e.g. price/earnings ratio) are generally less than those of the benchmark.  Initial positions are usually established at 1% weights (0.5% weights for less liquid or more volatile securities), and are reduced when they appreciate to 3 to 5% weights. 

See performance disclosures.