Kalmar Growth-with-Value Small CapKGSCX

Morningstar Rating

Fund Research and Analysis

by Dan Culloton

Kalmar Growth-with-Value Small Cap has lots of positives and one big strike.

The fund has experienced management, a clearly defined and consistently executed process, and a history of success. But it also has a high expense ratio. The high fees don't Read more

Kudos

Relatively low volatility.

Solid strategy with long-term perspective.

Experienced management.

Managers think and act like owners. Read more

Risks

This fund can lag in speculative rallies.

Expenses are on the high side for a no-load small-cap fund.

Fund has trounced the Russell 2000 Growth Index over the long term, but it has had trouble beating the S&P SmallCap 600/Citigroup Growth Index, which has a rudimentary profitability, or quality, screen for its constituents--a worrisome trend for a fund that focuses on high-quality stocks. Read more

Strategy

Management invests in established, well-managed companies with above-average revenue and earnings growth, and it likes to buy them when they are cheap. This results in a portfolio of stocks that are Read more

Management

Ford Draper Jr. established Kalmar Investments in 1982, using this same strategy to manage separate accounts. Eight other team members provide investment research. Half of them have at least 10 years of experience at Kalmar in addition to other industry Read more

Inside Scoop

This growth fund has seen its fortunes rise as valuation has become a consideration among small-growth stocks. It sat out the growth-stock rally of 1999, but it has demonstrated Read more

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