Nuance Mid Cap Value Fund Institutional CL · NASDAQ:NMVLX
Nuance Mid Cap Value Fund Institutional CL — Nuance Investments — Corporate Update (2016)
15 slides from Nuance Mid Cap Value Fund Institutional CL's corporate update, 2016
Slide 1: Semi-Annual Call: Nuance Mid Cap Value
Value. Delivered. Nuance Investments, LLC Semi- Annual Call: Nuance Mid Cap Value Scott Moore, CFA President & Chief Investment Officer
Slide 2: Agenda
Agenda • Firm Overview • Team Update • Process Summary • 2016 Mid-Year Review • 2016 Mid-Year Outlook • Conclusion © 2016 Nuance Investments · LLC www.nuanceinvestments.com Page 2
Slide 3: History of Nuance
History of Nuance • Nuance Investments, LLC (Nuance) is a classic value investment firm established in 2008. • Nuance was co-founded by Scott Moore, CFA, a former senior portfolio manager at American Century Investments, where he managed multiple 5-Star rated4 products and over $13 billion in assets
Slide 4: Nuance's Investment Team
Nuance’s Investment Team President & Chief Investment Officer Vice President & Portfolio Manager Scott Moore, CFA Chad Baumler, CFA Scott.Moore@nuanceinvestments.com Chad.Baumler@nuanceinvestments.com Experience Experience • 24+ years of investment analyst experience • 9 years of investment analyst
Slide 5: Nuance Investment Process
Nuance Investment Process Proprietary Proprietary Quantitative Competitive Financial Portfolio Valuation Screening Analysis Statement Construction Study Analysis © 2016 Nuance Investments · LLC www.nuanceinvestments.com Page 5
Slide 6: 2016 Mid-Year Review
2016 Nuance Mid Cap Value Mid-Year Review Nuance Mid Cap Value November 3, 2008 - June 30, 2016 Since Since YTD 3 Years 5 Years 7 Years Inception Inception 2016 1 Year APR APR APR APR TR Nuance Mid Cap Value Composite (Gross) 7.71 5.53 12.90 14.11 18.27 17.20 237.06 Nuance Mid Cap Value Composite (N
Slide 7: 2016 Mid-Year Review: Risk & Reward
2016 Nuance Mid Cap Value Mid-Year Review Nuance Mid Cap Value November 30, 2008 - June 30, 2016 Since Inception Since Inception Since Inception APR Standard Deviation (A) Sharpe Ratio (A) Nuance Mid Cap Value Composite (Gross) 18.30 14.36 1.27 Nuance Mid Cap Value Composite (Net) 17.44 14.39 1.21 M
Slide 8: 2016 Mid-Year Review
2016 Nuance Mid Cap Value Mid-Year Review Inline performance thru first half of 2016 • Nuance Mid Cap Value up 7.3% vs Russell Midcap Index up 8.9% and S&P 500 Index up 3.8% Positive Stock Selection • Utilities: NFG • Materials: FUL • Financials: BOKF, CBSH & NTRS • Healthcare: PDCO Negative Attribu
Slide 9: 2016 Mid-Year Outlook
2016 Nuance Mid Cap Value Mid-Year Outlook Issues Leading to Opportunities and Risks • Low Interest rates • Debt levels at non- finance companies • Clear valuation disparities exist today due to generic safety and yield focus Positive Risk Reward • Select Financials • Select Energy Equipment and Ser
Slide 10: 2016 Mid-Year Outlook Summary
2016 Nuance Mid Cap Value Mid-Year Outlook Summary • Opportunities continue to exist but the group is narrower – normal late cycle issue • Overall Risk Reward versus the market • Clear valuation disparities exist today due to generic safety and yield focus Holdings identified do not represent all of
Slide 11: Why Nuance?
Why Nuance? • Consistent and Experienced Team • Consistent Time Tested Process • Consistent Performance both Absolute and Risk-Adjusted Value. Delivered. © 2016 Nuance Investments · LLC www.nuanceinvestments.com Page 11
Slide 12: Disclaimer and Notes
Disclaimer and Notes Not An Offer or Inducement Nuance Investments, LLC’s (Nuance or the Company) presentation book has been prepared for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in the Company or any related or associated company. Any
Slide 13: Disclaimer and Notes Continued
Disclaimer and Notes Continued which standard deviation for the five year period is equal or less than the median standard deviation for the peer group. The top ten information ratios for the latest five-year period then become the TOP GUNS. (2) Nuance Concentrated Value Composite received PSN Bull
Slide 14: GIPS Compliance Disclosures
GIPS Compliance Disclosures Nuance Mid Cap Value Composite 3 Year Number of Annualized 3 Year Separate Standard Annualized Gross Net of Benchmark Benchmark Composite Accounts Total Composite % of Non- Deviation Standard of Fees Fees Return Return Dispersion (End of Assets Total Firm Assets Fee Payin
Slide 15: GIPS Compliance Disclosures Continued
GIPS Compliance Disclosures Continued $100 million, and .65% for clients with assets greater than $100 million. Nuance reserves the right to modify fee structures on an account by account basis at its discretion. The firm does not currently assess any Performance Based Fees. From the inception of ea