Overview

Relative to peers, the Fund has had lower volatility, higher risk-adjusted returns and lower downside capture.1

Since Fund inception ended 09/30/2017

  • Class A at NAV
  • Morningstar Large Growth Average

Historical Returns (%)as of Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
10/31/2017
Fund at NAV 2.42 4.07 16.80 21.12 10.38 13.34 14.32
Russell 1000® Index2 2.29 4.80 16.78 23.67 10.57 15.17 15.21
09/30/2017
Fund at NAV 1.81 2.59 14.04 13.93 10.87 12.55 14.07
Russell 1000® Index2 2.13 4.48 14.17 18.54 10.62 14.26 15.00
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. The share class has no sales charge.

Fund Factsas of Oct 31, 2017

Class I Inception 01/03/2012
Investment Objective Long-term capital growth
Total Net Assets $369.2M
Expense Ratio (Gross)3 0.90%
Expense Ratio (Net)3,4 0.80%
CUSIP 277902458

Top 10 Holdings (%)5,6as of Sep 30, 2017

Markel Corp
Ball Corp
US Bancorp
TJX Cos Inc
White Mountains Insurance Group Ltd
Visa Inc
Affiliated Managers Group Inc
ANSYS Inc
Aramark
DENTSPLY SIRONA Inc
Total 47.56

Portfolio Management

William O. Bell IV, CFA Managed Fund since inception
W. Matthew Hereford, CFA Managed Fund since inception
Charles B. Reed, CFA Managed Fund since inception

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%)as of Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
10/31/2017
Fund at NAV 2.42 4.07 16.80 21.12 10.38 13.34 14.32
Russell 1000® Index2 2.29 4.80 16.78 23.67 10.57 15.17 15.21
Morningstar Large Growth Category7 3.12 5.72 23.60 26.56 10.57 15.09
09/30/2017
Fund at NAV 1.81 2.59 14.04 13.93 10.87 12.55 14.07
Russell 1000® Index2 2.13 4.48 14.17 18.54 10.62 14.26 15.00
Morningstar Large Growth Category7 1.41 5.29 19.85 19.75 10.36 13.70
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. The share class has no sales charge.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 29.64 11.59 2.92 5.87
Russell 1000® Index2 5.77 -37.60 28.43 16.10 1.50 16.42 33.11 13.24 0.92 12.05

Fund Facts

Expense Ratio (Gross)3 0.90%
Expense Ratio (Net)3,4 0.80%
Class I Inception 01/03/2012
Distribution Frequency Annually

Risk Measures (3 Year)8as of Oct 31, 2017

Alpha (%) 0.78
Beta 0.91
R-Squared (%) 88.29
Standard Deviation (%) 9.76
Sharpe Ratio 1.03

Morningstar Rating™as of Oct 31, 2017

Time Period Rating Funds in
Large Growth
Category
Overall ** 1233
3 Years *** 1233
5 Years ** 1107
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Star ratings do not reflect the effect of any applicable sales load.

©2017 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

NAV History

Date NAV NAV Change
Nov 21, 2017 $20.86 $0.10
Nov 20, 2017 $20.76 $0.05
Nov 17, 2017 $20.71 $0.07
Nov 16, 2017 $20.64 $0.14
Nov 15, 2017 $20.50 -$0.04
Nov 14, 2017 $20.54 -$0.06
Nov 13, 2017 $20.60 $0.04
Nov 10, 2017 $20.56 -$0.10
Nov 09, 2017 $20.66 -$0.06
Nov 08, 2017 $20.72 -$0.02

Distribution History9

Ex-Date Distribution Reinvest NAV
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

Capital Gain History9

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 08, 2016 $0.00320 $17.93
Dec 10, 2015 $0.10630 $0.43990 $16.93
Dec 11, 2014 $0.02980 $0.18520 $16.57
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)6,10as of Sep 30, 2017

U.S. Common Stocks 88.92
Foreign Common Stocks 7.56
Cash 3.52
Total 100.00

Portfolio Statisticsas of Sep 30, 2017

Average Market Cap $45.6B
Price/Earnings Ratio 22.21
Number of Holdings 29
Price/Book Ratio 3.52

GICS Sector Breakdown (%)6as of Sep 30, 2017

Sector Fund Russell 1000® Index2
Consumer Discretionary 13.86 12.22
Consumer Staples 5.35 7.72
Energy 5.92
Financials 21.89 14.77
Health Care 17.69 13.83
Industrials 4.81 10.50
Information Technology 19.19 22.80
Materials 11.71 3.34
Real Estate 1.99 3.71
Telecom Services 2.09
Utilities 3.10
Cash 3.52

Market Cap Breakdown (%)6,11as of Sep 30, 2017

> $150 Billion 8.64
$50-150 Billion 16.33
$15-50 Billion 24.90
$5-15 Billion 45.24
$1.5-5 Billion 4.89
< $1.5Billion 0.00

Fund Holdings (%)6,12as of Sep 30, 2017

Holding % of Net Assets
Markel Corp 8.02%
Ball Corp 5.69%
US Bancorp 5.13%
TJX Cos Inc 4.96%
White Mountains Insurance Group Ltd 4.72%
Visa Inc 4.14%
Affiliated Managers Group Inc 4.03%
ANSYS Inc 3.78%
Aramark 3.62%
EV Cash Reserves Fund LLC 3.52%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Insights & Analysis

Commentary

No commentary information is currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

Attribution

No attribution information is currently available.

Additional Notes 

Source: Factset.

Attribution analysis shows the contribution of indicated factor exposures to a portfolio's relative total return versus a designated benchmark. Results are based on each day's ending holdings, and linked to generate attribution over longer periods. Portfolio returns do not reflect applicable expenses and trading costs, or variations in transaction prices from end of day values.

Allocation Effect 

Measures portfolio's excess return due to over or under-weighting a sector.

Selection Effect 

Measures portfolio's excess return from selecting individual stocks within each sector.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

Fund performance is sensitive to stock market volatility. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Biography
William O. Bell IV, CFA

William O. Bell IV, CFA

Vice President and Principal
Atlanta Capital Management
Joined Atlanta Capital 1999

Bill Bell is a vice president and principal of Atlanta Capital Management Co., LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He serves as a portfolio manager on the firm's core equity team.

Bill began his career in the investment management industry in 1995. Prior to joining the firm in the fall of 1999, Bill was a portfolio manager with the Florida State Board of Administration. He was responsible for managing their internal special situation equity fund.

Bill earned a B.S. in finance from Florida State University and is a CFA charterholder.

Education
  • B.S. Florida State University

Experience
  • Managed Fund since inception

Other funds managed
 
Biography
W. Matthew Hereford, CFA

W. Matthew Hereford, CFA

Vice President and Principal
Atlanta Capital Management
Joined Atlanta Capital 2002

Matt Hereford is a vice president and principal of Atlanta Capital Management Co., LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He serves as a portfolio manager on the firm's core equity team.

Matt began his career in the investment management industry in 1995. Prior to joining the firm in December 2002, Matt was affiliated for five years with INVESCO, where he was responsible for managing their Concentrated Equity portfolio.

Matt earned a B.B.A. in international business from the University of Mississippi. He is a CFA charterholder and is a member of the Atlanta Society of Financial Analysts.

Education
  • B.B.A. University of Mississippi

Experience
  • Managed Fund since inception

Other funds managed
 
Biography
Charles B. Reed, CFA

Charles B. Reed, CFA

Vice President and Managing Director
Atlanta Capital Management
Joined Atlanta Capital 1998

Charles Reed is a managing director-core equities and principal of Atlanta Capital Management Co., LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He serves as a portfolio manager on the firm's core equity team.

Chip began his career in the investment management industry in 1989. Prior to joining the firm in 1998, Chip was a portfolio manager with the Florida State Board of Administration responsible for managing their internal special situation equity fund.

Chip earned a B.S. in finance from Florida State University and is a CFA charterholder.

Education
  • B.S. Florida State University

Experience
  • Managed Fund since inception

Other funds managed
 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2017

Commentary

Download - Last updated: Sep 30, 2017

Market Commentary

Download - Last updated: Sep 30, 2017

Attribution

Download - Last updated: Sep 30, 2017

Annual Report

Download - Last updated: Sep 30, 2017

Full Prospectus

Download - Last updated: Feb 1, 2017

Holdings-1st or 3rd fiscal quarters-www.sec.gov

Download

SAI

Download - Last updated: Feb 1, 2017

Semiannual Report

Download - Last updated: Mar 31, 2017

Summary Prospectus

Download - Last updated: Apr 10, 2017

XBRL

Download - Last updated: Feb 13, 2017