Separately managed accounts

Ranked by first-quarter returns

Jun 16, 2014 @ 3:20 pm

U.S. large-cap equity

Product1Q return1-year return3-year return5-year return5-year std dev5-year Sharpe ratioAssets ($M)ManagerLocation
Reaves Asset Management - Long Term Value (Utility/Energy Infrastructure)7.13%15.79%12.00%18.65%13.61%1.36$1,156.4 TeamJersey City, N.J.
Snow Capital Management - Large Cap Value*6.27%32.17%16.18%25.45%23.02%1.1$402.0 TeamSewickley, Pa.
Matrix Asset Advisors Inc. - Large Cap Relative Value4.75%31.36%11.06%20.07%21.69%0.92$815.2 TeamNew York
Hellman Jordan Management Co., Inc. - Hellman Jordan Opportunistic Growth Strategy4.63%27.62%14.22%23.55%21.04%1.11$515.0 TeamBoston
Equity Investment Corp. - Large Cap Value4.52%17.73%14.81%20.90%12.98%1.6$461.9 TeamAtlanta
Mount Lucas Management Corp. - MLM Focused Equity4.40%29.60%15.28%26.46%21.78%1.21$318.2 TeamNewtown, Pa.
Federated Investors Inc. - Strategic Value Dividend4.29%15.71%14.97%18.96%10.38%1.81$13,198.6 TeamPittsburgh
Argent Capital Management - Large Cap Equity4.27%25.55%16.91%22.95%18.39%1.24$2,351.4 TeamSt. Louis
Dana Investment Advisors Inc. - Socially Responsible Equity4.24%28.38%15.88%22.07%15.77%1.39$252.2 TeamBrookfield, Wis.
BRC Investment Management- Large Cap Concentrated Equity4.05%23.98%16.55%21.92%17.75%1.23$437.6 TeamGreenwood Village, Colo.
Capstone Asset Management Co. - Theta Growth (Covered Call)3.94%17.18%11.27%15.70%12.79%1.22$216.1 TeamHouston
Raub Brock Capital Management - Raub Brock Dividend Growth Portfolio3.83%20.17%16.61%22.61%13.50%1.67$456.0 TeamLarkspur, Calif.
Dana Investment Advisors Inc. - Large Cap Equity3.78%24.25%15.61%21.56%15.93%1.35$1,603.8 TeamBrookfield, Wis.
Cohen & Steers Capital Management - Large Cap Value Strategy3.73%23.67%14.77%19.00%15.50%1.22$2,890.4 Richard HelmNew York
Manning & Napier Advisors - U.S. Core Equity*3.67%24.38%12.81%20.81%18.46%1.12$3,460.5 TeamFairport, N.Y.
S&P 5001.80%21.86%14.66%21.16%16.07%1.31

U.S. midcap equity

Product1Q return1-year return3-year return5-year return5-year std dev5-year Sharpe ratioAssets ($M)ManagerLocation
Kennedy Capital Management - Mid Cap Value6.86%25.39%14.51%24.72%18.58%1.32$214.1 Frank Latuda Jr.St. Louis
Bennett Lawrence Management - Mid Cap Growth Equity*6.21%28.05%13.50%23.39%21.25%1.1$346.3 TeamNew York
Miller Howard Investments Inc. - Utilities + Infrastructure5.42%20.43%11.51%19.72%15.31%1.28$211.6 TeamWoodstock, N.Y.
Fairpointe Capital - Fairpointe Capital Mid Cap Core5.16%32.98%17.81%31.14%22.94%1.35$7,620.2 TeamChicago
Advisory Research - Advisory Research Master Limited Partnerships4.43%13.69%14.97%29.28%15.58%1.87$4,233.8 TeamChicago
J.P. Morgan Asset Management - Mid Cap Growth4.43%32.83%14.25%24.27%19.94%1.21$5,439.5 Timothy PartonNew York
HGK Asset Management Inc. - Mid Cap Value4.21%22.94%12.93%24.69%18.96%1.3$455.6 Paul CarlsonJersey City, N.J.
Earnest Partners - Mid Cap Value4.18%25.25%12.60%24.14%19.48%1.23$831.0 Paul VieraAtlanta
TCW Investment Management Co. - TCW Value Opportunities (Mid-Cap Value)4.10%26.01%15.58%24.04%20.61%1.16$317.7 Diane JaffeeLos Angeles
Earnest Partners - Mid Cap Core4.03%23.17%13.43%25.11%18.97%1.32$1,071.0 Paul VieraAtlanta
The Boston Company Asset Management - US Mid Cap Opportunistic Value4.02%29.12%15.46%28.40%22.89%1.24$6,737.1 David A. DaglioBoston
Robeco Investment Management Inc. - BP Mid Cap Value Equity4.00%30.07%17.66%27.85%19.55%1.42$11,771.3 TeamNew York
Denver Investment Advisors (Westcore) - Concentrated Mid Cap Growth3.67%34.13%4.32%20.59%24.29%0.84$123.5 Mitch BegunDenver CO
Ceredex Value Advisors - Mid Cap Value3.64%23.33%13.79%26.32%21.80%1.2$4,718.0 Donald A. WordellOrlando, Fla.
Thompson Siegel & Walmsley - TSW Mid Cap Value SMA3.46%25.99%17.34%22.92%15.63%1.46$361.2 Brett P. HawkinsRichmond, Va.
Russell Midcap3.53%23.51%14.39%25.55%19.09%1.33

U.S. small cap equity

Product1Q return1-year return3-year return5-year return5-year std dev5-year Sharpe ratioAssets ($M)ManagerLocation
Fox Asset Management - Small Cap Value Equity4.45%24.90%14.19%23.23%18.16%1.27$363.3 TeamRed Bank, N.J.
Tributary Capital Management - Small Cap Equity3.61%25.67%13.84%26.15%19.60%1.33$388.9 TeamOmaha, Neb.
Reinhart Partners Inc. - Small Cap Opportunity3.48%26.11%13.94%23.31%20.41%1.14$111.4 TeamMequon, Wis.
Delaware Investments - Small Cap Value3.11%22.75%13.74%26.03%19.09%1.36$3,969.3 TeamPhiladelphia, Pa.
SouthernSun Asset Management - Small Cap2.85%27.98%18.57%36.16%24.35%1.48$3,038.5 Michael W. Cook Sr.Memphis, Tenn.
Netols Asset Management - Small Cap Value2.68%26.45%12.69%22.64%21.51%1.05$1,092.8 Jeffrey W. NetolsMequon, Wis.
Dalton, Greiner, Hartman, Maher & Co. - DGHM V2000 SmallCap Value2.58%24.44%14.12%23.98%17.97%1.33$681.6 TeamNew York
The Boston Company Asset Management- Small Cap Growth2.58%36.30%15.75%23.75%18.66%1.27$426.3 Todd WakefieldBoston
Morgan Dempsey Capital Management - Small Cap Value - Institutional2.41%28.20%13.70%22.99%16.08%1.42$469.0 TeamMilwaukee, Wis.
Chartwell Investment Partners - Small Cap Value2.26%25.26%15.86%27.06%18.74%1.44$1,256.6 TeamBerwyn, Pa.
GW Capital Inc. - Small Cap Equity2.13%17.69%11.45%26.19%23.24%1.12$1,360.1 TeamBellevue, Wash.
Dalton Greine Hartma Maher & Co. - Micro Capitalization2.00%27.25%18.14%23.43%15.86%1.47$102.5 TeamNew York
Investment Counselors of Maryland - Small Cap Equity1.75%24.51%14.02%26.03%22.35%1.16$2,332.6 TeamBaltimore
Earnest Partners - Small Cap Value1.73%24.87%14.34%24.39%18.87%1.29$3,412.0 Paul VieraAtlanta
Cambiar Investors - Small Cap Value1.58%26.44%13.21%28.39%22.91%1.23$2,742.2 TeamDenver
Russell 20001.12%24.90%13.18%24.31%20.35%1.19

International, global, emerging-markets equity

Product1Q return1-year return3-year return5-year return5-year std dev5-year Sharpe ratioAssets ($M)ManagerLocation
Brandes Investment Partners - European Equity7.88%39.96%11.96%21.14%24.97%0.84$372.0 TeamSan Diego
Federated Investors Inc. - International Strategic Value Dividend4.33%14.07%10.56%16.55%15.83%1.04$769.6 TeamPittsburgh
Aristotle Capital Management - Value Equity4.20%22.73%15.15%22.84%16.64%1.37$5,682.8 Howard GleicherLos Angeles
Delaware Investments - International Equity ADR3.68%21.58%8.93%14.79%16.45%0.89$3,764.6 TeamPhiladelphia
Good Harbor Financial - Tactical Equity Income3.35%0.67%3.81%29.19%35.36%0.82$243.8 Jeffrey KimChicago
Causeway Capital Management - Global Value Equity3.05%28.93%13.47%25.91%21.85%1.18$3,720.5 TeamLos Angeles
Brandes Investment Partners - Global Equity3.04%25.67%11.62%18.11%17.01%1.06$8,702.0 TeamSan Diego
Franklin Templeton Investments - Templeton Global Equity SMA2.94%27.90%12.13%18.08%18.67%0.96$104.7 TeamSan Mateo
Brandes Investment Partners - International Equity2.70%25.68%8.43%15.18%18.79%0.8$11,302.0 TeamSan Diego
AllianceBernstein - Global Value Equity ADR*2.66%30.18%10.19%18.41%21.44%0.85$2,950.9 Sharon FayNew York
del Rey Global Investors - International Equity2.63%17.28%2.17%10.93%16.69%0.65$407.4 Paul HechmerLos Angeles
O'Shaughnessy Asset Management - Enhanced Dividend2.41%15.68%8.48%22.22%20.29%1.09$1,084.6 TeamStamford, Conn.
Legg Mason Inc. - Legg Mason MDA4 Global Multi Cap Growth2.24%26.12%15.87%23.12%18.84%1.22$116.1 TeamBaltimore
WHV Investment Management - WHV International Equity2.22%12.65%2.46%17.59%24.28%0.72$9,465.8 TeamSan Francisco
Legg Mason, Inc. - Legg Mason MDA 7A Global All Cap2.06%24.23%14.51%22.21%18.97%1.16$229.9 TeamBaltimore
Russell Developed ex North America Large Cap1.11%18.81%7.50%16.63%21.00%0.79
Russell Developed Large Cap1.59%19.86%10.49%18.87%18.20%1.03
Russell Emerging Markets Large Cap-0.82%-0.19%-2.52%15.32%24.75%0.61

U.S. fixed income

Product1Q return1-year return3-year return5-year return5-year std dev5-year Sharpe ratioAssets ($M)ManagerLocation
Principal Global Investors - Spectrum Preferred Securities7.87%0.53%6.55%17.74%16.72%1.05$13,632.9 TeamDes Moines, Iowa
The Roosevelt Investment Group - Current Income Portfolio*3.63%1.67%4.94%7.66%4.59%1.64$182.6 TeamNew York
First Western Capital Management - High Yield Fixed Income3.45%8.03%9.68%15.90%7.76%2.03$305.1 Steven S. MichaelsLos Angeles
Cincinnati Asset Management - High Yield3.42%5.52%7.23%13.85%8.72%1.57$728.6 Team ApproachCincinnati, Ohio
Seix Investment Advisors - Corporate3.40%1.04%6.05%9.28%6.04%1.52$1,031.8 TeamUpper Saddle River, N.J.
Cincinnati Asset Management - Broad Market3.36%2.51%6.73%10.57%5.74%1.82$526.3 TeamCincinnati
Cumberland Advisors - Taxable Fixed Income3.36%-0.49%6.38%7.33%5.33%1.35$235.8 TeamSarasota, Fla.
Pacific Income Advisers - U.S. High Yield3.31%8.97%9.44%17.17%8.86%1.92$586.0 TeamSanta Monica, Calif.
Cincinnati Asset Management - Investment Grade Fixed Income3.22%0.99%6.51%9.02%5.34%1.67$1,101.4 TeamCincinnati
GW&K Investment Management - Corporate Bond Opportunities Strategy3.13%6.15%8.41%13.44%6.41%2.08$187.6 TeamBoston
Shenkman Capital Management Inc. - High Yield Bond Strategy2.95%7.16%7.87%12.33%6.14%1.99$17,067.3 TeamNew York
GW&K Investment Management - Enhanced Core Bond Strategy2.86%3.09%6.50%8.83%3.84%2.27$626.0 TeamBoston
GW&K Investment Management - Total Return Bond Strategy2.86%4.52%7.33%10.25%4.28%2.37$695.5 TeamBoston
Barclays Aggregate1.84%-0.09%3.75%4.80%3.22%1.45

U.S. municipals

Product1Q return1-year return3-year return5-year return5-year std dev5-year Sharpe ratioAssets ($M)ManagerLocation
GW&K Investment Management - Municipal Enhanced Yield Strategy5.37%-0.59%8.29%8.16%8.02%1$100.2 TeamBoston
Nuveen Asset Management - Long Municipal Bond4.56%0.02%7.18%6.47%6.68%0.95$46,435.8 TeamChicago
Eaton Vance - Long Municipal Bonds4.43%1.54%7.34%6.47%6.38%1$10,725.1 James H. EvansBoston
Wasmer Schroeder & Co. Inc. - Strategic Tax Exempt Fixed Income4.34%0.76%7.98%7.05%5.92%1.17$227.1 TeamNaples, Fla.
Lord, Abbett & Co. - Long Municipal MA4.21%-0.91%7.21%6.28%6.72%0.92$4,016.7 Daniel S. SolenderJersey City, N.J.
Sit Investment Associates Inc. - U.S. Tax Exempt Fixed Income Intermediate4.10%0.82%6.63%7.65%5.29%1.42$620.3 Michael C. BrilleyMinneapolis
Cumberland Advisors - Tax-Free Municipal Fixed Income3.75%1.03%5.83%5.42%4.82%1.1$662.0 TeamSarasota, Fla.
Sage Advisory Services - Core Municipal Fixed Income3.23%0.44%5.60%5.14%4.57%1.1$159.4 TeamAustin, Texas
BlackRock - Long-Term Municipal Fixed Income2.98%0.35%5.96%5.43%5.24%1.01$1,217.3 TeamWilmington, Del.
AllianceBernstein - Tax Aware Fixed Income (MA)*2.92%0.01%5.72%6.56%4.38%1.47$905.6 New York
Eaton Vance - TABS Intermediate Maturity2.68%-0.22%5.03%5.25%4.63%1.11$2,511.0 TeamBoston
GW&K Investment Management - Municipal Bond Strategy2.65%0.56%6.06%6.20%5.33%1.14$11,525.6 TeamBoston
Lord Abbett & Co. LLC - Intermediate Municipal MA2.57%0.10%5.26%5.09%4.70%1.06$1,826.5 Daniel S. SolenderJersey City, N.J.
Thornburg Investment Management Inc. - Thornburg Intermediate Term Municipal*2.49%1.51%6.01%6.14%4.06%1.48$1,615.1 TeamSanta Fe, N.M.
McDonnell Investment Management - Medium Duration Municipal Bond2.43%0.30%5.34%5.07%4.74%1.04$4,993.0 TeamOak Brook, Ill.
Barclays Municipal Bond3.32%0.38%5.79%5.71%4.96%1.13

*Preliminary. The separately managed account products listed in these tables generated the highest performance for the quarter ended March 31. Rankings are based on performance reported to the PrimaGuide research application by April 25.. In case of ties, products are listed alphabetically. Past performance is not guarantee of future results, and advisers should rely on additional factors when determining whether to include SMAs in their client portfolios. The PrimaGuide SMA universe isn't intended to be all-inclusive but rather represents a diversified group of products that are available to, and suitable for, the affluent retail investor. Source: Envestnet

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