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Large Cap Equity

Lead Portfolio Manager: James Reed- Managed by Scout Investments, a subsidiary of UMB Financial Corporation (Bio)
Co-Portfolio Manager:
Larry Valencia- Managed by Scout Investments, a subsidiary of UMB Financial Corporation (Bio)
Quarterly Fact Sheet* (.pdf)

Strategy

The UMB Asset Management’s Large Cap Equity Strategy combines a fundamental, bottom-up approach to stock selection with a top-down focus on the macro economy. The strategy seeks to identify relative value within companies that have proven their ability to grow earnings and cash flow. This emphasis on quality growth is often referred to as a “growth at a reasonable price” (GARP) methodology.

UMB Asset Management’s internal research staff screens all publicly traded companies with market capitalizations over $1 billion using the following criteria:

  • Five-year historical Earnings Per Share (EPS) growth
  • Consistency of EPS growth
  • Sales growth
  • Return on equity
  • Debt-to-total-capital ratio

The strongest companies in this analysis are further screened for their value properties using measures such as absolute Price/Earnings (P/E) Ratio, relative P/E Ratio, and P/E Ratio in relation to sector growth. The end result of these (and other) evaluations is to create a buy list of approximately 100 stocks.

In constructing specific portfolios, senior management of UMB Asset Management utilizes internal and external economic research to determine overweighting or underweighting versus the economic sectors of the S&P 500 Index. Thus the Large Cap Equity Strategy attempts to add value through rigorous stock selection as well as active sector selection.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

* Subadvised by Scout Investments, an affiliate of UMB Bank.