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Mid Cap Equity

Portfolio Manager: Patrick Dunkerley- Scout Investments, Inc. (Bio)
Quarterly Fact Sheet* (.pdf)


UMB’s Mid Cap Equity Strategy combines a top-down focus on the macroeconomy to develop themes with a bottom-up approach to stock selection.

In constructing portfolios, our portfolio managers utilize internal and external economic research to identify secular themes to determine overweighting or underweighting versus the economic sectors of the Russell MidCap Index. Thus the Mid Cap Equity Strategy attempts to add value through macroeconomic analysis, active sector selection, and rigorous stock selection.

The management team seeks to invest in the securities of companies that are expected to benefit from macroeconomic or company-specific factors, and that are attractively priced relative to their fundamentals. The team may consider fundamental factors such as cash flow, financial strength, profitability, statistical valuation measures, potential or actual catalysts, accounting practices, management quality, risk factors such as litigation, the estimated fair value of the company, general economic and industry considerations, and additional information as appropriate.

The Strategy pursues its objective by investing primarily in common stocks of mid cap companies. Under normal circumstances, at least 80 percent of the Strategy’s net assets will be invested in mid cap equity securities. Mid cap equity securities are securities issued by companies with market capitalizations, at the time of purchase, between $1.5 billion and $17 billion. The Strategy maintains a portfolio of investments diversified across companies and economic sectors.


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