Jan 31, 2019
CHARLOTTE, N.C. and VIRGINIA BEACH, Va., Jan. 31, 2019 /PRNewswire/ -- Sterling Capital Management LLC (Sterling Capital) announced today that its Equity Income mutual fund (the fund) ranked in the top 1 percent among 467 of its Lipper peer category based on total return for the three-year period ended Dec. 31, 2018, for its institutional-class I shares (BEGIX), providing an 11.59-percent return per year versus a category average of 6.88 percent per year. The fund received the highest Lipper overall rating score of 5 for total return in the Equity Income Funds category for the same period, listing it as a Lipper Leader.1
"The Lipper recognition is a gratifying validation of our rigorous investment process that has remained consistent since the fund's inception more than 14 years ago," said Lead Portfolio Manager George Shipp, CFA®. "Our approach to active management in uncovering stocks with consistent dividend growth, attractive valuations and above-average return on equity has helped the Equity Income Fund achieve its long-term objective of seeking capital growth and current income. We are fortunate to have a great team of professionals at Sterling Capital, and we are indebted to our valued clients for having confidence in us. Our sole focus is on helping our shareholders achieve their investment goals in the years ahead."
Lipper Equity Income Category
Lipper Ranking2/Number of Funds in Category
Lipper Quartile (Percentile)
The fund's management team is comprised of seven experienced investment professionals and uses fundamental securities analysis overlaid with top-down macroeconomic trends. In its search for best ideas, the team seeks companies with strong balance sheets that are reasonably valued and have shown market/sales gain over time with a credible plan to continue such growth in the future. Valuation is the key to managing the fund. The investment team also evaluates how businesses have performed in past market environments and how they incentivize management, among other considerations, in the team's pursuit to achieve above average returns with below average risk.
"As part of our rigorous process, the fund also follows Sterling Capital's Common Sense ESGTM investment approach by seeking to identify companies that have strong environmental, social and governance characteristics and are aligned with our goal to pursue outperformance," George added.
Fund Performance 12/31/2018
Russell 1000® Value Index3
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate, which means when an investor's shares are redeemed they may be worth more or less than the original cost. To obtain performance information current to the most recent month-end and information on other share classes, please visit SterlingCapital.com. The total expense ratio is 0.78%.
For additional information on the fund, please visit SterlingCapital.com.
George F. Shipp, CFA®, senior managing director and lead portfolio manager, founded what is now the Sterling Capital Equity Opportunities group in December 2000, after serving for 18 years as a sell-side equity analyst with the broker-dealer BB&T Scott & Stringfellow. Shipp serves as the lead portfolio manager for the Equity Income and Special Opportunities strategies and has since their respective inceptions. Shipp is a graduate of the University of Virginia, where he received a bachelor's degree in biology and an MBA from its Darden Graduate School of Business. He is a CFA® charterholder.
Sterling Capital Management LLC is a registered investment advisor founded in 1970, with more than $56 billion in assets under management as of Dec. 31, 2018. Sterling is an independently operated subsidiary of BB&T Corporation, one of the nation's largest financial services holding companies. Headquartered in Charlotte, North Carolina, Sterling is comprised of more than 130 professionals in San Francisco, California; Atlanta, Georgia; Washington, D.C.; Raleigh, North Carolina; Philadelphia, Pennsylvania; and Richmond and Virginia Beach, Virginia. Sterling provides investment management services to a diverse group of clients, including corporate, public, health care, private clients, endowment, foundation, insurance, subadvisory and managed investment pools. Pensions & Investments magazine ranked Sterling Capital No. 134 out of 563 managers it tracks in its 2018 "Largest Money Managers" report.4
Common Sense ESGTM is a trademark of Sterling Capital Management LLC.
1 The Lipper Leader Scores are subject to change every month. The overall score is based on an equal-weighted average of percentile ranks for total return metrics over 3-, 5-, and 10-year periods. Lipper Leaders for Total Return reflects a fund's historical total return performance relative to its peer group. The highest 20 percent in each peer group are named Lipper Leaders and receive a score of 5, the next 20 percent receive a score of 4, the middle 20 percent receive a score of 3, the next 20 percent receive a score of 2 and the lowest 20 percent score 1. The Sterling Capital Equity Income Fund Institutional Shares received the following scores for the 3-, 5- and 10-year time periods among the Lipper U.S. Diversified Equity Fund category, respectively: Total Return: Leader out of 467 funds; 4 out of 403 funds and 4 out of 247 funds.
2 Lipper rankings are based on total return, including the reinvestment of dividends and capital gains but do not include sales charges for the periods indicated. Rankings shown are for Class I Shares and may be lower for Class A Shares and Class C Shares due to higher fees and expenses. Lipper assigns mutual funds a rank within a universe of funds, relative to a peer group and similar in investment objective. Lipper calculates a percentile measure for each fund ranging from 1 percent (best) to 100 percent (worst). High rankings do not assure high or favorable performance.
3 Returns for the Russell 1000® Value Index are included to show how the fund's performance compares with the overall performance of the large-cap value segment of the U.S. equity universe.
4 Pensions & Investments (www.pionline.com) 45th annual "Largest Money Managers" special report 2018. Published May 28, 2018.
Past performance does not guarantee future results. Investing involves risk including the possible loss of principal.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the fund, please call 888-228-1872 or visit our website at SterlingCapital.com. Read the prospectus carefully before investing.
SOURCES: Sterling Capital Distributors LLC; Sterling Capital Management LLC.
SOURCE Sterling Capital Management LLC
For further information: John McAuley, Managing Director, Head of Distribution, Sterling Capital Management LLC, 4350 Congress St., Suite 1000, Charlotte, NC 28209, Phone: 704-927-4109