Cision PR Newswire
Ranger Micro Cap Growth Strategy Earns PSN Top Guns Designation Over Multiple Time Periods
News provided byRanger Investments
Sep 19, 2023, 11:40 AM ET
DALLAS, Sept. 19, 2023 /PRNewswire/ -- Ranger Investment Management, L.P. (Ranger Investments), an employee-owned boutique investment manager specializing in small- and micro-cap U.S. growth strategies, has been named to the PSN Top Guns List of high-performing separate accounts, managed portfolios or managed ETF strategies over multiple time periods through June 30, 2023. The PSN Top Guns List ranks investment strategies in six proprietary categories in more than 75 asset class universes based on continued performance over time and is a widely used resource by investors, financial advisors, and asset managers.
Dallas-based Ranger Investments' micro cap strategy earned Top Guns status across all six ratings for periods ranging from the second quarter of 2023 to one, three and five years through June 30, 2023.
- Top Gun 1 star: earned by strategies with one of the top 10 returns for the quarter.
- Top Gun 2 stars: earned by strategies with one of the top 10 returns for the one-year period.
- Top Gun 3 stars: earned by strategies with one of the top 10 returns for the three-year period.
- Top Gun 4 stars: earned by strategies that had an r-squared of 0.80 or greater relative to the style benchmark for the recent five-year period. Moreover, the strategy's returns exceeded the style benchmark for the three latest three-year rolling periods. The top 10 performers for the latest three-year period then become the 4 Star Top Guns.
- Top Gun 5 stars: earned by strategies that had an r-squared of 0.80 or greater relative to the style benchmark for the recent five-year period. Moreover, the strategy's returns exceeded the style benchmark for the three latest three-year rolling periods. Strategies are then selected that have a standard deviation for the five-year period equal or less than the median standard deviation for the peer group. The top 10 returns for the latest three-year period then become the 5 Star Top Guns.
- Top Gun 6 stars: earned by strategies that had an r-squared of 0.80 or greater relative to the style benchmark for the recent five-year period. They must have returns greater than the style benchmark for the three latest three-year rolling periods. Strategies are then selected that have a standard deviation for the five-year period equal or less than the median standard deviation for the peer group. The top 10 information ratios for the latest five-year period then are awarded Top Guns status.
Ranger Investments' U.S. micro cap growth strategy is team managed by portfolio managers Conrad Doenges, Andrew Hill, Joseph LaBate, and Brown McCullough and includes senior analysts Devin Holland and Kevin Zhu, and Jeff Dalton, Ranger's manager of sustainable investing and risk analysis.
"It's gratifying to achieve Top Guns status for generating superior performance for investors over multiple time periods," said Doenges, who also serves as Ranger Investments' chief investment officer. "Our focus remains on the team's disciplined investment process, rigorous stock selection, and long-term view. This recognition demonstrates that investing in the underfollowed micro cap universe can garner results in a market largely dominated by mega cap companies."
Ranger Investments launched the strategy for institutional investors in August 2014 and now offers the strategy as a separate account model portfolio, and as a mutual fund—the Ranger Micro Cap Institutional Fund (RFIMX). In June 2023 the mutual fund marked its five-year anniversary, achieving top decile returns over one, three and five years, according to data from Morningstar Inc., a leading provider of independent investment research. RFIMX also has an overall Morningstar Rating™ for funds of 5 stars, given to the top 10% of funds in its category based on risk-adjusted returns.
The micro cap strategy goal is to capture and compound returns while managing risk to preserve shareholder capital. Ranger's investment team seeks to invest in U.S. micro cap growth companies with distinctive advantages, including durable business models, sustainable growth, expanding markets, and exceptional management. The concentrated portfolio currently has 38 positions.
ABOUT RANGER INVESTMENT MANAGEMENT
Ranger Investment Management, L.P. is a boutique equity investment manager that specializes in U.S. small- and micro-cap growth strategies. Formed in 2003, Ranger Investments is owned and controlled by employees and is registered with the Securities & Exchange Commission. The firm's strategies aim to preserve and increase capital by using a bottom-up, fundamental research process to identify growing, high-quality companies that can be purchased at attractive valuations. Ranger Investments manages and advises more than $2.1 billion in assets, including model accounts, as of June 30, 2023. Ranger Investments is signatory to the Principles for Responsible Investing (PRI). For more information, visit https://www.rangerinvestments.com
For nearly four decades, PSN has been a top resource for investment professionals. Asset managers rely on Zephyr's PSN to effectively reach institutional and retail investors. Over 2,800 firms, 285 universes, and more than 21,000 products comprise the PSN SMA database showing asset breakdowns, compliance, key personnel, ownership diversity, ESG, business objectives and strategy, style, fees, GIC sectors, fixed income ranges and full holdings. Unique to PSN is its robust historical database of nearly 40 years of data including net and gross-of-fee returns. Visit PSN online to learn more.
Past performance is not indicative of future returns. The PSN awards and Morningstar rankings should not be construed as a guarantee that a client will experience a certain level of results or satisfaction if they invest with us, nor should it be construed as a current or past testimonial by any of our current clients or an endorsement by any third-party. Ranger Investments did not pay a fee to participate in these awards and rankings.
The Morningstar RatingTM for funds, or "star rating" is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) 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. Additional information can be found at www.morningstar.com.
SOURCE Ranger Investments
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