Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 844.577.3863 Share Class IS IS Investor Institutional NAV | as of 12/06/2024 $20.06 +$0.20 (+1.01%) Morningstar | Style Box V B G L M S Morningstar Medalist Rating as of 07/16/2024 Analyst-Driven:100% | Data Coverage:100% Growth of $10,000 (Hypothetical) Since Inception 12/01/2003 to 11/30/2024 = $62,692.47 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. SEE ALL PERFORMANCE The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Read Important Investment Disclosures Objective The fund seeks long-term capital appreciation. Why Consider Jackson Square Partners (JSP) is benchmark agnostic, holding a concentrated, conviction weighted portfolio. The JSP concentrated portfolio approach limits asset capacity in all strategies, resulting in a performance-driven investment culture. JSP emphasizes growth in intrinsic business value as opposed to more traditional definitions of growth that are often restricted to revenue and reported earnings. Cash generation and return on invested capital are more important to JSP than accounting earnings. JSP’s investment team structure is flat, with a stable, veteran team which values high levels of accountability and internal peer scrutiny. While members of the team may have portfolio management responsibilities, everyone on the team is first and foremost an analyst. Documents Fact Sheet Commentary Summary Prospectus Prospectus 2022 Year End Distributions View All Documents Investment Style Jackson Square SMID-Cap Growth Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective Jackson Square SMID-Cap Growth Fund is categorized as Small-Growth. It invests in small-cap companies with high risk. Morningstar Ratings Risk-adjusted returns as of 11/30/2024 Overall Rating (of 477) 3 Years (of 477) 5 Years (of 440) 10 Years (of 356) Category Mid-Cap Growth Read Important Investment Disclosures Christopher Bonavico PORTFOLIO MANAGER, ANALYST Chris Bonavico is a founding member of Jackson Square Partners serving as a portfolio manager for the Global Growth and SMID-Cap Growth strategies and analyst supporting all strategies. His tenure with the team spans almost three decades. Prior to founding Jackson Square, he was a portfolio manager of the Delaware Investments Focus Growth Equity team from April 2005 to April 2014. Prior to Delaware Investments, he was a principal and portfolio manager at Transamerica Investment Management, where he managed sub-advised funds and institutional separate accounts. Before joining Transamerica in 1993, he was a research analyst for Salomon Brothers. Chris received his bachelor’s degree in economics from the University of Delaware and is a CFA® charterholder. Kenneth Broad CO-CHAIRMAN, PORTFOLIO MANAGER, ANALYST Ken Broad is a founding member of Jackson Square Partners and has served as a portfolio manager for the SMID-Cap Growth and Small Cap Opportunities strategies and analyst supporting all strategies. He was promoted to co-chair in 2023. He has spent more than 20 years with the team. Previously, he was a portfolio manager of the Delaware Investments Focus Growth Equity team from April 2005 to April 2014. Prior to Delaware Investments, he was a principal and portfolio manager at Transamerica Investment Management, where he managed sub-advised funds and institutional separate accounts. Before joining Transamerica in 2000, he was a portfolio manager with The Franklin Templeton Group and a consultant in the business valuation and merger and acquisition group at KPMG Peat Marwick. He received an MBA from the University of California, Los Angeles and his bachelor’s degree in economics from Colgate University. He is also a CFA® charterholder. Ian Ferry CIO, PORTFOLIO MANAGER, ANALYST Ian Ferry is a founding member of Jackson Square Partners, serving as a portfolio manager for the SMID Cap Growth and Small Cap Opportunities strategies and analyst supporting all strategies. He was promoted to CIO in 2023. He has been a part of the team for over a decade. Prior to founding Jackson Square, he was a portfolio manager of the Delaware Investments Focus Growth Equity team from November 2011 to April 2014. Prior to joining Delaware Investments, he was an equity research analyst with Fidelity from August 2010 to October 2011. Before that, he completed an internship as an analyst with Carlson Capital in summer 2009. He worked with HarbourVest Partners from 2005 to 2008 in its private equity group, where he analyzed and completed growth equity investments and leveraged buyouts for the firm. Ian began his career with Houlihan Lokey in 2004 as a financial analyst. He earned a bachelor’s degree in finance from Tulane University. Ian also earned an MBA, with a concentration in management, from The Wharton School of the University of Pennsylvania in 2010. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods shorter than one year are not annualized. Expense Ratios Gross Expense Ratio: 0.86% Net Expense Ratio: 0.87% Expense Cap Expiration Date: N/A Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 16, 2021 $6.090810 — — $6.090810 Dec 17, 2020 $1.938770 — $0.153700 $1.785070 Dec 18, 2019 $1.042140 $0.022500 $0.027410 $0.992230 Dec 27, 2018 $2.660433 $0.060453 $0.503960 $2.096020 Dec 27, 2017 $0.121170 — — $0.121170 Dec 28, 2016 $0.092005 $0.023455 — $0.068550 Sep 14, 2016 $1.053000 $0.021000 — $1.032000 Dec 17, 2015 $1.109000 $0.021000 $0.120000 $0.968000 Dec 18, 2014 $4.968000 $0.078000 $1.392000 $3.498000 Dec 18, 2013 $0.012000 $0.012000 — — Dec 18, 2012 $0.221000 — — $0.221000 Dec 16, 2011 $0.011000 $0.011000 — — Dec 15, 2008 $0.056000 $0.056000 — — Dec 14, 2007 $0.757000 $0.031000 $0.436000 $0.290000 Dec 15, 2006 $0.475000 $0.013000 $0.140000 $0.322000 From: To: Risk & Return Statistics As of: 11/30/2024 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -12.15 -7.95 -2.65 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 23.85 26.14 21.13 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.57 -0.03 0.26 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 80.04 95.16 89.66 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 116.79 111.13 102.42 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.03 1.07 1.00 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 92.86 89.69 87.31 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 6.42 8.56 7.53 View All Characteristics & Statistics All Characteristics & Statistics Jackson Square SMID-Cap Growth Fund (DCGTX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 2500™ Growth Index Fund Assets (Mil.$) $241 Number of Holdings 31 1,293 Weighted Avg. Market Cap (Mil.$) $11,770 $6,864 Median Market Cap (Mil.$) $9,672 $1,578 Weighted Avg. P/E (1-yr Forward EPS) 28.35 23.21 Weighted Avg. P/E (Trailing EPS) 35.75 26.70 PEG Ratio 2.03 1.34 Weighted Avg. P/B 3.48 4.85 EPS Growth (Trailing 3-yr %) 16.25% 12.02% EPS Growth (Trailing 5-yr %) 18.91% 20.34% Forward EPS Growth (1-yr %) 9.94% 7.79% Forward EPS Growth (Long Term %) 14.37% 16.70% Revenue Growth (Trailing 5-yr %) 14.68% 15.15% Return on Equity 15.23% 8.19% Weighted Avg. Dividend Yield 0.41% 0.52% Debt to Equity 75.40 87.25 As of: 09/30/2024 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -12.15 -7.95 -2.65 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 23.85 26.14 21.13 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.57 -0.03 0.26 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 80.04 95.16 89.66 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 116.79 111.13 102.42 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.03 1.07 1.00 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 92.86 89.69 87.31 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 6.42 8.56 7.53 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -1.98 -1.00 -0.43 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. -13.14 -0.80 5.58 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -45.42 -53.94 -53.94 As of: 11/30/2024 Market Cap Fund Russell 2500™ Growth Index Market Cap ($mm) 0 - 1,000 4.68% 5.17% Market Cap ($mm) 1,000 - 1,500 3.60% 4.84% Market Cap ($mm) 1,500 - 2,500 3.90% 9.47% Market Cap ($mm) 2,500 - 5,000 5.05% 26.23% Market Cap ($mm) 5,000 - 10,000 38.64% 32.39% Market Cap ($mm) 10,000 - 25,000 38.04% 21.86% Market Cap ($mm) 25,000 - 50,000 6.09% 0.00% Market Cap ($mm) 50,000 - 100,000 0.00% 0.00% Market Cap ($mm) 100,000 - 200,000 0.00% 0.00% Market Cap ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.04% As of: 09/30/2024 Valuation Characteristics Fund Russell 2500™ Growth Index P/E 0-10 0.00% 2.73% P/E 10-15 2.36% 4.75% P/E 15-20 2.09% 8.14% P/E 20-25 6.62% 8.74% P/E 25-Above 79.10% 49.69% P/E – NA 9.84% 25.95% As of: 09/30/2024 Growth Characteristics Fund Russell 2500™ Growth Index EPS Growth (Trailing 3-yr %) - Negative 21.45% 17.54% EPS Growth (Trailing 3-yr %) 0 - 5 3.60% 2.86% EPS Growth (Trailing 3-yr %) 5 - 10 8.11% 4.07% EPS Growth (Trailing 3-yr %) 10 - 15 6.04% 5.83% EPS Growth (Trailing 3-yr %) 15 - 20 5.85% 3.50% EPS Growth (Trailing 3-yr %) Above 20 37.10% 27.05% EPS Growth (Trailing 3-yr %) - NA 17.85% 39.14% As of: 09/30/2024 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 09/30/2024 New York Times Co/The 6.28% CLEAN HARBORS INC COM 5.20% Bio-Techne Corp 4.51% SiteOne Landscape Supply Inc 4.37% Wyndham Hotels & Resorts Inc 4.23% MarketAxess Holdings Inc 4.11% Aspen Technology Inc 4.00% Howmet Aerospace Inc 3.99% Stevanato Group SpA 3.79% Graco Inc 3.65% % in Top 10 Holdings 44.13% View Holding Details Holding Details Jackson Square SMID-Cap Growth Fund (DCGTX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 09/30/2024 New York Times Co/The 6.28% CLEAN HARBORS INC COM 5.20% Bio-Techne Corp 4.51% SiteOne Landscape Supply Inc 4.37% Wyndham Hotels & Resorts Inc 4.23% MarketAxess Holdings Inc 4.11% Aspen Technology Inc 4.00% Howmet Aerospace Inc 3.99% Stevanato Group SpA 3.79% Graco Inc 3.65% % in Top 10 Holdings 44.13% As of: 09/30/2024 Download All Holdings (PDF) As of: 10/31/2024 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund NYT New York Times Co/The Communication Services S US USD 237,391 55.84 $13,255,913 6.39% CLH Clean Harbors Inc Com Industrials S US USD 45,035 231.26 $10,414,794 5.02% WH Wyndham Hotels & Resorts Inc Consumer Discretionary S US USD 113,146 88.32 $9,993,055 4.82% MKTX MarketAxess Holdings Inc Financials S US USD 33,633 289.42 $9,734,063 4.69% LC LendingClub Corp Financials S US USD 664,730 14.18 $9,425,871 4.55% TECH Bio-Techne Corp Health Care S US USD 118,119 73.75 $8,711,276 4.20% SITE SiteOne Landscape Supply Inc Industrials S US USD 60,550 139.74 $8,461,257 4.08% HWM Howmet Aerospace Inc Industrials S US USD 83,359 99.72 $8,312,559 4.01% AZPN Aspen Technology Inc Information Technology S US USD 35,103 234.73 $8,239,727 3.97% STVN Stevanato Group SpA Health Care S IT USD 396,155 19.01 $7,530,907 3.63% GGG Graco Inc Industrials S US USD 87,240 81.45 $7,105,698 3.43% GO Grocery Outlet Holding Corp Consumer Staples S US USD 492,659 14.30 $7,045,024 3.40% ENTG Entegris Inc Information Technology S US USD 65,923 104.71 $6,902,797 3.33% CRL Charles River Laboratories International Inc Health Care S US USD 38,470 178.58 $6,869,973 3.31% RYAN Ryan Specialty Holdings Inc Financials S US USD 95,590 65.87 $6,296,513 3.04% ALGN Align Technology Inc Health Care S US USD 29,815 205.03 $6,112,969 2.95% SSD Simpson Manufacturing Co Inc Industrials S US USD 33,255 179.79 $5,978,916 2.88% WMG Warner Music Group Corp Communication Services S US USD 180,924 31.96 $5,782,331 2.79% MEDP Medpace Holdings Inc Health Care S US USD 17,372 314.22 $5,458,630 2.63% WIX Wix.com Ltd Information Technology S IL USD 32,547 167.12 $5,439,255 2.62% OKTA Okta Inc Information Technology S US USD 74,782 71.89 $5,376,078 2.59% BILL BILL Holdings Inc Information Technology S US USD 91,620 58.36 $5,346,943 2.58% HXL Hexcel Corp Industrials S US USD 86,638 58.69 $5,084,784 2.45% KNSL Kinsale Capital Group Inc Financials S US USD 11,603 428.11 $4,967,360 2.40% WSC WillScot Holdings Corp Industrials S US USD 139,357 33.14 $4,618,291 2.23% WAB Westinghouse Air Brake Technologies Corp Industrials S US USD 24,492 187.98 $4,604,006 2.22% MOH Molina Healthcare Inc Health Care S US USD 12,780 321.22 $4,105,192 1.98% ACLS Axcelis Technologies Inc Information Technology S US USD 47,235 85.31 $4,029,618 1.94% ESTC Elastic NV Information Technology S NL USD 49,821 80.23 $3,997,139 1.93% APPF Appfolio Inc Information Technology S US USD 17,771 207.87 $3,694,058 1.78% PACB Pacific Biosciences of California Inc Health Care S US USD 1,137,484 2.17 $2,468,340 1.19% Cash & Equivalents Cash C - - $1,989,366 0.96% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Howmet Aerospace Inc. 1 3.83% 29.22% MarketAxess Holdings Inc 2 3.74% 28.05% LendingClub Corp 3 3.37% 35.11% SiteOne Landscape Supply Inc 4 3.88% 24.30% Aspen Technology Inc 5 3.52% 20.23% As of: 09/30/2024 The 5 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Elastic NV 20 2.36% -32.61% Grocery Outlet Holding Corp. 19 3.41% -20.66% Axcelis Technologies, Inc. 18 2.66% -26.26% Okta Inc, Class A 17 3.14% -20.59% Entegris Inc 16 3.33% -16.84% As of: 09/30/2024 The 5 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Equity) As of: 09/30/2024 View Allocation Details Allocation Details Jackson Square SMID-Cap Growth Fund (DCGTX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 2500™ Growth Index Industrials 27.45% 20.05% Health Care 21.35% 22.13% Information Technology 21.34% 19.96% Financials 13.36% 9.40% Communication Services 8.99% 1.70% Consumer Discretionary 4.23% 14.40% Consumer Staples 3.46% 2.96% Energy 0.00% 3.71% Materials 0.00% 3.70% Real Estate 0.00% 1.32% Utilities 0.00% 0.68% Cash & Other -0.18% 0.00% As of: 09/30/2024 Investment Allocation 09/30/2024 Stocks 100.18% Bonds 0.00% Cash and Other -0.18% As of: 09/30/2024 Industry Fund Russell 2500™ Growth Index Life Sciences Tools & Services 15.62% 0.91% Software 10.14% 12.49% Aerospace & Defense 6.56% 1.14% Media 6.28% 0.50% Semiconductors & Semiconductor Equipment 5.92% 2.91% Machinery 5.78% 3.36% Insurance 5.62% 1.99% IT Services 5.27% 1.01% Commercial Services & Supplies 5.20% 1.15% Trading Companies & Distributors 4.37% 2.52% % in Top 10 Industries 70.76% 27.98% As of: 09/30/2024 Read Important Investment Disclosures About the Affiliate About Jackson Square Partners Founded in 2014, Jackson Square is an independent, majority employee-owned investment manager specializing in long-only, growth-oriented equity investing. Their approach has been honed by a team who has worked together for more than two decades, resulting in a unifying investment philosophy of concentrated, long-term investing focused on intrinsic business value growth. Learn More About Jackson Square's Approach FOUNDED 2014 AMG AFFILIATE SINCE 2020 HEADQUARTERS San Francisco Portfolio Managers Christopher Bonavico PORTFOLIO MANAGER, ANALYST Read full bio Kenneth Broad CO-CHAIRMAN, PORTFOLIO MANAGER, ANALYST Read full bio Ian Ferry CIO, PORTFOLIO MANAGER, ANALYST Read full bio Investment Approach Investment Approach Jackson Square SMID-Cap Growth Fund Jackon Square Partners (JSP) is a growth investor but is not bound by consensus definitions of growth. JSP believes that attractive returns can be realized by maintaining a concentrated portfolio of companies that have superior business models, strong cash flows and the opportunity to generate consistent, long-term growth of intrinsic business value. The SMID-Cap Growth product invests, at the time of purchase, in companies with an equity capitalization of less than $7.5B. Positions generally graduate from the portfolio around $15 billion. Related products Other Products From Jackson Square Partners JSPIX Jackson Square Large-Cap Growth Fund View Fund Details Stay up-to-date Sign up to receive our latest views and thinking, in addition to other news and product-related information. CHOOSE SUBSCRIPTIONS