ACPQX — Core Equity Plus Fund

Data updated: 2019-11-22

ACPQX — Core Equity Plus Fund. United States Blend / Core Equity · $154.03M AUM · 2.19% expense ratio. Holdings, fees, performance and SEC filings.

ACPQX Fund Overview

ACPQX — Core Equity Plus Fund is a US mutual fund managed by American Century Quantitative Equity Funds, Inc., categorised as United States Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

ACPQX Investment Objective and Strategy

Core Equity Plus Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by American Century Quantitative Equity Funds, Inc..

Investment objective

The fund seeks long-term capital growth.

Principal investment strategy

The managers use quantitative models to construct the portfolio of equity securities for the fund. Under normal market conditions, they will invest at least 80% of the funds net assets in equity securities. The fund invests approximately 130% of its assets in long positions, while 30% of its assets are sold short. A long position arises when the fund buys a security outright. A short position arises when the fund sells a security it does not own but has borrowed in anticipation that the market price of the security will decline. If the market price in fact declines, the fund can replace the borrowed security at a lower price and capture the value represented by the difference between the higher sale price and the lower replacement price. The proceeds from the securities sold short are used to purchase an additional 30% of long positions.

The net investment exposure for the fund is a 100% long market exposure. The portfolio managers buy, or take long positions in, equity securities that they have identified as the most attractive and take short positions in equity securities that they have identified as the least attractive using a multi-factor quantitative model in a two-step process. In the first step, the managers rank stocks, primarily large capitalization, publicly traded U.S. companies with a market capitalization greater than $2 billion, from the most attractive to least attractive based on an objective set of measures, including valuation, quality, growth, and sentiment. In the second step, the managers use a quantitative model to build a portfolio that provides the optimal balance between risk and expected return. The portfolio managers generally sell a stock from the funds long portfolio when they believe it has become less attractive relative to other opportunities, its risk characteristics outweigh its return opportunity or specific events alter its prospects.

The funds use of short selling as a primary investment strategy creates leverage in an attempt to increase returns. The fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. This may cause higher transaction costs and may affect performance. It may also result in the realization and distribution of capital gains.

ACPQX Costs and Fees

ACPQX costs about $219 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 2.19%
  • Gross expense ratio: 2.19%
  • Portfolio turnover: 122%
  • Brokerage commissions: 5.42 bps of average net assets (SEC N-CEN)

ACPQX Cashflows

Over the 12 months to 2019-09, Core Equity Plus Fund had net outflows of $17.51M, from monthly SEC N-PORT filings.

MonthNet flow
2019-09−$47.28K
2019-08−$15.73M
2019-07−$1.73M

ACPQX Debt Constituents

No individual debt constituents are reported in Core Equity Plus Fund's latest SEC N-PORT filing.

ACPQX Prospectus and SEC Filings

Official Core Equity Plus Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other United States Blend / Core Equity funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.