GLSCX — Great Lakes Small Cap Opportunity Fund
Data updated: 2022-11-21
GLSCX — Great Lakes Small Cap Opportunity Fund. Developed ex-US Small Cap Blend / Core Equity · $26.01M AUM. Holdings, fees, performance and SEC filings.
GLSCX Fund Overview
GLSCX — Great Lakes Small Cap Opportunity Fund is a US mutual fund managed by Managed Portfolio Series, categorised as Developed ex-US Small Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Managed Portfolio Series
- Category: Developed ex-US Small Cap Blend / Core Equity
- Assets under management: $26.01M
- 1-year return: -20.2%
- Ticker: GLSCX
- SEC CIK: 0001511699
- SEC series ID: S000038407
- Share class ID: C000118454
GLSCX Investment Objective and Strategy
Great Lakes Small Cap Opportunity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Managed Portfolio Series.
Investment objective
The Great Lakes Small Cap Opportunity Fund (the Fund) seeks to provide total return.
Principal investment strategy
Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of small-capitalization (small cap) companies, including common and preferred stocks and convertible securities. It is currently anticipated that the Fund normally will invest at least 95% of its net assets in these companies. The Fund considers a company to be a small cap company if it has a market capitalization, at the time of purchase, within the capitalization range of the Russell 2000 Index. The market capitalizations within the index vary, but as of June 30, 2018, they ranged from approximately $300 million to $7 billion. Although the Fund may from time to time emphasize smaller or larger capitalization companies within the range of the Russell 2000 Index, as a result of the investment process discussed below, the Adviser anticipates that generally the Funds weighted average market capitalization will be similar to that of the Russell 2000 Index.
The Funds investments primarily include common stocks of U.S.-based companies that are listed on a U.S. stock exchange, although the Fund may invest up to 20% of its total assets in securities denominated in foreign currencies or with non-US headquartered companies that have American Depositary Receipts (ADRs) that trade on a United States exchange. From time to time, the Fund may focus its investments in securities of companies in the same economic sector. Although the principles underlying the Advisers investment process were not selected solely because they are identified with either a growth or value style of investing, it is likely the case that the Funds investment style will often times exhibit characteristics more closely associated with value investing than growth. The Fund is actively managed using a fundamental process that incorporates both quantitative screening techniques and rigorous investment analysis.
The Adviser has designed its fundamental process to add value in the small cap universe which it believes lacks an efficient market. Many listed securities have limited published research coverage, which may result in the market not fully assessing the value or growth prospects of the companies. The Adviser seeks to invest in the securities of companies it believes are undervalued by the marketplace in relation to the companys ability to generate attractive returns on capital. Attractive returns can then be reinvested in growth opportunities or a return of capital to shareholders in the form of dividends, debt repayment, or share buybacks. The Adviser considers measures such as price/book (P/B) ratio, price/sales (P/S) ratio, price/earnings (P/E) ratio, earnings relative to enterprise value (the total value of a companys outstanding equity and debt), and the discounted value of a companys future cash flows.
In addition to investing in equity securities of small cap companies, the Fund may invest in other investment companies, including exchange-traded funds (ETFs), to the extent permitted by the Investment Company Act of 1940, as amended (the 1940 Act), in order to reduce cash balances in the Fund and increase the level of Fund assets exposed to small cap companies. The Adviser determines the size of each position (i.e., stocks owned by the Fund) by analyzing the trade-offs among a number of factors, including the investment attractiveness of each position, its estimated impact on the risk of the overall portfolio and the expected cost of trading. Holdings are generally sold as they reach the Advisers valuation targets, or if the situation changes in an unexpected way which may permanently impair return prospects.
For example, situations can change due to management missteps or changes in the macro-economic environment. In attempting to meet its investment objective, the Fund may engage in active and frequent trading of portfolio securities.
GLSCX Performance
Total returns for GLSCX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -20.2% |
| 3 years (annualised) | -2.4% |
GLSCX Risk Information
Risk metrics for GLSCX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 20.5%
GLSCX Costs and Fees
GLSCX costs about $124 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.24%
- Gross expense ratio: 1.31%
- Portfolio turnover: 46%
- Brokerage commissions: 10.80 bps of average net assets (SEC N-CEN)
GLSCX Cashflows
Over the 12 months to 2022-09, Great Lakes Small Cap Opportunity Fund had net inflows of $23.77M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-09 | $1.34M |
| 2022-08 | $901.28K |
| 2022-07 | $383.05K |
| 2022-06 | $552.96K |
| 2022-05 | $289.53K |
| 2022-04 | $283.12K |
GLSCX Debt Constituents
No individual debt constituents are reported in Great Lakes Small Cap Opportunity Fund's latest SEC N-PORT filing.
GLSCX Prospectus and SEC Filings
Official Great Lakes Small Cap Opportunity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-07-27
- Prospectus (485BPOS) — filed 2021-07-27
- Prospectus (485BPOS) — filed 2020-08-07
- Portfolio holdings (N-PORT) — filed 2022-11-21
- Portfolio holdings (N-PORT) — filed 2022-08-09
- Portfolio holdings (N-PORT) — filed 2022-05-16
- Annual census (N-CEN) — filed 2022-06-13
- Annual census (N-CEN) — filed 2021-06-14
Related Funds
Other Developed ex-US Small Cap 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.