RHJMX — Rice Hall James Small Cap Portfolio
Data updated: 2024-03-28
RHJMX — Rice Hall James Small Cap Portfolio. United States Small Cap Blend / Core Industrials Equity. Holdings, fees, performance and SEC filings.
RHJMX Fund Overview
RHJMX — Rice Hall James Small Cap Portfolio is a US mutual fund managed by Advisors' Inner Circle Fund, categorised as United States Small Cap Blend / Core Industrials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Advisors' Inner Circle Fund
- Category: United States Small Cap Blend / Core Industrials Equity
- Assets under management: $12.11M
- 1-year return: -3.4%
- Ticker: RHJMX
- SEC CIK: 0000878719
- SEC series ID: S000005703
- Share class ID: C000015667
RHJMX Investment Objective and Strategy
Rice Hall James Small Cap Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisors' Inner Circle Fund.
Investment objective
"The Rice Hall James Small Cap Portfolio (the ""Fund"" or the ""Small Cap Portfolio"") seeks maximum capital appreciation, consistent with reasonable risk to principal, by investing primarily in small market capitalization (small-cap) companies."
Principal investment strategy
"Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of small-cap companies. This investment policy may be changed by the Fund upon 60 days' prior written notice to shareholders. Equity securities are primarily common stock. The Fund focuses on U.S. companies with total market capitalizations (number of shares outstanding multiplied by share price) that at the time of initial purchase fall within the range of companies in the Russell 2000 Index at reconstitution each June. The Adviser believes that shares of small-cap companies exhibit greater pricing inefficiencies compared to larger-capitalization companies, which affords greater opportunity for excess returns. The Adviser attributes this inefficiency primarily to lower levels of analyst coverage in this area of the market.
In making investment decisions for the Fund, the Adviser uses a company-specific approach that focuses on identifying, through fundamental research, the stocks of growth companies that are valued attractively (i.e., undervalued or selling at a discount) relative to a price that would be justified according to the Adviser's expectations regarding a company's earnings growth. The Adviser relies on fundamental analysis in the effort to validate the opinion that a company's current stock price undervalues, or does not reflect fully, that company's earnings growth potential. The Adviser's investment process seeks to identify companies whose stocks appear to be inaccurately priced by the market - specifically growth stocks that are undervalued due to market inefficiency. The Adviser seeks to capture price appreciation by investing in a company's undervalued shares before the market has recognized that company's above-average earnings growth potential and re-valued its shares accordingly.
The Adviser will not invest in a company solely on the basis that its shares appear undervalued; above-average earnings growth potential is an equally essential criterion for investment candidates, and the Adviser will seek to determine whether the current Price-to-Earnings ratio of a stock adequately reflects the company's potential for rapid earnings growth, as measured by the Adviser's expectations for a company's three- to five-year earnings growth. The Adviser will seek to ascertain a specific factor, or catalyst, that can be expected to precipitate above-average, typically above 15% per year, earnings growth in candidates for investment. Such companies are believed to be undergoing fundamental changes that have yet to be noticed by investors, but that the Adviser believes will ultimately result in increases in revenue growth rates, expanding profit margins and/or increases in earnings growth rates.
Catalysts that might precipitate these changes or accelerations in growth and profitability include, but are not limited to, events or developments such as new product introductions or applications, discovery of niche markets, new management, corporate or industry restructures, regulatory change and market expansion. With regards to valuation, the Adviser will invest the assets of the Fund primarily in companies whose Price-to-Earnings ratios appear low relative to future growth potential, or whose stocks can be expected to appreciate in response to rapid earnings growth. The Adviser seeks to invest the assets of the Fund in companies believed to offer ""upside,"" or potential for price appreciation, that the Adviser estimates to be, at a minimum, three times greater than a stock's estimated ""downside,"" or potential for price depreciation.
The Adviser seeks to invest in shares that are, in the view of the Adviser, poised to appreciate significantly within the next 12 to 24 months and whose estimated reward-to-risk profile (as estimated principally using earnings and the Price-to-Earnings ratio) is consistent with the Adviser's criteria. Moreover, the Adviser focuses on securities of companies with the following attributes: Strong management; Leading products or services; Distribution to a large marketplace or growing niche market; Anticipated above-average revenue and earnings growth rates; Potential for improvement in profit margins; and Strong cash flow and/or improving financial position. The Adviser will not sell a stock simply because it is no longer within the Fund's target capitalization range used by the Adviser for the initial purchase, and the holding may remain in the Fund if the Adviser believes the company continues to offer growth potential that is consistent with the Adviser's reward-to-risk requirements.
However, it may sell stocks for the following reasons: The stock reaches the target price set by the Adviser; The stock falls below the downside price limit set by the Adviser; The fundamentals of the stock have deteriorated; or A more attractively valued alternative is available for purchase. The Adviser expects that cash reserves will normally represent under 20% of the Fund's assets."
RHJMX Holdings
Top 10 holdings of Rice Hall James Small Cap Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Icf International, Inc. | 3.10% |
| Construction Partners, Inc. | 2.67% |
| Griffon Corporation | 2.65% |
| Fabrinet | 2.64% |
| Encompass Health Corporation | 2.52% |
| Albany International Corp. | 2.50% |
| Tetra Tech, Inc. | 2.48% |
| Api Group Corporation | 2.47% |
| PowerSchool Holdings Inc | 2.35% |
| Pros Holdings, Inc. | 2.27% |
RHJMX Portfolio Allocation
Asset-class allocation of Rice Hall James Small Cap Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 96.3% |
| Cash & Equivalents | 2.2% |
RHJMX Performance
Total returns for RHJMX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -3.4% |
| 3 years (annualised) | 0.4% |
RHJMX Risk Information
Risk metrics for RHJMX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 20.3%
RHJMX Costs and Fees
RHJMX costs about $100 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.00%
- Gross expense ratio: 2.03%
- Portfolio turnover: 39%
- Brokerage commissions: 9.51 bps of average net assets (SEC N-CEN)
RHJMX Cashflows
Over the 12 months to 2024-01, Rice Hall James Small Cap Portfolio had net inflows of $7.04M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-01 | $95.02K |
| 2023-12 | $919.69K |
| 2023-11 | $3.61M |
| 2023-10 | $79.41K |
| 2023-09 | $322.70K |
| 2023-08 | $306.50K |
RHJMX Debt Constituents
No individual debt constituents are reported in Rice Hall James Small Cap Portfolio's latest SEC N-PORT filing.
RHJMX Prospectus and SEC Filings
Official Rice Hall James Small Cap Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-02-28
- Prospectus (485BPOS) — filed 2022-02-28
- Prospectus (485BPOS) — filed 2021-02-26
- Portfolio holdings (N-PORT) — filed 2024-03-28
- Portfolio holdings (N-PORT) — filed 2023-12-29
- Portfolio holdings (N-PORT) — filed 2023-09-28
- Annual census (N-CEN) — filed 2024-01-17
- Annual census (N-CEN) — filed 2023-01-17
Related Funds
Other United States Small Cap Blend / Core Industrials 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.