The new fund invests in companies across the U.S. stock market with capitalizations typically greater than $700 million. Its sector weightings are similar to those of the Russell 3000 Index, its performance benchmark, according to a press release.
The fund uses Turner’s proprietary quantitative computer model to evaluate over 70 factors related to a company’s stock and fundamentals that it believes predict future outperformance. Stocks are then ranked by those characteristics and selected for a diversified portfolio of 80 to 130 securities.
The announcement said the fund is managed by David Kovacs, lead portfolio manager and chief investment officer, quantitative strategies. Kovacs is supported by Jennifer K. Clark, co-manager.
The Turner Quantitative Broad Market Equity Fund is available through either Investor Class or Institutional Class share classes. The minimum initial investment in Investor Class shares is $2,500, and the minimum initial investment for Institutional Class shares is $250,000.
Investors may invest in the Turner Quantitative Broad Market Equity Fund effective July 1 directly through the Turner Funds, through Turner’s Distribution Team that does business with investment consultants and defined contribution plan sponsors, and through financial intermediaries who have a relationship with the Turner Funds. The Turner Funds are distributed by SEI Investments Distribution Co.
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