CM Small Cap Equity Value

Strategy Facts

Inception Date April 2011
Minimum Investment $2 Million
GIPS® Compliance Contact Us
Literature Contact Us
Portfolio Managers James D. Brilliant, CFA

Our Commitment

It is one of our core beliefs that as the advisor, we invest our own money in the same investments as our private clients and mutual fund shareholders. Therefore, our officers, employees, and their families have a substantial amount, if not all, of their investments in one or more of the private account and mutual fund strategies that we manage.

Strategy Name

CM Small Cap Equity Value

Strategy Type

Small Cap Value


Long-Term Growth of Capital

Investment Strategy

  • We focus on companies that we believe are selling at deep discounts to our appraisals of their intrinsic values and that have market capitalizations of $2.5 billion or less, or equal to the largest holding in the Russell 2000 Value Index at the time of purchase.
  • The valuation methods we use to determine the intrinsic value of a company include one or more of the following: historical analysis, segment analysis, free cash flow analysis, acquisition analysis, leveraged buyout analysis, and discounted cash flow analysis.
  • Included in the valuation process are both quantitative and qualitative factors to help evaluate the key revenue drivers of the business, its risks/headwinds, its potential rewards, its unique characteristics, if any, and the industry dynamics in which the company participates.
  • Though strategy guidelines set the minimum equity exposure at 90%, the targeted equity exposure is 95% to 100%. New cash contributions will typically be invested within a few days of deposit.
  • Alternative investments to common stocks or cash equivalents that may be used to achieve our objective include, but are not limited to, mutual funds, exchange-traded funds ("ETFs"), warrants, rights, and various fixed income securities.

Century Management ("CM") is an independent registered investment adviser.

CM claims compliance with the Global Investment Performance Standards ("GIPS®"), examined from the strategy's inception, April 30, 2011, through December 31, 2016.

This performance was prepared by CM and presented to and examined by Ashland Partners & Company, LLP through March 31, 2015 and by ACA Performance Services from April 1, 2015..

This GIPS® verification and performance examination is generally one to two quarters in arrears of the most recent performance information presented. Thus, while performance figures shown after the verification date are believed to be accurate, they are preliminary and have not yet been examined. To receive a complete list and description of the Firm’s strategies or a GIPS® compliant presentation, please contact us at 1-800-664-4888, or write to us at 805 Las Cimas Parkway, Suite 430, Austin, Texas 78746.