Location: Wellesley, Mass.
Principals: John C. Bogle, president; Keith D. Hartt, director of research
Style: Small-cap equity manager
AUM as of June 30: $971 million
Three-year annualized performance: 4.61%
Benchmark (Russell 2000):
Three-year alpha: 7.03
Bogle investment management was founded by John Bogle Jr., former partner at Numeric Investors LP, Cambridge, Mass., and the son of Vanguard founder John Bogle, and Keith Hartt, who was research analyst for the quantitative group at Fidelity Investments, Boston.
Bogle Investment uses a core-small cap strategy with a slight growth tilt, emphasizing fundamental information that is analyzed quantitatively, with a focus on earnings quality, earning expectations and relative valuation.
"We add value through stock selection," said Lisa LaFrance, director of client services. "We find financial quality where we see trends in earnings that we expect will improve in the future. It gives us a head start to get in early."
The portfolio is well diversified, with 150 to 180 stocks, and it is designed to have the look and feel of the Russell 2000 index, although it is actively managed. It does not make big bets on sectors, Ms. LaFrance said.
The fund closed last year when it reached $450 million.
Doug DuMond, president and CEO of Overture Asset Managers, New York, which follows and invests in emerging managers, praised Mr. Bogle's policy. "I like his willingness to close a fund and his policy of limiting inflows when the fund gets too large."