Carillon ClariVest Capital Appreciation Fund

  • Overview


    ClariVest Asset Management, LLC is the sub-advisor to the Carillon ClariVest Capital Appreciation Fund and an affiliate of Carillon Tower Advisers, Inc. the Investment Adviser.

    The fund seeks capital appreciation by investing in companies that the portfolio management team believes have the potential for attractive long-term growth in earnings, cash flow and total worth of the company. In addition, the portfolio management team prefers to purchase stocks that appear to be undervalued in relation to the company’s long-term growth fundamentals.

    Investment Process

    The manager’s philosophy centers on two core beliefs about investing. First, all things (e.g., companies, industries, sectors and economies) cycle. Second, most people forget or inefficiently react to this first thing. The manager focuses on identifying companies that surprise the market by their participation in an earnings growth cycle. The team seeks to earn excess return as corresponding investor cynicism about this participation declines from elevated levels.

    Initial investments are focused on companies that have recently entered or are extending an earnings cycle. They tend to have an improving foundation of earnings, cash flow, sales, etc., and are typically surrounded by some level of cynicism or investor neglect.

    The selection process is built on the idea that good investing discipline starts with an explicit identification of what one is looking for combined with the willingness and ability to look broadly for it. The manager believes quantitative tools are particularly good at addressing both these requirements. They force the investor to clearly identify the type of investment opportunity he or she seeks while allowing the investor to objectively look across a broad universe for those opportunities.

    Starting the process with quantitative tools provides confidence that opportunities fit within the team’s philosophy but the manager believes that the subjective nature of investing requires the steady hand of an experienced professional. The manager’s long-tenured investment professionals use their judgment and expertise to confirm potential investment ideas uncovered by the process. The final decision is theirs to make.


    • Take advantage of the breadth provided by quantitative tools and the depth of qualitative analysis to identify both the rewards and the risks associated with potential investments
    • Maximize portfolio diversification through explicit early identification of the risks associated with each potential investment idea
    • Earn excess return by buying companies that “surprise” the market as they overcome negative or cynical sentiment

    A Word about Risk

    As with all equity investing, there is the risk that an unexpected change in the market or within the company itself may have an adverse effect on its stock. The biggest risk of equity investing is that returns can fluctuate and investors can lose money.

    Growth companies are expected to increase their earnings at a certain rate. When these expectations are not met, investors may punish the stocks excessively, even if earnings showed an absolute increase. Growth company stocks also typically lack the dividend yield that can cushion stock prices in market downturns.

    Key Facts

  • Investment Team

    Capital Appreciation Fund Investment Team

    David Pavan

    David Pavan, CFA

    Portfolio Co-manager

    24 Years Of Industry Experience

    17 Years With Company

    Frank Feng

    Frank Feng, Ph.D.

    Portfolio Co-manager

    19 Years Of Industry Experience

    16 Years With Company

    Ed Wagner

    Ed Wagner, CFA

    Portfolio Co-manager

    23 Years Of Industry Experience

    13 Years With Company

    Stacey Nutt

    Stacey Nutt, Ph.D.

    Portfolio Co-manager

    24 Years Of Industry Experience

    17 Years With Company

  • Price & Performance

    Please Select
  • Holdings

    Top 20 Holdings

    Top 10 Industries

  • Literature

    Documents available for download

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Please consider the investment objectives, risks, charges, and expenses of any fund carefully before investing. Contact Carillon Fund Services at 1.800.421.4184 or your financial advisor for a prospectus, which contains this and other important information about the funds. Read the prospectus carefully before you invest or send money.

Not FDIC insured. No bank guarantee. May lose value.

Carillon mutual funds may be offered only to persons in the United States and its territories, and by way of a prospectus. This web site should not be considered a solicitation or offering of any Carillon mutual fund to investors residing outside the United States or its territories.

Carillon Fund Distributors, Inc., Member FINRA. 880 Carillon Parkway, St. Petersburg, FL 33716