Stewart Capital Mid Cap Fund Receives a 4-star Overall Morningstar Rating(TM)
INDIANA, Pa., Jan. 14 /PRNewswire-FirstCall/ -- Stewart Capital Advisors, LLC, a subsidiary of S&T Bancorp, Inc., and the investment adviser for the Stewart Capital Mutual Funds, marked the third anniversary of the Stewart Capital Mid Cap Fund (SCMFX) by receiving an initial 4-star Overall Morningstar Rating™ among 356 mid-cap value funds for the three-year period ended December 31, 2009. The rating is based on risk-adjusted performance. In addition, the Fund received a Morningstar Return rating of Above Average and a Morningstar Risk rating of Low.
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"We are thrilled by our initial Morningstar ratings. Despite having launched the Fund shortly before the worst bear market in nearly 60 years, we have consistently outperformed our benchmarks," stated Malcolm Polley, chief investment officer, Stewart Capital Advisors. "The combination of a disciplined risk-averse approach, flexibility, common sense, and a relatively concentrated portfolio has contributed to this successful outcome."
"To merit this strong rating is an important milestone for S&T Bank and its shareholders," said Todd Brice, president and chief executive officer of S&T Bancorp, Inc. "We congratulate Malcolm and his investment team on this achievement."
The Stewart Capital Mid Cap Fund seeks long-term capital appreciation by investing primarily in equity securities of a relatively small number of intensively researched US companies the adviser believes sell at a discount to their true business worth or intrinsic value.
The Fund invests primarily in undervalued mid-cap stocks and therefore is subject to the possibility that value stocks or mid-cap stocks may temporarily fall out of favor or perform poorly relative to other types of investments. While stocks of mid-cap companies may be slightly less volatile than those of small-cap companies, they still involve substantial risk. Because the Fund invests in a relatively limited number of securities, it may present greater risk than a more broadly diversified portfolio.
About Morningstar Ratings
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. As of December 31, 2009, the Stewart Capital Mid Cap Fund received the following star rating among US-domiciled mid-cap value funds for the following time period: 4 stars (among 356 funds) for the three-year period. Past performance is no guarantee of future results.
The Morningstar Risk Rating is an annualized measure of a fund's downside volatility over a three-, five-, or ten-year period. This is a component of the Morningstar Risk-Adjusted Return. Morningstar Risk Rating is derived directly from Morningstar Risk. In each Morningstar Category, the top 10% of investments earn a High rating, the next 22.5% Above Average, the middle 35% Average, the next 22.5% Below Average, and the bottom 10% Low. Investments with less than three years of performance history are not rated. The Morningstar's Return rating figures a fund's performance relative to its class based on total returns.
© 2010 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
About Stewart Capital Advisors, LLC
In addition to serving as the investment adviser for the Stewart Capital Mutual Funds, Stewart Capital Advisors, LLC manages private accounts for individuals and institutions and has over $900 million in assets under management. For more information, visit stewartcap.com.
About S&T Bancorp, Inc.
Headquartered in Indiana, PA, S&T Bancorp, Inc. operates 55 offices within Allegheny, Armstrong, Blair, Butler, Cambria, Clarion, Clearfield, Indiana, Jefferson and Westmoreland counties. With assets of $4.2 billion, S&T Bancorp, Inc. stock trades on the NASDAQ Global Select Market under the symbol STBA. For more information, visit stbank.com.
SOURCE Stewart Capital Advisors, LLC
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