Fund Evaluator:

SGI Small Cap Core Fund I Shares Overview

SGI Small Cap Core Fund I Shares (BOGIX) is an actively managed U.S. Equity Small Blend fund. Summit Global Investments launched the fund in 1999.

The investment seeks to provide long-term capital appreciation. The fund seeks to achieve its objective by investing under normal circumstances at least 80% of the net assets of the portfolio (including borrowings for investment purposes) in the stocks of U.S. companies with market capitalizations, at the time of purchase, that are within the trailing twelve-month range of the market capitalizations of those companies that are included in the Russell 2000® Index ("Small Cap Stocks"). As part of its investment strategy, the Adviser will continue to invest in Small Cap Stocks that the adviser believes will appreciate more than the index.

About SGI Small Cap Core Fund I Shares (BOGIX)

There are 2 members of the management team with an average tenure of 5.22 years: David Harden (2021), Aash Shah (2021). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: Russell 3000 TR USD index with a weighting of 100%. SGI Small Cap Core Fund I Shares has 221 securities in its portfolio. The top 10 holdings constitute 11.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

SGI Small Cap Core Fund I Shares is part of the Equity global asset class and is within the U.S. Equity fund group. SGI Small Cap Core Fund I Shares has 4.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 94.7%. There is 4.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). SGI Small Cap Core Fund I Shares has 0.7% of the portfolio in cash.

Assets Under Management

The fund has $137 million in total assets, which is below the $685 million average for the Small Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

BOGIX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The SGI Small Cap Core Fund I Shares expense ratio is high compared to funds in the Small Blend category. SGI Small Cap Core Fund I Shares has an expense ratio of 1.23%, which is 18% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. SGI Small Cap Core Fund I Shares has a portfolio turnover rate of 168%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 66% for the Small Blend category.

Recently, in the month of July 2026, SGI Small Cap Core Fund I Shares returned -3.6%, which earned it a grade of D, as the Small Blend category had an average return of -2.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

SGI Small Cap Core Fund I Shares has a trailing yield of 0.32%, which is below the 0.42% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

SGI Small Cap Core Fund I Shares Grades

Year to date, the fund has returned 26.1%, 8.0 percentage points better than the category, which translates into a grade of A. The fund has returned 37.0% over the past year (grade of A), 14.5% over the past three years (grade of B) and 8.9% per year over the past five years (grade of B) and 11.5% per year over the past 10 years (grade of A).

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