Firm and Composite Information
Ashford Capital Management, Inc. is an SEC registered advisor founded in 1979 offering discretionary investment management services to individuals and institutions. Registration of an Investment Advisor does not imply a certain level of skill or training. Ashford manages separate accounts and three limited partnerships.
The information provided on this website should not be considered a recommendation to purchase any particular security. There is no assurance that any securities included in Ashford Capital Management, Inc. investment products will remain in the portfolios or that information provided herein will remain the same at the time you receive this material. Any securities discussed do not represent all of the securities recommended for purchase by ACM. It should not be assumed that investments in all securities were or will be profitable. All investments in securities involve risk and the potential for loss of capital. Peer review and Independent Advisory Directors do not protect against all organizational risks. Potential investment risks also include, but are not limited to investments in illiquid securities, the lack of diversification, and potential conflicts of interest in managing multiple portfolios.
Returns are time-weighted. ACM performance results are net of commissions on securities transactions and reflect the deduction from gross returns of all management fees and performance fees where applicable. Figures are not audited and are subject to change. Past performance is not a guarantee of future success.
The Ashford Small Company Growth Institutional Composite was created in June 2017. It includes all institutional accounts that invest in smaller growth companies that are, or have the potential to become, market leaders. This strategy uses proprietary, fundamental research to invest in companies when they have limited institutional recognition and Wall Street coverage. The Composite generally invests in U.S. companies with market capitalizations of $3 billion or less at the time of original purchase. The account minimum for the composite is $1,000,000; it is not necessarily substantially similar to the Russell 2000 or the Russell 2000 Growth Index. All performance calculations are made by Ashford Capital Management, Inc.
Information obtained from third-party sources is believed to be reliable but is not guaranteed. The Firm makes no representation regarding the accuracy or completeness of information provided herein. All opinions and views constitute our judgments as of the date of writing and are subject to change at any time without notice.
Benchmarks
The Russell 2000 Growth Index measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values. This index measures the performance of the 2,000 smallest companies in the Russell 3000 Index, which represents approximately 8% of the total market capitalization of the Russell 3000 Index. The index is market cap-weighted and includes only common stocks incorporated in the United States and its territories. The volatility of the Russell 2000 Growth Index may be materially different from that of the strategy depicted, and the holdings in the strategy may differ significantly from the securities that comprise the Russell 2000 Growth Index. The Russell 2000 Growth Index is calculated on a total return basis with dividends reinvested and is not assessed a management fee. Benchmark returns are not covered by the report of independent verifiers. Returns are calculated by the Frank B. Russell Company.
Performance Calculations
Valuations and returns are computed and stated in U.S. dollars. Results reflect the reinvestment of dividends and other earnings. Gross-of-fees returns are presented before management and custodial fees, but after all trading expenses and withholding taxes. Net-of-fees returns are calculated using actual management fees that were paid and are presented before custodial fees but after management fees, all trading expenses, and withholding taxes. Information regarding Ashford Capital Management, Inc.’s fees is included in its Part 2A of Form ADV. Internal dispersion is calculated using the asset-weighted standard deviation of all accounts included in the composite for the entire year; it is not presented for periods less than one year or when there were five or fewer portfolios in the composite for the entire year. The three-year annualized standard deviation measures the variability of the composite and the benchmark returns over the preceding 36-month period. For periods where 36 monthly returns are not available, the 3 year ex-post STDEV does not apply. Policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request.
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