Is Carillon Scout Mid Cap I (UMBMX) a Strong Mutual Fund Pick Right Now?

There are plenty of choices in the Mid Cap Growth category, but where should you start your research? Well, one fund that you should consider investigating is Carillon Scout Mid Cap I (UMBMX). UMBMX has a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.ObjectiveUMBMX is part of the Mid Cap Growth section, a segment that boasts a wide array of possible selections. While Mid Cap Growth mutual funds choose companies with a stock market valuation between $2 billion and $10 billion, stocks in these funds are also expected to show broad considerable growth opportunities for investors compared to their peers. To be considered a growth stock, companies must consistently report impressive sales and/or earnings growth.History of Fund/ManagerUMBMX is a part of the Carillon family of funds, a company based out of St. Petersburg, FL. Carillon Scout Mid Cap I made its debut in November of 2006, and since then, UMBMX has accumulated about $2.69 billion in assets, per the most up-to-date date available. A team of investment professionals is the fund's current manager.PerformanceInvestors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 11.48%, and is in the middle third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 5.26%, which places it in the bottom third during this time-frame.It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. UMBMX's standard deviation over the past three years is 18.41% compared to the category average of 15.68%. Over the past 5 years, the standard deviation of the fund is 20.08% compared to the category average of 16.64%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsInvestors should note that the fund has a 5-year beta of 1.03, which means it is hypothetically as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. The fund has produced a negative alpha over the past 5 years of -3.86, which shows that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.HoldingsInvestigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is primarily on equities that are traded in the United States.This fund is currently holding about 79.48% in stocks, which have an average market capitalization of $24.72 billion. The fund has the heaviest exposure to the following market sectors: Finance Technology Industrial Cyclical Turnover is about 82%, so those in charge of the fund make more trades in a given year than the average of comparable funds.ExpensesFor investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, UMBMX is a no load fund. It has an expense ratio of 0.96% compared to the category average of 0.94%. From a cost perspective, UMBMX is actually more expensive than its peers.Investors need to be aware that with this product, the minimum initial investment is $1,000; each subsequent investment has no minimum amount.Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.Bottom LineOverall, even with its comparatively similar performance, average downside risk, and higher fees, Carillon Scout Mid Cap I ( UMBMX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.Don't stop here for your research on Mid Cap Growth funds. We also have plenty more on our site in order to help you find the best possible fund for your portfolio. Make sure to check out www.zacks.com/funds/mutual-funds for more information about the world of funds, and feel free to compare UMBMX to its peers as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (UMBMX): Fund Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks