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Managed Duration Investment Grade Municipal Fund does not have enough data to calculate Mohanram G-Score.
The historical data trend for Managed Duration Investment Grade Municipal Fund's Mohanram G-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Managed Duration Investment Grade Municipal Fund Annual Data | |||||
Trend | Jul17 | Mar18 | |||
Mohanram G-Score | - | - |
Managed Duration Investment Grade Municipal Fund Semi-Annual Data | ||
Jul17 | Jan18 | |
Mohanram G-Score | - | - |
For the Asset Management subindustry, Managed Duration Investment Grade Municipal Fund's Mohanram G-Score, along with its competitors' market caps and Mohanram G-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Asset Management industry and Financial Services sector, Managed Duration Investment Grade Municipal Fund's Mohanram G-Score distribution charts can be found below:
* The bar in red indicates where Managed Duration Investment Grade Municipal Fund's Mohanram G-Score falls into.
The calculation of the Mohanram G-score consists of eight criteria. Assign one point for each criterion met, then add up all the points to get the G-Score.
Profitability
Question 1. Return on Assets (ROA)
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. It measures how well a company uses its asset to generate earnings.
Score 1 if ROA > ROA Industry Median, 0 otherwise.
Question 2. Cash ROA
Cash ROA equals to Cash Flow from Operations divided by average Total Assets. It measures how well a company uses its asset to generate cash.
Score 1 if Cash ROA > Cash ROA Industry Median, 0 otherwise.
Question 3. CFO and Net Income
Score 1 if CFO > Net Income, 0 otherwise.
Earnings Predictability
Question 4. Earnings Variability
Earnings Variability is measured as the variance of a firm's ROA in the past five years.
Score 1 if Earnings Variability < Earnings Variability Industry Median, 0 otherwise.
Question 5. Sales Growth Variability
Sales Growth Variability is measured as the 5-year variance in sales growth.
Score 1 if Sales Growth Variability < Sales Growth Variability Industry Median, 0 otherwise.
Accounting Conservatism
Question 6. Research & Development Intensity
Research & Development Intensity is calcualted by Research & Development divided by the beginning Total Assets.
Score 1 if Research & Development Intensity > Research & Development Intensity Industry Median, 0 otherwise.
Question 7. CAPEX Intensity
CAPEX Intensity is calcualted by Capital Expenditure divided by the beginning Total Assets.
Score 1 if CAPEX Intensity > CAPEX Intensity Industry Median, 0 otherwise.
Question 8. Advertising Expenditure Intensity
Advertising Expenditure Intensity is calcualted by Advertising Expenditure divided by the beginning Total Assets. Note that Advertising Expenditure is not reported as a seperate line item for many companies, thus Selling, General, & Admin. Expense is used in this calculation.
Score 1 if Advertising Expenditure Intensity > Advertising Expenditure Intensity Industry Median, 0 otherwise.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
* Note that all the Industry Median used for comparison in his original research, are substituted with Sector Median due to the limitation of data within certain countries.
Good or high score = 6, 7, 8
Bad or low score = 0, 1
Managed Duration Investment Grade Municipal Fund (NYSE:MZF) Mohanram G-Score Explanation
Partha Mohanram is the John H. Watson Chair in Value Investing at Rotman and the Acting Vice-Dean of Research Strategy and Resources.
In 2000, he wrote a research paper called "Separating Winners from Losers Among Low Book-to-Market Stocks Using Financial Statement Analysis".
This paper tests whether a strategy based on financial statement analysis of low book-to-market (growth) stocks is successful in differentiating between winners and losers in terms of future stock performance. Based on the research, a strategy based on buying high G-score (6, 7 or 8) firms and shorting low G-score (0 or 1) firms consistently earns significant excess returns. Further, the results do not support a risk based explanation for the book-to-market effect as the strategy returns positive returns in all years, and firms that ex-ante appear less risky have better future returns.
To conclude, one can use a modified fundamental analysis strategy (G-score) to identify mispricing and earn substantial abnormal returns.
Thank you for viewing the detailed overview of Managed Duration Investment Grade Municipal Fund's Mohanram G-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Karpus Management, Inc. | 10 percent owner | 183 SULLY'S TRAIL, PITTSFORD NY 14534 |
George W Karpus | 10 percent owner | |
David Lebisky | officer: Chief Compliance Officer | 11601 WILSHIRE BOULEVARD, SUITE 1200, LOS ANGELES CA 90025 |
Wells Fargo Municipal Capital Strategies, Llc | 10 percent owner | 375 PARK AVENUE, NEW YORK NY 10152 |
Wells Fargo & Company/mn | 10 percent owner | 420 MONTGOMERY STREET, SAN FRANCISCO CA 94163 |
Bank Of America Na | 10 percent owner | 100 N. TRYON STREET, CHARLOTTE NC 28255 |
Blue Ridge Investments, L.l.c. | 10 percent owner | ONE BRYANT PARK, NEW YORK NY 10036 |
Suzanne P. Welsh | director | C/O MBIA INC., 113 KING STREET, ARMONK NY 10504 |
Ellen D Harvey | director | |
Lisa R Grosswirth | officer: Secretary | 2 HANSON PLACE, 12TH FLOOR, BROOKLYN NY 11217 |
Thomas Stabile | officer: Treasurer | 200 PARK AVE, 7TH FLOOR, NEW YORK NY 10166 |
Thomas Edgar Spock | director | 43 STONEYSIDE DRIVE, LARCHMONT NY 10538 |
Robin J. Shulman | officer: Chief Compliance Officer | 200 PARK AVE, 7TH FLOOR, NEW YORK X1 19103 |
Adam J Nelson | officer: Assistant Treasurer | 227 WEST MONROE STREET, CHICAGO IL 60606 |
Michael P Megaris | officer: Assistant Secretary | 2455 CORPORATE WEST DRIVE, LISLE IL 60532 |
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