BeeHive

BeeHive open-end and exchange-traded products are costlier than similarly distributed funds at other highly-rated asset managers, on average in the second most expensive quintile of category peers. The higher expense profile contributes negatively to the firm's overall stewardship rating and creates a larger performance hurdle. BeeHive management has lacked continuity over the past five years, denoted by higher-than-average portfolio manager turnover, which detracts from the firm's stewardship rating. On average, BeeHive's longest-tenured portfolio managers have accrued 11 years of tenure. This level of manager experience should give investors confidence in the group's ability to handle differing market conditions.