Bright Rock

An area of strength for the firm is its relatively high portfolio manager retention over the past five years, as long-term stability tends to support positive results. The firm's lineup has been durable. It has had a five-year risk-adjusted success ratio of 100%, meaning that of the strategies with a five-year track record, 100% have both survived and beaten their respective category median on a risk-adjusted basis. A high success ratio indicates good performance and provides insight into a firm’s discipline around investment strategy and product development. Bright Rock open-end and exchange-traded products are priced, on average, among the second most-expensive quintile of similarly distributed strategies. This higher expense profile of its funds creates a larger performance hurdle and contributes negatively to Bright Rock's rating.