The firm has seen high portfolio management turnover over the past five years, which detracts from the firm’s rating. A stable team tends to support positive results. Lofty fees for the firm's open-end and exchange-traded funds are a weakness, contributing negatively to Davidson's rating and creating a larger performance hurdle. The firm's fund fees, on average, fall within the second most-expensive quintile of similarly distributed strategies.
Davidson has some investor-friendly attributes, but other attributes warrant caution, leading to an Average Parent Pillar rating.