Zevenbergen

Zevenbergen open-end and exchange-traded products are more expensive 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. With an average asset-weighted tenure of eight years among the longest-tenured managers at Zevenbergen, the firm is on par with peers. Seasoned teams tend to have more experience to draw upon should they need to weather turbulent market conditions. Zevenbergen has had high portfolio management turnover over the past five years compared with peers, detracting from its rating, as long-term stability tends to go together with positive results.