Oak Associates, ltd. -Tax-Exempt Institutional Equity Composite


Oak Associates, ltd. has prepared and presented this report in compliance with the Global Investment Performance Standard (GIPS).

Oak Associates, ltd. is an independent investment management firm that manages equity portfolios.  Oak invests in small, medium and large capitalization common stocks.

Performance results are those of Oak Associates, ltd.  Performance has not been altered following any event in the firm’s organization.  Gross-of-fees returns are presented before management and custodial fees, but after all trading expenses.  Net-of-fees returns are presented before custodial fees but after management fees and all trading expenses.  The composite results portrayed reflect the investment of dividends, capital gains and other earnings when appropriate.  Fees vary between accounts in the composite depending on size.  Oak Associates, ltd. stated fee schedule is 100 basis points on the first $4 million USD and 75 basis points on all assets over $4 million USD.  Special fee arrangements are considered.  The deduction of management fees (net of fees) has the effect of decreasing the indicated investment performance. 

The composite is derived from all fully discretionary, tax-exempt, equity accounts with assets greater than $5 million prior to 12/31/04.   As of 12/31/04 no minimum account size is required for inclusion in the composite.  Trade date valuation is used.  No leverage or derivatives has been used in the portfolios.  All accounts in this composite are fee-paying.  Performance results are presented before taxes. The Tax-Exempt Institutional Equity Composite was created in January 1988.  A complete list and description of all composites is available upon request.  

±The benchmark is the Russell 1000 Growth Index, which  measures the performance of the large-cap growth segment  of the U.S. equity universe.  It includes those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values.  The Russell 1000 Growth Index is constructed to provide a comprehensive and unbiased barometer for the large-cap growth segment.  The Index is completely reconstituted annually to ensure new and growing equities are included and that the represented companies continue to reflect growth characteristics.  The Russell 1000 Growth Index is calculated on a total return basis with dividends reinvested and is not assessed a management fee. 

^Dispersion is calculated using the asset-weighted standard deviation of all accounts included in the composite for the entire year.  Dispersion is not presented for period less than one year.  Additional information regarding the firm’s policies and procedures for calculating and reporting performance results is available upon request.

Oak Associates, ltd. claims compliance with the Global Investment Performance Standards (GIPS) and has prepared and presented this report in compliance with the GIPS Standards.  Oak Associates, ltd. has been independently verified for the periods 12/31/86 through 12/31/13.  The verification report(s) are available upon request.

Verification assesses whether (1) the firm has complied with all the composite construction requirements  of the GIPS standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS standards.  Verification does not ensure the accuracy of any specific composite presentation.


For additional disclosure on Oak Associates', ltd. large-growth composite, please click here.

Oak Associates, ltd. - Small-Cap Growth Performance Disclosures


Oak Associates, ltd., (“Oak Associates”) is an independent investment management firm founded in 1985 and registered as an investment adviser with the U.S. Securities and Exchange Commission based in Akron, Ohio.

Performance information represents the Oak Associates Small-Cap Growth Strategy and is the actual performance of the River Oak Discovery Fund, (“RIVSX”) a registered open-end investment company and not an actual Oak Associates performance composite. Oak Associates River Oak Fund performance is presented because the Oak Associates’ Small-Cap Growth Strategy mirrors the River Oak Fund, is managed by the same Portfolio Manager with primary responsibility and is a relevant comparison for the Small-Cap Growth Strategy.  The Small-Cap Growth Strategy is managed on a fully discretionary basis and managed according to the Small-Cap Growth Philosophy.  The Small-Cap Growth Strategy is not a "carve out" from a larger portfolio.
Performance returns include cash and cash equivalents and do reflect the reinvestment of dividends, interest and other earnings.  Performance is presented after the deduction, i.e., net of advisory fees and expenses and after the deduction of commissions.  The expense ratio for the River Oak Fund has been 1.35% since inception, June 2005.

The Russell 2000® Growth Index is a market capitalization-weighted index of growth-oriented stocks of U.S. domiciled companies that are included in this index.  Growth-oriented stocks tend to have higher price-to-book ratios and higher forecasted growth values. The Russell 2000® Index is the most relevant benchmarks for the Oak Associates Small-Cap Growth Strategy because of the nature of the individual securities and holdings representing the Small-Cap Growth Strategy.  The Russell 2000® Index is unmanaged and includes the reinvestment of dividends and earnings.  Individuals cannot invest directly in these indexes.

Performance results for individual client portfolios will vary due to the timing of investments, advisory fee schedules, additions/withdrawals, diversification, length of relationship, and size of positions, among other reasons.


This page was last updated: September 26, 2017
Oak Associates, ltd.
3875 Embassy Parkway - Suite 250, Akron, Ohio 44333
Main Tel: 330-668-1234 Fax: 330-668-2901
Oak Associates, ltd. is an independent investment advisor registered with the U.S. Securities & Exchange Commission.
Institutional Strategies