However, an area of strength for the firm is that they've delivered strong risk-adjusted returns for shareholders, with an average five-year Morningstar Rating of 4.5 stars across its open-end and exchange-traded products. The metric measures the risk-adjusted performance of an asset manager's currently live funds. Impact Shares has had higher portfolio management turnover than peer firms in the past five years. Turnover in the portfolio-management ranks can happen for a number of reasons, including fund mergers and liquidations, portfolio managers moving into other roles, or portfolio managers leaving the firm. In some cases, such change may not signal a serious or immediate problem at the firm, but can still be disruptive for fundholders, hinder the effectiveness of a firm’s investment processes, or suggest a weaker investment culture. With an average asset-weighted tenure of six years among the longest-tenured managers at Impact Shares, 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.
Okta Earnings: Macro Headwinds Continue to Impact Sales Motion Even as Profitability Grows
Revenue and profitability exceeded our estimates, but we saw weaknesses in customer additions and sentiment.
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