What is a reasonable expectation for portfolio turnover in the various strategies?
A portfolio such as U.S. Large Company will have relatively low turnover since companies in the S&P 500 index which it attempts to track are replaced infrequently. Turnover is generally higher for strategies focusing on the small capitalization or value dimensions of the equity market. In order to maintain the desired small cap or value characteristics, stocks are sold as they move out of a pre-determined buy/hold range.
