Equity

Discovery All Cap Growth Equity Strategy

The strategy pursues long-term outperformance of the Russell 3000 Growth Index by investing in three distinct types of growth stocks: core growth companies, developing situations, and valuation opportunities.

Competitive advantages

Right side of change

Identifies companies on the “right side of change” using a non-formulaic approach to idea generation 

Fundamental edge

Develops bottom-up fundamental “edge” through all-cap “surround the company” research

Risk/return assessment

Assesses each holding for attractive risk and return to avoid excessive valuations

Portfolio construction

Constructs portfolios to balance risk across core holdings, developing situations, and valuation opportunities

Investment approach

Long-term performance starts with identifying companies on the “right side of change.”

Unlock the fundamental research “edge” that can drive long-term outperformance.

The investment process focuses on establishing a consistent fundamental research “edge” that systematically distinguishes between fundamental factors and the expectations of other investors.

Assess each holding for an attractive risk and return profile.

The individual position weighting is driven by research conviction and a favorable risk/reward skew relative to a valuation target.

Construct portfolios to achieve balance.

The team adheres to a portfolio construction process that balances “core growth” holdings, “developing situations,” and “valuation opportunities.”  This allows for diversification and a balanced risk/reward profile.

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Composite performance

Average annual returns

Average annual returns

(as of 3/31/2024)
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Gross)
1.73
10.68
10.68
33.00
3.65
13.02
12.75
12.83
Composite (Net)
1.66
10.46
10.46
31.94
2.82
12.11
11.82
11.92
Benchmark
1.81
11.23
11.23
37.95
11.54
17.82
15.43
11.66

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Calendar year

Calendar year

2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund
33.61
-37.04
15.25
43.43
37.10
0.33
34.68
0.51
1.45
3.98
Benchmark
41.21
-28.97
25.85
38.26
35.85
-2.12
29.59
7.39
5.09
12.44

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Our team
Meet the investment team

The team’s philosophy is to provide clients the power of long-term compounding through investing in businesses on the right side of change.  

View Team
Michael T.

Michael T. Smith

Head of Discovery Growth Equity
Christopher

Christopher Warner

Portfolio Manager
Contact Us

We look forward to helping you with your investment needs

 

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