Equity

Global Equity Income Strategy

The strategy pursues long-term capital appreciation and aims to deliver positive excess returns relative to the MSCI All Country World (Net) Index by using a disciplined “active quant” approach that combines systematic quantitative modeling with qualitative validation.

Products offered

Separate Account
- Global Equity Income

Active approach

The team’s active approach to systematic factor-based investing aims to generate alpha for their clients superior to passive approaches.

Cutting-edge but transparent portfolios

Clients benefit from the latest cutting-edge techniques with full transparency into the drivers of risk and return in their portfolios.

Continuous innovation

While founded on decades of research, continuous innovation is core to the team’s fundamental beliefs.

Investment approach

An active approach to systematic factor-based investing

A fundamental approach, systematically implemented

The team’s approach is grounded in fundamental insights that are implemented systematically, resulting in intuitive portfolios.

Dynamic approach to factor selection

Thoughtful factor definitions combined with a dynamic modeling framework enable flexibility to adapt to changing market conditions.

Multi-dimensional risk management

The team maintains an intense focus on managing risk models and tools to effectively manage risk and control for unintended exposures.

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Transcript

Sophie Scott: Just as working individuals rely on a regular income, those investing in income-generating strategies deserve an income they can count on. By leveraging dividends from equities and premiums from selling options, our approach seeks to provide a 6% per annum distribution yield paid in equal monthly installments. While the capital value of the equity will vary by having a smooth and targeted yield, this will improve the reliability of the income we deliver to investors, giving investors one less thing to worry about.

Income investing and capital growth doesn't always go hand in hand. While income stocks can provide a reliable and steady income, their relatively stable capital growth can sometimes result in potentially muted total returns. While most equity income portfolios require a dividend from every stock, we're able to invest up to 10% of the portfolio in non-dividend-paying securities, allowing us the potential to identify attractive growth stock opportunities. Combining this with targeting a beta of one to the broad global equity markets, we believe it's possible for investors to achieve income and growth in one portfolio.

Certain sectors and regions can often pay a higher dividend—think utilities versus technology or the UK versus the US. Left unchecked and focusing solely on generating a high yield can potentially result in an unbalanced portfolio subject to style risk, concentration risk, and potentially missing out on growth stock opportunities. Now, our approach is intentionally designed to overcome these risks. We tightly manage our sector and region exposures and explicitly target a balanced factor profile. We believe actively balancing each of these dimensions in our approach enables us to deliver income and capital growth in a well-balanced portfolio.

Composite performance

Average annual returns

(as of 12/31/2025)

1/1/2013

	1M	3M	YTD	1Y	3Y	5Y	10Y	Inception
Composite (Gross)	1.77	5.32	30.50	30.50	24.19	14.52	12.31	11.74
Composite (Net)	1.73	5.18	29.78	29.78	23.47	13.82	11.57	11.00
Benchmark	1.04	3.29	22.34	22.34	20.65	11.19	11.72	10.78

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

	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Composite (Gross)	30.50	20.84	21.46	-15.74	22.06	5.76	23.36	-9.39	24.58	10.02
Composite (Net)	29.78	20.18	20.68	-16.30	21.27	5.02	22.51	-10.03	23.72	9.25
Benchmark	22.34	17.49	22.20	-18.36	18.54	16.25	26.60	-9.41	23.97	7.86

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 believes company returns are predictable based on quantitative factors. They seek to systematically harvest these factors to generate alpha for their clients.

View Team

Justin Carr

Portfolio Manager

Vince Fioramonti

Portfolio Manager

Key risks

Market risk: Security markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments with different sectors of the market and different security types reacting differently to such developments.

Equity securities risk: Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, such as management performance, financial condition, and market demand for the issuer's products or services, as well as factors unrelated to the fundamental condition of the issuer, including general market, economic, and political conditions.

Small-cap securities risk: If a strategy invests in the securities of smaller-capitalization companies, these securities tend to be more volatile and less liquid than those of larger companies.

Foreign securities risk: If a strategy invests in the securities of non-U.S. issuers, these investments may be subject to lower liquidity, greater price volatility, and risks related to adverse political, regulatory, market, or economic developments and may be affected by changes in foreign currency exchange rates.

Investors should know that this strategy deployed may be subject to additional investment risks. For important information about the investment manager, please refer to Form ADV Part 2.

We look forward to helping you with your investment needs

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