Equity

Global Equity Income Strategy

The strategy pursues long-term capital appreciation and aims to deliver positive excess returns relative to the Russell 2000 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: It's been a wild ride for investors so far this year. One day markets are free falling and the next day they're rallying. We think that equity income could potentially provide investors some calm amid the chaos. Now over the last few years, growth has really dominated, so it's easy to see why income may have been left behind. But if we look back, we can see why income investors choose to have income focused portfolios in their allocations. Now, the average yield on the MSCI ACWI over the last 25 years has been 2.4%. While low on a standalone basis, the volatility of that figure has been just 1% over that time. Compare that to the price volatility, which is 18%. So, what this shows us is income is the most stable component of total return. Now, if you'd taken $1,000 and invested that 25 years ago in the MSCI ACWI, just focusing on the price return, you would have just over $2,700 today. Now, if you had reinvested the income over that time period, you would have just over $4,200 today. Now that's the power of compounding. So, we often hear investors have some concerns over equity income portfolios. They may be scared of unreliable dividends, missing out on growth stock opportunities, and having too much value in their portfolios. Now, we think it's possible to overcome these challenges. For example, adding another income source into the portfolio, such as premiums from selling options and allowing a small amount of non-dividend-paying securities into the portfolio, and, finally, by being very focused on balanced exposures across regions, sectors, and factors. Now, designed carefully, we believe that global equity income portfolios can be a powerful component of an investor's allocation, delivering both income and capital growth in a well-diversified portfolio.

Composite performance

Average annual returns

(as of 3/31/2025)

1/1/2013

	1M	3M	YTD	1Y	3Y	5Y	10Y	Inception
Composite (Gross)	-3.19	1.83	1.83	10.29	9.53	16.98	9.17	10.25
Composite (Net)	-3.23	1.69	1.69	9.69	8.86	16.25	8.45	9.51
Benchmark	-3.95	-1.32	-1.32	7.15	6.91	15.18	8.84	9.54

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

	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Composite (Gross)	20.84	21.46	-15.74	22.06	5.76	23.36	-9.39	24.58	10.02	-2.53
Composite (Net)	20.18	20.68	-16.30	21.27	5.02	22.51	-10.03	23.72	9.25	-3.20
Benchmark	17.49	22.20	-18.36	18.54	16.25	26.60	-9.41	23.97	7.86	-2.36

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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