Equity

SMID Cap Growth Equity Strategy

The strategy seeks long-term outperformance of the Russell 2500 Growth Index by investing in three distinct types of growth stocks, including core growth companies, developing situations, and valuation opportunities.

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

(as of 6/30/2024)

12/1/2000

	1M	3M	YTD	1Y	3Y	5Y	10Y	Inception
Composite (Gross)	0.08	-1.55	9.06	11.82	-7.88	6.11	9.59	9.81
Composite (Net)	0.01	-1.76	8.59	10.86	-8.67	5.19	8.61	8.80
Benchmark	-0.54	-4.22	3.93	9.02	-4.11	7.58	8.77	8.05

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

	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Composite	20.48	-37.66	-4.77	62.40	39.18	-6.87	29.30	7.54	-1.30	0.71
Benchmark	18.93	-26.21	5.04	40.47	32.65	-7.47	24.46	9.73	-0.19	7.05

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 seeks a style-pure dedication to growth, targeting consistency of returns and focusing on fundamental, bottom-up, all-cap research to identify businesses with sustainable growth.

View Team