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Actively managed strategies including global, US, international, China and EM
Investment professionals across six countries
Average tenure in years of portfolio managers
Average years of experience for research analysts
Year we launched our first fund
Information as of Sept 30, 2019
Our investors seek the long-term risk and return characteristics that only a specialist, high conviction fundamental manager can provide.
Investing Like Owners, Not Traders
Long-term perspective united by a common philosophy
Seasoned Team With A Singular Focus
Time- and market-tested track records
Long-tenure with a collaborative culture
Interests aligned with clients’ objectives
Robust Investment Process
Deep fundamental research conducted globally
Rigorous and disciplined process enhances repeatability of results
Proprietary Confidence Quotient (CQ) framework
Belief that high-conviction portfolios will lead to greater alpha
Boutique With Backing
Focused independent investment process
Support of global investment firm
The Three Pillars of Our Philosophy
We invest confidently at the intersection of sustainable growth, quality and reasonable valuations.
Our analysis of quality is forward-looking, focusing on qualitative attributes that lead to sustainable growth. The Confidence Quotient (CQ) is our proprietary analytical framework that quantifies how we think about quality.
We believe that the power of long-term, compounding growth is underappreciated by the market and offers unrecognized investment opportunity. Our extended investment horizon is a crucial part of how we generate alpha.
We don’t chase growth at any price. We insist on a valuation that is justified by the firm’s growth potential. Our valuation discipline creates a growth margin of safety.
Quantifying Our Confidence
CQ provides structure to how our team evaluates quality, bringing rigor, measurability and consistency to the process of assessing five elements of quality that we score and track over time. Each element of CQ is backed by a detailed scorecard that provides a framework for determining our confidence in the company’s quality.
Our disciplined, repeatable process focuses our attention on the most compelling opportunities.
Drawing on the domain expertise of our analysts and input from portfolio managers, we identify companies for further analysis. Our quantitative scoring tool reflects our investment philosophy and augments our analysts’ judgment.
Fundamental Due Diligence
We seek to develop deep conviction in a select group of companies. In addition to our proprietary financial modeling, we use the Confidence Quotient to bring rigor to our assessment of quality.
We invest in our highest-conviction ideas through live research portfolios. These serve as powerful communication tools and capture the track records of each analyst, creating accountability that enhances the alignment of our interests with our clients' long-term objectives.
From the research portfolios, our portfolio managers generate ideas for integration into the final portfolios. Our proprietary dashboards provide advanced analytics from our research team that guide the portfolio integration.
Hiring a fundamental active manager involves a belief in the people as much as the process. Our impressive performance reflects the caliber and stability of our team—and our shared commitment to our fundamental, high-conviction investment philosophy.
Fundamental Growth and Core Leadership Team
Michael Solecki, CFA
Chief Investment Officer
Paul Nestro, CFA
Director of Research
CIO, Emerging Markets
Our Latest Thinking
Newsletter – July 2020
In their latest quarterly newsletter, the Fundamental Growth & Core Equity team explore two themes related to the consumer. One looks at the power of consumer brands to drive growth through economic cycles. On the topic of ecommerce, our analysts consider the evolution of online retailing across the US, China and Latin America and question the impact COVID-19 may have on prospects.
Investing involves risk including the risk of loss of principal.
The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA’s express written consent.
information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor. All material has been obtained from sources believed to be reliable. There is no representation or warranty as to the accuracy of the information and State
Street shall have no liability for decisions based on such information.
The views expressed in this material are the views the Fundamental Growth and Core team through the period ended September 30, 2019 and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.
This information is for informational purposes only, not to be construed as investment advice or a recommendation or offer to buy or sell any security. Investors should always obtain and read an up-to-date investment services description or prospectus before deciding whether to appoint an investment manager or to invest in a fund. Any views expressed herein are those of the author(s), are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. There are no guarantees regarding the achievement of investment objectives, target returns, portfolio construction, allocations or measurements such as alpha, tracking error, stock weightings and other information ratios. The views and strategies described may not be suitable for all investors. SSGA does not provide tax or legal advice. Prospective investors should consult with a tax or legal advisor before making any investment decision. Investing entails risks and there can be no assurance that SSGA will achieve profits or avoid incurring losses.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.
Images of NYSE Group, Inc. are used with permission of NYSE Group, Inc. Neither NYSE Group, Inc. nor its affiliated companies sponsor, approve of or endorse the contents of this program. Neither NYSE Group, Inc. nor its affiliated companies recommend or make any representation as to possible benefits from any securities or investments.