Strategies & Capabilities


Fundamental Growth and Core Equity

Pursuing Quality, Sustainable Growth and Reasonable Valuation

We are laser-focused on finding quality companies that can deliver growth that is stronger and more enduring than the market’s expectations.

These companies are rare, so when we find them we pursue them with confidence and conviction—but we never abandon our valuation discipline. 

Our Investment Platform

Our team and investment philosophy are united by a common belief—that quality companies with sustainable growth at attractive valuations can drive above-average, long-term investment returns.


Our Expertise


$16.3B

In AUM

9

Actively managed strategies including global, US, international, China and EM

33

Investment professionals across six countries


17

Average tenure in years of portfolio managers


20

Average years of experience for research analysts


1935

Year we launched our first fund

Information as of Sept 30, 2019


Why Us?


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
  • Low turnover
  • Fiduciary mindset

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

High-Conviction Portfolios

  • Concentrated portfolios
  • 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.

1
Quality

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.


2
Sustainable Growth

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.


3
Reasonable Valuation

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.


Research Process


Our disciplined, repeatable process focuses our attention on the most compelling opportunities.

Idea Generation

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.

Research Portfolio

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.

Portfolio Integration

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.


Our Team


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

George Bicher

CIO, Emerging Markets


Our Latest Thinking


Newsletter - January 2020

In the latest quarterly newsletter, there is a focus on emerging markets – both in terms of how the team is navigating the ever-changing EM investment landscape and where they consider long-term growth opportunities to lie.

Read more


Contact Us


Tom Kronzer, CFA

Portfolio Strategist

We are passionate about investing in sustainable growth through active management.

Email Tom for more Information

Disclosures

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.