Rigorously Pursuing Quality and Sustainable Growth at Reasonable Valuations
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 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.
Research Professionals Across Six Countries
Average Portfolio Manager Team Tenure
Average Research Analyst Industry Experience
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.
We invest confidently at the intersection of sustainable growth, quality and reasonable valuations.
We believe that the power of long-term, compounding growth is underappreciated by the market and offers unrecognized investment opportunity. Our 3-5-year investment horizon is a crucial part of how we generate alpha.
Our analysis is qualitative and forward-looking, zeroing in on attributes that lead to sustainable growth. The Confidence Quotient (CQ) is our proprietary analytical framework that quantifies how we think about quality.
We don’t chase growth at any price. We insist on a valuation that is justified by the firm’s growth potential. Conversely, we don’t sell just because valuation has increased. Our valuation discipline creates a growth margin of safety.
CQ provides structure to how our team evaluates quality, and gives our investors visibility into a process that, for other fundamental managers, is often a “black box.”
It brings 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 tracks to sub-measures that determine our confidence in the company’s quality.
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.
Michael Solecki, CFA
Chief Investment Officer
Paul Nestro, CFA
Director of Research
CIO, Emerging Markets
1 As of June 30, 2019
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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
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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.
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