Total Strategy Assets
as of 12/31/2017
Russell 2000® Growth Index
The Small Cap Equity Strategy seeks long-term growth of capital by identifying companies that may benefit from secular long-term growth trends and that have market capitalizations within the range of the largest and smallest companies in the Russell 2000® Growth Index at the time of purchase.
We believe secular growth trends that evolve over extended periods of time (at least three to five years, but typically longer) are the prime drivers of superior, long-term equity returns and that buying companies at attractive valuations helps maximize long-term results.
- Macro review: The team conducts a top-down analysis of prevailing economic and market conditions to help drive investment themes.
- Long-term growth trends: The team identifies well-defined, measurable secular (versus cyclical) growth trends such as technological advancements, that we believe will generate superior growth rates.
- Fundamental analysis: The team considers corporate margin structure, margin sustainability and barriers to entry, among other factors, including competitive advantages.
- Valuation: The team’s multiple regression approach determines an estimate of fair value for each prospective holding. Inputs include, but are not limited to: company profit margin structure, growth rate and measures of balance sheet quality.
James McBride, CFA
Lead Portfolio Manager
Tim Miller, CFA