The fund seeks capital appreciation in the long term by investing in mega-and large-size companies in the United States.
The investment process is designed to identify quality businesses with sustainable competitive advantages. The investment team believes quality companies create value that can over time provide attractive returns with less risk than the overall market.
Next, the research team uses a proprietary index to include only those businesses that have produced a return on shareholder equity of 15% or greater in each of the past ten years.
The team narrows the investable universe to a list of companies demonstrating consistent earnings growth and exceptional business performance.
The portfolio is focused with companies trading at a discount to their estimated intrinsic value.
The fund must always own the securities of a minimum of 15 different companies in its portfolio.
The fund seeks capital appreciation in the long term by investing in small-and mid-size companies in the United States.
The investment process is designed to identify quality businesses in the benchmark index with sustainable competitive advantages. The investment team believes quality companies create value that can over time provide attractive returns with less risk than the overall market.
Next, the research team focuses on companies that are estimated to trade below their fair values, and are out of favor for temporary reasons.
Then the research team relies on fundamental analysis to look for high-quality companies whose future earnings growth potential is not reflected in their current market prices.
In addition, the team utilizes a proprietary index to include only those businesses that have produced a return on shareholder equity of 15% or greater in each of the past ten years.
Other aspects of fundamental analysis include an assessment of a company’s industry, strategy, competitive advantages, business segments, geographic distribution, growth and profitability, and financial statements.
The team also evaluates a company’s discounted cash flow models, relative valuation methods and ratio methods and narrows the investable universe to a list of companies demonstrating consistent earnings growth and superior business performance.
Then the manager constructs a diversified portfolio from a list of companies favored by the research team and allocates capital based on its conviction level.
The portfolio holds between 30 and 50 securities, and strives to be fully invested at all times.
The fund must always own the securities of a minimum of 25 different companies in its portfolio.
