Strategies

• Concentrated
  – 20-25 all-cap companies
  – We only invest and allocate to our highest conviction ideas
  – Portfolio level risk management is sharpened
  – Enables rigorous and eclectic research
• High Active Share
  – The portfolio is consistently ~85% different from the market
• Growth
  – Focused on high-quality companies that can compound over time
• Long-term
  – Allows us to look beyond consensus towards long term signals instead of quarterly noise
  – Time works for us, not against us with true compounders
  – Our long term view allows us to take advantage of price dislocations caused by short term volatility
  – Tax efficiency is a significant component of our value proposition
• Capacity Constrained
  – Expands investable universe creates more alpha potential
  – Investments can be allocated with agility across market capitalization
• Benchmark Agnostic
  – Managed for risk-adjusted returns without regard to tracking error
  – Mindful of sector and country weightings but focused on best ideas

• Multi-Cap Growth Equity Commentary
• Multi-Cap Growth Equity Update

We construct concentrated portfolios of high-quality growth companies with improving fundamentals purchased with a value discipline. We believe that by having a long-term point of view, we can focus on the true drivers of economic growth rather than short term distractions.– Quoc Tran, Chairman and Chief Investment Officer