- During the third quarter, the Polen U.S. SMID Company Growth Composite Portfolio (the “Portfolio”) returned 7.11% gross of fees versus the Russell 2500 Growth Index (the “Index”) return of 9.37%. Since inception on April 1, 2020, the Portfolio has returned 62.32% gross of fees compared to the Index return of 45.32%.
- From a company-specific perspective during the quarter, Generac, The Trade Desk, and Epam Systems were the top contributors while Appfolio, Goosehead Insurance, and Alarm.com were the top detractors, based on relative contribution to return.
- The U.S. SMID Company Growth strategy taps into our small cap investing expertise by seeking to capture attractive small cap companies earlier in their lifecycle and allowing us to hold ‘winners’ for longer.
- We believe having conviction in the quality of our businesses and a focus on the long-term is paramount to navigating periods of heightened volatility. While COVID has spurred significant change, we are confident in our portfolio companies’ abilities to meet the challenge.
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