- The Polen U.S. Small Company Growth Composite Portfolio (the “Portfolio”) returned 29.14%, gross of fees, in the fourth quarter versus 29.61% for the Russell 2000 Growth Index (the “Index”) and 56.41%, gross of fees, for the year compared to 34.63% for the Index.
- The Portfolio tracked the Index in the fourth quarter. Headwinds included an underweight to the health care sector, while stock selection and an overweight in the information technology sector supported returns.
- For the full year, our Portfolio reported strong absolute and relative performance. Our outperformance was driven by strong stock selection and sector allocation, especially in the consumer discretionary and information technology sectors, where we have our greatest exposure.
- We are excited about the long-term prospects in the small-cap space, and we are particularly excited about the potential that digital transformation is unlocking for smaller companies.
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