Citywire Due Diligence Report: U.S. Equities 2022 Roundtable

Watch Rayna Lesser Hannaway, head of Polen’s Small Company Growth team, discuss her outlook for small-cap investing

In a wide-ranging roundtable discussion covering the spectrum of U.S. equities, Rayna Lesser Hannaway shares her unique perspective on small-cap investing.

She explains why active management is so compelling in this market environment and the specific company attributes that Polen Capital’s Small Company Growth team seeks when conducting research and analysis.

With an active approach in small cap, you can be more discerning.

—Rayna Lesser Hannaway, CFA
Head of Team, Portfolio Manager & Analyst


Panel Discussion Highlights

  • Active Approach: The potential benefits of focusing on companies with the financial flexibility to fund their own growth (7:17)
  • Technology Adoption: Why we believe today’s market environment does not parallel the dot-com bust (16:01)
  • ESG Alignment: How sustainability factors are intrinsic to our process as a fundamental active manager doing deep research (28:51)
  • Secular Tailwinds: Prioritizing the companies that Polen believes are on the right side of change (35:12)
  • Winners & Losers: Converging headwinds like COVID-19, inflation, and supply chain obstacles are testing companies in a way we believe supports the case for active investing (43:50)
  • Stock Opportunities: Widening the lens to separate short-term “pandemic beneficiaries” from longer-term growth businesses (47:03)
  • Intangible Assets: We prize asset-light companies that tend to be less exposed to supply chain disruptions, but we think individualized, deep-dive analysis remains essential to understand risks holistically (57:10)

We are focused on companies that have strong, secular tailwinds.

—Rayna Lesser Hannaway, CFA
Head of Team, Portfolio Manager & Analyst

Important Disclosures
Please note that this document is a condensed summary of the full roundtable interview conducted by Citywire.

This information is provided for illustrative purposes only. Opinions and views expressed are as of the date of this roundtable and may involve a number of assumptions and estimates which are not guaranteed and are subject to change without notice or update. Although the information and any opinions or views given have been obtained from or based on sources believed to be reliable, no warranty or representation is made as to their correctness, completeness, or accuracy. Opinions, estimates, forecasts, and statements of financial market trends that are based on current market conditions constitute our judgment and are subject to change without notice, including any forward-looking estimates or statements which are based on certain expectations and assumptions. The views and strategies described may not be suitable for all clients. This document does not identify all the risks (direct or indirect) or other considerations which might be material to you when entering any financial transaction.

Active Management: an approach to investing where an investor, a professional money manager, or a team of professionals is tracking the performance of an investment portfolio and making buy, hold, and sell decisions about the assets in it.