Investment Objective
Our Global SMID Company Growth strategy seeks to achieve long-term growth by building a concentrated portfolio of outstanding global businesses with competitive advantages and the potential for sustained growth.
Performance
1 Mo | Qtr | YTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Inception | |
---|---|---|---|---|---|---|---|---|
Institutional Class (Net) | -3.82 | -6.17 | -6.17 | -10.17 | -8.87 | - | - | -10.93 |
MSCI ACWI SMID Cap Index | -2.86 | -1.71 | -1.71 | 1.74 | 2.48 | - | - | 2.57 |
2024 | 2023 | |
---|---|---|
Institutional Class (Net) | -3.90 | 11.61 |
MSCI ACWI SMID | 8.68 | 16.02 |
The performance data quoted represents past performance, does not guarantee future results, and there is a risk of an investor losing all or part of their investment in the Fund. Current performance may be lower or higher. Periods over one-year are annualized. Performance figures shown are net of fees for the USD I share class (Institutional), which carry an annual investment management fee of 1.00%, with an annual Ongoing Charge based on the financial year ending 31 December, 2023 of 1.20%. The performance data is net of fees and does not take account of the commissions and costs incurred on the issue and redemption of units. Additional benchmark information is available at the end of the page.
Institutional Class (Net) | MSCI ACWI SMID Cap Index | |
---|---|---|
Alpha | -13.24 | - |
Beta | 1.15 | 1.00 |
Sharpe Ratio | -0.70 | -0.09 |
Upside Capture Ratio | 92.13 | 100.00 |
Downside Capture Ratio | 136.01 | 100.00 |
Information Ratio | -1.63 | - |
Standard Deviation | 21.51% | 17.73% |
Portfolio
NSD Co Ltd | 3.01 |
---|---|
Sanrio Co Ltd | 2.76 |
ExlService Holdings Inc | 2.66 |
Bufab AB | 2.48 |
AddTech AB | 2.47 |
Goosehead Insurance Inc | 2.47 |
Paycom Software Inc | 2.45 |
AAON Inc | 2.42 |
Core & Main Inc | 2.31 |
Pan Pacific International Holdings Corp | 2.27 |
Total | 25.30 |
Weighted Average Market Cap | $6.40B |
---|---|
Polen Long Term EPS Growth Estimate | 17.50% |
Net Debt/EBITDA | 0.50% |
P/E Forward (12m) | 23.80x |
Return on Equity | 21.30% |
Active Share | 97.40% |
Annual Turnover (Since Inception) | 76.70% |
For the avoidance of doubt, the portfolio characteristics are based on the underlying company attributes of the portfolio. This information along with all other information on the website is not intended to be construed or understood in any way to equate to the expected or projected future performance/returns of the portfolio or any Polen portfolio.
Industrials | 34.09 |
---|---|
Information Technology | 19.03 |
Consumer Discretionary | 17.04 |
Financials | 13.94 |
Health Care | 4.79 |
Real Estate | 3.46 |
Materials | 2.17 |
Communication Services | 2.04 |
Consumer Staples | 1.39 |
Cash | 2.05 |
Fund Information
Liquidity | Daily |
---|---|
Management Company | Amundi Ireland Ltd. (as of 8 October, 2021) |
Custodian | The Bank of New York Mellon SA/NV, Dublin Branch |
Investment Manager / Distributor | Polen Capital Management, LLC |
Cut Off | 2pm (Irish Time) |
Fund Umbrella | Polen Capital Investment Funds PLC |
Registered For Sale | Denmark, Estonia, Finland, Iceland, Ireland, Latvia, Lithuania, Norway, Sweden, United Kingdom |
UK Reporting Status | Yes |
Accounting Year-End | 31-December |
SFDR Classification | Article 8 |
Recomended Holding Period | 5 Years |
Performance Fees | None |
This Sub-Fund integrates ESG criteria into its investment process. For full details, please refer to the Pre-Contractual Annex, the Polen Sustainable Investment Policy, and the Polen Capital ESG Policy Statement. The decision of the investor to invest in the promoted fund should consider all the characteristics or objectives of the fund.
An investment in the Fund concerns the acquisition of shares in the Fund and not in any underlying asset of the Fund. As a result, shares held in the Fund do not confer any interest or share in any particular part of the assets of the Fund. The value of the investment in the Fund can reduce and increase; therefore, the return on the investment in the Fund will be variable. Income may fluctuate in accordance with market conditions and taxation arrangements.
Please see the Prospectus for further information on the SFDR classification of the fund.
Risk Indicator
What Are the Risks and What Could I Get in Return?

The risk indicator assumes you keep the product for five years.
The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
We have classified this product as 5 out of 7, which is a medium-high risk class. This rates the potential losses from future performance at a medium-high level, and poor market conditions will likely impact our capacity to pay you.
Be aware of currency risk. You will receive payments in a different currency, so the final return you will get depends on the exchange rate between the two currencies. This risk is not considered in the indicator shown above. Other risks materially relevant to the product which are not taken into account in the summary risk indicator are: concentration risk, counterparty risk, liquidity risk, market risk, operational risk, redemption risk, sector risk, and securities risk.
Shareclass | Currency | Distribution Policy | CUSIP | Bloomberg | ISIN | Investment Management Fee | KIID Ongoing Charge* | Minimum Investment (USD) |
---|---|---|---|---|---|---|---|---|
Institutional | USD | Acc | G7154L881 | POSCGIU | IE000MI2TVK5 | 1.00% | 1.17% | $250,000 |
Institutional | USD D | Acc | - | - | IE000YUI9297 | 0.60% | 0.80% | $250,000 |
Institutional | GBP | Acc | G7154L782 | POSCGGI | IE0007FT7OA1 | 1.00% | 1.17% | £250,000 |
Institutional | GBP UH | Acc | G7154L774 | POSCGUH | IE0000D0J2C6 | 1.00% | 1.19% | £250,000 |
Institutional | GBP UH Dist. | Inc | G7154L832 | POSCIUH | IE000MS5FD69 | 1.00% | 1.19% | £250,000 |
Institutional | EUR | Acc | G7154L857 | POSCGEI | IE000SR6EWT0 | 1.00% | 1.20% | €250,000 |
Institutional | CHF | Acc | G7154L808 | POSCGCI | IE000A0G5EF3 | 1.00% | 1.20% | CHF 250,000 |
Investor | USD A | Acc | G7154L840 | POSCGAR | IE000SJR2ZG7 | 1.75% | 1.95% | $1,000 |
Investor | USD C | Acc | G7154L824 | POSCCRE | IE000YHFFWQ1 | 2.00% | 2.20% | $1,000 |
Investor | GBP | Acc | G7154L865 | POSCGGR | IE000VHI9W08 | 1.75% | 1.95% | £1,000 |
Investor | EUR | Acc | G7154L873 | POSCGER | IE000VV4ECX8 | 1.75% | 1.95% | €1,000 |
Investor | CHF | Acc | G7154L790 | POSCGCR | IE0009OS4PO4 | 1.75% | 1.95% | CHF 1,000 |
Investor | USD | Acc | G7154L816 | POSCGRU | IE000AEKNJU1 | 1.75% | 1.95% | $1,000 |
Minimum investment: U.S.$250,000 for institutional shares, U.S.$1,000 for investor shares (or foreign currency equivalent). KID Ongoing Charge is as of December 31, 2024 and may be higher or lower and where applicable, the KID Ongoing Charge is equal to the Max Ongoing Charge because such share class has not yet launched. 3USD A shares carry an entry charge of up to 5%. All other shares have no entry charge. The ongoing charge cap excludes all portfolio transaction charges. Performance for the various share classes will be more or less depending on differences in fees and ongoing charges. Fees, charges and costs may increase or decrease as a result of currency exchange rate fluctuations. The difference at any one time between the sale and repurchase price of share in the Fund means that the investment should be viewed as medium term to long term. Entry fees charged will lower returns. The ongoing charges figures shown here are based on expenses for the year ending 31 December 2023. This figure may vary from year to year and the Fund's annual report for each financial year will include details on the exact charges made. It excludes all portfolio transaction charges and performance fees. Please consult the prospectus for a comprehensive explanation of all fees.
Portfolio Management
Materials
Literature
Prospectus
PRIIPS Key Information Documents
UCITS Key Investor Information Documents
A summary of information about investors’ rights and collective redress mechanisms can be found in English on the Materials section on this website.
Holdings are subject to change. The top holdings, as well as other data, are as of the period indicated and should not be considered a recommendation to purchase, hold, or sell any particular security. There is no assurance that any of the securities noted will remain in a portfolio at the time you view this webpage. It should not be assumed that any of the holdings discussed were or will prove to be profitable or that the investment recommendations or decisions we make in the future will be profitable. For a complete list of all securities held in this Fund in the prior year, please [email protected].
Amounts shown are expressed in USD unless otherwise indicated. Past performance is no indication of current or future performance. The performance data does not take account of the commissions and costs incurred on the issue and redemption of units.
The MSCI ACWI SMID Cap is a market capitalization-weighted equity index that measures the performance of the mid and small-cap segments across developed and emerging market countries. The index is maintained by Morgan Stanley Capital International. It is impossible to invest directly in an index. The performance of an index does not reflect any transaction costs, management fees, or taxes.
Neither past experience nor the current situation are necessarily accurate guides to future growth in value or rate of return.
Alpha: is the excess return of an investment relative to the return of the benchmark.
Beta: the measure of systemic risk of a portfolio in comparison to the market as a whole.
Downside Capture: is a statistical measure of overall performance relative to a benchmark during declining markets.
Information Ratio: a measurement of portfolio returns relative to a given benchmark.
Sharpe Ratio: a ratio of the return on an investment relative to its risk.
Standard Deviation: measurement of the dispersion or volatility of investment returns relative to its mean or average.
Upside Capture: is a statistical measure of overall performance relative to a benchmark during rising markets.
Active Share: Active share is a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index.
Annual Turnover: percentage of the portfolio's holdings that have been replaced in a given year.
GICS Sectors: The Global Industry Classification Standard (GICS) is a system for categorizing every public company by economic sector and industry group.
P/E Forward: denotes the weighted harmonic average of all the P/E’s of the securities in the fund’s portfolio.
Polen Long Term EPS Growth Estimate: a Polen Capital estimate of projected long-term earnings growth rates (Earnings Growth is not a measure of future performance).
Net Debt/EBITDA: is a measurement of leverage, calculated as a company's interest-bearing liabilities minus cash or cash equivalents, divided by its EBITDA. Return on Equity: assesses a company's net income divided by its shareholders' equity
Risk-Adjusted Return: a calculation of the profit or potential profit from an investment that considers the degree of risk that must be accepted in order to achieve it.
SFDR: Sustainable Finance Disclosure Regulation.
Weighted Average Market Cap: a weighted average of the price of each security multiplied by the number of shares outstanding all the securities in the portfolio.
The management company of Polen Capital Global SMID Company Growth Fund is Amundi Ireland Limited, 1 George’s Quay Plaza, George’s Quay, Dublin 2, Ireland. Amundi Ireland Limited is authorised and regulated by the Central Bank of Ireland. Please note that the management company may decide to terminate the arrangements made for the marketing of its collective investment undertakings in a Member State of the EU in respect of which it has made a notification.
Risk factors you should consider before investing: The value of investments and any income will fluctuate and investors may not get back the full amount invested. Where the Fund’s Investment Manager has expressed views and opinions in this fact sheet, these may change. Changes in exchange rates may have an adverse effect on the value, price, or income of the product. Whilst the Company aims to ensure the accuracy of the data contained in the factsheet, it is provided for information purposes only. It should not be relied on as the basis for making an investment decision. Investors should consider the investment objectives, risks and expenses of any investment carefully before investing as described in the Company’s Prospectus.
The Fund invests in foreign markets which involve risks such as social and political instability, market illiquidity, currency fluctuations and limited regulation. Additionally, investing in emerging market countries may be less liquid and more volatile than securities markets in more developed markets or in companies that are less well-established and substantially smaller. These companies may often experience significant price volatility and potential lack of liquidity due to low trading volume of their securities. Substantial risks are involved in trading in OTC markets and there is no guarantee that the Fund will be able to realize the fair value of such securities due to their tendency to have limited liquidity and comparatively high price volatility. Investments in financial derivative instruments including futures, forward contracts and options may be highly volatile and have limited liquidity which could result in major losses to the Fund. Certain derivative instruments in which the Fund may invest are foreign exchange rate sensitive and could amplify risks.
Investors should consider the investment objectives, risks and expenses of any investment carefully before investing as described in the Company’s Prospectus.
Polen Capital Investment Funds Plc has not been registered under the United States Investment Company Act of 1940, as amended, nor the United States Securities Act of 1933, as amended (1933 Act). No shares may be offered or sold, directly or indirectly in the United States or to any U.S. person unless the securities are registered under the 1933 Act, or an exemption from the registration requirements of the 1933 Act is available. A “U.S. person” is defined as (a) any individual who is a citizen or resident of the United States for federal income tax purposes; (b) a corporation, partnership or other entity created or organized under the laws of or existing in the United States; (c) an estate or trust the income of which is subject to United States federal income tax regardless of whether such income is effectively connected with a United States trade or business. In the United States, this material may be distributed only to a person who is a “distributor,” or who is not a “U.S. person,” as defined by Regulation S under the U.S. Securities Act of 1933 (as amended).
The Fund is considered to be actively managed in reference to the MSCI ACWI SMID Cap Index (the “Benchmark”) by virtue of the fact that it uses the Benchmark for performance comparison purposes. Certain of the Fund’s securities may be components of and may have similar weightings to the Benchmark. However, the Benchmark is not used to define the portfolio composition of the Fund or as a performance target, and the Fund may be wholly invested in securities which are not constituents of the Benchmark.
For more product-specific information, please refer to the Sustainable Investing section of the Prospectus available at PolenCapital.com. The Sub-Fund promotes environmental and/or social characteristics and invests in companies which follow good corporate governance practices. Please see the Prospectus and the Pre-Contractual Annex available on the Global Distributor website for further information on the SFDR classification of the fund. The decision of the investor to invest in the promoted fund should consider all the characteristics or objectives of the fund.
None of the shares may be offered or sold in the U.S. or to any U.S. person (as such term is defined in Rule 902(k) under the Securities Act).
UK Investors: Investors should read the prospectus and key investor information document before investing, copies of which are available free of charge from the fund’s UK Facilities Agent, Polen Capital UK LLP, 1st Floor, 15-18 Austin Friars, London EC2N 2HE, United Kingdom, Tel: 442080570457, email: [email protected].
The Sub-Fund (or Fund) promotes environmental and/or social characteristics and invests in companies which follow good corporate governance practices. Please see the Prospectus and the Pre-Contractual Annex available on the Global Distributor website for further information on the SFDR classification of the fund. The decision of the investor to invest in the promoted fund should consider all the characteristics or objectives of the fund.
This webpage is a marketing communication. Please see the Prospectus for additional information on the investment policy, objectives, and strategy of the Fund.
Notice to HK Investors: In Hong Kong, this content is only being made available to persons falling within the “Professional Investors” category defined in the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (SFC). By entering this site, you confirm that you fall within the Professional Investors category and you are accessing the website on your own initiative without any solicitation to do so by Polen Capital HK Limited or one of the funds described herein (each, a “Fund”) and that no law or regulation prohibits you from accessing the information on this website. The Fund is not authorized by the SFC and is not publicly offered to all investors in Hong Kong.