Polen Capital U.S. Small Company Growth Fund
Investment Objective
Our U.S. Small Company Growth strategy seeks to achieve long-term growth by building a concentrated portfolio of outstanding businesses with competitive advantages and the potential for sustained growth.
Why Invest in Polen Small Company Growth?+
- U.S. growth fund with a strong emphasis on sustainable earnings growth
- Focus on companies with high returns on capital and double-digit total returns
- Concentrated portfolio of approximately 30 high-quality growth companies
- Low portfolio turnover with long-term holding periods
Company Characteristics
In seeking to achieve its investment objective the Fund may: Invest primarily in a focused portfolio of high quality common stocks of small companies listed on recognized exchanges in the United States of America. Invest in American Depositary Receipts. Hold ancillary liquid assets, including cash and cash equivalents (such as certificates of deposit) and Money Market Instruments (such as commercial paper, bankers acceptance and other short-term debt securities. The Fund may use a limited number of simple derivative instruments for hedging purposes (such as currency swaps and currency forwards.)
Product Profile
| Number of Holdings | 25-40 |
|---|---|
| Style | Growth |
| Benchmark | Russell 2000 Growth |
Expertise in High Quality & Growth Investing
Head of Team, Portfolio Manager & Analyst, Small Company Growth
27 years of experience
Portfolio Manager, Director of Research & Analyst, Small Company Growth
16 years of experience
Fund Details
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 as well as increase and, therefore, the return on the investment in the Fund will be variable. Income may fluctuate in accordance with market conditions and taxation arrangements.
A decision may be taken at any time to terminate the arrangements made for the marketing of the Company in any EEA Member State in which it is currently marketed. In such circumstances, Shareholders in the affected EEA Member State will be notified of this decision and will be provided with the opportunity to redeem their shareholding in the Company free of any charges or deductions for at least 30 working days from the date of such notification.
Please see the Prospectus for further information on the SFDR classification of the fund.
Risk & Reward Profile
The SRRI represents the risk and reward profile as presented in the Key Investor Information Document (KIID). The lowest category does not imply that there is no risk. The SRRI is not guaranteed and may change over time.
Operational risk: management, business or administration processes, including those to do with the safekeeping of assets, may fail, leading to losses.
Counterparty risk: a counterparty may fail to deliver the proceeds related to the sale of securities by the Fund or in safekeeping of the securities purchased by the Fund.
Securities risk: some of the markets or exchanges on which the Fund may invest may go up and down, and the value of your investment may not increase.
Further information on the risks in respect of the Fund can be found in the Prospectus.
Performance (%)
Past performance does not predict future returns.
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 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, 2021 of 1,25%. 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.
Portfolio Statistics*
*Since inception
Risk-Adjusted Returns (%)*
*Since inception
Long-Term Performance Strength
The chart pictured above depicts how an investment of $10,000 would have grown from inception through the recent calendar quarter end, based on the actual performance of the strategy over the same period. The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher.
Morningstar
Overall Morningstar Rating™ among 335 funds in the U.S. Small-Cap Equity category, Class I; based on risk adjusted returns; as of 31-Dec-2022.
Morningstar Sustainability Rating™ out of 1,658 U.S. Small-Cap Equity funds as of 31-Oct-2022. Based on 97% of AUM. Data is based on long positions only.
The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. Polen Capital compensates Morningstar with a subscription fee that enables Polen Capital to access Morningstar databases; however, Polen Capital does not specifically pay Morningstar to obtain the ratings set forth above. US Equity Small Cap Category: category portfolios invest primarily in small-sized U.S. companies. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small-cap.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10- year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10- year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. The Morningstar Rating is for the share class specified only; ratings for the other share classes will vary. Past performance does not guarantee future results.
The Morningstar Sustainability Rating calculation is a three-step process. First, each fund with at least 67% of assets covered by a company-level ESG score from Sustainalytics receives a Morningstar Portfolio Sustainability Score. The Morningstar Portfolio Sustainability Score is an asset-weighted average of normalized company-level ESG scores with deductions made for controversial incidents by the issuing companies, such as environmental accidents, fraud, or discriminatory behavior. The Portfolio Sustainability Score ranges between O to 100, with a higher score indicating that a fund has, on average, more of its assets invested in companies that score well after normalization and controversy-level deductions are applied. Second, the Historical Sustainability Score is an exponential weighted moving average of the Portfolio Sustainability Scores over the past 12 months. The process rescales the current Portfolio Sustainability Score to reflect the consistency of the scores. The Historical Sustainability Score ranges between O to 100, with a higher score indicating that a fund has, on average, more of its assets invested in companies that score well after normalization and controversy-level deductions are applied, on a consistent historical basis. Third, the Morningstar Sustainability Rating is then assigned to all scored funds within Morningstar Global Categories in which at least thirty (30) funds receive a Historical Sustainability Score and is determined by each fund’s Morningstar Sustainability Rating Score rank within the following distribution: High (highest 10%); Above Average (next 22.5%); Average (next 35%); Below Average (next 22.5%); and Low (lowest 10%). The Morningstar Sustainability Rating is depicted by global icons where High equals 5 globes and Low equals 1 globe. The Morningstar Sustainability Rating is depicted by globe icons where High equals 5 globes and Low equals 1 globe. Since a Sustainability Rating is assigned to all funds that meet the above criteria, the rating it is not limited to funds with explicit sustainable or responsible investment mandates. Morningstar updates its Sustainability Ratings monthly. Portfolios receive a Morningstar Portfolio Sustainability Score and Sustainability Rating one month and six business days after their reported as-of date based on the most recent portfolio. As part of the evaluation process, Morningstar uses Sustainalytics’ ESG scores from the same month as the portfolio as-of date. Sustainalytics is an independent ESG and corporate governance research, ratings, and analysis firm and is not an affiliated company of Morningstar, Inc. Past performance does not guarantee future results.
©2022 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Share Class Details
Minimum investment: U.S.$250,000,000 for Class D shares, U.S.$250,000 for all other institutional shares, U.S.$100,000 for Class E shares, U.S.$1,000 for all other investor shares (or foreign currency equivalent). *KIID Ongoing Charge is as of December 31, 2021 and may be higher or lower and where applicable, the KIID Ongoing Charge is equal to the Max Ongoing Charge because such share class has not yet launched. **USD 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 shares 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 2021. 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.
Top 10 Holdings (% of Portfolio)
Active Share
GICS Sector Exposure (% of Portfolio)
For the avoidance of doubt the portfolio characteristics are based on the underlying assets of the Fund. This information along with all other information in the fact sheet is not intended to be construed or understood in any way to equate to the expected or projected future performance/returns of the Fund. The Investment Manager may at any time determine to divest from some or all of the holdings in the Fund and invest in other assets. The information contained in this fact sheet is not a guarantee or indication of the future performance/returns of the Fund. As a result, there is a risk of an investor losing all or part of their investment in the Fund.
Portfolio Characteristics
For the avoidance of doubt, the portfolio characteristics are based on the underlying assets of the Fund. This information along with all other information in the fact sheet is not intended to be construed or understood in any way to equate to the expected or projected future performance/returns of the Fund. The Investment Manager may at any time determine to divest from some or all of the holdings in the Fund and invest in other assets. The information contained in this fact sheet is not a guarantee or indication of the future performance/returns of the Fund. As a result, there is a risk of an investor losing all or part of their investment in the Fund.
Literature
Polen Capital U.S. Small Company Growth Fund- Monthly Fact Sheet →
Polen Capital U.S. Small Company Growth Fund – Monthly Fact Sheet (Spanish) →
Polen Capital U.S. Small Company Growth Fund – Monthly Fact Sheet (French) →
Polen Capital U.S. Small Company Growth Fund – Past Performance →
Prospectus & Related Documents
Prospectus →
Supplement to Prospectus →
Supplement to Prospectus – Annex II (ESG Disclosure) →
Supplement to Prospectus – List of Sub-Funds →
Country Supplement for Austria →
Country Supplement for Denmark →
Country Supplement for Germany →
Country Supplement for Switzerland →
Consolidated Prospectus for Germany →
Annual Report →
Semi-Annual Report →
Subscription Application Form →
Data Privacy Statement →
Memorandum and Articles of Association →
Remuneration Policy →
Summary of Investor Rights →
Shareholder Engagement Policy →
Shareholder Engagement Annual Review →
SFDR Article 8 Sustainability Disclosures | ES | IT | NO →
UK Reporting Fund Status Report to Investors →
UCITS Key Investor Information Documents – Institutional
USD Class (Institutional) (ISIN IE00BYWHB920) →
EUR Class (Institutional) (ISIN IE00BYWHBC56) →
GBP Class (Institutional) (ISIN IE00BYWHBK31) →
GBP Class (Institutional Unhedged) (ISIN IE00BYWHBR00) →
GBP Class (Institutional Unhedged Distributing) (ISIN IE00BYWHBS17) →
CHF Class (Institutional) (ISIN IE00BYWHBN61) →
UCITS Key Investor Information Documents – Investor
USD Class (Investor) (ISIN IE00BYWHBB40) →
EUR Class (Investor) (ISIN IE00BYWHCN37) →
GBP Class (Investor) (ISIN IE00BYWHBL48) →
CHF Class (Investor) (ISIN IE00BYWHBM54) →
A Class (Investor) (ISIN IE00BYWHBP85) →
C Class (Investor) (ISIN IE00BYWHBQ92) →
PRIIPs Key Information Documents – Institutional
USD Class (Institutional) (ISIN IE00BYWHB920) | DE | ES | IT | NO →
EUR Class (Institutional) (ISIN IE00BYWHBC56) | DE | ES | IT | NO →
GBP Class (Institutional) (ISIN IE00BYWHBK31) | DE | ES | IT | NO →
GBP Class (Institutional Unhedged) (ISIN IE00BYWHBR00) | DE | ES | IT | NO →
GBP Class (Institutional Unhedged Distributing) (ISIN IE00BYWHBS17) | DE | ES | IT | NO →
CHF Class (Institutional) (ISIN IE00BYWHBN61) | DE | ES | IT | NO →
PRIIPs Key Information Documents – Investor
USD Class (Investor) (ISIN IE00BYWHBB40) | DE | ES | IT | NO →
EUR Class (Investor) (ISIN IE00BYWHCN37) | DE | ES | IT | NO →
GBP Class (Investor) (ISIN IE00BYWHBL48) | DE | ES | IT | NO →
CHF Class (Investor) (ISIN IE00BYWHBM54) | DE | ES | IT | NO →
A Class (Investor) (ISIN IE00BYWHBP85) | DE | ES | IT | NO →
C Class (Investor) (ISIN IE00BYWHBQ92) | DE | ES | IT | NO →
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, contact [email protected].
All performance is calculated in U.S. Dollars. +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 Russell 2000® Growth Index is a market capitalization weighted index that measures the performance of the small-cap growth segment of the U.S. equity universe. It includes Russell 2000® Index companies with higher price/book ratios and higher forecasted growth values. The index is maintained by the FTSE Russell, a subsidiary of the London Stock Exchange Group. The volatility and other material characteristics of the indices referenced may be materially different from the performance achieved by an individual investor. In addition, an investor’s holdings may be materially different from those within the index. Indices are unmanaged and one cannot invest directly in an index.
Neither past experience nor the current situation are necessarily accurate guides to future growth in value or rate of return.
Active Share: a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index. Alpha: the excess return of an investment relative to the return of the benchmark. Annual Turnover: percentage of the portfolio holdings that have been replaced in a given year. Beta: the measure of systemic risk of a portfolio in comparison to the market as a whole. Downside Capture: a statistical measure of overall performance relative to a benchmark during declining markets. Est. 3-5 year Earnings Growth: a Polen Capital estimate of projected long-term earnings growth rates. GICS Sectors: The Global Industry Classification Standard (GICS) is a system for categorizing every public company by economic sector and industry group. Information Ratio: a measurement of portfolio returns relative to a given benchmark. P/E Forward: denotes the weighted harmonic average of all the P/E’s of the securities in the fund’s portfolio. Return on Invested Capital: assesses a company’s efficiency at allocating capital and is measured by operating profit after taxes divided by investment capital. 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. 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. Total Debt to Total Capital: measures the total amount of outstanding company debt as a percentage of the firm’s total capitalization. Upside Capture: a statistical measure of overall performance relative to a benchmark during rising markets. Weighted Average Market Cap: a weighted average of the price of each security multiplied by the number of shares outstanding for all the securities in the portfolio.
The management company of Polen Capital U.S. Small 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 de-notify arrangements made for marketing as regards shares of the fund 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. The Fund’s investments are concentrated in the U.S. This means the Fund may become more susceptible to fluctuations in value resulting from adverse economic or business conditions in the U.S., including legal, regulatory, and taxation changes. All performance data on this fact sheet are in USD currency. 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 has not been registered under the U.S. Investment Company Act of 1940, as amended, nor the Securities Act of 1933, as amended (the “Securities Act”).
The Fund is considered to be actively managed in reference to the Russell 2000 Growth (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.
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).
Amounts shown are expressed in USD unless otherwise indicated.
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].
Swiss Investors: This is an advertising document. The state of the origin of the fund is Ireland. In Switzerland, the representative is ACOLIN Fund Services AG, Leutschenbachstrasse 50, CH-8050 Zurich, whilst the paying agent is NPB Neue Privat Bank AG, Limmatquai1 / am Bellevue, CH-8024 Zurich. The prospectus, the key information documents or the key investor information documents, the articles of association as well as the annual and semi-annual reports may be obtained free of charge from the representative.
This webpage is a marketing communication. Please see the Prospectus for additional information on the investment policy, objectives, and strategy of the Fund.
Please Read and Agree to the Following Conditions of Use
- This site is not intended for distribution or use by citizens or residents of the United States.
- In order to access this site, you must ensure that you satisfy and comply with the local applicable laws and regulations of your particular country.
- We encourage you to contact [email protected] or +1-561-241-2425 for more information or assistance.
By entering this site, you confirm that you are an investor accessing the website on your own initiative without any solicitation to do so by Polen Capital 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 publicly offered to all investors in all jurisdictions. Certain share classes of the Funds described in the following pages are registered for sale only in the countries listed below:
- Polen Capital Focus U.S. Growth Fund: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Singapore, Spain, Sweden, Switzerland and the United Kingdom
- Polen Capital International Growth Fund: Ireland and the United Kingdom
- Polen Capital U.S. Small Company Growth Fund: Austria, Germany, Italy, Ireland, Norway, Spain, Switzerland and the United Kingdom
- Polen Capital Global Emerging Markets Growth Fund: Ireland and the United Kingdom
- Polen Capital Global SMID Company Growth Fund: Ireland and the United Kingdom
Further information is available in the prospectus, relevant country supplement and/or other Fund documents.
The information made accessible within this site is made available for informational purposes only and is published in good faith, but Polen Capital makes no representation or warranty, either expressed or implied, to the accuracy or completeness of the information, and it should not be relied on as such. Investors should read the information in the relevant KIID before deciding that an investment in a Fund is suitable to meet their needs. Investors should also read the information in the full Prospectus before investing.
The value of investments in the Fund and the income from them may fall as well as rise and investors may not get back the full value of capital invested. Returns will depend on market conditions, including variation in currency exchange rates and your personal tax circumstances. Past performance is not a reliable guide to future returns.
The Funds are within an umbrella type investment company with variable capital and segregated liability between funds incorporated under the laws of Ireland under registration number 522617. The Fund is authorised by the Central Bank of Ireland pursuant to the European Union (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 and has its registered office at 1 George’s Quay Plaza, George’s Quay, Dublin 2, Ireland.
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