Polen Capital U.S. Small Company Growth Fund

Active Share
96.2%
Downside Capture
101.70%
YTD Return
-42.15%
As of 30/06/2022
Inception Date
31/12/2018

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 superior growth.

Why Invest in Polen Small Company Growth?

  • U.S. growth strategy with a strong emphasis on sustainable earnings growth
  • Focus on companies with high returns on capital and double-digit earnings growth
  • Concentrated portfolio of approximately 30 high-quality growth companies
  • Low portfolio turnover with long-term holding periods

A High Conviction & Quality Approach

We believe that consistent earnings growth is the primary driver of intrinsic value and long-term stock appreciation. We seek to invest in companies with a durable earnings profile driven by a sustainable competitive advantage, superior financial strength, sound ESG practices, proven management teams and powerful products/services. By thinking and investing like a business owner and taking a long-term investment approach, we believe we can preserve capital and provide stability across market cycles.

Product Profile

Number of holdings 25-35
Style Growth
Benchmark Russell 2000 Growth

Expertise in High Quality & Growth Investing

Rayna Lesser Hannaway, CFA
Head of Team, Portfolio Manager & Analyst, Small Company Growth
26 years of experience

Related Perspectives

Performance (%)

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 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.

The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher.  Data shown (%) as of recent calendar quarter end. Periods over one-year are annualized. 

Portfolio Statistics*

*Since inception

Attractive 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 337 funds in the U.S. Small-Cap Equity category, Class I; based on risk adjusted returns; as of 30-06-2022.

Morningstar Sustainability Rating™ out of 1,613 U.S. Small Growth funds as of 31-05-2022. Based on 98% of AUM. Data is based on long positions only.

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% threeyear 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 is intended to measure how well the issuing companies of the securities within a fund’s portfolio are managing their environmental, social, and governance (“ESG”) risks and opportunities relative to the fund’s Morningstar category peers.

© 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.

Fund Details

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, 2020 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 2020. 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)

Portfolio Characteristics

Annual turnover since inception

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 receive this fact sheet. 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. A list of all securities held in this portfolio in the prior year is available upon request.

Active Share: Active share is a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index. 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. Estimated 3-5 Year EPS Growth: an estimate of projected long-term earnings growth rates of the underlying assets of the Fund. Net Debt/ Total Capital: measure of a company’s financial leverage calculated by dividing its net liabilities by its total capital. 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 an investee company’s efficiency at allocating the capital and is measured by operating profit after taxes divided by investment capital. Annual Turnover: percentage of the portfolio’s holdings that have been replaced in a given year. 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. Sharpe Ratio: a ratio of the return on an investment relative to its risk. Information Ratio: a measurement of portfolio returns relative to a given benchmark. Upside Capture: is a statistical measure of overall performance relative to a benchmark during rising markets. Downside Capture: is a statistical measure of overall performance relative to a benchmark during declining markets. Standard Deviation: measurement of the dispersion or volatility of investment returns relative to its mean or average.

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.

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.

Please Read and Agree to the Following Conditions of Use

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:

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.

This Website Uses Cookies

A cookie is a piece of data stored on your device containing information about your visit to a site. We use a cookie to, including but not limited to, remember the region you are visiting from and to remember that you have accepted these terms of use. You consent to such uses. You can change your user settings in your browser to prevent us storing cookies. You can find out how to do this at: www.allaboutcookies.org. However, if you do prevent us storing cookies, some parts of this website will be inaccessible to you or functionality will be reduced.

Data Retention

If you contact us or provide any personal data through this website, you consent to us keeping a record of this information. We may use it to provide products or services that you request from us or which we feel may interest you. We may also use third party service providers to track details of visits to our site (including but not limited to traffic and location data) to improve our service to you. The data that we collect from you may be transferred to, and stored at, a location outside the European Economic Area and may be processed by third parties on our behalf.