Polen U.S. SMID Cap Growth

Notice to Hong Kong 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 and that no law or regulation prohibits you from accessing the information on this website. 

All data sourced from Polen Capital unless otherwise noted. 

All performance is calculated in U.S. Dollars. Past performance is not indicative of future results. Returns are presented gross and net of management fees and include the reinvestment of all income.

The Russell 2500® Growth Index is a market capitalization weighted index that measures the performance of the small to mid-cap growth segment of the U.S. equity universe. It includes Russell 2500TM companies with higher price-to-book ratios and higher forecasted growth values. The index is maintained by the FTSE Russell, a subsidiary of the London Stock Exchange Group. It is impossible to invest directly in an index. The performance of an index does not reflect any transaction costs, management fees, or taxes.

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 factsheet. Actual holding and percentage allocation in individual client portfolios may vary and are subject to change. 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.

Alpha: A measure of the difference between a portfolio’s actual returns and its expected performance, given its level of risk as measured by beta. Beta: A measure of systematic risk with respect to a benchmark. Systematic risk is the tendency of the value of the portfolio and the value of benchmark to move together. Sharpe Ratio: A risk-adjusted measure calculated by using standard deviation and excess return to determine reward per unit of risk. Upside Capture: Upside Capture Ratio is a measure of the manager’s performance in periods when the market (benchmark) goes up. Upside Capture Ratio measures a manager's performance in up markets relative to the market (benchmark) itself. The ratio is calculated by comparing the manager's returns in up-markets with that of a benchmark index. Downside Capture: Downside Capture Ratio measures manager's performance in down markets. The ratio is calculated by dividing the manager's returns by the returns of the index during the down-market and multiplying that factor by 100.  It is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. Information Ratio: Information Ratio measures a portfolio’s returns above a benchmark while accounting for the volatility of those excess returns. Calculated as Excess Return divided by Tracking Error. Weighted Average Market Cap: A weighted average of the share price of each holding in the portfolio or benchmark multiplied by the number of shares outstanding for those respective holdings. The P/E (Price-to-Earnings) Forward Ratio: A metric used to evaluate the valuation of a company relative to its expected earnings over the next 12 months. It helps assess whether a stock is over- or under-valued based on future potential earnings. To calculate the multiple, the company's share price is divided by the estimated earnings over the next 12 months. These ratios may be provided at the company and portfolio level, with the latter being a weighted average of company level estimates. Historical 3-Year EPS Growth: A metric that measures the annualized rate at which a company's earnings per share (EPS) grew over the past three years. It is quoted as a compound annual growth rate, which is a smoothed growth rate that averages out year-to-year fluctuations. Estimated 3-5 Year EPS Growth: An estimate of the projected annualized long-term earnings growth rate of a company over the next three to five years (dependent on the company) based on the average of sell-side analyst estimates in Bloomberg.