The Nomura Large Cap Growth Equity (SMA) strategy is an actively managed, focused portfolio of large-cap growth companies. The strategy seeks to exploit a persistent behavioral inefficiency through disciplined focus on competitively advantaged franchises.
Consistent philosophy
Long-term focus on owning enduring business models over multi-year periods
Repeatable process
Seeks durable, competitively advantaged companies capable of participating in rising markets and weathering disruption
Disciplined construction
Active stock selection drives risk and return through a focused portfolio of 35-50 high-conviction companies
Prioritizing quality in the form of competitive advantages and wide moats may provide durable compounding over full market cycles – an essential in growth investing.
Exploiting investors' tendency to overpay for growth while overlooking quality – a persistent bias rooted in human psychology, not market conditions.
Maintaining discipline around quality standards allows for systematic capitalization on these behavioral tendencies.
Reversing conventional order, high-quality, durable businesses are identified first, then secular growth and return potential are evaluated.
Two-sided quality analysis combines proprietary quantitative framework with deep qualitative research – each approach checking and validating the other to reduce behavioral errors and overconfidence.
Multi-year return hurdles promote long-term thinking, filter out short-term noise, and ensure that holdings reflect genuine conviction in compounding potential.
Russell 1000® Growth Index
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Risk Disclosures
Investing involves risk, including the possible loss of principal.
A fund or strategy that holds a limited number of securities may be more sensitive to the price fluctuations of a single security in its portfolio and may be more volatile than a fund or strategy that holds a greater number of securities.
Investing in the real estate industry includes risks such as declines in real estate value, lack of availability of mortgage funds, overbuilding, extended vacancies, increases in property taxes, changes in zoning laws, costs from clean-up of environmental problems, uninsured damages, variations in rents, and changes in interest rates. The value of an investment in a real estate investment trust (REIT) may be adversely affected by various factors, including interest rate changes, changes in property values, changes in dividend payments, loss of the REIT's ability to qualify for pass-through tax treatment under federal tax laws, or the REIT's failure to maintain its exemption from registration as an investment company.
High portfolio turnover rates may increase transaction costs and lower returns.
Diversification may not protect against market risk.
Market risk is the risk that all or a majority of the securities in a certain market — like the stock market or bond market — will decline in value because of factors such as adverse political or economic conditions, future expectations, investor confidence, or heavy institutional selling.
Growth stocks reflect projections of future earnings and revenue. These prices may rise or fall dramatically depending on whether those projections are met. These companies’ stock prices may be more volatile, particularly over the short term.
Large-capitalization companies tend to be less volatile than companies with smaller market capitalizations. This potentially lower risk means that the Fund's share price may not rise as much as the share prices of funds that focus on smaller capitalization companies.
Active management and selection risk is the risk that the securities selected by a fund’s management will underperform the markets, the relevant indices, or the securities selected by other funds with similar investment objectives and investment strategies. The securities and sectors selected may vary from the securities and sectors included in the relevant index.
Liquidity risk is the possibility that securities cannot be readily sold within seven calendar days at approximately the price at which a portfolio has valued them. To the extent that a portfolio holds fixed income securities in smaller “odd lot” sizes, such positions may be less liquid and harder to sell. Odd lots may trade at lower prices than institutional round lot sizes, which may affect a portfolio’s ability to accurately value its investments.
Equity securities are subject to price fluctuation and possible loss of principal.