Account Details

In our separately managed equity accounts, clients own a portfolio of securities. For these accounts we are able to customize each portfolio based on individual needs such as equity exposure levels, legacy positions, specific investment restrictions, income needs, etc. that may not be met by a mutual fund.


Emerging Growth Composite (as of 9/30/18)

Emerging Growth Composite (gross) 12.11% 35.88% 42.60% 21.83% 16.37% 22.40% 18.81% 15.92%
Emerging Growth Composite (net) 11.83 34.87 41.19 20.61 15.21 21.19 17.63 14.77
Russell 2000 Growth Index 5.52 15.76 21.06 17.98 12.14 17.52 12.65 9.93
Emerging Growth Composite (gross) Emerging Growth Composite (net) Russell 2000 Growth Index
QTD 12.11% 11.83% 5.52%
YTD 35.88 34.87 15.76
1 YEAR 42.60 41.19 21.06
3 YEAR 21.83 20.61 17.98
5 YEAR 16.37 15.21 12.14
7 YEAR 22.40 21.19 17.52
10 YEAR 18.81 17.63 12.65
15.92 14.77 9.93

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We believe that the proliferation of investment strategies employing short term trading has reduced the investment horizons of many investors, especially those in emerging companies. This has created an opportunity for longer term investors who have the patience and the historical experience to buy and hold as it often takes a number of years for these investments to realize their potential due to the emerging nature of their industries or niches.

We focus on identifying high quality companies in emerging industries and defensible growth niches that have open ended growth potential. We seek to buy the stocks of such companies before they are discovered or when investors are very skeptical about future prospects, and capture compound earnings growth over time.

We use a quantitative screen to help narrow the universe of potential investments. From this screen we apply equity research to these portfolio candidates. Our sources of research data come from visits with company management, discussions with competitors and customers, attendance at broker-sponsored conferences and trade shows, and examination of regulatory filings. We construct long-term revenue and earnings per share forecasts which we use to monitor intermediate progress of our holdings. Ideas are evaluated on a number of factors including, but not limited to, the rate of companies’ revenue growth, existence of a distinct proprietary advantage and/or a leading position in the industry, rising expected operating margins and the presence of a skilled management team. We focus on understanding the long-term goals of the company over a three to five year investment horizon. We often avoid companies that do not have measurable three to five year goals or will not share them with investors. We may sell a position if we believe it is overvalued, fundamentals erode or another more attractive investment is identified.

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The institutional fee schedule is as follows: 1.00% on the first $25 million, negotiable above $25 million. Other fee schedules are available for accounts under $25 million

Clients invested in separately managed core equity accounts are subject to various risks including potential loss of principal, general market risk, small and medium-sized company risk, foreign securities and emerging markets risk and default risk. For a complete discussion of the risks involved, please see our Form ADV Brochure and refer to Item 8.

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