• A “mostly U.S.” portfolio of “Growth At a Reasonable Price” equities
  • 30+/-% outside U.S. depending on macro thesis and location of opportunities
  • Portfolio may also include “cheap assets” which trade at a discount to their underlying values
  • Global macro thesis combined with a fundamental search for strong, attractively priced companies that fit macro view
  • Portfolio of 35 to 40 positions in a typical client portfolio
  • Total-return focus (both growth and yield) with a risk-reduction emphasis, non-benchmark orientation

     Portfolio Manager: David Descalzi and Adrian Morffi

     Annual Fee of 1.1%

     Link to quarterly commentaries