Consistent, empirical, forward-looking process

  • 1.  Identify
    2.  Analyze
    3.  Construct
    4.  Adjust
  • 1.  Identify
    • 85% of ideas start with quantifiable operational accelerations
    • Supplementary growth and revision screening
    • 50%/50% idea generation from PMs and global sector analysts
    • Primarily proprietary Axiom research
    • External sources used to calibrate expectations
  • 2.  Analyze
    • Holistic assessment of all key stock drivers
    • Calibrate operating fundamentals against market expectations
    • Emphasis on positive change, high sustainable growth and
      profitability, reasonable valuation
    • Consistent Axiom rating used across all strategies
  • 3.  Construct
    • Ratings reflect risk and return and drive stock inclusion and sizing
    • Emphasize diversified sources of alpha
    • Transparent and systematic process using multiple data inputs
      and team perspectives
    • Objective: High active share, reasonable tracking error, upside
      participation with downside protection
  • 4.  Adjust
    • Hundreds of key driver data points captured daily in
      Axware database
    • Entire team reviews performance and global developments daily
    • Lead PM has final decision-making authority
    • Ratings and weights adjusted as risk/return evolves
    • Expected 12- to 24-month holding period
  • Communication and Collaboration

    One location, one team
    Daily investment team meeting
    • Rank and score data
    • Several hundred data points scored daily in Axware
    Weekly meeting
    • New ideas
    • Portfolio reviews
    • Sector reviews
    Quarterly
    • Earnings previews and reviews
    • Strategy reviews
    Semi-annual/annual
    • Evaluate client outcomes and detailed attribution