AGF U.S. Small-Mid Cap Equity Strategy

Approach
Fundamental, bottom up.
Cap
Small-Mid Cap
Benchmark
S&P MidCap 400 Index
Inception Date
June 1993
Resources

Key Reasons to Invest

1

Distinct Investment Philosophy: Concentrated, high-conviction approach to investing in leading companies throughout changing market cycles.

2

Focus on Innovation and Market Leaders: Ability to invest in all sectors that exhibit market leadership and innovation resulting in a portfolio of “best ideas” that is differentiated from the broad market.

3

Experienced and Stable Team: Long track record of managing the strategy through a variety of market environments.

Overview

Strategy

Bottom-up growth investment style that looks at a company's revenue and profitability as well as earnings quality and growth potential.

Philosophy

The team's objective is to capture leading growth companies in every investment cycle. Every stock the team holds is a buy each day, or it is sold. The team uses an opportunistic bottom-up approach with front-end quantitative screens to identify high-quality, small-mid cap U.S. growth companies that can successfully generate sustainable above-average growth for revenues, earnings and cash flow.

Investment Process

Our investment process employs a fundamental, bottom-up and macro-consideration approach. Our universe contains 1,900+ U.S. companies with market capitalizations greater than US$500 million. First, quantitative screens narrow the investible universe to 350+ stocks. Next, qualitative screens continue to narrow the investible universe to 200+ stocks. A catalyst identification further reduces the universe to 100+ companies, singling out potential purchase candidates.

In order to determine the optimal growth candidates, in-depth analysis and due diligence is performed for each company. This step confirms that these companies exhibit the potential for sustained growth as well as continued innovation in their products and services.

The resulting portfolio consists of 25-40 companies that exhibit strong growth characteristics. The typical range for position weights is 1-8%. There will be representation in at least 8 of the 11 GICS sectors comprising the U.S. equity market, as represented by the S&P MidCap 400 Index.

Our team's utilization of a bottom-up investment process results in a high conviction portfolio of 25 -40 stocks that exhibit above-average growth characteristics.

Investment Process

U.S. Universe
  • Market cap greater than US$ 500 million
  • 1,900+ stocks
Portfolio
  • High conviction
  • Leaders
  • Innovation
  • Macroeconomic
  • Thematic trends
  • 20 - 40 stocks

Investment Team

Tony Genua
Tony Genua
SVP & Portfolio Manager
AGF Investments Inc.
Mike Archibald
Mike Archibald, CFA®, CMT, CAIA
Portfolio Manager
AGF Investments Inc.
Auritro Kundu
Auritro Kundu, MBA
Portfolio Manager
AGF Investments Inc.
Sam Mitter
Sam Mitter, MBA
Portfolio Manager
AGF Investments Inc.
Analysts
Analysts
Investment Team
Tony Genua
SVP & Portfolio Manager

Tony Genua has been a Portfolio Manager of AGF Investments’ U.S. growth strategies since he joined the firm in 2005. Throughout his career in portfolio management, Tony has remained committed to his proven investment strategy that identifies leading growth companies in every cycle. Tony is also a member of the AGF Investments Asset Allocation Committee (AAC), which is comprised of senior portfolio managers who are responsible for various regions and asset classes. The AAC meets regularly to discuss, analyze and assess the macro-economic environment and capital markets in order to determine optimal asset allocation recommendations.

Tony's portfolio management experience includes retail mutual fund investments, sub-advisory platforms and institutional portfolios. Tony's direct experience as a portfolio manager is complemented by the three years he spent as a market strategist on Wall Street.

Tony earned his BA in Economics from the University of Western Ontario.

Portfolio Manager under AGF Investments Inc. and AGF Investments America Inc.

Mike Archibald, CFA®, CMT, CAIA
Portfolio Manager

Mike Archibald is responsible for AGF Investments' Canadian Growth Equity strategies. He uses a bottom-up investment approach that leverages quantitative, fundamental and technical inputs to identify companies with strong earnings growth and momentum, high-quality management and solid free cash flow.

Mike joined AGF Investments as an Associate Portfolio Manager in 2015, focusing on research, analysis and selection of North American equities. Before joining AGF Investments, Mike was a Portfolio Manager with Aurion Capital Management Inc. where he was responsible for research, security selection and portfolio management of equity investments for pension plan clients. Prior to that, he was with Computerized Portfolio Management Services (CPMS), an equity research firm providing fundamental and quantitative investment data to institutional and retail money managers.

Mike holds an Honours Bachelor of Business Administration degree from Wilfrid Laurier University and is also a CFA®, CMT and CAIA charterholder.

Auritro Kundu, MBA
Portfolio Manager

Auritro Kundu serves as a Portfolio Manager of the AGF American Growth Strategy, including its related Funds, SMAs and Separate Accounts. A staunch believer that innovation can be found in every industry, his investment philosophy is rooted in identifying innovative companies who boast strong earnings growth, free cash flow and return on equity.

Auritro joined AGF Investments in 2015 and previously served as an Analyst responsible for fundamental research and analysis of the Information Technology and Consumer Discretionary sectors. Prior to joining AGF Investments, he was an Equity Research Associate Analyst at National Bank Financial, where he was responsible for coverage of Canadian Information Technology equipment companies. Prior to that, he worked at Rogers Communications in corporate development and at Research in Motion in product management.

Auritro has a Bachelor of Applied Science degree in Electrical Engineering from the University of Toronto and earned an MBA from the Rotman School of Management at the University of Toronto.

Portfolio Manager under AGF Investments Inc. and AGF Investments America Inc.

Sam Mitter, MBA
Portfolio Manager

Sam Mitter is a Portfolio Manager for AGF U.S. Small-Mid Cap Fund and the associated Separately Managed Account (SMA) as well as the Institutional AGF U.S. Small-Mid Cap Growth Equity strategy. In this role, he is responsible for assessing appropriate portfolio positioning and screening the universe of eligible stocks to identify purchase candidates. He also works closely with the research team to identify investment opportunities and monitors the fundamentals of existing holdings. Sam also supports the AGF Global Select and AGF American Growth Fund mandates, and has gained experience as a member of the AGF Equity Research Team covering the Information Technology sector.

He has been actively involved in the investment industry for 20 years. Prior to joining AGF Investments, Sam was Vice-President, Equities & Associate Portfolio Manager at Meadowbank Asset Management, where he was involved with venture capital and early-stage technology companies. He also gained experience with roles at Sentry Investments, Scotia Asset Management and Altamira Management Ltd.

Sam holds a B.Sc. from Culver-Stockton College and an MBA from Santa Clara University.

Portfolio Manager under AGF Investments Inc. and AGF Investments America Inc.

Abhishek Ashok
M.A., MFE, CFA®
Analyst
AGF Investments Inc.
Consumer Staples
Richard Fisher
M.A. (Econ.)
Co-Head Equity Research & Equity Analyst
AGF Investments Inc.
Banks, Transportation
Ling Han
M.Sc., MBA, CFA®
Analyst
AGF Investments Inc.
Chemicals, Health Care
Grace Huang
MBA, CFA®
Senior Analyst
AGF Investments Inc.
Information Technology, Communication Services
John Kratochwil
MBA, P.Eng.
Equity Analyst
AGF Investments Inc.
Materials (ex-Chemicals), Real Estate
Henry Kwok
MBA
Senior Analyst
AGF Investments Inc.
Consumer Discretionary
Lazar Naiker
Senior Analyst
AGF Investments Inc.
Industrials
Pulkit Sabharwal
MBA
Analyst
AGF Investments Inc.
Energy
Wai Tong
MBA, P.Eng., CFA®
Equity Analyst
AGF Investments Inc.
Industrials
Wyeth Wright
CFA®
Senior Analyst
AGF Investments Inc.
Software
Lillian Zhang
MBA, CFA®
Analyst
AGF Investments Inc.
Telecommunication Services, Utilities

Jonathan Lo
MBA
VP, Growth Equities & Senior Equity Analyst
AGF Investments Inc.

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