Grandes capitalisations américaines de croissance AGF

Démarche de placement
FR: Fundamental, bottom up, macro consideration
Capitalisation
FR: Large Cap
Indice repère
FR: S&P 500 Index
Lancement de la stratégie
Juin 1957
Document

Les principales raisons d’investir

    • Investir surtout dans les actions américaines tout en privilégiant l’innovation à titre de paramètre clé pour cerner les sociétés qui présentent un développement de produits et un leadership exceptionnels.
    • Accroître la diversification d’un portefeuille d’actions américaines ou mondiales de base pour participer au potentiel de croissance que procurent les actions américaines.

Stratégies

L’équipe fait appel à un style de gestion ascendant axé sur la croissance pour repérer les sociétés affichant une croissance supérieure de bénéfices et de revenus par rapport à leurs résultats antérieurs, à leur secteur ou à l’ensemble du marché.

Philosophie

FR: The team's objective is to capture leading growth companies in every investment cycle. The team uses an opportunistic bottom-up approach with front-end quantitative screens and a catalyst identification component to identify high-quality, large-cap U.S. growth companies that can successfully generate sustainable above-average growth for revenues, earnings and cash flow with a strong sell discipline when analysis is unfavorable.
  • We believe market leadership is determined by innovation, the macro-environment and thematic trends, therefore we invest in companies benefitting from new products or services and/or favorable addressable end markets. 
  • We believe that equity market leadership changes from cycle to cycle as companies out-innovate each other and with the maturity of the economic cycle therefore we maintain objectivity by ensuring the investment thesis remains intact everyday with a willingness to purchase every stock held in the portfolio.
  • We also believe that stock prices reflect consensus estimates, therefore we identify catalysts yet to be incorporated into forecasts.

Processus

FR: Our universe contains 1,900+ U.S. companies with market capitalizations of US$2 billion and above. 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 30-50 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 500 Index. 

Our team’s utilization of a bottom-up investment process results in a high conviction portfolio of 30-50 stocks that exhibit above-average growth characteristics.

US Large Cap Growth Equity

Perspectives