AGF Global Select Equity ADR

Approach
Fundamental, bottom up.
Cap
All Cap
Benchmark
MSCI All Country World Index
Inception Date
August 2011

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

A bottom-up growth investment style that looks for companies with above-average earnings and revenue growth relative to their historical earnings, the industry or overall market.

Philosophy

We believe that investing in the growth leaders of each market cycle offers investors the best opportunity to outperform over time. For this reason, we seek companies that reflect innovation and quality, while exhibiting a clearly defined strategy for achieving above average growth and the proven ability to implement and drive the strategy forward. Our approach leads to a concentrated, high conviction portfolio.

Investment Process

We employ a bottom-up stock selection process based on in-depth fundamental research. Our process begins with a global investment universe of over 5,000 securities

This universe is then narrowed to a list of 350+ companies through a variety of both qualitative and quantitative screens to identify companies in the universe that exhibit growth characteristics defined by our team. The quantitative screens narrow the investable universe by analyzing key factors such as revenue growth, earnings growth, positive earnings revisions and rising free cash flow. Growth measures are viewed from both an absolute and relative basis, as well as a historical perspective in conjunction with an examination of sustainability into the foreseeable future.

Proprietary research models and external databases are utilized to determine these characteristics for each company. The qualitative analysis continues to narrow the investable universe to 200+ companies through on-going, targeted research. This analysis identifies strong companies with leading product or service innovations, strong management and industry leaders in attractive markets. Company valuations are constantly monitored on both an absolute and relative basis compared to a peer group and the market, and valuation is also considered on a relative basis considering the long-term growth expectations. The rigorous bottom-up research process ensures each candidate for inclusion exhibits strong fundamentals.

The catalyst identification process further reduces the universe to 100+ companies, singling out potential purchase candidates. Factors scrutinized at this stage include market share trends, research and development (R&D), free cash flow generation and profitability. These factors are included in evaluating a company's ability to grow at above average rates. Innovation and the allocation of spending to R&D are closely monitored, as is the productivity of this spending.

Our resulting high-conviction portfolio consists of 25-40 companies that exhibit strong growth characteristics.

Investment Process

GLOBAL ALL-CAP UNIVERSE
  • 5,000 stocks
Portfolio
  • 25 - 40 names
  • High conviction
  • Leaders
  • Innovation
  • Macroeconomic
  • Thematic trends

Investment Team

Tony Genua
Tony Genua
SVP & Portfolio Manager
AGF Investments America Inc.
Mike Archibald
Mike Archibald, CFA®, CMT, CAIA
Portfolio Manager
AGF Investments Inc.
Regina Chi
Regina Chi, CFA®
Portfolio Manager
AGF Investments America Inc.
Auritro Kundu
Auritro Kundu, MBA
Portfolio Manager
AGF Investments America 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.

Regina Chi, CFA®
Portfolio Manager

Regina Chi has lead responsibility for AGF Investments’ Emerging Markets strategies. She looks for quality companies with fundamental catalysts and long-term sustainable competitive advantages at attractive valuations. Regina is a member of the AGF Investments Asset Allocation Committee, a group of senior investment professionals that meet quarterly to discuss, analyze and assess the macroeconomic environment and capital markets to determine optimal asset allocations. She also serves as co-Chair of AGF’s Diversity, Equity and Inclusion Committee, which develops, creates organizational awareness around and promotes DEI best practices across the firm.

Regina brings more than 25 years of international equity experience to this role. Prior to joining AGF Investments, Regina was a partner at a boutique U.S. investment firm, where she served as portfolio manager for the Emerging Markets and International Value disciplines. She was also head of portfolio management and research as they related to Emerging Markets, Global, International and International Small Cap strategies. Prior to this role, she held senior investment management roles at several large and boutique investment firms in the U.S.

Regina is a CFA® charterholder. She received her Bachelor of Arts in Economics and Philosophy from Columbia University. She is also a member of 100 Women in Finance, an organization working to strengthen the global finance industry by empowering women to achieve their professional potential at each career stage.

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

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

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.

Abhishek Ashok
M.A., MFE, CFA®
Analyst
AGF Investments Inc.
Consumer Staples
Richard Fisher
M.A. (Econ.)
Senior 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.
Sam Mitter
MBA
Portfolio Manager
AGF Investments America Inc.

The AGF Equity Analyst Team consists of individuals from AGF Investments Inc. Personnel of AGF Investment Inc., an affiliated adviser located in Canada that is not registered with the SEC, provide research services to clients of AGF Investments America Inc through an Affiliate Resource Arrangements.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.