Overview
Overview
Fiera Capital Small Cap Growth SMA seeks to achieve long-term capital growth by investing in a dynamic combination of stable and emerging growth stocks of small-cap growth-oriented companies as it seeks to outperform its benchmark, the Russell 2000 Growth Index.
Benchmark: Russell 2000 Growth Index
Top-Down/Bottom-Up Approach
Focus on top-down secular growth trends and bottom-up fundamental drivers.
Investing in Different Phases of Growth
Portfolio construction consists of a dynamic combination of Stable and Emerging Growth companies.
Disciplined Process
Focus on a disciplined, consistent and repeatable process over multiple economic cycles.
Philosophy
Philosophy
The investment team believes the intersection of top-down global secular trends combined with rigorous bottom-up fundamental research is a key driver of repeatable alpha generation. The team believes the market tends to underestimate the longer-term impact of inflections in areas that have a compelling thematic backdrop or supportive structural growth dynamics. The team’s proprietary process balances portfolios between “stable growth” companies with more established fundamentals and “emerging growth” companies with higher growth potential.
Process
Process
Thematic investing seeks to identify secular growth trends that may provide a tailwind for companies that benefit from or provide innovative solutions to major technological, economic, demographic, regulatory or societal changes.
The investment team efficiently narrows the universe of listed securities within the market capitalization range of the benchmark by using growth screens and by seeking improving fundamentals to discover both stable and emerging growth candidates.
By means of a rigorous risk management process, the team seeks to maximize alpha while controlling the downside through its sell discipline:
- Prices increases (begin trimming at 5% portfolio weight).
- Changes to fundamentals, including investment thesis changes, a decline in future growth prospects decline, a loss of confidence in management, and negative earnings surprises.
- Swapping securities when better ideas emerge with enhanced risk/return characteristics.
- Add or Delete Rule.
Team
Team
Depth and expertise in traditional and alternative strategies
Fiera Capital Corp. ("Fiera Capital") is a global investment management firm with $117 billion in AUM1 (as of 12/31/22), with over 200 investment professionals providing depth and expertise across traditional and alternative investment strategies. Fiera’s boutique structure empowers their investment teams to focus on their core competencies, while providing access to the firm’s deep resources.
Sunil M. Reddy
Head of Growth Equity, Lead Portfolio Manager
David Cook
Portfolio Manager & Equity Analyst
Michael Carrier
Vice President, Portfolio Manager
Bhavik Kothari
Portfolio Manager & Equity Analyst
Rick Vallieres
Portfolio Manager & Equity Analyst
Audrey Le
Portfolio Manager & Equity Analyst
Michael Yoo
Equity Research Analyst