2024-03-06 10:15:00 ET
Summary
- Polen Capital is a global independently-owned growth equity boutique, led by an experienced team of investment professionals who are committed to preserving and growing the assets of our clients through a prudent and disciplined long-term investment approach.
- In 2023, the Polen Capital U.S. Small Company Growth Composite Portfolio returned 10.46% gross and 10.22% net of fees compared to a 12.75% return for the Russell 2000 Growth Index.
- While the small cap category was challenged, our portfolio remained fundamentally robust.
- While speculating on the pace of interest rate cuts does not influence our approach to investing, as we’ve noted in our prior letters, we believe the portfolio is well-positioned for a recovery.
Commentary
In 2023, the Polen Capital U.S. Small Company Growth Composite Portfolio (the Portfolio) returned 10.46% gross and 10.22% net of fees compared to a 12.75% return for the Russell 2000 Growth Index. In many ways, we believe it served as a testament to the resilience of our investment strategy amidst constant and severe market fluctuations.
Most of the year was challenging for small cap stocks broadly, given the universe tends to be lower quality in nature, populated with many unprofitable and/or highly leveraged businesses prone to the economic cycle. ...
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For further details see:
Polen U.S. Small Company Growth Q4 2023 Commentary