Global Growth
Strategy Facts as of 6/30/2024
- Composite Inception 1/1/2016
- Strategy Assets $2.3 billion
The Global Growth strategy seeks to produce long-term, excess returns vs. the MSCI All Country World Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selection.
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Primary Benchmark
MSCI All Country World Index -
Portfolio Management
Aziz V. Hamzaogullari, CFA
Strategy Highlights
- Active management with a long-term, private equity approach to investing
- Seven-step research framework focuses on quality, growth and valuation
- High-conviction portfolio of typically 30 to 45 stocks
- Low turnover: 9.7% annualized since inception 1/1/2016*
- High active share: strives for greater than 90%**
- Top 10 holdings: typically 40% – 50%
- Between 40% – 70% holdings in non-US companies; up to 30% holdings in emerging market companies
- Looks to identify high-quality companies–those with difficult-to-replicate business models
- Team must view cash flow growth as sustainable and profitable
- Stock values are modeled and regularly updated based on our four valuation scenarios: Best, Base, Bear and Worst
- Seeks to create a margin of safety by investing only when company is selling meaningfully below the team’s estimate of intrinsic value
- Active risk management defines risk as a permanent loss of capital, not tracking error or short-term relative underperformance
- Bottom-up stock selection drives excess returns
*As of June 30, 2024.
**Active share indicates the proportion of the portfolio’s holdings (by market value) that are different than the benchmark. A higher active share indicates a larger difference between the benchmark and the portfolio.
As required by GIPS, the prior performance is being included as part of the Loomis Sayles Global Growth Composite.
The Global Growth Composite includes all discretionary accounts with market values greater than $1 million managed by Loomis Sayles that seek to produce long-term excess returns at or below benchmark risk over a full market cycle relative to the MSCI ACWI and generally within the market capitalization range of the Index. The Composite inception date is January 1, 2016. The Composite was created in 2016.
| Cumulative | Gross | Net | Index |
|---|---|---|---|
| 3 Months | 3.81% | 3.62% | 3.01% |
| Year-To-Date | 10.98% | 10.57% | 11.58% |
| Average Annualized Return | Gross | Net | Index |
|---|---|---|---|
| 1 Year | 19.89% | 19.01% | 19.92% |
| 3 Years | 3.36% | 2.69% | 5.94% |
| 5 Years | 11.98% | 11.28% | 11.28% |
| Since Inception 1/1/2016 | 13.81% | 13.06% | 11.12% |
| Year | Gross | Net | Index |
|---|---|---|---|
| 2023 | 37.94% | 36.94% | 22.81% |
| 2022 | -25.37% | -25.80% | -17.96% |
| 2021 | 6.79% | 6.20% | 19.04% |
| 2020 | 36.30% | 35.53% | 16.82% |
| 2019 | 32.16% | 31.34% | 27.30% |
| 2018 | -6.01% | -6.68% | -8.93% |
| 2017 | 33.80% | 32.83% | 24.62% |
| 2016* | 8.62% | 7.81% | 8.48% |
* Since Inception 1/1/2016
As required by GIPS, the prior performance is being included as part of the Loomis Sayles Global Growth Composite.
Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Current performance may be lower or higher than quoted. Returns are shown in US dollars and are annualized for one and multi-year periods. Gross returns are net of trading costs. Net returns are gross returns less effective management fees.
There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return.
