Large Cap Growth Managed Account
The Large Cap Growth Managed Account strategy seeks to produce long-term, excess returns vs. the Russell 1000® Growth 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
Russell 1000® Growth Index -
Portfolio Management
Aziz V. Hamzaogullari, CFA
Strategy Highlights
- Highly selective 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 40 stocks
- Low turnover: 11.2% annualized since inception 7/1/2006*
- High active share: typically greater than 80%**
- Top 10 holdings: typically 40% – 70%
- Up to 20% in non-U.S. securities include ADRs and OTC ADRs***
- Looks to identify high-quality companies–those with difficult-to-replicate business models
- Team must view 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 March 31, 2026.
**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.
***”The Manager uses a proprietary approach to classify securities as U.S. or non-U.S., considering factors such as trading markets, headquarters location, country of organization, revenue sources, and third-party data. No single factor is decisive, and weightings may vary by fund or geographic strategy.
****Holding all else equal, the larger the discount between market price of a particular security and our estimate of its intrinsic value, the greater we view our margin of safety. Margin of safety is not an indication of the strategy’s safety as all investments carry risk, including risk of loss.
IMPORTANT INFORMATION ON RISK: Investing involves risk, including possible loss of principal. Equity securities are volatile and can decline significantly in response to broad market and economic conditions. Growth stocks may be more sensitive to market conditions than other equities as their prices strongly reflect future expectations. Currency exchange rates between the U.S. dollar and foreign currencies may cause the value of the portfolio’s investments to decline.
The Russell 1000® Growth Index is an unmanaged index that measures the performance of those Russell 1000® companies with higher price-to-book ratios and forecasted growth values. Indexes are unmanaged and do not incur fees. It is not possible to invest directly in an index. Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group.
The portfolio manager for GES joined Loomis Sayles on May 19, 2010, and performance prior to that date was achieved at his prior firm. The prior performance is being included as part of the Loomis Sayles Large Cap Growth Managed Account Composite.
The Large Cap Growth Managed Account Composite includes all discretionary accounts with market values at least $100,000 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 Russell 1000 Growth Index and generally within the market capitalization range of the Index. As of 11/1/2020, the Composite was redefined to include only Managed Accounts, previously separate accounts and commingled accounts were included. The Composite inception date is July 1, 2006. The Composite was created in December 2019.
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