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Growth Equity Portfolio Manager:
Rupert E. Grimm, CFA view Rudi Grimm's profile
Please contact the sales representative serving your area to receive a complete Growth Equity Product kit.
Top 10 Holdings
Weekly Portfolio Update
Investment Review & Market Outlook
Quarterly Letter (Adobe Acrobat required)
Distinguishing Features
- A focus on large capitalization companies which we believe are industry leaders and can sustain superior earnings growth over an extended period.
- The use of quantitative decision support tools to supplement our investment research efforts in managing the portfolios. We emphasize valuation and earnings momentum in addition to the factors affecting long-term earnings growth.
- An experienced team--same management since 1984.
Philosophy
Berkeley Capital Management's Growth Equities investment philosophy is based on the belief that competitively strong companies that over time produce superior earnings growth, should produce above average investment results. Berkeley also believes that performance can be enhanced by selecting growth stocks which are most attractive on a combination of valuation and momentum factors.
Investment Process
- Focus List
From a universe of growth companies as defined by analysts' expectations and a minimum market capitalization of $4 billion, we develop a Focus List of companies which we believe are best able to sustain superior earnings growth over a 5 to 6 year period. Typically, the companies are competitively strong with a significant and growing market share. They tend to be more innovative. They have superior profitability, above average sales growth, superior free cash flow, and better than average earnings stability.
- Purchasing Securities
From the Focus List, we select companies which are most attractive on a combination of:
- Valuation - the discounted value of a stream of
expected earnings
- Earnings Momentum - strong gains and rising expectations
- Price Momentum - positive price trends
- We use proprietary quantitative tools to support our extensive internal and external investment research.
- Sell Discipline
We sell stocks when:
- Events occur which affect expectations of long term earnings growth.
- There is a loss of earnings momentum not recoverable within six months.
- When significantly more attractive situations are available, as indicated by our quantitative disciplines based on valuations and earnings momentum factors.
- Portfolio Structure
- 25 to 35 holdings.
- A "bottom-up" investment process with sector weightings limited by established guidelines.
- Holdings are weighted according to relative attractiveness.
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Copyright 2001-2004 Berkeley Capital Management LLC.® All rights reserved.
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