Overview
Assets
$391.5 million
As of December 31, 2023
Inception Date
April 1, 2005
Holdings
20-25
Turnover
Typically 25-40%
Body
Philosophy
The Dividend Growth Strategy (“the Strategy”) seeks quality companies trading at attractive valuation levels with growing dividend payments. The Strategy primarily invests in large-capitalization companies with management teams focused on increasing their return to shareholders in the form of dividends.
Process
Utilizing a bottom-up, fundamental approach, we search for quality companies with growing dividend payments trading at attractive valuation levels. We believe the Strategy’s process is distinguished by three key attributes:
High Quality
- Strong and sustainable business models
- Competitive advantages, barriers to entry and unique differentiation
- Strong returns on invested capital and high levels of free cash generation
Dividend Growth
- Ability and willingness to return more cash to shareholders through dividend payments
- Dividends growing faster than the market
- Target a portfolio yielding at or above the benchmark
Concentrated Portfolio
- Reflects our deep conviction in holdings
- Controls risk through diversification and appropriate position sizing
- Enables us to conduct rigorous, fundamental research on every holding
Commentary