SGA builds high-conviction portfolios of sustainable growth companies from the bottom up without regard for benchmark composition. Each portfolio invests selectively in fundamentally strong businesses with steady long-term earnings prospects and attractive valuations. Portfolios typically differ materially from stock market indices in their composition, a hallmark of our management style.
Flagship Portfolios
| Portfolio | Holdings | Positions | Domiciled Companies |
|---|---|---|---|
| U.S. Large Cap Growth | 25-30 | 2-6% | 80-100% U.S. Domiciled Companies |
| Global Growth | 25-35 | 2-6% | 35-65% Non-U.S. Domiciled Companies |
| International Growth | 25-35 | 2-6% | 90-100% Non-U.S. Domiciled Companies |
| Emerging Markets Growth | 25-35 | 2-6% | Over 50% Emerging Domiciled Companies |
| Global Mid Cap Growth | 25-35 | 2-6% | 35-65% Non-U.S. Domiciled Companies |
Focused Portfolios
| Portfolio | Holdings | Positions |
|---|---|---|
| U.S. Focused Growth | 10-15 | 6-10% |
| Global Focused Growth | 10-20 | 5-10% |
The portfolio generated strong absolute returns in Q4 but trailed the Russell 1000 Growth Index as markets rose sharply on expectations for a trade war truce, new monetary accommodation and improved profit growth.
The portfolio generated strong absolute returns in Q4 but trailed the MSCI All Country World ex-USA Index (ACWI ex-USA) as global markets rose sharply due to rising optimism over future global economic growth; higher beta small-cap growth companies with lower returns on equity and no earnings performed best.
The portfolio generated strong absolute returns in Q4 but trailed the MSCI All Country World Index (ACWI) as global markets rose sharply due to rising optimism over future global economic growth; smaller-cap growth companies with higher betas, lower returns on equity and no earnings performed best.
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Mutual Funds
Virtus SGA Emerging Markets Growth Fund
Virtus SGA International Growth Fund
John Hancock U.S. Global Leaders Growth Fund
Managed Accounts
Variable Insurance Trust Funds
Virtus SGA International Growth Series
Collective Investment Trusts (CITs)
SGA Global Growth CIT
SGA International Growth CIT
Pooled Vehicles
Virtus GF SGA Global Growth Fund
SGA Global Growth Canadian Pooled Fund
Emerging Markets Growth Commentary - Q4 2019
SGA’s Emerging Markets Growth portfolio returned 9.0% (gross) and 8.8% (net) in Q4 2019 compared to 11.8% for its primary benchmark the MSCI Emerging Markets Index; during the same period the MSCI Emerging Markets Growth Index returned 13.7%.