Polen Emerging Markets Growth

Polen Capital Management, LLC is an independent registered investment advisor.

Polen Capital claims compliance with the Global Investment Performance Standards (GIPS). This presentation is supplemental information to the fully compliant GIPS Composite Report performance disclosure on the Materials tab.

All performance is calculated in US Dollars. Past performance is not indicative of future results. Performance figures are presented gross and net of fees and have been calculated after the deduction of all transaction costs and commissions and include the reinvestment of all income.

The MSCI Emerging Markets Index is a market capitalization weighted equity index that measures the performance of the large and mid-cap segments across emerging market countries. The index is maintained by Morgan Stanley Capital International. The volatility and other material characteristics of the indices referenced may be materially different from the performance achieved. In addition, the portfolio’s holdings may be materially different from those within the index. Indices are unmanaged.

Holdings are subject to change. The top holdings, as well as other data, are as of the period indicated and should not be considered a recommendation to purchase, hold, or sell any particular security. There is no assurance that any of the securities noted will remain in a portfolio at the time you receive this fact sheet. Actual holding and percentage allocation in individual client portfolios may vary and are subject to change. It should not be assumed that any of the holdings discussed were or will prove to be profitable or that the investment recommendations or decisions we make in the future will be profitable. A list of all securities held in this portfolio in the prior year is available upon request.

Portfolio characteristics are shown as of the stated date. There can be no guarantee that the portfolio will exhibit identical or similar characteristics to those shown at any future time of investment. Investments are subject to risks, including the possibility that the value of any investment (and income derived thereof (if any)) can increase, decrease, or in some cases, be entirely lost and investors may not get back the amount originally invested. This document does not identify all the risks (direct or indirect) or other considerations which might be material to you when entering any financial transaction. The views and strategies described may not be suitable for all clients.

ESG refers to Environmental, Social, and Governance criteria. The Global Emerging Markets Growth strategy integrates material environmental, social, and governance (ESG) factors into research analysis as part of a comprehensive evaluation of a company’s long-term financial sustainability. There is a risk that the investment techniques and risk analyses applied, including but not limited to the integration of ESG factors into the research analysis, will not produce the desired results and that legislative, regulatory, or tax developments may affect the investment techniques available. There is no guarantee that the investment objective will be achieved.

Active Share: Active share is a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index. 

Alpha: is the excess return of an investment relative to the return of the benchmark. 

Annual Turnover: percentage of the portfolio's holdings that have been replaced in a given year. 

Beta: the measure of systemic risk of a portfolio in comparison to the market as a whole. 

Downside Capture: is a statistical measure of overall performance relative to a benchmark during declining markets. 

GICS Sectors: The Global Industry Classification Standard (GICS) is a system for categorizing every public company by economic sector and industry group.

Information Ratio: a measurement of portfolio returns relative to a given benchmark. 

Net Debt/Equity ex Lease: is a measure of a company's financial leverage calculated by dividing its net liabilities by stockholders' equity, excluding leases.

 P/E Forward: denotes the weighted harmonic average of all the P/E’s of the securities in the fund’s portfolio. 

Polen Long Term EPS Growth Estimate: a Polen Capital estimate of projected long-term earnings growth rates (Earnings Growth is not a measure of future performance).

Upside Capture: is a statistical measure of overall performance relative to a benchmark during rising markets. 

Return on Invested Capital: assesses a company’s efficiency at allocating the capital and is measured by operating profit after taxes divided by investment capital. 

Sharpe Ratio: a ratio of the return on an investment relative to its risk. 

Standard Deviation: measurement of the dispersion or volatility of investment returns relative to its mean or average. 

Weighted Average Market Cap: a weighted average of the price of each security multiplied by the number of shares outstanding all the securities in the portfolio.