The Driehaus Global team invests in global securities of all capitalizations, with a focus on larger cap securities. The strategy provides investors with exposure to companies demonstrating improving earnings growth that are supported by global macroeconomic trends. The team is led by portfolio managers Richard Thies, Howard Schwab and Dan Burr.
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The team employs a growth-oriented investment philosophy, targeting companies with improving earnings growth prospects. The team relies heavily on macroeconomic and secular industry-level trends to identify attractive investment opportunities. In addition to applying these macroeconomic views, the team employs quantitative screening and leverages the fundamental research of the firm’s global investment teams to identify attractive themes and investments.
In our first commentary of the year, we’ve promised ourselves not to spend too much time on the most well-trodden territory. We realize manager commentaries are easy to find and it’s harder to add any value on a subject when everyone is discussing it, though many of those subjects are on our minds as well.
Leveraging an investment philosophy that has been successful for over four decades, existing resources that cover all global markets, a heavy reliance on following macroeconomic and industry trends, and a healthy dose of humility, we embarked on what we hope to be a successful, long-term journey into the global equity space. We entered this space, with the knowledge that it is a competitive one, because we feel like we have something to add. The current global equity environment seems a challenging one with index concentration growing, equities appearing expensive, and a monetary environment that has grown increasingly deflationary.