The Driehaus US Growth Equities team focuses on investing in US-listed equities of public companies with market capitalizations between $100 million and $15 billion, through the Driehaus Micro Cap Growth, Driehaus Small Cap Growth, Driehaus Small/Mid Cap Growth and Driehaus Life Sciences strategies. The strategies provide investors with high active share portfolios of companies experiencing positive fundamental change in addition to exposure to positive growth inflections, earnings surprises and earnings revisions, factors that are positively correlated to alpha generation. The team is led by Jeff James who began his portfolio management career at Driehaus in 1998. He is supported by six analysts that combined have over 50 years of Driehaus research experience.
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The strategy seeks to outperform the Russell Microcap® Growth Index over full market cycles.
The strategy seeks to outperform the Russell 2000® Growth Index over full market cycles.
The strategy seeks to outperform the Russell 2500® Growth Index over full market cycles.
The strategy intends to exploit the inefficiencies in how markets assign risk to development-stage and early-commercial stage healthcare companies.
The team employs a growth-oriented investment philosophy focusing on identifying company-specific growth inflection points and exploiting associated marketplace inefficiencies. Core to the philosophy are the beliefs that: earnings are the primary driver of equity prices over time, market expectations tend to be ‘anchored’ to historical information and points of inflection therefore introduce dislocations between market expectations and fundamentals which generate significant alpha capture opportunities. The team combines fundamental, macro/sector/industry and behavioral analysis in its investment process together with a nimble/active investment approach to quickly identify inefficiencies and generate a portfolio, which uniquely seeks to achieve superior aggregate growth rates as well as superior risk characteristics.
COVID-19 has catalyzed and accelerated the adoption of technology in industries amenable to digital innovation. In order to keep up with the increased e-commerce demand, freight brokers are in a race to develop better technology to improve their service.
The second quarter experienced one of the sharpest quarterly percentage gains in market history. The S&P 500 posted its best percentage quarterly performance since 1998 and the Nasdaq Composite had its best quarter since 1999, as the economy began to reopen after the coronavirus lockdown. The Russell 2500 Growth reported its second-best quarter ever (the fourth quarter of 1999 was the best).