The Driehaus Value Equities team focuses on investing in US-listed equities of public companies with market capitalizations between $100 million and $10 billion, through the Driehaus Small Cap Value strategy. The strategy provides investors with a high active share portfolio of dividend-paying companies with higher quality, higher growth, and lower valuation, factors that are positively correlated to alpha generation and downside protection. The team is led by portfolio managers Len Haussler and Adam Eagleston.
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The strategy seeks to outperform the Russell 2000 Value Index over full market cycles.
Our philosophy is rooted in the team’s experience and research in the small cap space, which demonstrate that dividend-paying companies offer a unique combination of return potential and downside protection. The three tenets of our philosophy are as follows:
Multiple Perspectives Lead to Better Investment Decisions - Our unique combination of independent analysis with spirited, collegial debate improves outcomes.
Favorable Key Characteristics - Companies exhibiting the traits we seek (lower valuation, stronger growth, and higher quality) tend to outperform over long periods of time.
Rigorous Fundamental Analysis Drives Outperformance - In small cap, owning factors is not enough; we determine what will drive stock outperformance through deep fundamental research and independent thinking.
The strategy’s investment process is comprised of four elements:
Idea Generation – Winnow the universe to those companies with characteristics that outperform.
Fundamental Review – Evaluate historical data to identify the most attractive candidates.
Deep Dive Research – Delve deeply into the company’s business model, management, and financials to derive growth potential and identify risks.
Portfolio construction – Strike the balance between maximizing return and minimizing risk.
The result is a broadly diversified portfolio of 75 to 95 high quality, undervalued securities with good growth potential.
Performance review with contributors, detractors and portfolio details.
Kansas City’s WW I museum inspires our 4-4-2. We talk banker shots fired, interest rate trenches, and over the top dividends.