Philosophy

Sustainable Growth Advisers (“SGA”), the Fund’s Advisor, believes that the best way to preserve and grow capital while incurring a lower level of risk is to invest only in the most predictable, the most sustainable, high-quality growth companies and allow the strong cash flows generated by those businesses to compound out for investors. SGA will:

Identify and own only those few differentiated businesses that we believe offer predictable, sustainable growth over the long-term

Invest with conviction based on thorough research in
our best 20-30 ideas

Invest based on opportunities, not relative active weights
Benchmark agnostic in portfolio construction

Use valuation as an important element of selection
We believe Cash flow metrics best reflect reality

Invest with a long-term horizon which may uncover
inefficiencies

Remain patient only as long as the investment
premise is intact