The Granahan Future Pathways UCITS Fund follows the same style as GIM's Future Pathways strategy. Our core belief is that as the world embraces a more sustainable future, we anticipate the US SMID Cap universe being filled with many great growth companies that help meet the demand for sustainable clean energy, smarter water management, and reduced waste solutions. We also expect that society will look to the market for answers to these problems, along with ways to improve social outcomes in healthcare, labor, justice, and education. Our interest is in companies that improve the world for future generations. We want Future Pathways to be flexible and adaptable to environmental and social issues as they arise and to rotate where the best opportunities exist for stock appreciation in this universe.
Future Pathways is not constructed based on ESG ratings. Since the US is still in the early innings of prioritizing and applying ESG best practices, there’s no standard measure of social good. It’s obvious when you see it, but it’s not yet reflected appropriately in a global standardized rating system. For that reason, we’ve chosen to map the Future Pathways portfolio to United Nations Sustainable Development Goals (SDG’s) in lieu of providing such things as portfolio level carbon metrics or portfolio level ESG scores that only tell part of the story.
Our focus is on traditional fundamentals while also uncovering the intrinsic value of societal impact. We do this by engaging with what we believe are quality companies that offer products or services to help larger entities, and even individuals, meet their respective environmental and social goals.
The Granahan US SMID Select Fund follows the same style as GIM's SMID Select strategy. Granahan Investment Management (GIM) believes that smaller dynamic companies provide excellent potential for superior long-term performance. GIM’s SMID Select strategy is grounded in the belief that a disciplined, fundamental, bottom-up research process can identify underappreciated growth potential in companies that may or may not have a history of strong growth. The resulting portfolio has the optimum combination of stocks with underlying thematic growth drivers, and stocks of well-positioned companies that are poised for positive earnings revisions or are benefiting from fundamental/technical momentum. We seek companies that can sustain growth through market disruption. The portfolio focuses on stock selection with an overlay of thematic ideas showing the best risk/reward.
As part of a disciplined portfolio construction process, at GIM, every company in the portfolio is placed into one of three investment categories: Core Growth, Pioneer and Special Situation. These LifeCycle categories each have different performance drivers so provide true diversification and help mitigate risk in the portfolio.
The Granahan US Focused Growth Fund follows the same style as GIM’s Focused Growth strategy and is grounded in the belief that superior long-term returns are best achieved through a select portfolio of smaller companies poised to grow at 15% or more. Granahan Investment Management (GIM) believes that small dynamic companies provide excellent potential for superior long-term performance.
Within this philosophy we seek to own companies with large open-ended opportunities, a favorable competitive landscape, products or services providing a significant value proposition to the customer, and that have clean balance sheets.
This company analysis is combined with a rigorous valuation discipline centered on a stock's expected return and risk/reward. The net result is a portfolio of 40-50 attractively priced stocks of some of the most exciting and innovative companies in the economy, and a portfolio that has generated consistent, strong risk-adjusted returns over time.
The Granahan US Small Cap Discoveries Fund is a re-launch of the Vanguard US Discoveries Fund that was closed in May 2017. Like the prior fund, the Granahan US Small Cap Discoveries Fund follows the same style as GIM’s Small Cap Discoveries strategy.
Granahan Investment Management (GIM) believes that small dynamic companies provide excellent potential for superior long-term performance. The Discoveries strategy exploits the inefficiencies in the U.S. small/micro-cap market. This segment of the market produces a skewed distribution of returns where a small but meaningful number of high-performing stocks drive the return of the benchmark. These high-performing stocks range from hyper-growth companies to companies that have sorely disappointed investors in the past.
GIM’s small cap experts use a disciplined, fundamental, bottom-up research process to identify strong earnings growth potential in companies that may or may not have a history of strong growth.
As part of a disciplined portfolio construction process, every company in the Discoveries portfolio is placed into one of three investment categories: Core Growth, Pioneer and Special Situation. These LifeCycle categories have different performance drivers so provide true diversification and help mitigate risk in the portfolio.
The end result is a portfolio with the optimum combination of emerging growth prospects and stocks of well-positioned companies struggling under negative sentiment that together may achieve excess returns while limiting losses.
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(1)Performance data quoted reflect past performance and are no guarantee of future results. Please note that the price of shares and the income from them can fall as well as rise and you may not get back the amount originally invested. Income receivable may vary from the amount of income projected at the time of making the investment.
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