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That doesn't read to me like "And the only way we can do all that good stuff is to turn this sucker completely over twice a durn burn year! Yeehaw!"the Adviser typically pursues a “growth style” of investing as it seeks to capture market inefficiencies which the Adviser believes are driven by investors’ propensity to be short-sighted and overly focused on quarter-to-quarter price movements rather than on a company’s fundamentals over a longer time horizon (5 years or more). The Adviser believes that this market inefficiency tends to lead investors to underappreciate (sic) the compounding potential of quality, growing companies. To identify this subset of companies, the Adviser generates investment ideas from a variety of sources, ranging from institutional knowledge and industry contacts, to the Adviser’s proprietary screening process that seeks to identify suitable companies based on several quality factors such as rates of return on equity and total capital, margin stability and profitability. Ideas are then subject to rigorous fundamental analysis as the Adviser seeks to identify and invest in companies that it believes reflect higher quality opportunities on a forward-looking basis. Specifically, the Adviser seeks to buy companies that it believes are reasonably priced and have strong fundamental business characteristics and sustainable and durable earnings growth. The Adviser seeks to outperform peers over a full market cycle by seeking to capture market upside while limiting downside risk. For these purposes, a full market cycle can be measured from a point in the market cycle (e.g., a peak or trough) to the corresponding point in the next market cycle
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I looked at this a while ago and my recollection is it loads up on the momentum factor but definitely has had good risk control. It is more volatile than how the strategy reads but I just assume words mean different things to different people and so will not quibble about the strategy language. I have no issue recommending this to you, @WABAC, knowing what else you own. May be I should have sent this as a message.
P.S.: we recently exchanged ideas about dividend ETFs on another thread. If I were looking for an OEF, GQHIX would be a worthy consideration. Note that both these have some international stocks in them, notwithstanding "US" in the fund name. Similarly, their international fund has US stocks. Also, know that GQG may take contrary bets like going long on stocks that are targeted by shorts. If you want an active fund, you will get one!
https://www.morningstar.com/asset-management-companies/gqg-partners-BN00000J55/funds
I tend to be active, but do hold some funds long term. For the ones I hold, I want an active (but successful) management of the assets. So far, GQEPX has been that.
I'll need some cooperation from Mr. Market before I have more cash to sink into equities for the IRA. And then I'll have to think about whether I want more of the equity sleeve in the larger, and growthier cap boxes. At this point its main competition would be AMAGX if I go larger and growthier or GTSGX if I want to keep the current spread. Or I could just stick with the funds I have already condensed into, as described on the buy, sell, why thread
@yogibearbull, I'm not seeing the turnover history at that link. I see a condensed M* summary of all their share classes.
I have looked at the history of its weight in the M* boxes on the portfolio page.
@raqueteer, AUSF has 245% yearly turnover because of a specific sector rotation type of strategy that makes sense to me for the purpose I bought it for. So I own it for now.
When it comes down to humans saying this stock is something I need to buy, or sell, right this minute, there's Charlie Munger turnover, and then there's Rajiv Jain turnover.
Seems to me that the more often a manager is selling and buying stocks, the more often he has to be right.
According to the M* GQEPX One Page Report, here are the fund's annual turnover rates:
2019 - 155%
2020 - 163%
2021 - 143%
2022 - 125%
2023 - 211%
I remember when M* used to have a one page report, but I don't remember seeing one lately.. Is it a subscription feature?
My local library system offers Morningstar Investing Center (MIC).
I can access a fund's One Page Report (and full report) via MIC.
MIC also provides access to the M* StockInvestor, FundInvestor, and ETFInvestor newsletters.
M* Investor https://investor.morningstar.com/mm/
M* Newsletters https://newsletters.morningstar.com/
I assume you do not have to also have a M* premium membership but I am just guessing
I have subscribed to most of them of andon over the years but never found them particularly useful
They did have model portfolios that were reasonable but I don't remember being super excited about their results
these newsletters should be available via PDF download for free.
https://www.bloomberg.com/news/articles/2024-03-27/some-stock-pickers-show-active-can-still-beat-passive-investing?srnd=homepage-americas&sref=OzMbRRMQ
"Rajiv Jain, co-founder of GQG Partners in Florida, has taken a similar approach, making concentrated bets on just a handful of stocks. His biggest fund, a $42 billion vehicle distributed by Goldman Sachs that includes old-guard energy companies such as TotalEnergies SE and tech superstar Nvidia, has returned 13% annually since its inception in 2016, double the gain of its benchmark.
Last year, Jain scooped up shares of Adani Group companies as others fled amid a short seller’s accusation of accounting fraud. The contrarian bet paid off, with the value of his investment growing fivefold when Adani weathered the crisis. “We are a business of taking risks,” Jain says. “You have to be uncomfortable sometimes. If you look like an index all the time, guess what? You get indexlike returns.”
Jain, who moved to the US in 1990 from India, makes outsize bets on companies with strong balance sheets and decent earnings growth. Unlike Rizk, though, he is liable to change his mind quickly when market conditions shift, and he has no qualms about liquidating his position if he sours on a company’s prospects. “Our job is to make money for our clients,” Jain says. “It’s not an ideological exercise. We are not trying to change the world.”