Our research team screens a universe of approximately 24,000 international stocks to produce a list of 300-500 companies with the greatest potential for undervalued streams of sustainable cash flow or assets. Intensive fundamental research is applied to each international stock “buy candidate” identified in the screening process. Part of the research includes the use of real bond yields as a component of the POLARIS’ GLOBAL COST OF EQUITY
. Real bond yields provide a simple method of ensuring adequate compensation for currency risk in an international stock, and influences how much we are willing to pay for an international stock in a country where currency risk is high. Then our research team takes it one step further, gaining marketplace insight from suppliers, customers and competitors.
When we purchase a new international stock for the portfolio, we typically hold the investment for three to five years, and portfolio turnover averages 30% or less annually. We have one of the longest international equity track records of any firm presently in operation and continuously managed by the same individuals.
INTERNATIONAL MULTI-CAP REPORTING (composite only)
INTL. MULTI-CAP PERFORMANCE
GROWTH OF $10,000 EXAMPLE
2016 INTL. COMPOSITE REPORTS