Every portfolio manager at Harris follows the same investment process under all market conditions, believing that strict adherence to the firm's three value tenets can reduce risk and increase returns over time.
The philosophy
A high-conviction, value approach to US equities underpinned by three core investment beliefs that it believes can reduce risk and increase returns over time, irrespective of the prevailing market conditions.
Price
Growth
Management
Reasons to consider
Harris’ generalist research analysts ensure it remains industry agnostic and focused on finding value in the US, regardless of which industries or geographies are currently in favour. They conduct research on companies across industries in search of undervalued, growing businesses with aligned management teams.
Analysts conduct due diligence on potential ideas to estimate intrinsic value and ensure ideas meet management and business quality criteria. Within a concentrated portfolio of 30-50 stocks, they set a buy target at significant discount to its estimate of intrinsic value, and a sell target typically at 90-100% of it. These targets are revisited as the company’s business fundamentals change.
A committee of seasoned investment professionals vets each new idea before voting on whether it should be added to the firm’s approved lists –a robust discussion in which the investment case is challenged by Harris’ experienced professionals.
The analyses and opinions mentioned above represent the author's point of view. They are issued as of this document and are subject to change. They cannot be interpreted as having any contractual value.
Risks to consider
All investing involves risk, including the risk of loss. Investment risk exists with equity, fixed income, and alternative investments. There is no assurance that any investment will meet its performance objectives or that losses will be avoided. There could be other differences across similar products in the same strategy. Investors should fully understand the risks and other relevant details associated with any investment prior to investing.