Large Cap Growth Managed Account

The Large Cap Growth Managed Account strategy seeks to produce long-term, excess returns vs. the Russell 1000® Growth Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selection.

Overview

Strategy Details

Primary Benchmark

Russell 1000® Growth Index

Portfolio Manager

Aziz Hamzaogullari, CFA

Founder, Chief Investment Officer and Portfolio Manager of Growth Equity Strategies

32 yearsIndustry Experience
15 yearsTenure at Loomis Sayles

Strategy Facts

Composite Inception

7/1/2006

About the Team

Growth Equity Strategies

Long-term, patient investors who strategically allocate capital only to those select high-quality businesses with sustainable growth that of…

$97.4B assets under management (as of 9/30/2025)

Investment Strategy

  • Active management with a long-term, private equity approach to investing
  • High active share: typically greater than 80%*
  • Low turnover (typically 0 – 25% annualized)
  • Seven-step research framework focuses on quality, growth and valuation
  • High-conviction portfolio of typically 30 to 40 stocks
  • Looks to identify high-quality companies–those with difficult-to-replicate business models
  • Team must view growth as sustainable and profitable
  • Stock values are modeled and regularly updated based on our four valuation scenarios: Best, Base, Bear and Worst
  • Seeks to create a margin of safety by investing only when company is selling meaningfully below the team’s estimate of intrinsic value**
  • Active risk management defines risk as a permanent loss of capital, not tracking error or short-term relative underperformance
  • Bottom-up stock selection drives excess returns

Documents

Important Disclosures

*Active share indicates the proportion of the portfolio’s holdings (by market value) that are different than the benchmark. A higher active share indicates a larger difference between the benchmark and the portfolio.

**Holding all else equal, the larger the discount between market price of a particular security and our estimate of its intrinsic value, the greater we view our margin of safety. Margin of safety is not an indication of the strategy’s safety as all investments carry risk, including risk of loss.