Domestic Equities

All Cap

A Differentiated Approach to Investing

We believe excess returns relative to the general market are best achieved by investing in high quality companies selling at attractive prices. We focus on companies that have strong management, broad resources, and a competitive market position that have historically generated, or are positioned to generate, strong Return on Invested Capital (ROIC).

Investment Philosophy

We believe excess returns relative to the general market are best achieved by focusing on companies that generate high ROIC, which we believe are the ultimate driver of shareholder returns.

Strategy Description

The goal of the strategy is to identify attractive investments across market caps and investment styles based on our bottom-up, fundamental research approach. We seek to invest in high ROIC companies trading at a 20% discount to our proprietary intrinsic valuation and employ proprietary screens to limit the universe to companies with low embedded expectations. Our all-weather approach has generated consistently positive risk-adjusted returns over different market cycles.

Approach

Return On Invested Capital

The team seeks to uncover companies with high or increasing ROIC, signaling the ability to sustain a competitive advantage.

Free Cash Flow Growth

We focus on companies that can grow their free cash flow and deliver superior risk-adjusted performance over time.

Strong Management Teams

We identify strong management teams that are incentivized to focus on the value of cash flow generation, ROIC, and sustainable corporate cultures.

Independent Research Approach

Utilizing fundamental analysis, the team employs an independent research approach to uncover catalysts of change that are not fully appreciated by the market.

Integrated Approach to ESG

We integrate Environmental, Social and Governance (ESG) factors into our research as we believe well-run organizations that prioritize the values of their stakeholders can have durable competitive advantages over their peers.

Portfolio Managers

Ralph M. Segall, CFA, CIC

Chief Investment Officer

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Suresh Rajagopal, CFA

Director of All Cap Strategies, Director of ESG Research

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Investment Vehicles

Separate Account

CIT

Literature

Recognitions

 

Manager of the Decade, All Cap Universe1

Related Insights

Explore the views of our thought leaders on related topics.

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1You can find more information about the PSN Top Guns Award here. Segall Bryant & Hamill did not pay to participate in the PSN Top Guns award. PSN Top Guns Manager of the Decade. As of 12/31/21. Criteria: The PSN universes were created using the information collected through the PSN investment manager questionnaire and use only gross of fee returns. Mutual fund and commingled fund products are not included in the universe. PSN Top Guns investment managers must claim that they are GIPS compliant. Products must have an r-squared of 0.80 or greater relative to the style benchmark for the ten-year period ending December 31, 2021. Moreover, products must have returns greater than the style benchmark for the ten-year period ending December 31, 2021 and also standard deviation less than the style benchmark for the ten-year period ending December 31, 2021. At this point, the top ten performers for the latest ten-year period ending December 31, 2021 become the PSN Top Guns Manager of the Decade.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

All opinions expressed in this material are solely the opinions of Segall Bryant & Hamill. You should not treat any opinion expressed as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of the manager’s opinions. The opinions expressed are based upon information the manager considers reliable, but completeness or accuracy is not warranted, and it should not be relied upon as such. Market conditions are subject to change at any time, and no forecast can be guaranteed. Any and all information perceived from this material does not constitute financial, legal, tax or other professional advice and is not intended as a substitute for consultation with a qualified professional. The manager’s statements and opinions are subject to change without notice, and Segall Bryant & Hamill is not under any obligation to update or correct any information provided in this material.

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