The Baird Large Cap portfolio's (sub-advised by Baird Kailash) decision-making process is primarily quantitative and driven by proprietary models that rank securities based on fundamental measures of value, past performance and indicators of recent positive changes.
In addition to a quantitative assessment, the portfolio manager evaluates the outputs from the models based on regular fundamental analyses and uses such evaluation to identify process-oriented items to improve the model. More specifically, characteristics or items identified as potential risks or opportunities on a fundamental level are tested to see if they are actionable and can be part of a repeatable investment process.
In selecting investments, the process focuses on securities that are out of favor in the marketplace but have experienced favorable risk-adjusted returns. While the portfolio manager considers both “growth” and “value” factors in its investment processes, the selection process may have a tendency to be more value-oriented.
Large Cap Equity
- Performance (PDF)
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