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OYSTER

The data and information featured on this website are provided free of charge and solely for information purposes. The information contained herein constitutes neither an offer to purchase nor a solicitation to sell and may not be construed as an investment recommendation on the part of iM Global Partner Asset Management or other entities of the group iM Global Partner, its affiliates, managers, officers, or employees (hereafter « iMGP ») and has no legal or contractual value. Furthermore, any reference to a specific security in any published material is included by way of illustrative example and should not be construed as a recommendation to purchase, hold or sell such a security nor does it in any manner constitute the provision of investment advice in relation to same. OYSTER ( hereafter « OYSTER », « OYSTER Funds » or « Fund ») has not taken any measures to adapt to each individual investor who remains responsible for his own independent decisions. Any investment in the funds presented on the website must be made in conformity with the related legal documentation in force (prospectus, key investor information documents), as approved, where applicable, by the regulatory authority in your country. Oyster is an open-ended umbrella investment company established and regulated in Luxembourg. OYSTER is not open to citizens or residents of the USA or to any other party deemed to be a US person. OYSTER’s current prospectus, key investor information document, by-laws and the annual and, if any subsequent, the semi-annual reports of the Fund can be obtained on this website or from the OYSTER offices at 5, Allée Scheffer, L-2520 Luxembourg or from the Agents and Representatives listed on this website for the specific

jurisdictions where OYSTER is registered. Investors are advised that they should consult the Prospectus before seeking to subscribe and for further details on the risks involved. Moreover, investors are also advised to consult their legal, financial or tax advisors before taking any investment decisions.

Investors are reminded that past performance is not an indicator of future returns, nor does it guarantee future profits, and that they risk, in some cases, losing all or part of the amount initially invested. An investment may increase or decrease by virtue, in particular, of market fluctuations and exchange rate variations in the currency in which the Sub-fund is invested where this differs from the currency of the shareholder.

Disclosure in respect of iM Global Partner Asset Management

Any reference to iM Global Partner Asset Management (« iMGP AM ») or iM Global Partner (« iMGP ») in the material published on this website should be construed as being a reference to one or more of the legal entities, listed below, dependent on the particular jurisdiction in which it is being accessed.

iMGP AM is the Luxembourg management company of OYSTER.

iMGP is a French regulated entity which represents and distributes OYSTER that have been registered in France having branches in Italy, Spain, Germany and also subsidiaries in Switzerland and in the UK for that purpose. iMGP AM is also a subsidiary of iMGP.

Use of links

This website may direct you to automatic links to other websites. Use of these links is made at your own risk. iMGP and the Fund will not have developed, verified the accuracy or scrutinised the data contained in the aforementioned links. iMGP and the Fund may not be held responsible for damage or losses caused by delays, defects or omissions that may exist in the real, indicated or indirect services, information or other content provided on this site. iMGP and the Fund give no guarantee, makes no declaration and will not be held responsible for any content transmitted by electronic means to a third party, including the accuracy, subject, quality or the appropriate character of said content.

Copyrights and Trademarks

The entire content of this website is subject to copyright with all rights reserved to iMGP and the Fund. You may download or print out a hard copy of individual pages and/or sections of the website, provided that you do not remove any copyright or other proprietary notices. Any downloading or otherwise copying from the website will not transfer title to any software or material to you. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the website without the prior written permission of iMGP.

By clicking on the « Accept » button, you expressly acknowledge that you have read the aforementioned and that you are authorized by the applicable law to access this website.

YOUR USE OF THIS WEBSITE REQUIRES FULL ACCEPTANCE WITHOUT RESERVATION ON YOUR PART OF THE CONDITIONS OUTLINED BELOW. IF YOU DO NOT ACCEPT THESE CONDITIONS, DO NOT ACCESS THE WEB SITE OR ANY OF ITS PAGES.

Important Information

The content of this website is intended to Professional Investors. If you are a Private Investor, you should ensure to select the correct investor category when you enter this site, as failure to do so may result in you accessing material about investment funds and investment services which may not be suitable for you and/or may not be available for you to invest in.

Limited access

The information provided herein is also intended for Users in territories where it is permissible for Users to access information. This website may indeed contain information about funds established in different jurisdictions and/or investment services offered too. Please consult the specific sections and material to obtain more information. Users are responsible for ascertaining they are legally authorized to consult the information herein and should therefore ensure the investor category chosen to enter this website is correct.

Use of Cookies

Cookies help us collect data about you and how you use our website. For example, we are interested in knowing which internet browser is used, how long you visited the website and which pages you looked at. Information gathered are used to understand how we can improve the design and functionality of our website to better serve you in future. However, if you wish to restrict the cookies set by us or by any third-party sites, you may generally disable cookies in your internet browser. Your browser help function should let you know how to do this. Please keep in mind that restricting cookies may impact your experience and the functionality on this website.

The Interactive Advertising Bureau has produced a guide which explains how cookies work and how they are managed. Please visit www.allaboutcookies.org to read more on this subject.

OYSTER

The data and information featured on this website are provided free of charge and solely for information purposes. The information contained herein constitutes neither an offer to purchase nor a solicitation to sell and may not be construed as an investment recommendation on the part of iM Global Partner Asset Management or other entities of the group iM Global Partner, its affiliates, managers, officers, or employees (hereafter « iMGP ») and has no legal or contractual value. Furthermore, any reference to a specific security in any published material is included by way of illustrative example and should not be construed as a recommendation to purchase, hold or sell such a security nor does it in any manner constitute the provision of investment advice in relation to same. OYSTER ( hereafter « OYSTER », « OYSTER Funds » or « Fund ») has not taken any measures to adapt to each individual investor who remains responsible for his own independent decisions. Any investment in the funds presented on the website must be made in conformity with the related legal documentation in force (prospectus, key investor information documents), as approved, where applicable, by the regulatory authority in your country. Oyster is an open-ended umbrella investment company established and regulated in Luxembourg. OYSTER is not open to citizens or residents of the USA or to any other party deemed to be a US person. OYSTER’s current prospectus, key investor information document, by-laws and the annual and, if any subsequent, the semi-annual reports of the Fund can be obtained on this website or from the OYSTER offices at 5, Allée Scheffer, L-2520 Luxembourg or from the Agents and Representatives listed on this website for the specific

jurisdictions where OYSTER is registered. Investors are advised that they should consult the Prospectus before seeking to subscribe and for further details on the risks involved. Moreover, investors are also advised to consult their legal, financial or tax advisors before taking any investment decisions.

Investors are reminded that past performance is not an indicator of future returns, nor does it guarantee future profits, and that they risk, in some cases, losing all or part of the amount initially invested. An investment may increase or decrease by virtue, in particular, of market fluctuations and exchange rate variations in the currency in which the Sub-fund is invested where this differs from the currency of the shareholder.

Disclosure in respect of iM Global Partner Asset Management

Any reference to iM Global Partner Asset Management (« iMGP AM ») or iM Global Partner (« iMGP ») in the material published on this website should be construed as being a reference to one or more of the legal entities, listed below, dependent on the particular jurisdiction in which it is being accessed.

iMGP AM is the Luxembourg management company of OYSTER.

iMGP is a French regulated entity which represents and distributes OYSTER that have been registered in France having branches in Italy, Spain, Germany and also subsidiaries in Switzerland and in the UK for that purpose. iMGP AM is also a subsidiary of iMGP.

Use of links

This website may direct you to automatic links to other websites. Use of these links is made at your own risk. iMGP and the Fund will not have developed, verified the accuracy or scrutinised the data contained in the aforementioned links. iMGP and the Fund may not be held responsible for damage or losses caused by delays, defects or omissions that may exist in the real, indicated or indirect services, information or other content provided on this site. iMGP and the Fund give no guarantee, makes no declaration and will not be held responsible for any content transmitted by electronic means to a third party, including the accuracy, subject, quality or the appropriate character of said content.

Copyrights and Trademarks

The entire content of this website is subject to copyright with all rights reserved to iMGP and the Fund. You may download or print out a hard copy of individual pages and/or sections of the website, provided that you do not remove any copyright or other proprietary notices. Any downloading or otherwise copying from the website will not transfer title to any software or material to you. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the website without the prior written permission of iMGP.

By clicking on the « Accept » button, you expressly acknowledge that you have read the aforementioned and that you are authorized by the applicable law to access this website.

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OYSTER US Small and Mid Company Growth

Rayna Lesser
Gestora, Polen Capital

Buscando la perdurabilidad en las empresas de pequeña y mediana capitalización

Rayna Lesser Hannaway, gestora de la cartera del fondo OYSTER US Small and Mid Company Growth, comenta con Alberto Martínez Peláez la aplicación de la filosofía de inversión de Polen a las empresas de pequeña capitalización estadounidenses.

¿Puede explicar su metodología y la estrategia del Polen U.S. Small and Mid Company Growth?

Polen Capital se constituyó en 1979 y lanzó la estrategia Polen Focus Growth en 1989. Así pues, durante más de 30 años hemos aplicado sistemáticamente un enfoque de crecimiento de calidad focalizado mediante el que invertimos como si fuéramos propietarios de las empresas. Hace cuatro años, lanzamos nuestra estrategia U.S. Small Company Growth con la misma mentalidad: identificar las mejores empresas de pequeña y mediana capitalización para invertir en ellas a largo plazo. Nuestro equipo Small Company Growth , dirigido por Tucker Walsh, dispone de un enfoque sumamente colaborativo: yo gestiono la estrategia OYSTER U.S. Small and Mid Company Growth, pero colaboro estrechamente con mis seis compañeros de inversión, que tienen una media de quince años de experiencia.

Alberto Martínez Peláez,
Director Distribution Iberia

¿Cómo encuentran las «mejores» empresas?

Contamos con criterios muy estrictos para que una empresa entre en la cartera. Gestionamos una cartera muy concentrada, especialmente en la categoría de pequeña y mediana capitalización. Mantenemos entre 25 y 35 valores, por lo que tenemos una proporción de gestión activa muy elevada y gestionamos con gran convicción las empresas en las que invertimos.
Para tener esa convicción, necesitamos disponer de un marco, que denominamos nuestro «timón de inversión». Ese timón comienza con una posición competitiva fuerte y con las ventajas de una tendencia a largo plazo. También conlleva que la empresa debe tener un proceso de ventas replicable con el que pueda seguir generando un crecimiento orgánico, márgenes sólidos y flujo de efectivo. Además, debe estar gestionada por un equipo directivo eficaz que sea capaz de reinvertir en el negocio para sostener el crecimiento y mantener o reforzar la posición competitiva. Por eso lo llamamos «timón».

Mantenemos entre 25 y 35 valores, por lo que tenemos una proporción de gestión activa muy elevada y gestionamos con gran convicción las empresas en las que invertimos.

¿Cuál es su horizonte temporal de inversión?

Por lo general, aspiramos a un periodo de tres a cinco años con todas nuestras inversiones. Pero queremos invertir en una empresa que se beneficie de una tendencia que persista durante más de tres a cinco años. Queremos observar una revalorización adecuada durante nuestro periodo de inversión.
Es importante tener en cuenta que las empresas realmente bien gestionadas pueden acusar algunas dificultades a corto plazo. Pero, según nuestra experiencia, si el equipo de gestión es ágil y cuenta con una cultura capaz de adaptarse a las situaciones, estas empresas pueden encontrar la manera de seguir creciendo y también de generar el efectivo necesario para mantener la solidez de su modelo de negocio. Realmente depende de la empresa, y creemos que las empresas en las que invertimos están preparadas para poder no solo sobrevivir en este periodo, sino, en algunos casos, prosperar gracias a las condiciones actuales.

Es importante tener en cuenta que las empresas realmente bien gestionadas pueden acusar algunas dificultades a corto plazo

¿Ha afectado la pandemia a los tipos de empresa que eligen?

Realmente creemos que algunas de las tendencias que ya existían antes de la pandemia probablemente tendrán un efecto acelerador, ya que la gente ha tenido que aprender a trabajar de una forma diferente. Muchos de nosotros estamos trabajando en remoto, y eso va a generar hábitos diferentes. Una de las áreas que creemos que seguirá beneficiándose de la situación es la transición hacia la nube. En nuestra cartera, tenemos una empresa que ofrece soluciones basadas en la nube a las gestoras de activos inmobiliarios y al sector jurídico y que presta servicios a pequeñas y medianas empresas.
Esta empresa se está beneficiando de la tendencia a largo plazo de la transferencia de los procesos manuales y del tratamiento y divulgación de la información a la nube. Ello permite a estas gestoras inmobiliarias de pequeño y mediano tamaño hacerlo todo en aplicaciones basadas en la nube hasta el nivel del cliente. Esto también incluye la capacidad de ofrecer visitas virtuales, lo que puede ayudar en una situación en la que las personas no pueden estar físicamente presentes.

¿ Quieres saber más sobre OYSTER US Small and Mid Company Growth ?

La filosofía de inversión

Más información

Rentabilidad de los fondos

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Gestionado por

Fundada en 1979, Polen Capital es una gestora de activos con sede en Boca Ratón (Florida, EE.UU.). Se especializa en acciones de crecimiento en Estados Unidos y en el mundo y aplica una gestión.

66.700 millones de dólares en activos a finales de abril de 2021.

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