Turner Concentrated Growth Equity
Currently, all assets and accounts in this strategy are Institutional account assets.
Turner Concentrated Growth Equity is an actively managed portfolio of about 20 -30 growth stocks with market capitalizations typically greater than $3 Billion, that represent what Turner Investment Partners believes are its best investment ideas. Holdings are diversified to some degree by market sector as well as by capitalization range. Those holdings, in our judgment, have strong earnings prospects and are already owned in at least one of our other stock portfolios.

Inception date: 1.1.98
Performance benchmark: Russell 1000 Growth Index


Profile | PDF Institutional Composite Information as of 9.30.08 (Includes performance returns, fees and portfolio statistics)

Profile

Investment Objective
To produce a total return after fees exceeding that of the Russell 1000 Growth Index over a full market cycle.
Growth Equity
Investment Policy
For Turner Concentrated Growth Equity (and all our equity portfolios), we believe earnings expectations drive stock prices. We buy companies with strong earnings prospects and sell those with deteriorating prospects. By focusing on a select number of stocks that we think offer the greatest return potential at the time, Concentrated Growth can generate strong results over time, in our estimation. Our intent is to avoid diluting performance by owning too many stocks, so that when we latch onto a winner, its positive contribution to the portfolio's overall return won't prove negligible.

Investment Philosophy
By emphasizing selectivity and quality, we believe Turner Concentrated Growth Equity's individual holdings will have the potential to exert a greater proportional impact on performance than those of other, more diversified portfolios.

Investment Process
Turner Concentrated Growth Equity's investment process involves the use of three tools to evaluate stocks with varied market capitalizations for investment or continued ownership:

  • a proprietary computer model, used to screen candidates for investment according to a diverse range of earnings-growth and valuation factors. Companies thus screened are ranked from the first percentile (most attractive) to the 100th percentile (least attractive). Those ranked in the top 35% qualify for further consideration.

  • fundamental analysis, used to ascertain if the companies we follow will exceed, meet, or fall short of consensus earnings expectations.

  • technical analysis, used to evaluate changes in trading volume and prices of individual stocks.
Altogether, stocks that rate favorably according to the three tools may be purchased. Conversely, stocks that rank unfavorably in those criteria either aren't purchased or, in the case of holdings, are sold.

Important Disclosure Information

Turner Investment Partners, Inc. is an independent, employee-owned investment management firm providing a broad range of services. The Firm is a U.S. Securities and Exchange Commission registered investment advisor and is dedicated to the practice of professional investment management.  Turner Investment Partners has prepared and presented this report in compliance with the Global Investment Performance Standards (GIPS®). To receive a complete list and description of Turner's composites and/or presentations that adhere to the GIPS® standards, contact Debi Rossi at drossi@turnerinvestments.com or write Ms. Rossi at Turner Investment Partners, Inc., 1205 Westlakes Drive, Suite 100, Berwyn, PA 19312.

Total firm assets under management as of  9.30.08 were approximately $22.2 billion. Assets under management totals include a limited number of non-discretionary arrangements where Turner provides a model portfolio. As of 9.30.08, 4.2% of Turner's assets under management were non-discretionary. Firm assets for 1998 include $360 million from Solon Asset Management, acquired 1.5.98. Past performance is no guarantee of future results.

Characteristics, holdings, and sector weighting information are subject to change, and should not be considered as recommendations. Cash consists of U.S. dollars and/or cash equivalents such as repurchase agreements, certificates of deposits or commercial paper. Forward earnings projections are not predictors of stock price or investment performance, and do not represent past performance. There is no guarantee that the forward earnings projections will accurately predict the actual earnings experience of any of the companies involved, and no guarantee of future results.