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PRIVATE CLIENT | GROWTH AND VALUE BLEND EQUITY
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Dearborn Partners' Growth and Value Blended Strategy seeks to provide the best of both worlds in one portfolio, recognizing the
portfolio manager's job to allocate capital where it is most likely to be rewarded and opportunistically enhancing client returns.
The ability to move among "growth" and "value" companies of all sizes reduces style and capitalization risk. The same criteria are
used for growth and value companies but the results are weighted quite differently with the “growth” selections featuring large
companies with steady revenue and earnings growth but at reasonable valuations given their steady prospects and the value selections
being made in accordance with our AllCapValue Strategy.
We use quantitative screens and basic measures of value to help identify attractive candidates. Our analysis is top-down and bottom up
so that we do not myopically ignore either the big picture or company specific issues. We strive for, and have delivered, excellent
risk-adjusted returns.
A balanced version of the Growth and Value Blended strategy incorporates high quality and short/intermediate duration portfolios of either
taxable or tax exempt bonds and can include some preferred stocks, Treasury Inflation Protected Securities and other sensible income
generating and portfolio–value-protecting investments. We do not take much risk here because the returns of income generating portfolios
do not ordinarily justify it. However, lack of risk should not be confused with lack of creativity. We are very opportunistic, preferring
to shorten durations when rising rates are likely and the converse when falling rates are likely, adding as much value as we can. The
bonds provide an anchor to windward for the portfolio and also income for client’s needing it.
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