High Quality Calvert Equity

STRATEGY HIGHLIGHTS

We seek to invest in companies with a demonstrated history of consistent growth and stability in earnings in an effort to outperform over the long term by participating in rising markets and minimizing participation in declining markets. The strategy is managed with a fundamental, bottom up process, seeking to identify high quality growth businesses that operate in a manner consistent with the Principles for Responsible Investment of Calvert Research and Management.


Key Stats

Asset Class: Large Cap Equity
Primary Index: Russell 1000® Growth
Inception Date: October 1, 1998
Strategy Assets: $8.1 bn
Holdings Range: 40 - 50
Mkt. Cap at Purchase: >$3 bn
Max Position Sizes: 5%
Sector Constraint: 30%
Max Cash: 5%
3-Yr Avg. Turnover: 8%

DOWNSIDE PARTICIPATION

77%

Downside Capture
Since Inception

CALVERT ESG PARTNERSHIP

25 Yrs

Track Record

LOWER THAN MARKET VOLATILITY

0.79

Beta Since Inception


PERFORMANCE ANALYSIS

Investment Performance (%)

as of December 31, 2023

   Quarter    1 Yr  3 Yr  5 Yr  10 Yr Since Inception
High Quality Calvert Equity (Gross) 13.08 19.16 8.81 17.43 13.97 11.71
High Quality Calvert Equity (Net) 12.86 18.23 7.95 16.51 13.08 10.83
Russell 1000® Growth Index 14.16 42.68 8.86 19.50 14.86   8.73

Periods greater than one year are annualized. Composite inception date 10/1/98. Composite data is based upon all discretionary institutional accounts eligible for inclusion in the Composite for the periods shown. Performance is calculated in US dollars and reflects the reinvestment of all income and capital gains. Net of fee returns reflect the deduction of the highest applicable annual management fee of 0.80%, applied monthly.

GIPS DISCLOSURE


Up, Down, Cumulative Market Capture (%)

October 1, 1998 - December 31, 2023
Net of Fees

Annualized. Up-Down Market Capture measures composite performance (net of fees) relative to index during periods when index has risen / fallen.  Source: eVestment.


PORTFOLIO CHARACTERISTICS

Sector Diversification (%)

as of December 31, 2023

  High Quality Calvert Equity Russell 1000® Growth Index Over/Under
Communication Services 5.6 11.4 -5.8
Consumer Discretionary 8.3 15.8 -7.5
Consumer Staples 4.7 4.1 0.6
Energy 0.0 0.5 -0.5
Financials 23.5 6.4 17.1
Health Care 16.4 10.6 5.8
Industrials 8.7 5.9 2.8
Information Technology 21.0 43.5 -22.5
Materials 8.0 0.7 7.3
Real Estate 3.9 0.9 3.0
Utilities 0.0 0.1 -0.1

Sector Diversification and Top Ten Holdings are based on the equity-only assets of a representative client portfolio managed according to this strategy.  Sources: Atlanta Capital, eVestment, FactSet. 


Sector Diversification (%)

as of December 31, 2023


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Top Ten Holdings

(%) of representative portfolio

 

Visa CL A 4.8
Mastercard CL A 4.7
Thermo Fisher Scientific 4.7
Microsoft Corporation 4.7
Danaher Corporation 4.6
Alphabet CL C 4.5
Zoetis CL A  3.7
Intuit 3.7
TJX Companies 3.6
S&P Global 3.5
TOTAL 42.5%

PORTFOLIO MANAGEMENT

Joe Hudepohl, CFA

Joe Hudepohl, CFA

Portfolio Manager

SEE BIO
Rob Walton, CFA

Rob Walton, CFA

Portfolio Manager

SEE BIO
Lance Garrison, CFA

Lance Garrison, CFA

Portfolio Manager

SEE BIO
Jeff Miller, CFA

Jeff Miller, CFA

Portfolio Manager

SEE BIO

STRATEGY DOCUMENTS

Fact Sheet

High Quality Calvert Equity

December 31, 2023
Read More

Investment Commentary

High Quality Calvert Equity

December 31, 2023
Read More

Risk Considerations:

Equity: The value of investments held by the Strategy may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility.

The views and opinions are those of the author as of the date of publication and are subject to change at any time due to market or economic conditions and may not necessarily come to pass. The views expressed do not reflect the opinions of all investment personnel at Morgan Stanley Investment Management (MSIM) and its subsidiaries and affiliates (collectively the Firm”), and may not be reflected in all the strategies and products that the Firm offers.

This material is for the benefit of persons whom the Firm reasonably believes it is permitted to communicate to and should not be forwarded to any other person without the consent of the Firm. It is not addressed to any other person and may not be used by them for any purpose whatsoever. It expresses no views as to the suitability of the investments described herein to the individual circumstances of any recipient or otherwise. It is the responsibility of every person reading this material to fully observe the laws of any relevant country, including obtaining any governmental or other consent which may be required or observing any other formality which needs to be observed in that country. Unless otherwise stated, returns and market values contained herein are presented in U.S. dollars.

This material is a general communication, which is not impartial, is for informational and educational purposes only, not a recommendation to purchase or sell specific securities, or to adopt any particular investment strategy. Information does not address financial objectives, situation or specific needs of individual investors.

Any charts and graphs provided are for illustrative purposes only. Any performance quoted represents past performance. Past performance does not guarantee future results. All investments involve risks, including the possible loss of principal.

Prior to making any investment decision, investors should carefully review the strategy’s relevant offering document. For the complete content and important disclosures, refer to the GIPS Disclosure link on this page.

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