The firm retains its Above Average Parent rating.
Polen's 11-person large-cap growth team that supports its flagship U.S. Focus Growth strategy--and its international and global versions--is impressive. This group's managers are some of Polen's longest-tenured employees and invest heavily alongside investors. Multiple managers serve on these products, reducing key-person risk, and turnover on this group has been low. The firm's other equity teams are newer but well-resourced, and their managers invest considerably in their products.
In March 2023, the firm acquired LGM's emerging-markets equities team from Columbia Threadneedle. This could bolster Polen's existing emerging-markets crew, which itself included a few ex-LGM members, but it's uncertain how the two groups will integrate. In December 2021, Polen acquired the high-yield credit boutique DDJ Capital Management and rebranded it Polen Capital Credit. This could provide diversification possibilities for the firm, but Polen hasn't managed fixed-income products before. Even with some uncertainty around these acquisitions, Polen's track record with its existing franchises provides comfort. Fees across the lineup could be lower, but the firm has largely been a sensible steward of client assets.