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iMGP Funds Sicav
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Individual
Non-investment professionals who are researching investments for their personal accounts (from small ISA investors through to “high net worth” individuals).
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Investment professionals who provide investment advice to their clients (“advice-givers”).
Institutional
Investment professionals who manage money on a discretionary basis on behalf of others (“money managers”) or who perform fund or manager research.
A global leader in quality growth equity and high yield credit investment strategies. Polen Capital had $54.1bn AUM at the end of March 2025.
Polen Capital is an independent asset manager with investment capabilities across asset classes and a global footprint, delivering active, high-conviction, and competitively advantaged growth equity, and high yield credit strategies.
iMGP US High Yield Fund
Nov 15, 2011
USD 6.6 mn
Bonds8+
The objective of this Sub-fund is to provide its investors with a long-term appreciation of their capital. It invests in a diversified bonds portfolio with at least two thirds of its net assets invested in high-yield debt securities or similar high-yield instruments denominated in USD and the issuer of which is rated lower than “investment grade” as defined by at least one of the main principal world rating agencies (Baa3 by Moody’s or its equivalent with any other of such rating agencies) or by the Sub-Manager’s internal credit process, or in instruments for which no rating has been awarded to the issuer. These securities will predominantly include high yield bonds (including, without limitation, unregistered (Rule 144A) notes, as well as floating and variable rate notes). The Fund is actively managed, and the Fund’s manager's discretionary powers are not constrained by the index.
iMGP US Small and Mid Company Growth Fund
Mar 28, 2012
USD 8.6 mn
Equity8+
The objective of this Sub-fund is to provide its investors with a long-term appreciation of their capital, principally by means of a focused portfolio of investments in high quality common stocks of small and medium companies of issuers of the United States of America. At least two thirds of the Sub-fund’s assets are invested at all times in equities and similar transferable securities issued by companies of medium or small stock market capitalization and having their registered office in the United States or operating predominantly in the United States. The Bloomberg US 2500 Growth Net Return Index is used, in the appropriate currency of a given Share Class of the Sub-fund, for comparison only, including for performance comparison. The Fund is actively managed, and the Fund’s manager's discretionary powers are not constrained by the index.
iMGP Indian Equity Fund
Dec 16, 2024
USD 0.5 mn
Equity8+
The objective of this Fund is to provide its investors with a long-term appreciation of their capital, principally by means of a focused and diversified portfolio of investments in equity securities and other similar instruments of Indian issuers. Equity securities and other similar instruments in which the Fund may invest include, but are not limited to, common and preferred stocks of companies of all sizes and sectors. The Fund will typically invest in 25 to 40 companies but may exceed this number depending on market conditions. The Sub-Manager employs an intensive high-conviction bottom-up approach in order to identify stocks of companies that it believes are of high quality with difficult-to-replicate competitive advantages. These will typically be companies with sustainable business models, robust balance sheets, proven management teams and clear alignment of interest between majority and minority shareholders.The Fund is actively managed, and the Fund’s manager's discretionary powers are not constrained by the index.
Founded in 1979 and based in Boca Raton (Florida, USA), Polen Capital is a global asset manager delivering growth equity and credit strategies to a wide range of clients. Polen offers distinctive growth equity and high yield fixed income solutions, building high conviction, concentrated, competitively advantaged, active portfolios with the potential to compound and outperform over the long-term. The firm has a distinctive culture and is committed to attracting, developing, and retaining exceptional professionals who are aligned with the firm’s mission of preserving and growing clients' assets to protect their present and enable their future.
Why should a client choose Polen Capital?
Founded in 1979, Polen Capital is a global investment manager that provides actively managed growth equity and high-yield credit strategies. Polen delivers distinctive growth and income solutions, building high-conviction, concentrated, competitively advantaged portfolios with the potential to compound and outperform over the long-term. The firm has a distinctive culture and is committed to attracting, developing, and retaining exceptional professionals who are aligned with the firm’s mission of preserving and growing clients’ assets to protect their present and enable their future.
Why active management?
Stephen Atkins CFA, Portfolio Manager, Strategist & Analyst at Polen Capital, explains why his firm believes in active management based on historical evidence over the past 20-30 years.
Polen Capital’s Investment Philosophy for China Equities
Jean Maunoury, Deputy CEO and CIO of Research and Investment at iM Global Partner, speaks with June Lui, Portfolio Manager & Analyst for Emerging Markets Growth at Polen Capital, about investment strategies in Chinese equities. June explains Polen Capital’s long-term, fundamentals-driven approach to investing in China, focusing on structural growth opportunities and high-quality companies rather than short-term market trends. She highlights the importance of being selective, emphasizing management quality, business models, and valuations. The discussion also covers the limitations of traditional Chinese equity benchmarks, often dominated by state-owned enterprises, and why Polen Capital avoids them in favor of independent research.
How Polen Capital’s Emerging Market teams collaborate effectively
In this conversation, Jean Maunoury, Deputy CEO and CIO of Research and Investment at iM Global Partner, speaks with June Lui, Portfolio Manager & Analyst for Emerging Markets Growth at Polen Capital, to explore how Polen Capital’s Emerging Market teams collaborate effectively.
Polen Global Growth Fund Overview
In this video, Damon Ficklin, Head of Team and Portfolio Manager at Polen Capital and Lead Portfolio Manager for the Global Growth Strategy, outlines the firm’s disciplined investment philosophy centered on three key advantages: portfolio concentration, long-term holding periods, and rigorous risk management. He explains how Polen Capital focuses on selecting 20 to 30 of the world’s highest-quality growth companies, leveraging a long-term investment horizon to let fundamentals drive returns rather than market timing. The investment process uses five guardrails, high return on equity, strong earnings and free cash flow growth, solid balance sheets, improving margins, and organic revenue growth, to filter a broad universe down to about 100–150 best-in-class businesses, while excluding cyclical and competitively weak firms. ESG factors are fully integrated into their analysis, ensuring companies manage risks and capture opportunities. This methodical approach has delivered consistent performance over decades and remains central to Polen Capital’s mission of protecting and growing client capital.
Investment Capabilities
Polen Capital offers best-in-class investment solutions across four key asset classes:
US and Global Large Cap Growth, Small Cap Growth, and Emerging Markets Growth for Equities, as well as US and European Credit, each led by specialized teams with deep domain expertise.
Polen China Growth
Capturing Quality Growth in the Heart of Emerging Markets
Polen Emerging Markets Growth
Long-Term Growth Through High-Conviction Emerging Market Investing
Polen European High Yield
A high-conviction, research-backed approach to high yield
Polen Focus Growth
A concentrated portfolio of exceptionally advantaged US businesses compounding value over the long-term.
Polen Global Growth
Focused global investing built on quality, consistency, and sustainable long term growth.
Polen US Opportunistic High Yield
Through fundamental research, we seek to identify mispriced securities with an embedded margin of safety to build concentrated, yield advantaged, portfolios.
