OUR STRATEGIES | WILLIAM BLAIR INTERNATIONAL LEADERS ADR STRATEGY

GLOBAL EQUITY

William Blair International Leaders ADR Strategy

Diversifying a Portfolio by Growth Stages

Companies at different stages of the corporate lifecycle exhibit different risks and return characteristics, providing an opportunity to further diversify a portfolio.

KEY FEATURES AND POTENTIAL BENEFITS

High-Conviction Ideas

High conviction international portfolio of 30-60 companies. Leaders are companies that we believe demonstrate consistent value creation, competitive dominance, and sustainability of critical inputs.

Unconstrained Portfolio

Broad investment universe across market cap, region, industry, and corporate lifecycle.

Disciplined Investment Approach

Combines deep fundamental research with systematic inputs to consistently identify alpha opportunities.

View All Our Strategies

VIEW ALL STRATEGIES

Featured Blog Posts

June 6, 2023

Global Equity

The Case for Semiconductors

Greg Scolaro, CFA

Semiconductor stocks have outperformed all other industry groups for the past decade, and we see scope for continued...

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May 31, 2023

Global Equity

Understanding China: Economic System

Evelyn Kong, CFA

China’s share of global gross domestic product (GDP) shrank to just 5% in 1978, but a series of...

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May 24, 2023

U.S. Equity

Regional Bank Update

Greg J. Czarnecki

When any turmoil arises, as it has in the banking sector this year, we begin our analysis with...

Read post

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Glossary

INDICES
The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid ARM pass-throughs), asset-backed securities, and commercial mortgage backed securities.

The MSCI ACWI IMI Index is a free float-adjusted, market capitalization-weighted index that captures large, mid, and small cap representation across developed and emerging markets.

The MSCI ACWI ex-US IMI Index is a free float-adjusted, market capitalization-weighted index that captures large, mid, and small cap representation across developed and emerging markets, excluding the U.S. The Value and Growth Indices are a subset of the Index that adopt a framework for style segmentation in which value and growth securities are characterized using different attributes. Multiple factors are used to identify value and growth characteristics.

The MSCI ACWI Small Cap Index is a free float-adjusted, market capitalization-weighted index that captures small cap representation across developed and emerging markets.

The MSCI Emerging Markets Index is a free float-adjusted, market capitalization-weighted index that is designed to measure the equity market performance of emerging markets.

The MSCI World Index is a free float-adjusted, market capitalization-weighted index that is designed to measure the equity market performance of developed markets.

The Russell 2000 Index is a market capitalization-weighted index designed to represent the small cap segment of the U.S. equity universe.

Index performance is for illustrative purposes only. The indices are unmanaged, do not incur fees or expenses, and cannot be invested in directly.

TERMS
Alpha is a measure of an investment’s return in excess of the market’s return, after both have been adjusted for risk.

Beta is a measure of the volatility of an investment relative to the overall market, represented by a comparable benchmark.

Half-life is a statistical measure of the time required for the discrepancy between price and value to contract by half of its starting value. Fundamental value estimates are based on the Dynamic Allocation Strategies team’s proprietary research.

P/E Ratio is a measure of valuation which compares share price to earnings per share, calculated using estimates for the next twelve months.

Standard deviation is a statistical measurement of variations from the average.

QUANTITATIVE MODELS – FACTOR DEFINITIONS
The William Blair Earnings Trend Model captures information about short- and medium-term changes in analyst estimates in an attempt to anticipate future estimate changes and stock performance. The score combines measurements of earnings revisions, momentum, and earnings surprise.

The William Blair Valuation Model combines varying metrics used to characterize the relationship between the stock’s trading price and its intrinsic value. By going beyond using only one or two measures, the model attempts to build a more holistic version of a stock’s worth vis-a-vis the market. The score combines measurements of earnings/cash flow based, asset-based, and model-based factors.

FEATURED TOPICS

U.S. EQUITY

GLOBAL EQUITY

EMERGING MARKETS DEBT

William Blair International Leaders ADR Strategy