Financial Advisors / Independent Broker Dealers / RIA: 877-500-2388
Institutional Clients: 800-766-3863, Option 2 or institutional@rsinvestments.com
"The Case for High Conviction Investing"
Authored by RS Investments, this White Paper presents the academic and empirical evidence supporting a high conviction, low turnover investment approach to managing equities.
Key benefits of a high conviction, low turnover approach cited in this paper include:
- Potential for improved risk-adjusted returns
- Ability of portfolio managers to develop an intimate knowledge of the companies in which they invest
- The impact of top performing stocks on portfolio performance
- Achievement of portfolio diversification with as few as 20 holdings
"Institutional Real Asset Strategies: Part I"
In part one of this two part series exploring investing in real asset strategies, co-authors MacKenzie Davis and Ken Settles examine how changing global economic fundamentals have altered the following key drivers of return in passive commodity strategies: spot price, roll yield, and collateral. The paper covers the historical rationale for an investment in commodities and how an investment in natural resources could be equally complementary in providing:
- Diversification
- Inflation protection
- Potential for improved returns
"Institutional Real Asset Strategies: Part II"
In part two of this two part series exploring investing in real asset strategies, co-authors MacKenzie Davis and Ken Settles examine an investor's options for investing in real assets through Private Equity and Public Equity strategies. The paper particularly focuses on the characteristics that differentiate private equity investors and public equity investors in natural resource companies and what the benefits to be derived from a private equity investment approach in the public markets are. Key points addressed are:
- The advantages of an equities approach to investing in real assets
- How investors can access unique sources of returns
- How public equity strategies and private equity strategies can prove to be complementary
"Extracting Value from Natural Resources"
Authored by MacKenzie Davis and Ken Settles, co-portfolio managers of RS Global Natural Resources Fund, RS Global Natural Resources Long/Short Equity Strategy, and related institutional composites, this White Paper discusses the value in resource-related stocks and their role over the next decade. This paper will address the following questions:
- Where are we in commodity price cycles?
- What is the outlook for natural resources?
- Why invest in natural resources?
- What are the potential benefits of investing in actively managed, value-oriented fundamental equity strategy versus other natural resource investment vehicles?
"ROIC: The Essential Measure of Value"
View Fund Version PDF (requires password)
View Composite Version PDF (requires password)
Authored by the RS Value Team, this White Paper discusses the key tenet of the Team's investment philosophy - the significant correlation between a company's improving returns on invested capital and its stock performance over longer periods of time. The paper covers the following topics:
- The correlation between improving ROIC and company performance
- Calculating ROIC and understanding its value
- Management mind-set and capital allocation decisions
- Finding companies with improving ROIC
- Putting theory into practice: RS Investments' Value Process
- ROIC in action: how a change in leadership can signal ROIC improvements
"The New Face of Technology"
This Research Paper explores the changing profile of technology companies and some of the innovations that have occurred in the sector since the earlier part of the decade. This paper will address the following questions:
- How have Technology companies evolved during the last ten years and what are the implications of these changes?
- Where does Technology stand following the sector's run in 2009?
- Where are the long-term growth opportunities in Technology?
- What innovations could provide the catalysts for the Technology sector?