SGA Global Growth Strategy’s Q3 2025 Investor Letter

Sustainable Growth Advisers (SGA), an investment management company, released its third-quarter investor letter for its “Global Growth Strategy.” The portfolio returned -2.3% (Gross) and -2.5% (Net) in the third quarter, compared to a 7.6% return for the MSCI ACWI and a 9.0% return for the MSCI ACWI Growth. The index returns were fueled by enthusiasm for AI, whereas factors aligned with SGA’s strategy, like quality and sales stability, lagged. SGA’s investment objective is to invest in high-quality growth businesses expected to achieve consistent mid-teens earnings growth,...