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Millennials

Millennials

Approach


Our Millennials strategy is actively managed and invests across regions, sectors and market caps to effectively capture the widespread impact of the Millennial generation. We carefully evaluate the quality of each business and invest at a reasonable valuation in order to give our clients thoughtful exposure to this powerful, secular growth theme and generate wealth over the long-term. Three areas where we identify compelling investment opportunities as a result of the Millennial effect are:

Technology Ecosystems
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While the smartphone hardware market itself is starting to show signs of saturation, the ecosystem tied to smartphones is thriving. This includes Millennial-targeted advertising and marketing, storage and data services, mobile technology and big data.

Changing Consumption Patterns
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Millennials have distinct consumption preferences that favor specific sectors such as e-commerce, fast fashion, and sharing-economy tourism.

Health and Wellness
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Millennials are focused on fitness, which favors sectors such as wearables and digital fitness, athletic apparel and organic food and products.

Benefits


Thematic exposure

We appreciate the impact that the Millennial generation will have on businesses and we have built an extensive universe of stocks which have significant exposure to the behavioral habits of this generation. These are companies that are aligning their business models to service Millennials and can adapt to evolving trends.

 

Global reach

Our local insights and global connectivity position us well to identify companies that can potentially benefit from the impact of Millennials. We manage our portfolios using a team based approach and take advantage of our broad GSAM platform in offices across the globe.

Rigorous fundamental research

We focus on identifying high-quality companies with sustainable competitive advantages and strong management teams with a history of high returns on invested capital. Our process integrates local insights at the stock level with centralized coordination at the portfolio level. We prefer companies that represent reasonable value and will prove to be resilient across market cycles.

 

Multifaceted risk management

We employ a comprehensive approach to risk management and work with the Fundamental Equity team’s Chief Risk Officer to scrutinize portfolio risks, avoid unintended factor bets and work towards our goal of generating excess returns through stock selection. We see benefit from the robust resources of independent Goldman Sachs Asset Management and firmwide risk management teams.