Active Return

Martingale’s active return strategies seek to add value by emphasizing fundamentally undervalued companies while closely managing risk relative to the underlying market index. From large cap to microcap, we have decades of experience managing portfolios across the size spectrum, including core, growth and value mandates. We also offer several short-extension strategies (130/30) that allow for more meaningful underweighting of the least attractive stocks.

Large CapMartingale has considerable experience managing strategies relative to various large cap indexes, with the earliest strategies commencing in 1987.
Investment Process*These strategies emphasize fundamentally attractive companies. Stock selection is emphasized through a risk-aware portfolio construction process designed to provide consistent size and style exposure, while limiting sector and industry exposures.
StrategyBenchmarkInception
LargeCap CoreRussell 1000®
January 2006
LargeCap Core 500S&P 500® Index
January 2004
LargeCap Growth  Russell 1000® Growth Index 
July 2005
LargeCap Value Russell 1000® Value Index
January 2006
LargeCap Defensive Russell 1000® Defensive Index
January 2011
LargeCap DynamicRussell 1000® Dynamic Index
January 2011
Value Factor StrategyRussell 1000® Value IndexJanuary 2018
130/30 LargeCap Core 500S&P 500® IndexOctober 2004
Mid Cap Our time-tested approach is also well suited to managing mandates focused on the mid cap segment of the U.S. equity market, with the earliest strategies commencing in 1995.
Investment Process*  
These strategies emphasize fundamentally attractive companies. Stock selection is emphasized through a risk-aware portfolio construction process designed to provide consistent size and style exposure, while limiting sector and industry exposures.
StrategyBenchmarkInception
MidCap Core Russell Midcap® Index July 1995
Small CapOur time-tested approach is also well suited to managing mandates focused on the small cap segment of the U.S. equity market, with the earliest strategies commencing in the mid-1990s.
Investment Process*  These strategies emphasize fundamentally attractive companies. Stock selection is emphasized through a risk-aware portfolio construction process designed to provide consistent size and style exposure, while limiting sector and industry exposures.
StrategyBenchmarkInception
SmallCap CoreRussell 2000® IndexJuly 2003
SmallCap ValueRussell 2000® Value IndexJuly 1996
SmallCap DefensiveRussell 2000® Defensive IndexJuly 2011
SmallCap DynamicRussell 2000® Dynamic IndexJanuary 2017
MicroCapRussell Microcap® IndexJuly 2022
ESG  Certain responsible investing principles guide all our strategies: we value transparency, earnings quality and other indications of good corporate governance and sustainable business models. Building on decates of experience managing risk-aware portfolios, we found certain ESG metrics help predict future risk in a way that complements fundamental and statistical measures of company risk.
Investment Process*The strategy emphasizes companies with a lower carbon intensity exposure and other favorable ESG characteristics. It seeks to provide equity market exposure with a significantly lower carbon footprint—weighted average carbon intensity (WACI)—than the benchmark.
StrategyBenchmarkInception
Sustainable EquityS&P 500® IndexJuly 2021
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*Investment results are not guaranteed, and there is no guarantee that a strategy’s objective will be met. Investing in securities involves risk of loss of both income and principal that investors should be prepared to bear. Long/short investing can be riskier than long-only investing, since both the long and short sides can simultaneously lose value.