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Epoch Investment Partners

Eric Sappenfield on Barron’s Income Roundtable

Portfolio Manager Eric Sappenfield participated in the Barron's Income Roundtable, discussing the market backdrop for dividend paying stocks and highlighted some companies that the Shareholder Yield strategy favors.

Read the Article >

Eric Sappenfield on Barron’s Income Roundtable

Bill Priest Appears on BNN’s Money Talk

Epoch CEO and Co-CIO Bill Priest was interviewed by Kim Parlee about global growth, Brexit and his newly released book Winning at Active Management, which was co-authored by Epoch portfolio managers Steve Bleiberg and Mike Welhoelter. 

PART I: Active vs. Passive Investing >

PART II: The Ongoing Impact of Brexit >

PART III: The New Reality for Mature Economies >

Bill Priest Appears on BNN’s Money Talk

The Capital Reinvestment Strategy

Return on Invested Capital (ROIC) is a crucial metric in evaluating companies, yet investors pay more attention to growth in earnings, which can be misleading. Our latest whitepaper discusses the Capital Reinvestment Strategy which focuses on companies that use their free cash flow to reinvest and acquire, and in doing so have a persistently high level of ROIC well in excess of their weighted average cost of capital.  

The Capital Reinvestment Strategy
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We are global equity investors with a distinct perspective on the long-term drivers of shareholder return.

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OUR INSIGHTS

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Advantage from Perspective

Long-term investment success demands a focus on essential truths that are not always obvious. We focus on investing in companies with the enduring elements that create value: free cash flow and managements committed to providing positive returns to shareholders. Like the companies in which we invest, we are committed to transparency. This includes sharing our global market perspectives and insights that help drive our investment decisions.

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OUR INVESTMENT PHILOSOPHY

Investors often view a company through the prism of accounting measures such as price-to-book value and price-to-earnings ratios. Epoch adopts a different approach. Earnings growth and dividends drive shareholder returns, and they come from a single source: cash flow. We focus on companies that are growing free cash flow and allocating it intelligently.

Reinvesting cash flows in internal projects or acquisitions is preferred when those actions will generate returns above the cost of capital. Otherwise, we believe company managements should return excess cash to shareholders through dividends, share buybacks or debt repayments -- collectively known as "shareholder yield."

Learn more >

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IN THE NEWS

Eric Sappenfield on Barron’s Income Roundtable

Portfolio Manager Eric Sappenfield participated in the Barron's Income Roundtable, discussing the market backdrop for dividend paying stocks and highlighted some companies that the Shareholder Yield strategy favors.

Read the Article >

See More >

Bill Priest Appears on BNN’s Money Talk

Epoch CEO and Co-CIO Bill Priest was interviewed by Kim Parlee about global growth, Brexit and his newly released book Winning at Active Management, which was co-authored by Epoch portfolio managers Steve Bleiberg and Mike Welhoelter. 

PART I: Active vs. Passive Investing >

PART II: The Ongoing Impact of Brexit >

PART III: The New Reality for Mature Economies >

See More >

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