Portfolio managers at Formidable tend not to invest alongside their shareholders, detracting from the overall stewardship assessment. None of the firm’s assets are covered by an invested manager. Formidable's longest-tenured managers do not possess the same experience as management teams at other firms, a detractor from its rating. Specifically, average asset-weighted tenure within the firm is only three years. Formidable has presented a reliable and stable portfolio management culture since the firm's inception, as evidenced by lower-than-average turnover, strengthening the assessment of the firm's stewardship.
Formidable lags peer asset managers in a number of stewardship qualities, resulting in a Below Average Parent Pillar rating.