Portfolio managers at Procure 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. Only five years of average asset-weighted tenure among Procure's longest-tenured managers gives us pause. In isolation, seasoned teams tend to have more experience to draw upon should they need to navigate turbulent market conditions. Procure has exhibited 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.
Procure lags peer asset managers in a number of stewardship qualities, resulting in a Below Average Parent Pillar rating.