Off to a promising start. The strategy lost both of its previous comanagers in 2024, their departures occurring independently. They were succeeded by lead manager Ibrahim Kanan, alongside comanagers Sam Console and Sally Du. The investment process has continued to evolve, with the new management team implementing further changes that appear promising but warrant further monitoring. Given the highly competitive nature of the US equity market, it is too soon to determine whether the team enjoys a lasting advantage. As a result, the People and Process ratings remain at Average.