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Investment Approach

The Sophus China strategy seeks to provide long-term growth of capital by investing primarily in equity securities of Chinese companies.

Philosophy and Process

Sophus Capital believes that equity markets reward earnings growth during most market environments. The strategy’s investment team employs both fundamental analysis and quantitative screening in seeking to identify companies that the investment team believes can sustain above-average earnings growth relative to their peers. Fundamental, bottom-up research focuses on companies that rank highly within the investment team’s quantitative screen, with particular emphasis placed on a company’s earnings growth, business strategy, value creation, competitive position, management quality, market position, and political and economic backdrop. The investment team monitors market and sovereign risk as part of the overall investment process.

Mike Reynal

Michael Reynal is Chief Investment Officer of Sophus Capital and a portfolio manager of Victory Sophus Emerging Markets Fund, Victory Sophus Emerging Markets Small Cap Fund and Victory Sophus China Fund. The RS Investments Emerging Markets team was renamed Sophus Capital in July 2016 when RS Investments was acquired by Victory Capital. Sophus Capital is a Victory Capital investment franchise.

Mr. Reynal began his investment career in 1991 managing equity investments in Latin America, the Mediterranean, the Balkans and other regions. Most recently he was a portfolio manager for Principal Global Investors, where he led the emerging markets team. He also oversaw diversified emerging markets portfolios and specialized regional Asian equity strategies.

Mr. Reynal holds a B.A. from Middlebury College, an M.A. from Christ's College at the University of Cambridge and an MBA from the Amos Tuck School at Dartmouth College.


Michael Ade

Michael Ade is a portfolio manager of the Victory Sophus Emerging Markets Fund, Victory Sophus Emerging Markets Small Cap Fund and Victory Sophus China Fund and member of the Sophus Capital Emerging Markets team. The RS Investments Emerging Markets team was renamed Sophus Capital in July 2016 when RS Investments was acquired by Victory Capital. Sophus Capital is a Victory Capital investment franchise.

Mr. Ade began his investment career in 2001 and was a co-portfolio manager for diversified emerging markets and Asian equity strategies at Principal Global Investors prior to joining Sophus Capital.

Mr. Ade earned a B.A. from the University of Wisconsin. He is a CFA® charterholder.

Tony Chu

Tony Chu is a portfolio manager of the Victory Sophus China Fund and member of the Sophus Capital Emerging Markets team. The RS Investments Emerging Markets team was renamed Sophus Capital in July 2016 when RS Investments was acquired by Victory Capital. Sophus Capital is a Victory Capital investment franchise.

Mr. Chu began his investment career in 2002 and worked as an equities research analyst and associate portfolio manager at Principal Global Investors and INVESCO Hong Kong before joining Sophus Capital.

Mr. Chu earned a B.A. from the University of Queensland and an M.A. from the University of New South Wales. He is a CFA® charterholder.

Maria Freund

Maria Freund is a portfolio manager of the Victory Sophus Emerging Markets Small Cap Fund and member of the Sophus Capital Emerging Markets team. The RS Investments Emerging Markets team was renamed Sophus Capital in July 2016 when RS Investments was acquired by Victory Capital. Sophus Capital is a Victory Capital investment franchise.

Ms. Freund began her investment career in 2003 and worked as an analyst at Principal Global Investors before joining Sophus Capital in 2012.

Ms. Freund received a B.A. from Loras College in finance and international business and an MBA from the Tippie College of Business at the University of Iowa. She is a CFA® charterholder.

Investment Approach

The Sophus China strategy seeks to provide long-term growth of capital by investing primarily in equity securities of Chinese companies.

Philosophy and Process

Sophus Capital believes that equity markets reward earnings growth during most market environments. The strategy’s investment team employs both fundamental analysis and quantitative screening in seeking to identify companies that the investment team believes can sustain above-average earnings growth relative to their peers. Fundamental, bottom-up research focuses on companies that rank highly within the investment team’s quantitative screen, with particular emphasis placed on a company’s earnings growth, business strategy, value creation, competitive position, management quality, market position, and political and economic backdrop. The investment team monitors market and sovereign risk as part of the overall investment process.

Michael Ade, CFA

Portfolio Manager

Michael Ade is a portfolio manager of the Victory Sophus Emerging Markets Fund, Victory Sophus Emerging Markets Small Cap Fund and Victory Sophus China Fund and member of the Sophus Capital Emerging Markets team. The RS Investments Emerging Markets team was renamed Sophus Capital in July 2016 when RS Investments was acquired by Victory Capital. Sophus Capital is a Victory Capital investment franchise.

Mr. Ade began his investment career in 2001 and was a co-portfolio manager for diversified emerging markets and Asian equity strategies at Principal Global Investors prior to joining Sophus Capital.

Mr. Ade earned a B.A. from the University of Wisconsin. He is a CFA® charterholder.

Tony Chu, CFA

Portfolio Manager

Tony Chu is a portfolio manager of the Victory Sophus China Fund and member of the Sophus Capital Emerging Markets team. The RS Investments Emerging Markets team was renamed Sophus Capital in July 2016 when RS Investments was acquired by Victory Capital. Sophus Capital is a Victory Capital investment franchise.

Mr. Chu began his investment career in 2002 and worked as an equities research analyst and associate portfolio manager at Principal Global Investors and INVESCO Hong Kong before joining Sophus Capital.

Mr. Chu earned a B.A. from the University of Queensland and an M.A. from the University of New South Wales. He is a CFA® charterholder.

Maria Freund, CFA

Portfolio Manager

Maria Freund is a portfolio manager of the Victory Sophus Emerging Markets Small Cap Fund and member of the Sophus Capital Emerging Markets team. The RS Investments Emerging Markets team was renamed Sophus Capital in July 2016 when RS Investments was acquired by Victory Capital. Sophus Capital is a Victory Capital investment franchise.

Ms. Freund began her investment career in 2003 and worked as an analyst at Principal Global Investors before joining Sophus Capital in 2012.

Ms. Freund received a B.A. from Loras College in finance and international business and an MBA from the Tippie College of Business at the University of Iowa. She is a CFA® charterholder.