San Francisco, CA
– Bay Bridge

Investment Strategy

U.S. Growth Equity


Opportunity & Philosophy

The objective of our U.S. Growth Equity strategies is to construct portfolios of high-growth stocks, using strict risk controls. Our fundamental analysis seeks to identify inefficiencies related to the under-reaction of stock prices to new information. We combine this fundamental analysis with well-defined risk management parameters to produce consistent and sustainable alpha.

Mike Ashton, our portfolio manager, developed this strategy after spending over 10 years analyzing growth companies and managing growth stock portfolios. The unique process that Mike has developed is less likely to underperform at inflection points in the market than traditional high-growth investment strategies.


Investment Strategy

Our goal is to take the basic tenets of growth stock investing – the use of fundamental research to analyze companies with outstanding growth prospects – and improve outcomes by reducing unwanted volatility. We achieve this by taking a proactive approach to risk management and seek to convert alpha into realized gains as the risk/reward profiles of our holdings change and before high volatility events, such as changes in fundamentals, occur.

Each of our portfolio holdings fulfills a specific role: either alpha generation or risk management. When we identify a relatively large number of attractively priced, fundamentally strong companies with above average earnings prospects, we will assume more risk to take advantage of these opportunities. However, when conditions change and there are fewer opportunities to generate alpha, risk management holdings will play a more dominant role – leading us to be positioned closer to the benchmark and reducing volatility.


Products Offered

U.S. Small Cap Growth Strategy

The U.S. Small Cap Growth strategy invests in growth companies with market capitalizations in the range of the Russell 2000 Growth Index. Individual portfolios will hold between 50 – 90 positions.

This strategy is currently offered through separately managed accounts or sub-advisory arrangements.


U.S. Large Cap Growth Strategy

The U.S. Large Cap Growth strategy invests in growth companies with market capitalizations in the range of the Russell 1000 Growth Index. Individual portfolios will hold between 35 – 65 positions.

This strategy is currently offered through separately managed accounts or sub-advisory arrangements.


Investment Team

Mike Ashton, CFA

Portfolio Manager

Mike joined Pacific View in July 2013 as the Portfolio Manager and head of Pacific View’s U.S. Growth Equity team. Mike has 18 years of industry experience.

Mike’s investment career began in 1999 at Deutsche Bank Alex. Brown, as an Associate in the Venture Capital Services Group, focusing on venture capital clients engaged in public equity market transactions. In 2006, Mike joined Insight Capital Research and Management. While at Insight, he served as an Equity Analyst (2006 – 2010) for the firm’s Small Cap Growth, SMid Cap Growth, All Cap Growth and Concentrated Growth strategies, as a Portfolio Manager (2010 – 2013) for the firm’s Small Cap Growth, SMid Cap Growth, and Concentrated Growth strategies, and as Portfolio Manager (2009 – 2013) for the firm’s Large Cap Growth Strategy. In addition, Mike also served on Insight’s Investment Committee and Management Committee.

Mike completed a Bachelor of Arts in Philosophy from Bucknell University in 1997 and a Master of Business Administration from the University of California, Berkeley in 2005. Mike is a CFA charterholder.

Leanne Karns, CFA

Senior Analyst

Leanne joined Pacific View in June 2016 as the Senior Analyst on the U.S. Growth Equity team.

Leanne’s investment career began in 2000 in the Private Equity Group of March & McLennan. In 2007, Leanne joined Polestar Capital as an equity analyst. In 2010, Leanne joined Cannell Capital, a small-cap hedge fund.

Leanne completed a Bachelor of Science in Mathematics and Economics from the University of Illinois in 1993 and a Master of Business Administration from the University of California, Los Angeles in 2000. Leanne is a CFA Charterholder.

Thomas Tatum

Equity Analyst

Thomas joined Pacific View in June 2016 as an Equity Analyst on the U.S. Growth Equity team.

Prior to joining Pacific View, he served in various investment management roles at Balyasny Asset Management, Medley Management, Inc., and most recently, White Oak Global Advisors, LLC.

Thomas received a Bachelor of Science in Commerce in Accounting from the Leavey School of Business in 2013 and a Bachelor of Science in Political Science from the College of Arts & Sciences at Santa Clara University in 2013.