--- title: Polen Capital Reports 2Q 2016 Performance description: Polen Capital's Growth Fund team explains why portfolio under-performs S&P and Russell indices in 2Q 2016. 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[< Back to read another post](https://www.letsassemble.com/wealth-management-blog) # Polen Capital Reports 2Q 2016 Performance Posted by [ WrapManager's Investment Policy Committee](https://www.letsassemble.com/wealth-management-blog/author/wrapmanagers-investment-policy-committee) August 23, 2016 - [Tweet](https://twitter.com/share) [![Polen_Market_Commentary ](http://www.wrapmanager.com/hubfs/MM_Logo_Images/Polen_Market_Commentary-V2.png "Polen_Market_Commentary ")](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Polen-Focus-Growth-Commentary-2Q-July-2016.pdf) ## *We have a clear investment discipline and a clear compass...* After delivering a strong first quarter performance, Polen Capital Management's Focus Growth Portfolio returned -2.62% gross of fees in second quarter 2016. The Russell 1000 Growth and S&P 500 indicies returned 0.61% and 2.46% respectively. Read on for an excerpt of Polen Capital's 2Q 2016 commentary, or [view the entire document here](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Polen-Focus-Growth-Commentary-2Q-July-2016.pdf). **Summary:** 1. The market has been basically flat for the past year and a half now with periodic bouts of volatility (swoons and recoveries). Given the strong preceding returns that followed the financial crisis and greatly outpaced the underlying earnings growth during that period, we are not surprised to see the market going sideways and consolidating a bit. 2. We believe that most investors’ approach is to create returns through their activity. We take great comfort in the fact that we are not trying to time the market or speculate in any way and we hope that you do too. 3. We think it is important to realize that short‐term market movements tell you a lot more about what people are thinking and what they are doing to create returns than what the underlying fundamentals support or what is actually going to produce the best return over time. 4. Although it has been a more macro‐driven environment since the financial crisis, which is not the best environment for our fundamentally driven strategy, we have managed to outperform by owning the best growth companies for the long‐term. [Read the complete commentary here](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Polen-Focus-Growth-Commentary-2Q-July-2016.pdf). Revisit [Polen Capital's 1Q 2016 report](http://www.wrapmanager.com/wealth-management-blog/polen-capital-large-cap-growth-fund), or read [Motley Fool's review of Polen Capital's performance.](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Motley-Fool-Polen-Fund-Commentary-July-2016.pdf) To learn more about [Polen Capital](http://www.wrapmanager.com/money-manager-research/polen_capital_management) and other Money Managers, give us a call at [1-800-541-7774](http://www.wrapmanager.com/wealth-management-blog/wells-fargo-advisors-lack-of-dovish-action-leaves-investors-cold/tel:+18005417774) or [contact us here](https://www.wrapmanager.com/contact) to speak with one of WrapManager's Wealth Managers.   [Download Full Commmentary Here](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Polen-Focus-Growth-Commentary-2Q-July-2016.pdf) [Get Free Research Reports about Polen Capital](http://www.wrapmanager.com/money-manager-research/polen_capital_management)   [Investment Plan](https://www.letsassemble.com/wealth-management-blog/topic/investment-plan) [Portfolio Strategy](https://www.letsassemble.com/wealth-management-blog/topic/portfolio-strategy) [Polen Capital Management](https://www.letsassemble.com/wealth-management-blog/topic/polen-capital-management) [![get money manager picks](https://no-cache.hubspot.com/cta/default/10700/d72d98dd-a24b-41d8-9276-e1648f3b09d3.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/d72d98dd-a24b-41d8-9276-e1648f3b09d3) ### Subscribe to Updates [Subscribe to RSS Feed](https://www.letsassemble.com/wealth-management-blog/rss.xml) [![New Call-to-action](https://no-cache.hubspot.com/cta/default/10700/ffe2a394-957b-481b-9f80-4ef176bd6aaf.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/ffe2a394-957b-481b-9f80-4ef176bd6aaf) ### Most Recently Published ### Blog Authors [![Gabriel Burczyk](http://www.wrapmanager.com/hs-fs/hub/10700/file-2347381761-jpg/Athors_Avatars/Gabe-avatar.jpg "Gabriel Burczyk")](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [**Gabriel Burczyk,**](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [Founder & CEO](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [![Valerie De Vol](http://www.wrapmanager.com/hs-fs/hub/10700/file-2457588837-jpg/Athors_Avatars/Valerie-De-Vol-avatar.jpg "Valerie De Vol")](http://www.wrapmanager.com/wealth-management-blog/author/valerie-de-vol) [**Valerie De Vol, **IACCP® Chief Operating Officer](http://www.wrapmanager.com/wealth-management-blog/author/valerie-de-vol) [![Seton-avatar.jpg](http://www.wrapmanager.com/hs-fs/hub/10700/file-2344519198-jpg/Athors_Avatars/Seton-avatar.jpg "Seton-avatar.jpg")](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews) [**Seton McAndrews, **CFP® ](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews)[Vice President - Investments](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews) [![Doug Hutchinson](http://www.wrapmanager.com/hs-fs/hub/10700/file-2347381751-jpg/Athors_Avatars/Doug-avatar.jpg "Doug Hutchinson")](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) **[Doug Hutchinson,](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) **[CFA® ](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson)[Director of Research and Trading](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) ![Katie - square.png](https://www.wrapmanager.com/hubfs/Katie%20-%20square.png "Katie - square.png") [**Katie O'Connor **Director of Client Services](https://www.wrapmanager.com/wealth-management-advisors/katie-oconnor) **Important Disclosure Concerning WrapManager Blogs** Blogs found at this site have been created or supported by WrapManager. 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