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This a core US large cap growth fund run on the same basis as the Rowe Price Blue Chip Growth US Mutual Fund, which is also managed by Puglia (since 1993). The fund focuses on companies that potentially offer sustainable earnings/cash flow growth, combined with quality buisness models that are easily understood. Historically these qualities have resulted in the fund trading at a 10% premium to the S&P by most growth measures. Proprietary fundamental research is central to the investment process. Careful attention is also paid to risk management at the stock level through sensible diversification and valuation discipline, to ensure the portfolio is not dominated by expensive or volatile positions.