Michael Orndorff- American Century Investments

Manager favours companies with accelerating growth.

Michael Ryval 15 November, 2013 | 7:00PM
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A bottom-up investor, Michael Orndorff uses quantitative screens to find companies that have accelerating rates of revenue and earnings growth.

"We are not absolute-growth-oriented managers, but improving-rates-of-growth managers," says Orndorff, co-manager of the $453-million CIBC U.S. Equityand vice-president at Kansas City, Mo.-based American Century Investments. "If revenues are moving from minus 10% to minus 2%, that's improving business fundamentals. It's not about absolute levels of growth, but the direction."

Orndorff, who works within a five-person team, reviews scores of companies and then concentrates on fundamental analysis. "We may see two companies with similar rates of growth, but for one it could be a function of a change in foreign currency. That's not very sustainable," he says.

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Michael Ryval

Michael Ryval  Michael Ryval, a regular contributor to Morningstar, is a Toronto-based freelance writer who specializes in business and investing.

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