Capital at risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
- Fundamental research is critical to successfully identify and asses long-term investment opportunities. The portfolio benefits from our considerable equity research resources with over 20 European analysts seeking insights into the industries and companies that they cover.
- We look to discover quality businesses that will benefit from change, either as a result of being on what we believe to be the "right side" of change, or from idiosyncratic change, and where we have an insight on key long-term drivers for the stock.
- Valuation needs to present an attractive risk/reward profile, and we follow this overall approach across the market cycle and across style and market cap boundaries.
- ESG considerations are embedded across our investment process, particularly as they can be a key indicator of the durability of a business and a source of change across many industries.
- Risk management is integral to the portfolio construction process, and the portfolio benefits from close collaboration with our Risk, Quantitative and ESG teams as well as other investment personnel.
- Typically 40-70 stocks
- Individual position size up to 4.0% relative to the benchmark
- Sector ranges: typically +/-10% relative to benchmark
- Country ranges: typically +/-10% relative to benchmark
- Cash target range: fully invested, typically less than 5.0%
- Turnover range: 30-60%
Past performance does not predict future returns.