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.
- Single decision maker provides clear accountability.
- Utilize a bottom-up approach to create a focused, high-conviction portfolio of companies which we believe are on the right side of change and in which we have insights about potentially improving economic returns in the future that are not yet reflected in valuation.
- Global research platform uses fundamental analysis to identify companies with superior and sustainable growth prospects, and improving fundamentals.
- Macroeconomic and local market factors are integrated in stock selection decisions.
- Valuation appeal is measured against local market and broad sector opportunity set.
- Broad range of stocks across all capitalizations, incorporating developed and emerging markets.
- Number of holdings: typically 60-80 stocks
- Individual positions: Typically 0.5%-5.0%
- Emerging markets exposure: +/-15% of benchmark
- Broad sector ranges: +/-15% of benchmark
- Country ranges: +/-10% of benchmark (USA is +/-20%)
- Currency hedging: Currency views incorporated in stock selection
- Cash target range: Typically less than 5%, maximum 10%
- Primary benchmark is MSCI AC World Index and secondary benchmark is MSCI World Index.
Past performance does not predict future returns.