Past performance is not a reliable indicator of future performance.
The Global Growth Equity Composite seeks long-term capital appreciation by investing primarily in a diversified portfolio of transferable equity and equity-related securities of larger cap companies listed on the world's stock markets. The portfolio may include investments in the securities of companies listed on the stock exchange of developed and developing countries.
- Single decision-maker provides clear accountability.
- Identify “best ideas” by assessing companies in a global sector context, using bottom-up approach to create focused, high-conviction portfolio.
- 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 large-cap stocks, incorporating developed and emerging markets.
- Number of holdings: Typically around 150 holdings.
- Individual positions: Typically 0.3%-3.0%, maximum 5%
- Emerging markets exposure: +/- 15% of benchmark
- Broad sector ranges: +/- 10% 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%
- Expected tracking error: 300 to 700 basis points
- Primary benchmark is MSCI All Country World Index