| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
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| Inception Date | |
| FUM (millions) | |
| Fund Overview | The concept behind the Fund is that the process of globalisation, which involves the removal of impediments to ownership, international trade and promotion, will see the emergence of 'mega-brands'. Companies with these strong positions are likely to be able to augment the growth in their relatively mature but stable home markets by tapping faster growth in emerging markets, which are experiencing rising living standards. Alternatively, powerful regional brands can expect to enjoy strong growth and profitability and may even be taken over by global operators on account of the regional brand's local dominance. The portfolio will invest in companies around the world, including producers of luxury goods, other consumer durables, as well as food, beverages, household and personal care products, retailers, and financial services. |
| Manager Comments | The fund achieved the above returns while holding cash and short positions at 24.8% of the fund's value. The manager notes that a number of companies have benefited from the very low interest rates to become more acquisitive. This has assisted some of the Fund's holdings more recently. In addition, the fund is looking to exploit some of the opportunities that are arising in Africa from the rapid increase in consumer spending and flowing from this, demand for luxury brands. Notably the fund has a 71% exposure to the consumer staples and consumer discretionary sectors with little exposure to the other Index components. Investors should keep this exposure in mind as a risk factor. Despite a generally positive outlook the manager remains concerned about periodic volatility deriving from global sovereign debt issues and is therefore likely to continue hold higher levels of cash. |
| More Information | » View detailed profile of this fund |
