| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | The Investment Manager follows a defined investment process which is underpinned by detailed bottom up fundamental analysis, overlayed with sectoral and macroeconomic research. This is combined with an extensive company visitation program where we endeavour to meet with company management and with other stakeholders such as suppliers, customers and industry bodies to improve our information set. Surrey Asset Management defines its investment process as Qualitative, Quantitative and Value Latencies (QQV). In essence, the Investment Manager thoroughly researches an investment's qualitative and quantitative characteristics in an attempt to find value latencies not yet reflected in the share price and then clearly defines a roadmap to realisation of those latencies. Developing this roadmap is a key step in the investment process. By articulating a clear pathway as to how and when an investment can realise what the Investment Manager sees as latent value, defines the investment proposition and lessens the impact of cognitive dissonance. This is undertaken with a philosophical underpinning of fact-based investing, transparency, authenticity and accountability. |
| Manager Comments | While they remain upbeat on the outlook for equity markets in 2020, after a very strong 2019 Surrey's stance is more cautious than at the beginning of last year. They are wary of the potential for the coronavirus outbreak to impact markets, however, they remain focused on the facts rather than the dramatic headlines. In their latest report they take a closer look at the impacts of past epidemics on global markets and point out that, despite the negative impacts in the short-term, the markets have often rebounded strongly. In February during reporting season the manager will be meeting with a large number of company management teams which they expect will allow them to reassess each of the Fund's positions according to Surrey's valuation roadmaps while also scouring for new investment ideas. |
| More Information |
