This was our first introduction to the trust and one of the managers who manages a proportion of the trust. It invests with nine “best-in-class” global equity managers. These are currently – Black Creek, River and Mercantile, Jupiter, SGA, Veritas Asset Management, Lyrical Asset Management, GQG Partners, FPA and Vulcan Value Partners.
Each manager is responsible for creating a portfolio of ‘high-conviction’ equities that they believe are most likely to deliver outperformance over time. They only invest in their very best ideas and cover a range of stocking picking styles (value, growth or quality).
The management team balances risk at stock, sector and geographical level. The argument for selecting this strategy is that there is no star manager and that styles can move in and out of favour, and therefore investors can benefit from outperformance due to the different blends. The managers can select up to 20 stocks and the portfolio itself holds up to around 200 listed stocks….read more