Emerging Markets Income and Growth Strategy

Management Style

We seek quality companies, with strong management and sustainable growth prospects, at attractive valuations. Our approach to investing is bottom-up, stock-focused and research-driven. We focus on both quantitative and qualitative analysis and search for less well-understood opportunities. Regular management meetings are a key principle of our process. We like to find companies we can invest in for the long term. Belief in the sustainability of their growth and evidence of good shareholder relations are key drivers for us. Portfolios are built on the basis of our conviction; we are aware of any benchmark index but if we don’t like a stock, we don’t invest in it, regardless of its index weighting. Fiera Capital’s Emerging Markets Income & Growth Strategy seeks high dividend paying companies across emerging markets without restriction, aiming to provide a combination of income and long-term capital growth.


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Core Principles

  • Seeking sustainable growth at a reasonable price from quality companies
  • Disciplined, risk-aware, bottom-up investment process
  • Long-standing management team invested in strategy

PERFORMANCE*

Returns as of December 31, 2020 (%)

  QTD YTD 1 YR 3 YRS 5 YRS SI¹
EM Income & Growth composite, gross 24.19 10.05 10.05 5.56 11.58 6.86
EM Income & Growth composite, net 24.05 9.10 9.10 4.53 10.53 5.78
MSCI Emerging Markets Index  19.70 18.31 18.31 6.17 12.81 5.81
Added Value, gross  4.50 -8.25 -8.25 -0.62 -1.23 1.05
Added Value, net  4.35 -9.20 -9.20 -1.64 -2.28 -0.03

 

  2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
EM Income & Growth composite, gross 21.92 -12.34 32.93 10.63 -15.70 -5.05 6.92 26.74 -13.24 23.30
EM Income & Growth composite, net 20.74 -13.29 31.67 9.71 -16.52 -5.92 5.99 25.67 -14.89 22.80
MSCI Emerging Markets Index  18.44 -14.58 37.28 11.19 -14.92 -2.19 -2.60 18.22 -18.42 26.69
Added Value, gross of fees 3.49 2.23 -4.35 -0.55 -0.78 -2.86 9.52 8.51 5.18 -3.39
Added Value, net of fees 2.31 1.28 -5.62 -1.48 -1.60 -3.73 8.60 7.44 3.53 -3.89

 

¹ Inception Date: June 30, 2010

*Performance for periods longer than one year is annualized. Performance is represented by the Emerging Markets Income & Growth Composite comprising fee-paying discretionary portfolios with a remit to invest principally in global emerging markets. For comparison purposes, the composite is measured against the MSCI Emerging Markets Index, a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in global emerging markets.  It is not possible to invest directly in an index. Performance is given in USD. Past performance is not a guarantee of future results. Inherent in any investment is the potential for loss. Gross performance does not reflect the deduction of management fees or expenses. Net performance does reflect the deduction of management fees as well as other fees and expenses, including transaction costs and custody fees. The actual management fee and expenses paid by an account may be higher or lower. Performance as stated includes the reinvestment of all dividends and capital gains.

Senior Investment Team

Ian SimmonsIan Simmons

Lead Portfolio Manager, Emerging Markets Equities

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