Global Emerging Markets Core Growth

Management Style

The investment strategy is based on a bottom-up, fundamental research-driven approach which aims to build a concentrated, growth-orientated portfolio with an emphasis on quality. We seek opportunities across the market capitalization spectrum. Risk-adjusted upside potential is a main determinant of selection and position sizes are driven by conviction with no regard to index weighting.


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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
  • Ability and willingness to seek out under-researched ideas

PERFORMANCE*

Annual Returns as of December 31, 2020 (%)

  QTD YTD 2019 2018 2017 2016 2015 2014 2013 2012
GEM Core Growth composite, gross 19.75 12.91 22.45 -20.01 43.52 9.61 -8.85 0.38 2.34 19.48
GEM Core Growth composite, net 19.70 12.62 21.94 -20.40 42.60 8.53 -9.55 -0.27 1.56 18.72
MSCI Emerging Markets Index 19.70 18.31 18.44 -14.58 37.28 11.19 -14.92 -2.19 -2.60 18.22
Added Value, gross of fees 0.06 -5.40 4.01 -5.43 6.24 -1.58 6.07 2.57 4.94 1.26
Added Value, net of fees 0.00 -5.69 3.51 -5.82 5.32 -2.66 5.37 1.92 4.16 0.50

 

Annualized Returns as of December 31, 2020 (%)

  1 YR 3 YRS 5 YRS 10 YRS SI¹
GEM Core Growth composite, gross 12.91 3.41 11.71 4.11 10.20
GEM Core Growth composite, net 12.62 3.01 11.09 3.43 8.62
MSCI Emerging Markets Index 18.31 6.17 12.81 3.63 10.34
Added Value, gross -5.40 -2.76 -1.10 0.48 -0.14
Added Value, net -5.69 -3.16 -1.72 -0.20 -1.72


¹ Inception Date: July 31, 2003

*Performance is represented by the Emerging Markets Core 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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