Transcript
The team is a three-person team, myself, Paul, and Ada, with very long experience in emerging market equity. I’ve been doing the asset class since 1994. Paul’s been doing it since 98. Ada has over 20 years of experience in international equity markets, including emerging.
Paul and I have worked together since 2006, and we’ve followed the J.O. Hambro model of a small, highly experienced team running a focused and capacity-constrained product.
So, we run a long-only emerging market equity portfolio. One of our key views and values is that it needs to be highly differentiated from the index. We’re aware that our clients have some very attractive passive options, and that any active portfolio needs to be highly differentiated.
We’re looking to take advantage of the strength of our top-down conviction, and the top-down country work we do. And to be invested in fewer than half of the countries in the emerging market index at any one time.
At a stock level, it’s highly concentrated. We own about 50 stocks at any one time, compared to around 1,300 in the index. And so, our process is to identify what we think are the best emerging market countries to invest in. And then, in those countries, to find what we think are the best stocks.
