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NS Partners ACWI ex-US Equity

Product Highlights

  • Portfolio Manager average tenure over 17 years
  • Philosophical commitment to liquidity analysis
  • Fundamental approach, Economic Value Added (EVA®) discipline
  • Focus on medium and large cap companies with a bias towards quality/growth
  • Regional portfolio construction
  • Blend of alpha sources: market allocation and stock selection

Investment Objective

  • Long-term growth through investments in equity securities listed on global stock exchanges
  • Return Objective: MSCI ACWI ex-US Index + 2-4% per annum over a market cycle
  • Risk Objective: 2-4% tracking error relative to the MSCI ACWI ex-US Index

Investment Philosophy

  • Added value can be achieved through fundamental research, macro-liquidity insights and active portfolio management
  • Seek companies with durable growth, generating high ROIC and earnings momentum
  • Maximize exposure to the best market opportunities while keeping within acceptable risk tolerance levels and ensuring diversification
  • Focus on economic profit analysis allows us to consistently avoid companies underperforming over the long term

Investment Process

  • Interpret structural and cyclical liquidity fueled themes
  • Disciplined combination of country and regional analysis coupled with bottom-up stock selection based on economic profitability
  • Three key research components:
    • Stock: EVA® methodology is used to identify companies with strong fundamentals, high return on invested capital and attractive valuation
    • Country: Country and regional analysis encompassing macro-economic analysis with focus on liquidity as well as an assessment of political risk
    • Sector & Industry: As a function of stock selection, global industry analysis is used to identify companies likely to benefit from structural changes in the market
  • Risk Controls – Liquidity analysis meters aggressive/defensive positioning. Risk attribution system quantifies stock, sector and regional allocations
Quick Facts
Inception Date January 31, 1999
All data as at: Feb 22, 2018
Geographic Mix
% of Portfolio
Japan 15.84%
France 10.28%
United Kingdom 9.73%
China 9.51%
Switzerland 7.05%
Hong Kong 6.62%
Germany 5.76%
Canada 3.86%
India 3.46%
Korea, Republic of 3.28%
Taiwan 2.76%
Belgium 2.72%
Netherlands 2.23%
South Africa 1.87%
Australia 1.86%
Russian Federation 1.78%
Brazil 1.67%
Ireland 1.63%
Mexico 1.24%
Thailand 1.19%
Norway 1.01%
Philippines 0.98%
Malaysia 0.68%
Vietnam 0.55%
Chile 0.53%
Poland 0.52%
Indonesia 0.29%
Czech Republic 0.25%
Hungary 0.23%
Peru 0.23%
Romania 0.19%
Greece 0.18%
Sector Allocation
% of Portfolio
Financials 25.50%
Consumer Discretionary 15.50%
Industrials 14.60%
Information Technology 13.89%
Materials 9.36%
Consumer Staples 7.75%
Health Care 6.56%
Energy 4.90%
Cash 1.03%
Utilities 0.68%
Real Estate 0.12%
Telecommunication Services 0.10%

Contact Us

+44 (0) 203-535-8100
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