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NS Partners Global Equity

Highlights

  • Unique Investment Philosophy: Emphasizes inflection points in liquidity conditions and stocks with improving economic profitability
  • Differentiated Investment Process: Designed to steer fundamental stock selection to countries with a favourable market environment
  • Focused Risk Management: Employs a factor risk model designed to avoid unintended country, sector or company exposure

Objectives

  • Long-term growth through concentrated investments in equity securities listed on foreign stock exchanges
  • Return Objective: MSCI World Net Index + 2%–3% over a market cycle
  • Risk Objective: Tracking error of 1.5%–2.5% per year over a market cycle

Investment Philosophy

  • Country selection matters – excess money moves both asset markets and economies
  • Economic profitability drives stock selection – securities generating high or improving economic profitability relative to the market with outperform
  • Peer review discipline – revalidate, continually test convictions, ensure tight capital discipline

Investment Process

  • Macroeconomic and Liquidity Analysis
    • Changes in liquidity conditions influence security prices
  • Country Selection
    • Country weights based on conviction, relative return opportunity and risk
  • Stock Selection
    • Focus on securities expected to have improving economic profitability
  • Portfolio Construction
    • Macroeconomic liquidity analysis provides the framework for portfolio construction
    • Portfolio of 90–130 securities
  • Portfolio Risk and Review
    • Formal monthly meetings to peer review portfolio
    • Employ a factor risk model to avoid unintended country, sector or company exposure
Quick Facts
Inception Date March 31, 2000
AUM $2,648.89 million
Geographic Mix
% of Portfolio
United States 63.34%
Japan 5.37%
United Kingdom 4.84%
Switzerland 3.24%
France 2.80%
Australia 2.78%
China 2.64%
Netherlands 1.50%
Hong Kong 1.47%
Norway 1.40%
India 1.39%
Taiwan 1.27%
Germany 1.01%
Ireland 0.88%
Italy 0.84%
Korea, Republic of 0.78%
Spain 0.72%
Belgium 0.52%
Thailand 0.49%
Singapore 0.48%
Denmark 0.46%
Russian Federation 0.41%
Brazil 0.27%
Philippines 0.24%
Greece 0.21%
Malaysia 0.15%
Vietnam 0.15%
Indonesia 0.13%
Chile 0.12%
Hungary 0.05%
Poland 0.04%
Sector Allocation
% of Portfolio
Information Technology 26.53%
Health Care 15.27%
Consumer Discretionary 12.76%
Financials 12.15%
Industrials 10.44%
Consumer Staples 8.48%
Communication Services 7.69%
Real Estate 2.43%
Energy 1.33%
Utilities 1.19%
Materials 1.16%
Cash 0.56%
All data as at: Oct 20, 2021

Contact Us

+44 (0) 203-535-8100
Connor, Clark & Lunn Financial Group home page