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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 $2,598.55 million
Geographic Mix
% of Portfolio
United States 64.41%
Japan 5.05%
United Kingdom 4.29%
Switzerland 3.58%
France 3.41%
China 2.69%
Australia 2.40%
Hong Kong 1.91%
Taiwan 1.28%
India 1.21%
Spain 1.17%
Germany 1.06%
Netherlands 0.93%
Ireland 0.91%
Italy 0.85%
Korea, Republic of 0.82%
Thailand 0.51%
Singapore 0.48%
Denmark 0.48%
Belgium 0.47%
Norway 0.41%
Brazil 0.36%
Russian Federation 0.35%
Greece 0.23%
Philippines 0.16%
Vietnam 0.15%
Malaysia 0.14%
Indonesia 0.10%
South Africa 0.05%
Chile 0.05%
Hungary 0.05%
Poland 0.04%
Sector Allocation
% of Portfolio
Information Technology 25.53%
Health Care 15.38%
Consumer Discretionary 13.66%
Financials 11.65%
Industrials 9.85%
Consumer Staples 9.49%
Communication Services 8.13%
Real Estate 2.64%
Materials 1.49%
Utilities 1.15%
Cash 0.74%
Energy 0.30%
All data as at: Aug 02, 2021

Contact Us

+44 (0) 203-535-8100
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