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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 $2,583.48 million
Geographic Mix
% of Portfolio
United States 61.17%
Japan 5.33%
United Kingdom 5.22%
France 4.11%
Australia 3.18%
China 3.07%
Hong Kong 2.77%
Germany 1.49%
Taiwan 1.42%
Switzerland 1.28%
Ireland 1.19%
Italy 1.07%
India 1.05%
Korea, Republic of 1.02%
Spain 0.98%
Netherlands 0.83%
Brazil 0.61%
Austria 0.57%
Singapore 0.47%
Belgium 0.47%
Thailand 0.42%
Denmark 0.42%
Norway 0.37%
Sweden 0.32%
Russian Federation 0.32%
Indonesia 0.20%
Greece 0.20%
Malaysia 0.13%
Vietnam 0.09%
South Africa 0.07%
Philippines 0.07%
Chile 0.07%
Sector Allocation
% of Portfolio
Information Technology 24.77%
Financials 14.40%
Consumer Discretionary 14.32%
Health Care 12.64%
Industrials 10.67%
Consumer Staples 8.43%
Communication Services 7.56%
Real Estate 2.97%
Materials 2.44%
Utilities 1.32%
Cash 0.38%
Energy 0.10%
All data as at: Apr 19, 2021

Contact Us

+44 (0) 203-535-8100
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