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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 $2,363.42 million
Geographic Mix
% of Portfolio
United States 63.14%
Japan 7.76%
France 3.92%
China 2.98%
Australia 2.86%
Hong Kong 2.72%
United Kingdom 2.54%
Switzerland 2.36%
Korea, Republic of 1.15%
Taiwan 1.13%
Spain 1.11%
Germany 1.00%
India 0.87%
Netherlands 0.84%
Ireland 0.74%
Brazil 0.57%
Austria 0.57%
Sweden 0.57%
Belgium 0.51%
Denmark 0.51%
Italy 0.41%
Norway 0.39%
Russian Federation 0.29%
Thailand 0.28%
Indonesia 0.24%
Greece 0.15%
Malaysia 0.11%
Mexico 0.10%
South Africa 0.08%
Vietnam 0.07%
Philippines 0.02%
Sector Allocation
% of Portfolio
Information Technology 24.41%
Health Care 14.49%
Consumer Discretionary 13.96%
Industrials 11.88%
Financials 11.55%
Consumer Staples 8.01%
Communication Services 7.04%
Materials 3.69%
Real Estate 2.98%
Utilities 1.61%
Cash 0.27%
Energy 0.10%
All data as at: Jan 20, 2021

Contact Us

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