NS Partners home
Money Moves Markets

NS Partners International 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 Objectives

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


  • 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


  • 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 September 30, 1981
All data as at: Feb 22, 2018
Geographic Mix
% of Portfolio
Japan 24.24%
United Kingdom 14.16%
France 12.76%
Australia 7.54%
Switzerland 7.15%
Germany 6.94%
Netherlands 6.26%
Hong Kong 3.92%
Sweden 3.91%
Belgium 3.26%
Ireland 2.64%
Spain 1.45%
Italy 1.28%
Norway 1.02%
Finland 0.79%
China 0.65%
New Zealand 0.53%
India 0.24%
Korea, Republic of 0.23%
Taiwan 0.19%
South Africa 0.13%
Russian Federation 0.12%
Brazil 0.11%
Mexico 0.09%
Thailand 0.08%
Philippines 0.07%
Malaysia 0.05%
Vietnam 0.04%
Chile 0.04%
Poland 0.04%
Indonesia 0.02%
Czech Republic 0.02%
Hungary 0.02%
Peru 0.02%
Romania 0.01%
Greece 0.01%
Sector Allocation
% of Portfolio
Financials 26.73%
Industrials 18.12%
Consumer Staples 10.95%
Information Technology 10.05%
Consumer Discretionary 9.88%
Health Care 9.85%
Materials 6.87%
Energy 3.95%
Telecommunication Services 1.44%
Cash 1.10%
Real Estate 1.02%
Utilities 0.05%

Contact Us

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