Aubrey European Conviction Strategy
Total Net Assets
European Companies, Global Reach
The Aubrey European Conviction Strategy was launched in March 2008; with the aim of achieving long term capital growth. The strategy is managed by an experienced investment team, led by expert Sharon Bentley-Hamlyn. The investment approach is high conviction, benchmark agnostic and underpinned by a strong valuation discipline. We invest in 30-40 high-quality and innovative European companies with sustainable long-term earnings growth. ESG principles and engagement are integral to our assessment of a company as we only seek companies making a positive societal impact and exclude those operating in harmful industries.
Typically, we would have 95% active share...less than 5% overlap with the main European index" - Sharon Bentley-Hamlyn, Co-Founder & Investment Director
From luxury watch making in Switzerland which has for long been the gold standard, to semiconductor production equipment, where Europe has world leading businesses" - Sharon Bentley-Hamlyn, Co-Founder & Investment Director
We only invest in companies with sustainability at their core" - Sharon Bentley-Hamlyn, Co-Founder & Investment Director
Aubrey has managed a segregated European mandate since 2008. In 2019 the Aubrey European Conviction Fund (SICAV) was launched, followed by the Aubrey Europe Ex UK Fund (OEIC) in 2021.
The businesses we invest in are typically not those which represent the major proportion of the European market index, e.g. banking, oil, pharmaceuticals. Our portfolios are 95% ‘active’ i.e. only 5% overlap with the index. We are investing not in those mature companies whose best growth is past but in the leaders of the future, companies that are delivering quite astounding levels of innovation. These are typically mid-sized, specialist niche companies, which are facilitating big changes in the way industries operate, energy is provided, and consumers live their lives.
We are signatories to the UN supported Principles for Responsible Investment, and have an extremely strong internal ESG process, with all investments scrutinised and scored against multiple sustainability criteria, based on the principles of the UN Global Compact in relation to Human Rights, Labour, Environment, Anti-Bribery and Corruption. We invest with the foremost aim that our companies should do no harm, and indeed, have a positive societal impact.
The Strategy invests in securities listed on Western or Emerging European exchanges with the aim of achieving long term capital growth. It is a high conviction Strategy focused on cash generative growth stocks with sound balance sheets and strong ESG scoring. Its objective is to generate significant long term returns by investing in companies whose activities have a positive impact.
Years at Aubrey
Sharon is a Founder, Director and has been responsible for Aubrey’s European strategy since its inception in 2008. She is also head of research and lead manager on two Luxembourg quoted European SICAVs, and a UK quoted Europe ex-UK OEIC. Sharon heads up Aubrey’s Sustainability Committee, which ensures the consistency of ESG scoring across both investee companies and internally within Aubrey, as well as monitoring UN supported PRI reporting.
Sharon’s financial career started at Crédit Commercial de France as an analyst in its Mergers & Acquisitions division. This came after she originally trained as an opera singer in the 1980s.
Between 1992 and 2006, Sharon was with Walter Scott & Partners, becoming a Board Director in 2001. Here, she had a global remit following extensive research experience into the major markets of the world: the UK and Europe (including emerging Europe), the USA and Far East. For almost a decade she held primary responsibility for the firm’s European stock selection and for the firm’s regional European assignments, either fully discretionary or with client-specific parameters. Sharon helped develop the firm’s institutional fund management business and managed several publicly quoted SICAVs.
Sharon was ranked 9th in Citywire’s Alpha Female Report, which ranks managers across all asset classes according to consistency of performance over the past 5 years. Investment Week’s Women in Investment Awards awarded her Highly Commended in the category Fund Manager of the Year (small to medium firms). In addition to holding degrees from Bristol University and the University of Edinburgh, Sharon is fluent in both French and Italian.
Years at Aubrey
John, who joined Aubrey in early 2012, is a Director and Fund Manager covering global markets. He is a graduate of the University of Strathclyde, with a BA in Economics and, additionally, is a member of the CFA Institute.
John has over 30 years’ investment industry experience across global equity markets. He joined Glasgow-based FS Assurance in 1988, and managed equity portfolios in the UK retail and pension fund market. He then moved to First State Investments in 2000 to manage retail and segregated European client portfolios. In 2004, he moved to Alliance Trust PLC and was a member of the Global Equity Team and subsequently responsible for the Global Emerging Markets portfolio.