Aubrey Global Conviction Strategy

Aubrey Global Conviction Fund

Available as:

Total Net Assets
 
 

Overview

The Aubrey Global Conviction Fund invests in growth stocks worldwide in a concentrated and index agnostic fashion, with the aim of achieving capital appreciation.

As the name implies, it often takes substantial positions in regions and sectors which the managers consider attractive, with the result that the portfolio disposition and performance is generally very different from the MSCI World Index.

Although unconstrained, the Fund tends to be mid-cap biased, and expects its companies to be producing earnings growth of at least 15% over a forecast two year time horizon, have a 15% forecast return on equity, as well as being highly cash generative, with a cash flow return on assets of at least 15%. In addition to these quantitative requirements the managers emphasise management quality and track record, franchise strength, and competitive advantage. While many of the stocks in the portfolio pay dividends, it is not a priority in the stock selection process.

With such demanding growth requirements, the portfolio tends towards the higher growth regions of the world, and is generally overweight Asian markets, where excellent demographics and strong economies create an exciting backdrop. In developed markets, particularly the USA, the emphasis has tended towards the Technology, Biotechnology, and Consumer Services sectors. As a consequence, the portfolio is usually underweight in Europe and Japan.

 

Investment Objective & Policy

The Fund aims to achieve long term capital growth over a five year rolling period by investing in attractive markets and sectors on a worldwide basis. The investment policy is to invest in shares, warrants, bonds, money market instruments, cash and deposits, directly or indirectly through collective investment schemes, that can best take advantage of economic opportunities worldwide. As a result, the Fund may not always have exposure to all asset types. Derivative and forward transactions may be used by the Fund for Efficient Portfolio Management. Please refer to the prospectus for full details of the investment objective.

Inception Date 8th January 2007
Benchmark MSCI All Countries World Index Net GBP
IA Sector Global
Fund Name SVS Aubrey Global Conviction Fund
Domicile United Kingdom
Fund Type UK UCITS Fund
Legal Form OEIC
Management Co/ACD Evelyn Partners Fund Solutions Limited
Custodian RBC Investor Services
Administrator Evelyn Partners Fund Solutions Limited
Auditor Johnston Carmichael
Pricing Frequency Daily
Platform availability AJ Bell, Ascentric, AVIVA, Cofunds, Elevate, Hargreaves Lansdown, NOVIA, Nucleus, Standard Life & Transact
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Source: Aubrey Capital Management & MSCI

All figures are presented net of fees in GBP and calculated using the Retail A Accumulation share class. MSCI All Countries World Index is used for comparative purposes only. Investment returns may increase or decrease as a result of currency fluctuations. Past performance is no guarantee of future results.

Top 10 Positions
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Fund Sector Breakdown
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Geographic Allocation
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The securities identified and described do not represent all of the securities purchased, sold or recommended for client accounts. The reader should not assume that an investment in the securities identified was or will be profitable.

Available share classes prices

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As at  

Prices in pence/cents

Ongoing charges figure (OCF) is based upon the expenses incurred but does not include transaction costs (see KIID for details).

Fund Managers

Years at Aubrey

15

Industry experience

38

Andrew is Founder, Director and CIO at Aubrey, as well as being Lead Investment Manager of the GEM and Global Equity strategies.

A graduate of Cambridge University, he began his career at Cazenove & Co then joined James Capel in 1987 and was transferred to James Capel (Far East) in Hong Kong in 1991. He continued in his role as an Asian specialist working with UBS Warburg from 1992-1998 in Hong Kong.

Andrew joined Stewart Ivory in 1998 and in 1999 he established the Global Opportunities Fund, now the First State Global Opportunities Fund, which remained his signature fund throughout his tenure at First State Investments. Since inception (August 1999) through June 2006 the fund rose 112.2% compared to a rise of 3.8% in the MSCI World Index. The Fund was top quartile over 1,2,3,4,5 years and since inception.

Years at Aubrey

10

Industry experience

34

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.