Stonehage Felming's flagship fund produces outstanding returns

20 September 2017Gerrit Smit, Stonehage Fleming
Gerrit Smit, Head of Equity Management at Stonehage Fleming.

Gerrit Smit, Head of Equity Management at Stonehage Fleming.

“Despite some nervousness, equities remain the asset class of choice” Gerrit Smit, Head of Equity Management, Stonehage Fleming.

Since launching in August 2013, the Stonehage Fleming Global Best Ideas Equity Fund has returned 47.2%*, compared to MSCI World All Countries Index of 39.0%*.

The fund has attracted assets from private, professional and institutional investors and now has assets under management of over US$650 million. It is available on the Allan Gray International, Glacier International and Old Mutual International platforms.

Fund Manager Gerrit Smit runs this concentrated, high conviction portfolio of 24 stocks that are chosen for their sustainable growth potential, strong management team, strategic competitive edge and value. The portfolio has very low turnover: over the past 12 months Gerrit has only sold two positions and initiated one.

Current investments include some of the world’s best known companies such as, Visa, Alphabet, Nestle, Estée Lauder, PepsiCo and Accenture with technology stocks now making up 28.8%*** of the Fund.

Commenting on the current market environment, Smit said:

“There has been some general nervousness of equities which are now in the eighth year of a bull market, but this needs to be weighed against global economic fundamentals, which in our view continue to favour investment in quality companies. The US consumer and manufacturing sector show strong confidence and economic performance has improved in Europe too. Most importantly, we continue to stick to our philosophy that a good business remains a good business irrespective of potential short-term tactical setbacks in its share price, and it will continue to reward investors over time.”

The Fund had previously been available exclusively to clients of Stonehage Fleming, but has been open to outside investors since 2016. It is now available on seven platforms and across three jurisdictions, with more under consideration.

*Source: Stonehage Fleming Investment Management (SFIM), figures to 16 August 2017 (net of fees) Share Class B

***Source: Capita Financial Administrators (Ireland) and Stonehage Fleming Investment Management Limited, August 2017

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