Chief Investment Officer Quality Growth Boutique, Portfolio Manager
This equity fund aims to provide strong returns over a market cycle with considerably less business risk than the emerging equity markets.
The fund invests across emerging markets. It aims to invest in a concentrated portfolio of stocks of high-quality growth companies at sensible prices. The selected companies should exhibit relatively stable and predictable earnings growth that can be sustained for extended periods.
The highly experienced and stable investment specialist team adheres to a clearly defined, bottom-up approach that focuses on in-depth company research. The team manages the portfolio actively with the aim to participate in rising markets and protect capital during declining markets.
Our Emerging Markets Equity Fund is an actively managed, concentrated portfolio covering developing markets. Our approach is based on returns being driven by a long-term investment in companies with relatively stable and predictable earnings growth that can be sustained for extended periods of time. The strategy draws on the expertise of our boutique’s exclusive 30 strong investment team. ESG is integral to our approach given our focus on relatively stable and predictable ‘quality’ earnings growth combined with long-term holding periods. While the strategy is benchmark agnostic, performance is shown relative to the MSCI Emerging Markets Index.
“Investing in EM can be a bumpy ride at times. The MSCI EM Index is not selective – it holds the full range of companies from true quality to the latest thing. This is why we believe exposure to EM equities warrants an active approach. We are highly selective when seeking to identify quality companies. As bottom-up stock pickers, we look to invest in leading franchises with deep competitive advantages, earnings stability, relatively predictable businesses, and the potential for many years of growth.”
Many asset managers follow a high quality growth style, but what sets the Vontobel Quality Growth Boutique apart? We have spent decades building our team and distinct investment approach. Director of Research Igor Krutov discusses the philosophy and mechanics behind our process.
Emerging markets (EM) have evolved rapidly over the past 20 years and we believe there are still many decades of growth potential ahead. Emerging market populations, as a group, are living on incomes well below those of the developed markets of Europe, the U.S. and Japan. But they are closing the gap. The World Bank expects there will be 150 million new middle income consumers a year in emerging markets by 2030. As incomes rise, new spending behavior becomes relatively predictable and should generate economic growth for many years. Companies that can consistently deliver the goods and services to increasingly wealthy and demanding EM consumers stand to profit.
All data is as at Jul 31 2020 unless otherwise indicated.
|Aug 01 2015 - Jul 31 2016||Aug 01 2016 - Jul 31 2017||Aug 01 2017 - Jul 31 2018||Aug 01 2018 - Jul 31 2019||Aug 01 2019 - Jul 31 2020|
|[3 years annualized]|
All data is as at Aug 13 2020 unless otherwise indicated.
|Portfolio Manager||Matthew Benkendorf|
|Share Class Currency||USD|
|End of fiscal year||31 August|
|Index||MSCI Emerging Market TR net|
|Share Class Launch date||Mar 30 2007|
|Fund Registrations||AT, CH, DE, ES, FI, FR, GB, IT, LI, LU, NL, NO, PT, SE, SG|
|Share Class Registrations||AT, CH, DE, ES, FI, FR, GB, IT, LI, LU, NL, NO, SE, SG|
|Highest since launch||224.57|
|Lowest since launch||58.54|
|Fund volume in mln.||USD 2,695.46|
|Share class volume in mln.||USD 746.79|
|TER||0.97% (Feb 28 2020)|
|Depository||RBC Investor Services Bank S.A.|
|Management Company||Vontobel Asset Management S.A.|
|Swiss Paying Agent||Bank Vontobel AG|
|Swiss Representative||Vontobel Fonds Services AG|
|Share class||Currency||ISIN||Distrib.||Type||Launch date||Management fee||TER||TER Date|
|A||USD||LU0040506734||Dist||Retail||Nov 03 1992||1.65%||2.04%||Feb 28 2020|
|AHI (hedged)||EUR||LU0858753618||Dist||Institutional||Dec 03 2012||0.83%||1.03%||Feb 28 2020|
|AN||USD||LU1233654372||Dist||Retail||May 22 2015||0.83%||1.22%||Feb 28 2020|
|AX||CHF||LU2086609422||Dist||Jan 07 2020||0.52%||0.79%||Feb 28 2020|
|B||USD||LU0040507039||Accum||Retail||Nov 03 1992||1.65%||2.04%||Feb 28 2020|
|C||USD||LU0137006218||Accum||Retail||Jul 16 2007||2.25%||2.64%||Feb 28 2020|
|G||GBP||LU0863298914||Accum||Institutional||Dec 19 2012||0.65%||0.74%||Feb 28 2020|
|H (hedged)||EUR||LU0218912235||Accum||Retail||Dec 02 2005||1.65%||2.10%||Feb 28 2020|
|H (hedged)||CHF||LU0469618119||Accum||Retail||Apr 11 2012||1.65%||2.10%||Feb 28 2020|
|HC (hedged)||EUR||LU0333249109||Accum||Retail||Apr 15 2008||2.25%||2.70%||Feb 28 2020|
|HI (hedged)||EUR||LU0368556220||Accum||Institutional||Jun 10 2008||0.83%||1.03%||Feb 28 2020|
|HI (hedged)||CHF||LU0469618382||Accum||Institutional||Dec 19 2011||0.83%||1.03%||Feb 28 2020|
|HN (hedged)||GBP||LU1179464281||Accum||Retail||Feb 11 2015||0.83%||1.28%||Feb 28 2020|
|HN (hedged)||CHF||LU1683486069||Accum||Retail||Oct 10 2017||0.83%||1.28%||Feb 28 2020|
|HN (hedged)||EUR||LU1179463556||Accum||Retail||Feb 11 2015||0.83%||1.28%||Feb 28 2020|
|HS (hedged)||CHF||LU0773616858||Accum||Institutional||May 31 2012||0.00%||0.29%||Feb 28 2020|
|I||GBP||LU0787641983||Accum||Institutional||Jun 11 2012||0.83%||0.97%||Feb 28 2020|
|I||USD||LU0278093082||Accum||Institutional||Mar 30 2007||0.83%||0.97%||Feb 28 2020|
|N||USD||LU0858753535||Accum||Retail||Dec 03 2012||0.83%||1.22%||Feb 28 2020|
|S||USD||LU0209301448||Accum||Institutional||Feb 01 2005||0.00%||0.23%||Feb 28 2020|
* TER includes performance fee where applicable
All data is as at Jul 31 2020 unless otherwise indicated.
|Tencent Holdings Ltd||7.7%|
|Alibaba Group Holding Ltd ADR||7.2%|
|Factsheets & Commentaries|
|Monthly Commentary||Jul 2020|
|Quarterly Commentary||Jun 2020|
|Articles of Association||Apr 2016|
|Notification to Investors||Jan 2020|
|Sales Prospectus||Dec 2019|
|Annual Report||Aug 2019|
|Dividend Payout||Jan 2019|
|Semi-Annual Report||Feb 2020|
|Holiday Calendar 2020||Jan 2020|
|List of Active Retail Share Classes||Dec 2018|
|Sanctioned Countries||Sep 2016|
|Shareclass Naming Convention||Nov 2019|
Limited participation in the potential of single securities
Success of single security analysis and active management cannot be guaranteed
It cannot be guaranteed that the investor will recover the capital invested
Derivatives entail risks relating to liquidity, leverage and credit fluctuations, illiquidity and volatility
Price fluctuations of investments due to market, industry and issuer linked changes are possible
Investments in emerging markets may be affected by political developments, currency fluctuations, illiquidity and volatility
This investment style may lead to more heavily concentrated positions in individual companies or sectors
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