Key points
- Investing in global leaders with robust and stable cash flow return on investment
- High-conviction concentrated portfolio with low turnover
- Provide access to quality growth at any price
- Experienced team of 4 analysts and portfolio managers
- Strong track record for the strategy (initially launched in 2010 as en equity basket)
Investment case
Shares of companies with high and sustainable cash flow returns on investment and exposure to growth have outperformed the stock markets over mid- and long-term periods. With only modest global economic growth anticipated in the next years, the ability of continuous value creation through high cash flow returns on investment should be particularly appealing and we expect it to result in relative outperformance. Investing successfully in truly global leaders is based on the ability to identify those companies that have a strong brand, product and positioning, enabling them to “beat the fade”.
Fund concept
The fund is a concentrated portfolio of 30 large-cap global stocks. The fund seeks investments in companies that hold leading positions in their particular business fields, deliver high returns on invested capital and have exposure to growth opportunities. The fund managers invest according to a pure bottom-up approach with sector and country allocation applied as a means of risk control. We intend to invest in these companies for 3 to 5 years, hence expect portfolio turnover to continue to be relatively low.
Please find the code of transparence in french here.
