Assets under management (AUM) for the Stonehage Fleming Global Best Ideas Equity Fund have passed the £500 million mark.
Since launching in August 2013, the £514 million fund has attracted assets from both private, professional and institutional investors and has returned 78.7 percent over the last four years, compared to the Global Equity peer group average of 52.8 percent.
Fund manager Gerrit Smit runs a concentrated, high conviction portfolio of 24 stocks that are chosen for their sustainable growth potential, strong management team, strategic competitive edge and value according to the firm. The portfolio has very low turnover, over the past 12 months Mr Smit has only sold two positions and initiated one.
Current investments include companies such as Visa, Alphabet, Nestle, Estée Lauder, PepsiCo and Accenture with technology stocks now making up 28.8 percent of the fund.
Mr 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.
Stonehage Fleming provides a range of services to over 250 wealthy families. The group advises on over £35 billion of assets and employs over 540 people in 11 offices in eight jurisdictions around the world.