Top-down country allocation, bottom-up security selection
MSCI (All Country) World Index
Strategy Inception Date
The global equity strategy employs a core approach to global investing with a conservative growth philosophy. The team focuses on country allocation and corporate economic profit growth to drive long-term returns while also controlling risk.
The Global Core Equity strategy employs a "3C" process:
Country: The global universe contains 48 countries. A country allocation screen identifies undervalued markets with improved growth prospects and low risk characteristics. Liquidity measures and political screens eliminate unattractive countries. The resulting universe of 28 developed and emerging countries are scored and ranked for valuations, growth/momentum and risk.
Company: A minimum market cap screen of $1.5 billion is applied. The securities are then ranked based on historical and prospective valuation, growth, and momentum characteristics. Companies in the top six deciles in this analysis are included in the next screening. Subsequent EVA analysis reduces the universe to the 'Watch List'. Selected names are reviewed using in-depth fundamental analysis.
Control: The portfolio manager imposes disciplined controls at the country, sector, company and portfolio level.