Smith & Williamson launches EM value fund

LaunchSmith & Williamson Investment Management, part of UK-based accountancy and private bank group Smith & Williamson, has launched an emerging market value fund employing its proprietary “30/30/30” investment strategy. The Smith & Williamson Emerging Markets Value Fund, which may also invest in developed markets, selects stocks that are at least 30% below their highest price of the past 18 months and have a price/earnings ratio at least 30% lower than its relevant market index. Stocks must also have a dividend yield at least 30% above its relevant market index. The fund is managed by Richard McGrath, who is based at AGF in Dublin.   AGF is a minority shareholder in Smith & Williamson Holdings. The fund seeks to achieve long-term capital growth together with some income. It will invest in 50 to 90 stocks, each with a market capitalisation of at least $500 million (€365 billion). The investment philosophy is based on the assertion that cheap valuations are the major determinant of stock market performance across emerging markets in the long-term, and that investing in undervalued companies with a strong franchise should deliver the best returns.  The firm has £14.5 billion (€17.8 billion) of assets under management. ©2014 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.