iM Global Partner has launched the iMGP Global Concentrated Equity Fund, to be managed by Scharf Investments.
The fund’s portfolio will be made up of around 30 stocks and use the same approach as the Scharf Global Opportunity Fund (WRLDX), which was launched in 2014 and is currently in the top 10% of the Global Large Stock Value sector.
The £24 million fund has returned –11.08% over one year and 9.56% over three years according to Morningstar data, ranking it in the third and send quartile of the Global Large-Stock Value category over those periods.
The fund has been managed by Gabe Houston and Brian Krawez since launch.
Scharf Investments have been a partner with iM since 2019, when iM Global Partner acquired a 40% stake in the business.
According iM Global Partner head of international distribution Jamie Hammond, the strategy is being launched to capitalise on a perceived rotation from growth to value in 2022.
Philippe Uzan, deputy chief executive at iM Global Partner, said: “We are very pleased to launch this new fund with Scharf Investments.
“The firm focuses on medium-term capital protection through stock selection which clearly differentiates them from a traditional value approach. We believe the fund’s approach, which combines both value and quality, is particularly adapted to a late cycle market environment.”
iM represents around $36 billion of assets under management as of April 2022.
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