07 Jan 2025
Every month we study the universe of funds in the investment marketplace to assess whether they meet our exacting standards and should be given the RSMR seal of approval.
Here are the new rated funds from our December review:
The fund is managed by Ernest Yeung supported by Haider Ali, with a dedicated analyst Martin Baylac. The fund has a value orientated investment style, but is not driven solely by valuation screens, or looking to be deep value in nature but is seeking to take advantage of ignored parts of the market outside the say top 30% of quality names which would typically trade at relatively high ratings in the emerging world.
The two fund managers are looking for stocks with asymmetrical risk reward characteristics, but do not want value traps or a fund of names doing nothing in terms of share price movement. The focus is on businesses that are average rather than poor quality and not all companies outside the top-quality subset are bad. The fund is looking to deliver outperformance by finding average companies which are getting better but ignored by the market for the present. To achieve this, the team look to invest in idiosyncratic stock stories where it is individual company factors driving the improvement. Out of favour, but getting better names, would ideally be what the managers would hold. The team clearly understand the emerging market universe well, the portfolio is very different from most of the peer group and provides good diversification.
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The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.