Overview
Key Facts
- Class Inception 23-Jan-2018
- Fund Launch Date 19-Dec-2016
- Bloomberg Ticker GCEMEIG
- ISIN IE00BD1R3L25
- Equity Participation Rate 59.75%
- Benchmark MSCI Emerging Market Index (Net) GBP
- Typical Number of Holdings 25-30
- Legal Status UCITS
- SFDR Classification Article 8
Charges and Subscriptions
- Annual Management Fee 0.80%
- Ongoing Charges 1.09%
- Minimum Investment USD 500,000
Investment Approach
Philosophy: growth drives returns; quality protects against downside; valuation matters.
- Concentrated, long-only strategy with 25-30 high quality, sustainably growing companies
- In-depth fundamental analysis, bottom-up analysis of selected high-confidence stocks
- Benchmark agnostic, unconstrained portfolio construction; high active share
- Genuine long-term investing with low portfolio turnover
- Large / Mid-cap focus
ESG Integration
Long-term thinking underlies everything we do.
All companies under consideration are assessed against the team’s ten Investment Criteria, including strong “Foundations for Sustainable Growth” (FSG), which ensures that a company’s ESG practices align with its potential for long-term sustainable growth. The Fund’s concentrated approach (25-30 stocks) enables a thorough understanding of the sustainability risks and opportunities relevant to each company and an analysis of a company’s ESG issues forms a key part of every investment decision.
Learn more about our approach to sustainability.
Performance
Annual Compound Performance
As of 30-Sept-2024
Fund
1M5.67%3M7.61%6M7.77%YTD10.24%1YR11.31%3YR-2.08%5YR2.38%7YR–SI0.69%Benchmark
1M4.52%3M2.46%6M7.45%YTD11.06%1YR14.70%3YR0.58%5YR3.97%7YR–SI2.28%Difference
1M1.15%3M5.15%6M0.32%YTD-0.82%1YR-3.39%3YR-2.66%5YR-1.59%7YR–SI-1.59%SI (Since Inception) is the performance since the share class inception date.
Inception Date: 23-Jan-2018
Calendar Year Performance
As of 30-Sept-2024
Fund
2018–201916.06%202026.94%2021-10.09%2022-12.22%2023-0.59%Benchmark
2018–201913.85%202014.65%2021-1.64%2022-10.02%20233.63%Difference
2018–20192.21%202012.29%2021-8.45%2022-2.20%2023-4.22%Growth of 10,000
Characteristics
Top 5 Holdings
As of 30-Sept-2024
| Rank | Holdings | % of Assets |
|---|---|---|
| 1 | TAIWAN SEMICONDUCTOR | 7.66 |
| 2 | MERCADOLIBRE INC | 7.26 |
| 3 | SAMSUNG ELECTRONIC | 6.04 |
| 4 | HDFC BANK LTD | 5.62 |
| 5 | AIA GROUP LTD | 5.16 |
Region Breakdown
As of 30-Sept-2024
Sector Breakdown
As of 30-Sept-2024
Managers
Ed Wallace, CFA
Ed Wallace joined GuardCap in 2015. His career in the investment industry began over 20 years ago, when he joined Gartmore Investment Management on their global equity team as a graduate trainee, subsequently becoming an analyst and portfolio manager. In 2011 Henderson Group acquired Gartmore and Ed moved with the team to Henderson Global Investors managing global and international equity funds for institutional and retail clients. Over an 18-month period (2003-05), he also participated in developing UK government policy on institutional investment at HM Treasury.
Ed graduated with a first-class honours degree in Modern History & Economics from Oxford University. He is a CFA® Charterholder.
Joris Nathanson
Joris Nathanson joined GuardCap in 2016. Prior to joining GuardCap, Joris spent 10 years working for Nevsky Capital LLP, a multi-billion dollar Global and Emerging Markets specialist investment firm offering both long only and long/short strategies, where he was Partner and Senior Analyst.
Joris graduated from Oxford University with a degree in Philosophy, Politics and Economics (PPE). He qualified as a Chartered Accountant with Deloitte LLP.
Alice Yin, CFA
Alice Yin joined GuardCap in 2017. Before joining GuardCap, Alice spent five years working for Barclays Investment Bank as an associate on the M&A team, focusing on mergers and acquisitions in EMEA, cross-border transactions and working directly with companies on their financial and strategic options across a wide range of sectors.
Alice graduated from Oxford University with a degree in Mathematics and Statistics and is a CFA® Charterholder.
Risk Disclosures
All investments involve risk, including the possible loss of principal. There is no guarantee investment objectives will be met. Past performance is not indicative of future results. Portfolio characteristics including holdings, sector weightings and market capitalisation are subject to change at any time. All material is compiled from sources believed to be reliable and correct, but accuracy cannot be guaranteed.
