Martin Currie opens Asia fund to investors
Martin Currie has opened its Martin Currie Asia Long Term Unconstrained Sicav – managed by Jason McCay and Andrew Graham – to investors.
The fund invests in a 20-30 stock unconstrained portfolio, with the aim of building a fund that can deliver stable and sustainable returns in all market conditions and has low volatility.
The managers will focus on forensic accounting and corporate governance with “careful and detailed anlaysis of five years of annual reports”.
Jason McCay, head of Martin Currie’s Asia team, says: “Asia’s economies are growing at a pace that far outstrips the developed world.
“But while Asian markets can deliver impressive returns in the short term, the excessive volatility that characterises the region can impair longer-term returns.”
He adds: “We expect the next few years to be a volatile and cyclical period for markets in Asia.
“A genuinely long-term approach allows us to see periods of market weakness as opportunities to build cheap holdings in outstanding companies.
“We do this by focusing on the region’s best businesses – companies that produce high, sustainable returns while generating sufficient free cashflow to fund their own growth – and by investing with a long-term, absolute-return mindset, to minimise transaction costs and compound returns.”
The Luxembourg-domiciled fund wil be available in US dollar, sterling and euro share classes.
The fund carries an annual management charge of 1% and an initial charge of up to 5%. Minimum investment is $100,000 (£63,206).
Will Dale Nicholls do a better job than Anthony Bolton running the Fidelity China Special Situations trust?