Legg Mason launches UCITS version of EM fund
Legg Mason, largest active asset management firms with US$754bn AuM, has launched Dublin-based UCITS version of the Legg Mason IF Martin Currie Emerging Markets fund.
The strategy, which was launched in 2015 and is currently available to UK investors via Legg Mason’s ICVC onshore offering, is managed by Kim Catechis, head of Global Emerging Markets at Legg Mason affiliate Martin Currie.
The strategy aims to deliver long-term outperformance by leveraging a proven investment process based on fundamental research and bottom-up stock-picking.
The fund’s objective is to deliver long-term capital growth by investing in sustainable companies from emerging market countries. ESG analysis, which is embedded within the process, allows the team to highlight potential risks and opportunities, and identify areas on which to engage with management, ultimately leading to higher conviction.
Martin Currie currently have A+ ratings in three categories from PRI, having been signatories since 2009. Demonstrating their commitment to company engagement, over the last year, emerging markets team underwent 43 engagements and voted against the company’s management on at least one resolution 27 times in total.
The portfolio aims to hold between 40-60 stocks, with a diversified country allocation and a high active share. The gross-performance of the global emerging markets representative account over the last 12 months was 25.5% compared to the MSCI Emerging Markets index of 16.3% .