Stonehage Fleming, the independently owned family office, says its Global Best Ideas Equity fund has seen assets under management pass the £0.5bn mark, as the number of external client investors continues to grow.
Only available since 2016 to investors who are not clients of Stonehage Fleming, the fund is run as a concentrated portfolio of some 24 stocks, and aims for exposure to businesses with sustainable growth potential. Turnover is low, with just two positions sold in the past 12 months and one initiated. Current holdings include Visa, Alphabet, Nestle, Estee Lauder, PepsiCo and Accenture. The investor base includes both private, professional and institutional investors, but more distribution is being considered beyond the current availability via seven platforms in three jurisdictions.
Portfolio manager Gerrit Smit said: “There has been some general nervousness of equities which are now in the eighth year of a bull market, but this needs to be weighed against global economic fundamentals, which in our view continue to favour investment in quality companies. The US consumer and manufacturing sector show strong confidence and economic performance has improved in Europe too. Most importantly, we continue to stick to our philosophy that a good business remains a good business irrespective of potential short-term tactical setbacks in its share price, and it will continue to reward investors over time.”