Stewart Investors announces the re-opening of the Stewart Investors Indian Subcontinent Fund
Stewart Investors has today announced the re-opening of the Stewart Investors Indian Subcontinent Fund from 1 December 2017. The upfront charge of 4% will be removed from the fund from this date. The charge was introduced on 1 January 2012 because of concerns that the fund would grow too large and dilute the quality of companies held in it.
This document is a financial promotion for the Stewart Investors Indian Subcontinent Fund for retail clients and professional clients in the UK and professional investors elsewhere where lawful. Investing involves certain risks including:
The value of investments and any income from them may go down as well as up and are not guaranteed. Investors may get back significantly less than the original amount invested.
Currency risk: the funds invest in assets which are denominated in other currencies; changes in exchange rates will affect the value of the funds.
Emerging market risk: emerging markets may not provide the same level of investor protection as a developed market; they may involve a higher risk than investing in developed markets.
Reference to specific securities (if any) is included for the purpose of illustration only and should not be construed as a recommendation to buy or sell. Reference to the names of any company is merely to explain the investment strategy and should not be construed as investment advice or a recommendation to invest in any of those companies.
For a full description of the terms of investment and the risks please see the Prospectus and Key Investor Information Document. If you are in any doubt as to the suitability of our funds for your investment needs, please seek investment advice.
Since 2012, the stock markets of the Indian subcontinent have grown substantially due to new listings and strong performance. Portfolio Manager Sashi Reddy, member of the Sustainable Funds Group, comments: “Over 100 companies have listed on the Indian stock market since the soft-closing of the fund and the overall size of the market has doubled. As a result, our universe of quality companies has grown substantially. Bangladesh, Pakistan and Sri Lanka have also seen further listings, widening the range of investment opportunities in the subcontinent.”
Stewart Investors remains positive about the long-term investment potential for the Indian subcontinent. The region is home to roughly 23% of the world’s population and countries are still in an early stage of development, offering good investment opportunities for well-placed companies. Although the area faces serious developmental challenges, Stewart Investors believes that long-term capital can play an important role in managing these. The subcontinent offers a wide universe of quality companies which are family-owned and/or managed.
For more details about the long-term investment case for the Indian subcontinent, see the article ‘Why we invest in the Indian subcontinent’ which is available on the Stewart Investors website.
For further information please contact:
Notes to Editors:
Funds under Management*
$30.3 billion (US Dollars)
EUR 25.7 billion
*FuM (funds under management) figures are as at 30 September 2017.
About Stewart Investors:
Stewart Investors is an investment business, managing portfolios on behalf of clients in Asia Pacific, Emerging Markets, Worldwide and Sustainable Development equity investment strategies. With offices in Edinburgh, London, Singapore and Sydney, we have a distinct culture and investment philosophy which is unchanged in more than two decades, since the launch of our first investment strategy in 1988.
Our Investment Philosophy
Stewardship: At the heart of our investment approach is the concept of stewardship. We believe our job is to allocate our clients’ capital to good quality companies with sound growth prospects and strong management teams, ensuring we pay sensible prices for these investments. Each investment is a decision to purchase, on behalf of our clients, not a piece of paper or an electronic ticker, but part of a real business with all the rights and responsibilities that go with this. We take these rights and responsibilities seriously. We also believe the way we behave as investment professionals and the role we play in the broader industry are important in this regard.
Risk: We define risk as the risk of losing our clients’ money, rather than in terms of deviation from any benchmark index. We focus as much on the potential downside of each investment decision as on the anticipated upside.
Long-term: We are long-term investors and strive to make investment decisions with a five-year time horizon. We are incentivised accordingly.
Bottom-up: We invest in companies, not sectors or countries. Our starting point is always to find good quality companies. Only then do we consider the political and economic environment in which they operate.
Quality: We emphasise the importance of the quality of company management and spend a great deal of time focusing on areas such as management integrity, corporate governance and the historic ability to develop and execute successful long-term strategies. Quality of the business franchise and the financials are also critical.
Growth: Our preference is to invest in companies which are able to generate a steady, predictable growth in cashflows over the long-term, recognising that companies growing too fast usually come unstuck.
Valuation: We strive to ensure we pay sensible prices for our investments. We believe every company of sufficient quality has a fair value and that there is no single catch-all valuation methodology to assess this fair value.
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