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Worldwide Leaders
The strategy was launched in November 2013. It invests in the shares of between 30-60 global companies.
A Leaders strategy generally invests in market leading companies which means, for this strategy, that they are valued at over US$5 billion.
You can see all of the companies that this strategy invests in by filtering on our Portfolio Explorer tool.
- We define investment risk as losing clients’ money – this means we focus on looking after your money as well as growing it
- Companies must contribute to sustainable development and make a positive impact towards a more sustainable future. Portfolio Explorer >
- We invest in high-quality companies with exceptional cultures, strong franchises and resilient financials. How we pick companies >
- We avoid companies linked to harmful activities and engage and vote for positive change. Our position on harmful products >
Quarterly updates
Strategy update: Q4 2024
Worldwide Leaders strategy update: 1 October - 31 December 2024
“We are allocating our own money, we act like owners.”1 It’s always pleasing to meet with a company that thinks similarly to us. We are stewards of our clients’ capital, aiming to look after our clients’ savings as well as we would look after our own. Our Hippocratic Oath is is our pledge as an investment team to uphold the principle of stewardship through our conduct and work practices. One key point in the oath is “We will not forget in our search for returns that the primary risk faced by our clients is losing their capital”. The oath underpins our investment philosophy, which is based on identifying quality leaders and stewards of strong business franchises with good long-term growth prospects.
During the quarter we bought five new companies and the quote above is from a meeting with the company management of the first of them. Brown & Brown (United States: Financials) was founded in 1939 and is still led and stewarded by the Brown family. Over the past 85 years, the competent, ambitious and long-term management team has enabled it to grow beyond its Florida base to become the sixth largest insurance broker2 in the United States. The company has also been expanding to Asia and Europe and as the insurance brokerage industry is made up of many small companies, there is plenty more room to grow in the decades ahead.
Carlisle Companies (United States: Industrials) make and sell construction materials, particularly the products needed to roof and waterproof buildings. Using high-quality products in houses leads to better ventilation and protection from weather as well as reducing energy usage and improving longevity. The high demand for new housing across America will provide strong long-term growth opportunities for this company as well as another new purchase, NVR (United States: Consumer Discretionary). Based in Virginia, NVR is the fourth largest homebuilder3 in the United States, focused on building high-quality homes for first-time owners. The management team have lots of experience and a history of using periods of slowdown in the industry to expand their business in a controlled way. This allows them to benefit when housing demand increases.