BrandyWine
STANLIB Asset Management has adopted a multiple specialist approach to managing the various asset classes. As part of this approach, we have outsourced the management of our offshore fixed interest solution to Brandywine Global Investment Management.
In managing STANLIB’s Fixed Interest mandates, Brandywine aims to do the following:
- Outperform the Barclays Capital Aggregate Global Index by at least 2% annually over a market cycle (approx. three to five years).
- Provide long-term returns in excess of the rate of inflation.
- Provide capital preservation through focus on undervalued securities.
The investment process focuses on the following:
- Investing in bonds with the highest real yields
- Managing currency in a way that is designed to protect principal and increase returns
- Patiently rotating among countries
- Controlling risk by purchasing undervalued securities
Brandywine Global believes in Value Investing; Active Management; Absolute Return and Mean Reversion.
Origin
STANLIB Asset Management has adopted a multiple specialist approach to managing the various asset classes under its control.
As part of this approach, we have outsourced the management of our offshore equity solution to Origin Asset Management, an investment management boutique that specialises in Global and UK equity portfolio management for institutional clients.
Origin was founded in May 2005 by a team of investment professionals that now have over 90 years of combined experience in the industry.
The factors that appealed to STANLIB in selecting Origin as an offshore partner were the following key strengths:
- They form an experienced and cohesive team.
- There is an alignment of client and manager interests: all the partners have invested their own capital in the business.
- They have a clear, logical and systematic investment process.
The investment philosophy is based on selecting shares on the basis of evidence, not opinion. The team employs a purely bottom-up approach to build a portfolio of companies that share four very specific characteristics:
- Well-managed
- Undervalued
- Demonstrating improving operating performance
- Already possessing a rising share price relative to the market
These criteria are measured objectively using publicly available financial data, earnings forecasts and historic share price information. Empirical evidence demonstrates that these four factors are effective across geographic regions, economic sectors and even different time periods. Any one of the factors could be used individually as the basis for a value adding strategy, but when they are used in combination, they offer stronger out-performance and lower volatility of returns.
Fidelity
Fidelity International, established nearly 40 years ago, has portfolio management and research staff in 12 financial centres around the world and offices in 23 countries. Fidelity International and its subsidiaries manage assets worth USD 141.8 billion.
Global investment approach
The cornerstone of Fidelity’s investment approach is research. As well as studying financial results, analysts and fund managers visit companies, meet their managers and talk to suppliers, customers and distributors, giving the investment team a clear 360° view of each company they invest in.
The investment teams are based in London, Frankfurt, Paris, Hong Kong, Tokyo, Singapore, Seoul, Delhi, Mumbai and Sydney. In addition, the teams can draw on the research carried out by US affiliate Fidelity Management & Research; this brings the total number of Fidelity research professionals to 400.
This expertise forms the bedrock for Fidelity’s comprehensive range of funds.