Our GEM focus team consists of a diverse set of highly experienced managers with clearly defined responsibilities. They work within a unique culture that maximises challenge and debate. These factors are vital to executing our strategy and delivering repeatable performance to investors. Rather than following the herd and being influenced by behavioural biases, our longer-term mindset allows us to focus on sustainable earnings and potentially capture sizeable, mispriced opportunities.

Our investment philosophy

bar

We believe that:

Value style can generate superior long term returns when applied to GEM strategies.

Behavioural biases influence both investor expectations and risk appetites.

Prices frequently move more than is justified due to shifts in investors’ risk perceptions. True underlying value is not always reflected in stock prices. By detaching ourselves emotionally and with rigorous analysis and discipline over a longer time frame, we can exploit these opportunities.

Our investment process

bar

Our bottom-up, valuation-driven investment process has been designed to target mispriced equities in a disciplined and repeatable manner. It consists of four stages:

Idea generation: We use proprietary screens to identify valuation outliers and to systematically exploit behavioural mispricing. In identifying these outliers, we can focus our research resources on only the best ideas.

Fundamental analysis: We conduct extensive fundamental research to understand key drivers of sustainable earnings and valuations, as well as what is being priced by the market. Stocks with the highest shared team conviction and best upside potential make it to our conviction list.

Portfolio construction: We construct the portfolio with our highest conviction ideas while taking into account stock correlations and unintended risks. Stocks from this conviction list become the core positions in our GEM strategies.

Risk control and review: Ongoing review of the portfolio helps instil process integrity and sell discipline. Our robust risk framework is conducted by the GEM focus team, senior management and our independent risk oversight team.

For more information on how to invest in these strategies, contact us here.

Our team

Our team of experts is focused on delivering superior long-term outcomes to investors.

  • Steven Gray, CFA, MBA

    Steven Gray, CFA, MBA

    Portfolio Manager
  • Sang Hoon Lee, CFA, MBA

    Sang Hoon Lee, CFA, MBA

    Portfolio Manager
  • Xiaochong Yao, CFA

    Xiaochong Yao, CFA

    Portfolio Manager
  • Mandeep Sachdeva, CFA, MBA

    Mandeep Sachdeva, CFA, MBA

    Portfolio Manager
  • Samuel Bentley, CFA

    Samuel Bentley, CFA

    Client Portfolio Manager
  • Navin Hingorani, CFA

    Navin Hingorani, CFA

    Portfolio Manager
  • Luiz Pinho

    Luiz Pinho

    Portfolio Manager
  • Manyun Tan

    Manyun Tan

    Portfolio Manager

Insights

View all
Why invest in Global Emerging Market equities now?

in insights

Equity

Why invest in Global Emerging Market equities now?

28 Oct | Samuel Bentley

The US Fed’s rate cutting cycles have historically correlated positively with ...

India and China: Redefining resilience

in insights

Equity

India and China: Redefining resilience

04 Sep

India and China have unique factors which will help them to be more resilient during ...

A durable approach to Japan equities

in insights

Equity

A durable approach to Japan equities

28 Aug | Japan Equity Team

The ongoing structural changes make Japan the stand-out market globally.

30 years of Asian equities: A journey of growth and opportunities

in insights

Equity

30 years of Asian equities: A journey of growth and ...

14 Aug

Asia’s financial markets have been a gateway for investors to tap into the region’s ...

30 years of Asian growth: A story of resilience and untapped potential

in insights

Equity

30 years of Asian growth: A story of resilience and ...

31 Jul

Asia’s growth model has evolved over the last 30 years and the region will continue to ...

Indonesia’s electric vehicle value chain opportunities

in insights

Equity

Indonesia’s electric vehicle value chain opportunities

10 Jul | Equity Team

Indonesia’s growing middle class will underpin vehicle sales.

Vietnam: A unique blend of growth and diversification

in insights

Equity

Vietnam: A unique blend of growth and diversification

26 Jun | Ngo The Trieu

Vietnam equities delivered attractive returns over the last five years.

Why an Emerging Markets ex China strategy still holds value

in insights

Equity

Why an Emerging Markets ex China strategy still holds value

12 Jun | Navin Hingorani

A value-driven EM ex China strategy tends to outperform in the long term.

India elections: Key reforms likely to continue amid coalition dynamics

in insights

Equity

India elections: Key reforms likely to continue amid ...

06 Jun

Key reforms are likely to continue as India’s new government navigates coalition ...

Japan’s small and mid-caps: An overlooked opportunity

in insights

Equity

Japan’s small and mid-caps: An overlooked opportunity

17 Apr | Max Godwin

The pressure to improve balance sheets is growing in Japan; small and mid-cap stocks ...