Ashburton Investments has received Financial Services Board (FSB) approval to distribute its Global Leaders Equity Fund to South African investors.
With AUM equivalent to ZAR583 million (US$54.5 million), the fund offers a concentrated global portfolio of around 20 shares which are expected to produce above average total returns over the medium to long term.
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According to Ashburton, the Global Leaders fund is a Undertakings For Collective Investment In Transferable Securities (UCITS) compliant.
Veronika Pechlaner, who manages the Ashburton Global Leaders Equity Fund alongside investment director Nick Lee, said: "Our focus is on finding twenty quality mega caps which are global leaders within attractive industries.
"Through their market position and sustainable competitive advantage we expect these global leaders to consistently generate and grow excess cash returns over their cost of capital, part of which they will return back to shareholders in the form of dividends and share buybacks."
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