Smith & Williamson Investment Management has unveiled a new emerging markets fund focusing on undervalued companies.
Known as Smith & Williamson Emerging Markets Value fund, the fund will managed by Richard McGrath of AGF Management, a minority stakeholder in Smith & Williamson.
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The new fund has been designed to generate long term capital growth together with some income by investing in undervalued companies.
The fund, which will hold between 50 and 90 stocks on undervalued companies with market capitalisation of at least $500 million, will follow a value investment approach called 30/30/30.
The approach will require a stock’s current price to be at least 30% below the high of the past 18 months with a P/E at least 30% lower than its relevant market index, and a dividend yield of at least 30% above its relevant market index.
The fund will have an AMC of 0.85% and an OCF of 1.1%.
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By GlobalData
