Capital at risk
Growth comes in different forms: firms focusing on disruption, predictable steady compounders and capital allocators. Our flexible growth portfolios offer exposure to all three.
What are flexible growth’s characteristics?
The market tends to value growth categories differently. Disruptors capture opportunity and market share. Their revenues grow rapidly, but their outcomes can be broad. Steady compounders have strong defensible franchises and competitive advantages. This leads to above-average earnings growth over long periods. Capital allocators rely heavily on management’s skill in deploying capital into cyclical opportunities. Combining all three helps reduce volatility while letting us pursue our best ideas.
How do we invest in flexible equity growth?
For each type of growth, we focus on different measures. Sales growth and margin progression for rapid growers. Franchise strength and profitability for steady compounders. And management quality and consistency with long-term business execution for capital allocators.
Flexible equity growth portfolios typically hold 60 to 100 stocks. Turnover is low, typically less than 20 per cent per annum.
Flexible Growth strategies
Asia ex JapanA patient strategy in fast-paced markets. Embrace diverse growth opportunities in the hope of capitalising on inefficiencies.
ChinaA diversified portfolio of 40-80 of the best growth companies in China, regardless of listing location, size or weight in an index.
China A SharesA concentrated portfolio of 25-40 high-growth companies that are listed in China’s domestic market.
Emerging Markets All CapOur longest-standing Global Emerging Markets portfolio, targeting the world’s best Emerging Market companies with a diversified approach.
Emerging Markets ex ChinaSeeking to provide exposure to the best Emerging Market opportunities outside of China, an increasingly common consideration for investors.
Emerging Markets Leading CompaniesA more concentrated Global Emerging Markets portfolio of 35-60 stocks. Seeking strong opportunities to own for the long term.
Global AlphaAmbitious growth investing in exceptional companies, prioritising long-term sustainability and competitive advantages for lasting success.
Global Alpha Paris AlignedClimate-conscious investing in exceptional growth companies worldwide, using investment floor insights to find diverse opportunities.
Global Alpha Paris Aligned Ethically RestrictedResponsibly investing in diverse growth companies, addressing the climate crisis with flexibility and open-mindedness to unlock varied opportunities.
Health InnovationInvesting in solutions-driven healthcare companies addressing societal challenges, with the aim of generating strong returns.
Japan All CapDiscover Japan's untapped potential. Focusing on fundamentals, we try to find mispriced, under-appreciated growth opportunities.
Japan GrowthUnearthing Japan's hidden opportunities, our strategy targets emerging disruptors, strong franchises, and corporate reform for growth.
ManagedWe have 30+ years of experience in uniting exceptional global equity and bond opportunities, balanced with cash for a top-tier idea portfolio.
Pan EuropeWe seek out Europe's standout companies with the potential to deliver exceptional investment returns.
Positive ChangeWe invest in companies that we believe positively impact society and the environment, with the aim of generating attractive returns.
Sustainable GrowthSeeking out companies that could benefit society and shareholders, and deliver lasting growth and positive impact for all.
US AlphaWe focus on growing businesses across diverse opportunities that we hope will drive exceptional returns over time.
All our investment capabilities
Core growthLarge, diverse portfolios of growth-focused holdings built with benchmarks and reduced volatility in mind.
Equity and multi-asset incomeSeeking both dependable income and long-term capital growth.
Fixed incomeTargeting company and government bonds with a focus on long-term outcomes.
Flexible growthPortfolios containing a mix of firms focused on disruption, steady compounding and timely capital allocation.
High growthConcentrated portfolios of fast-growth companies, typically holding between 25 and 50 stocks.