ABN Amro Global Growth is featuring a 1.5% discount on its initial charge as the group moves to prom...
ABN Amro Global Growth is featuring a 1.5% discount on its initial charge as the group moves to promote its global sector investment style.
The £10.4m fund, which is run from Amsterdam, concentrates on what its manager, Edward Niehoff, terms global mega trends.
These five trends include the withdrawal of Government, technological change, demographics, globalisation and environmental imbalance.
Niehoff, who runs an unrestricted portfolio in terms of individual and sector weightings, said these trends can be seen in society and are impacting the way in which companies operate.
He said: "We have an industry approach and do not split the fund by geography. Within the industry itself is where we try and pick the global winners. It does not make sense to pick a company that is based in Europe if it is not globally dominant. As such I would compare a UK to a US bank or Japanese bank, as such I do not hold any Japanese banks."
Within these mega trends, there lies investment opportunities in a variety of sectors, Niehoff said.
The demographic trend has led to a major shift in consumer patterns as there is a larger number of very wealthy older people in the world today. Germany, Italy and France offer some growth opportunities which exploit this particular trend as the ageing population looks to increase their pension expenditures, Niehoff said.
Environmental imbalance focuses on investments in renewable resources, water supply and waste management.
Niehoff said: "Experts predict there will be a lack of drinking water in the future while energy sources are also changing. The performance of windmill companies has been amazing as there has been a global shift to solar and wind power."
When looking at companies, Niehoff, who works alongside some 21 industry analysts, based in Amsterdam, and a further 62 located geographically around the world, concentrates on valuations as well as where the company is in terms of providing shareholder value.
He said: "Look at the hype that surrounded the dot.coms. We did not hold any in the fund as we thought the valuations were totally out of line."
At the moment the fund is geographically split with 52% exposure to the US, 28% in Europe, 7% in Japan and 4% in the UK.
The remainder of the fund is split between Canada, emerging markets, Ireland and a 3% cash weighting.
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