Smith & Williamson launches '30/30/30' EM fund

The Emerging Markets Value fund seeks to achieve long-term capital growth, as well as income, by investing in undervalued companies with a strong franchise. McGrath is based at AGF, a minority shareholder in Smith & Williamson Holdings, which also manages the Smith & Williamson Global Gold and Resources fund. The fund will hold 50-90 stocks, each with a market capitalisation of at least $500m, and use a proprietary '30/30/30' investment process. Stocks must have a price to earnings ratio at least 30% lower than that of the relevant index, a dividend yield of at least 30% above the ...