Edinburgh-based, privately-owned asset management firm Aubrey Capital Management has launched a Europe ex-UK onshore fund with administrator Smith and Williamson to cater for demand from UK retail and institutional investors for a wholly European strategy.
The SVS Aubrey European Ex-UK fund is domiciled in the UK. It invests in equities of companies listed on the stock exchanges of European countries (excluding the UK). It is a high conviction strategy that aims to provide long term capital growth by focusing on cash generative growth stocks with sound balance sheets and strong ESG credentials.
Aubrey’s founding partner Sharon Bentley-Hamlyn will manage the fund. Sharon has managed Aubrey’s European strategy since its inception in 2008. She is also the head of research, lead manager on two Luxembourg quoted European SICAVs, and the chair of Aubrey’s Sustainability Committee.
Sharon Bentley-Hamlyn, says: “The European economic recovery is now properly underway. We have launched the new fund to offer UK investors access to our market leading European Conviction Fund, minus the UK stocks, which are typically held in separate accounts. Europe is an advanced economy with innovative, leading edge companies which currently have an added tailwind of economic recovery supporting their sales and earnings growth. The new fund comprises a concentrated portfolio of companies with Return on Equity, Earnings Per Share and Cash Return on Assets greater than 15 per cent, which typically have little or no debt.”
“We are seeing astounding levels of innovation within ecommerce, digital services, and the green energy transition,” says Bentley-Hamlyn.
The strategy has outperformed its benchmark, the MSCI Daily Net TR Europe index, returning 132.0 per cent vs 52.8 per cent over the last five years to end June 2021.
