GaveKal Capital has surpassed USD300 million in assets under management. The firm announced in January that assets had surpassed USD200 million.
Founded in 2008, GaveKal Capital manages the Platform Company Strategy family of products, including the GaveKal Platform Company Fund (NASDAQ: GAVAX) (NASDAQ: GAVIX), the GaveKal Platform Company UCITS Fund (BLOOMBERG: GAVPLAT ID Equity ISIN: IE00B1DS1042) and separate accounts.
The GaveKal Platform Company Fund ranked in the top one per cent of 3,666 funds for total return in Morningstar’s International Stock asset class for the 1-year period ending December 31, 2011.
For the year ending 31 December, 2011, the GaveKal Platform Company Fund institutional-class (GAVIX) shares posted a return of 7.64 per cent, which was 13.18 per cent higher than its benchmark, the MSCI World Index, which closed the year at -5.54 per cent. Over the same period, advisor-class (GAVAX) shares posted a return of 7.17 per cent, 12.71 per cent higher than the benchmark MSCI World Index.
As of December 31, 2011, the since-inception annualised total return for the GaveKal Platform Company Fund Advisor Class was 6.02 per cent, and Institutional Class was 6.39 per cent. The MSCI World Index’s since-inception annualized total return as of 31 December, 2011, was 2.32 per cent. The total annual operating expenses of the Fund are 13.39 per cent and 13.14 per cent and net expenses are 1.50 per cent and 1.25 per cent for the Advisor and Institutional Classes respectively. The inception date for the GaveKal Platform Company Fund is 30 September, 2010.
GaveKal Capital’s Platform Company Strategy products are long-only global equity funds with the aim to outperform the MSCI World Index with lower volatility. The Platform Company Strategy targets “platform companies,” those companies in the developed world that GaveKal identifies as tapping a deep reservoir of intangible capital to generate earnings growth.
Platform companies employ intellectual property, or knowledge, into their products and services, unlike most companies that simply produce commodities or other raw materials. They often possess competitive advantages such as a strong brand, proprietary knowledge or a unique distribution mechanism. GaveKal has developed a proprietary process that seeks to identify companies with histories of demonstrating superior operating results through intelligent application of their knowledge. The investment team has combined more than 16 years of institutional knowledge, advanced technology platforms and thousands of development hours to design the intellectual property behind its process.