Natixis Global Associates (NGA), the distribution arm of Natixis Global Asset Management (NGAM), has launched the Harris Associates Concentrated US Value Fund for UK investors.
The fund invests in US equities, with a highly concentrated portfolio of approximately 20 US stock holdings of large- and mid-capitalisation companies. The fund’s objective is the long-term growth of capital, resulting from investing in a limited number of US stocks.
Harris Associates, an affiliate of Natixis Global Asset Management, follows a strict, value-oriented investment approach. It seeks to identify companies whose stocks trade at a substantial discount to Harris’ estimate of their intrinsic value, with growing free-cash flow and intelligent use of that cash, and with management teams that think and act like owners. In developing its estimates of intrinsic value, Harris uses a private-equity approach to publicly traded stocks.
Hervé Guinamant (pictured), president and CEO, Natixis Global Associates International, says: “We believe that the Harris Associates Concentrated US Value Fund offers excellent potential for strong long-term performance, thanks to the rigorous process for selecting US value stocks and the greater potential impact on returns from its concentrated structure. In these challenging economic times, the Harris approach allows investors to think past short-term market movements and build durable US equities exposure.”
The fund is managed by an experienced team led by Robert Levy, chief investment officer for US equities, and Mike Mangan and Edward Loeb, both portfolio managers at Harris Associates. The managers are supported by fundamental research produced by a large and seasoned group of US equity analysts.
The Fund is a sub-fund of Natixis International Funds (Lux) I, an open-ended Luxembourg-domiciled UCITS, and is available in Great Britain pounds. A full description of fund characteristics can be found in the prospectus.