Swiss banking group SYZ & CO has launched OYSTER European Selection, a new sub-fund of its OYSTER Luxembourg UCITS SICAV, based on OYSTER’s highly successful OYSTER European Opportunities fund.
The fund is managed by Eric Bendahan (pictured), a very experienced European equities specialist with a solid track record, and focuses on his long-term high-conviction stock picks. OYSTER European Selection is essentially aimed at an institutional client base with a time horizon of over 5 years. It will be registered shortly in several countries in Europe and Asia.
OYSTER European Selection adopts the same essence and philosophy as that of the highly successful OYSTER European Opportunities strategy and, thanks to its longer-term approach, takes full advantage of Eric Bendahan’s expertise and strong convictions. Adapted to the needs of the institutional client base, the focus of the strategy is on European stocks with strong growth potential over the next five years. This time horizon allows Eric Bendahan to focus on longer-term stories, hence leading to an increased selectivity in stocks (i.e. 40 – 50 stocks for OYSTER European Selection vs 70 – 90 stocks in OYSTER European Opportunities).
OYSTER European Selection’s strategy is style-agnostic. Stock-picking is central to the approach and is expected to be the main source of alpha generation. Investments are based on strong bottom-up convictions. The turnover of OYSTER European Selection is expected to be lower (50-60% vs 80-130%) than that of the OYSTER European Opportunities strategy.
“The current market dislocation generates very interesting buying opportunities for long-term investors,” says Bendahan. In today’s challenging environment, OYSTER European Selection’s investment positioning favours companies that are related to the thriving emerging market economies, quality growth stocks and undervalued positions. These stocks now offer attractive entry points for long-term oriented stock pickers and should ultimately be rewarded by the market.”