Eurozone is a mid-to-large-capitalisation eurozone equity strategy with strong emphasis on alpha generation over the long-term. A typical portfolio would usually consist of 30 to 60 high-conviction bottom-up ideas that are generated within a clear thematic framework. Technical and macro overlays are deployed which are complementary to our fundamental bottom-up approach to stock selection as companies operate in the real world and not a vacuum.
We analyse and value stocks in an absolute sense based on their own merits, as we feel that the benchmark is there to be beaten rather than clung to. This approach leads to a strategy with very high levels of conviction, with all stocks held for a clear and positive reason. The structure of the strategy in terms of stocks held, sector positioning and residual country exposure, therefore reflects the availability of good ideas and hence the number of names held will vary to reflect the prevailing economic and market conditions.
Past performance is not a reliable indicator of future results and targets are not guaranteed.