Portfolio Adviser fund AwArds 2008 CAtegory winner
Fund Awards 2008
WINNER
Resolution Hexam Glbl Emerging Mkts
“
An experienced,
enthusiastic and
highly regarded team
of emerging market
specialists who have
continued to deliver
strong returns in a highly
competitive sector
Andy McGuigan, PA Fund
Awards judge
Resolution’s Grant Shotter
Equity newcomer
”
One of the Resolution joint
venture boutiques, Hexam’s
£100m global emerging markets
fund is run by Bryan
Collings, with Grant Shotter as
his co-manager.
Hexam as a fund house has
long believed that emerging
markets show ongoing, secular
strength relative to developed
economies and, while
not quite talking in terms
of decoupling, its relative
strength will show through
given the global nature of current
equity problems.
They are also candid enough
to admit that the “very shortterm
direction of the equity
markets and outlook for the
Quarterly discrete performance
%
20
15
10
-10
-15
5
0
-5
Q1 ’07 Q2 ’07
Source: Morningstar
Q3 ’07
Quartile performance: 1 Jul ’05 – 1 Jul ’08
1st q’tile
2nd q’tile
3rd q’tile
4th q’tile
Q3
’07
Source: Morningstar
Q4
’07
22 Portfolio ADViSEr SuPPlEmEnt [www.portfolio-adviser.com] DEcEmbEr 2008
resolution Hexam global emg Markets vs index
%
40
30
20
10
-10
0
-20
Jul ’07 Sep
Source: Morningstar
Q4 ’07
fund facts
dollar remains opaque”, which
is a concern for all equity
Q1 ’08
Resolution Int’l Hexham Global EM
Q2 ’08
Nov
Fund name: Resolution Hexam Global Emerging Markets Managers: Bryan
Collings, Grant Shotter Launch date: 6 Nov ’06 Fund size: £77m
Initial charge: 5% Ann charge: 1.5% Min initial invest: £2,500 M’star rating: N/A
Q1
’08
Q2
’08
M’star IM Equity Global Emg Mkts
Jan ’08
Mar
managers not just emerging
market managers.
The fund’s top five active
positions include three of the
BRIC quartet – Brazil (2.2%),
Russia (8.2%) and China (5.3%)
– as well as Indonesia (1.7%)
and South Africa (1.3%).
The managers are continuing
to back Russia and China,
commenting that both countries’
economic balances are
solid enough to prevent any
serious external shocks.
“The financial systems
remain robust with a low
probability of any significant
debt default problems,” they
confidently claim.
They are also more bullish
on both their property markets
compared to the slump
seen in developed markets;
their currency outlooks are
good for the medium term;
and, particularly in Russia,
distressed valuations provide
great opportunities.
May
Jul
To view a Ceros magazine you need to have JavaScript enabled in your browser and have the flash player 8 or higher installed. To install the latest flash player, click the icon above, install the flash plugin and then click here to refresh this page.