London-based Heptagon Capital has announced plans to roll out and distribute a UCITS-III version of the Yacktman US Eq
London-based Heptagon Capital has announced plans to roll out and distribute a UCITS-III version of the Yacktman US Equity Fund, a USD3billion US equity fund, on 1st December. By choosing Texan-based Yacktman Asset Management as the sub-investment manager for the Dublin-domiciled fund, Heptagon will be able to offer UK investors exposure to US equity markets. Yacktman’s fund, which employs a long-only value-focused strategy and which is 100 per cent owned by employees, has consistently ranked in the top 1 per cent of its peers in Morningstar’s US large-cap sector over three, five and 10 years. CIO Donald Yacktman (pictured) heads up the team, managing a portfolio that is restricted to fewer than 50 large-cap companies. For 2H10, the US Equity Fund has been overweight in consumer discretionary and staples, underweight in technology, industrials and financials. Commenting on Heptagon’s decision to choose Yacktman, Chief Executive Tarek Mooro said: “We have never bought in to the common refrain the US equity market is too efficient for traditional stockpickers to produce alpha, and the relative performance of Yacktman since launch in 1992 is a clear reflection of this. The team’s willingness not to focus too closely on the benchmark is also an investment approach that appeals to us.” Donald Yacktman himself is a true industry veteran, with 40 years’ experience managing US equities. “We are very impressed with the Heptagon team and are confident that we have found the right partners to help us deliver our investment approach to international investors,” commented Yacktman.
