Mon, 02/06/2014 - 15:00
Mirabaud Asset Management has launched the Global Equity High Income Fund with assets in excess of USD25m following a six-month incubation period.
It is a sub-fund of the Mirabaud Luxembourg Sicav.
The fund will be managed by Kirill Pyshkin who joined Mirabaud earlier this year from Aviva Investors where he was a senior fund manager, global equities.
The Mirabaud Global Equity High Income Fund aims to deliver attractive and growing income from dividends, at least 25 per cent higher than that available on the broad equity market and growing above inflation, with potential for capital appreciation. Pyshkin intends to achieve this in a well-diversified, high-conviction, concentrated global equities portfolio, with overall lower level of risk and volatility than the broad all-countries equity index (MSCI AC World).
Pyshkin says: “Our investment philosophy is that of value investors with focus on income; so we buy companies with higher than average and sustainably growing dividends that are attractively valued. However, we focus on companies that fall under our castle, moat and goldmine (CMG) definition – that is, companies that are financially strong, well-managed and operating in attractive industries with defendable business models.
“Given our long term investment horizon and concentrated nature of our portfolio we always aim to meet the company management prior to buying it for the fund to better understand the strategy, operating environment and attitude to shareholders. Strict sell discipline utilises price targets that are reviewed regularly by dedicated analysts.”
The fund will be co-managed by Anu Narula, the head of the global equity team, who joined last year from Axa Framlington where he also lead managed the global income fund.
Lionel Aeschlimann, partner and head of asset management at Mirabaud, says: “Managed by a fund manager of the calibre of Kirill Pyshkin, this fund will make a very strong addition to Mirabaud’s UK based asset management offerings. We are confident that he will generate excellent long-term results for our clients. We are also very excited about entering the Irish market where Kirill is already well known and respected through his excellent stewardship of the High Yield Equity fund.”
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