|Asset Group||Asset Sub-Group||Investment Category|
Why we recommend it
The fund is managed by Chris Hiorns, who has been at the helm since 2007. He also has responsibility for multi-asset funds at the group. Support is provided by co-manager David Osfield and Tommy Kristoffersen, plus a five-strong responsible investment team.
Hiorns’ approach is value and contrarian, meaning he invests against the crowd. Ethical and liquidity screens are followed by valuation screens, with the aim of highlighting stocks that are currently out of favour, are more cyclical by nature, or are undergoing what are deemed to be temporary difficulties. Positive environmental, social, and governance (ESG) screening is also employed. Current themes for this are education, health and wellbeing, social infrastructure, and sustainable solutions.
The portfolio consists of 50-70 names and tends to show a bias to mid-caps. Sector biases reflect the current value opportunities available in the market and have seen flexibility over time, while valuation and quality metrics will be lower than its benchmark, FTSE World Europe ex UK. Returns are expected to continue to reflect these biases.
Our positive view of the fund is based upon the differentiated value and sustainable approach which continues to be well implemented.
ii ACE sustainable style: Considers. This means the fund carefully considers an often wide range of ethical and/ or environmental, social and governance (ESG) issues or themes when balancing positive and negative factors.
Fund EcoMarket category: Ethical. These funds consider 'values based' issues like tobacco, gambling and armaments, typically alongside a wide range of environmental and social issues Some funds have strict screening criteria and avoid a significant nuber of companies. Others invest in most sectors, focusing on companies with the highest standards. Strategies vary.
|Information and data compiled to October 2023.|
The information we provide in the ACE 40 investments list does not constitute a "personal recommendation". You should ensure that any investment decisions you make are suitable for your personal circumstances and that the ethical style of the investment reflects your personal beliefs.
Past performance of the underlying constituents is not a guarantee of future performance. Remember, the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.
Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab.
If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor.
Any changes to the ii ACE 40 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Outlook.
Details of all recommendations issued by ii during the previous 12 month period can be found here.
ii adheres to a strict code of conduct. Members of ii staff may hold shares in companies mentioned in the ii ACE 40 investments list, which could create a conflict of interest. Any member of staff intending to complete some research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.
In addition, staff involved in the production of this ii ACE 40 list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the list. This is to avoid personal interests conflicting with the interests of the recipients of this ii ACE 40 investments list.