Factsheet: Schroder Global Equity Income Z Acc
Global Equity Income
Rated Fund 2015-2018. Takes a patient, value-investing approach
Ian Kelly took over sole responsibility for running this fund in mid 2016, having been a co-manager since 2013. The fund yields 2.9 per cent and pays income half-yearly.He is a member of the company's value investment team, which adopts a contrarian approach. This means he seeks to outperform the market over time by buying stocks for less than their worth. At the same time, he looks for positive and sustainable income trends, aiming to invest in stocks that not only pay a high income at the time of purchase, but also have solid prospects for increasing dividends.In order to find suitable stocks, Kelly combines analysis of global growth trends, interest rate cycles and currencies with analysis at a company level, looking at key metrics such as capital discipline, operational efficiency and stability of earnings.Through this research, he aims to find good opportunities globally to invest in robust, well-managed, cash-generative businesses with sustainable earnings power. As he is buying stocks that are trading at a significant discount to their intrinsic value, this means adopting a long-term investment horizon, waiting for them to come back into favour and for market sentiment to improve, leading to a higher share price.At the end of 2017, the fund had 47 holdings and was less than a third invested in the US, down from nearly 50 per cent a year earlier. The next highest exposures were to Europe and the UK, followed by emerging markets. Overweight sectors included financials, consumer discretionary and energy.
Narrative and ratings content all as of 01 January 2018.See all Money Observer rated funds
|Cisco Systems Inc||4.72 %|
|Eni SpA||4.36 %|
|HSBC Holdings PLC||3.95 %|
|Tesco PLC||3.93 %|
|Ageas NV||3.83 %|
|American International Group Inc||3.71 %|
|BNP Paribas||3.62 %|
|Pearson PLC||3.46 %|
|Centrica PLC||3.15 %|
|International Business Machines Corp||3.04 %|
|United States||33.65 %|
|United Kingdom||20.51 %|
|Asia - Developed||8.28 %|
|Europe - Emerging||5.07 %|
|Financial Services||26.10 %|
|Consumer Cyclical||21.26 %|
|Consumer Defensive||6.53 %|
Ian Kelly – Fund Manager European Equity Fund Manager* – Currently co-manager of the Schroder ISF European Equity Yield and Schroder ISF European Dividend Maximiser – Ian has been working with Sonja Laud in the management of her yield products since February 2010 – Joined Schroders in May 2007 as an analyst specialising in European Insurance and automobiles – Previously completed a PhD in Protein Biophysics at Newcastle University and a Masters degree in Investment Management at Cass Business School, London – CFA Charterholder
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