We consider portfolio construction with equal importance to the research process...
High conviction, quality growth portfolio
The portfolio managers’ investment approach is focused on making long-term investments in quality growth companies in a high conviction portfolio of 20-40 stocks – backed by proprietary systematic fundamental research.
Focused on long-term structural growth – three long-term mega-trends of Demographic Changes, the Future of Technology and Resource Scarcity guide our fundamental research.
Proprietary ESG analysis is integrated throughout the fundamental research process – capturing the complexity of ESG risks facing a company’s long-term outlook and sustainability. We analyse 52 governance and sustainability parameters with a further 20 dedicated to social exploitation.
Portfolio construction emphasis to ensure diversification – we consider portfolio construction with equal importance to the research process – focusing on five areas: long-term thematics, geographic revenue and profit, end user market exposure, company classifications and industry lifecycles. These aid the portfolio’s diversity, risk management and capture of long-term growth.
Strong foundations for long-term growth
Three years of top decile performance
Manager with long-term track record of managing European equites
Established fund with c. US$300 million in AUM
Martin Currie PRI rating (triple A+) for 4 years in a row.
Highest possible ratings by PRI 2017, 2018, 2019, 2020
Industry ESG recognition
Holder of highest Morningstar Sustainability Rating™.
Past performance is not a guide to future returns. The return may increase or decrease as a result of currency fluctuations.
Source: Franklin Templeton, Martin Currie and Morningstar Inc as at 9 November 2021. Legg Mason Martin Currie European Unconstrained X EUR Acc Fund shown in €. Net data is presented net of investment advisory fees, broker commissions, and all other expenses borne by investors. An annual fee rate of 0.75% has been applied for the net data. The figures provided include the re-investment of dividends. Please note that this fund is unconstrained by any benchmark. We show it against the MSCI Europe (Net Dividend) for illustrative purposes only. Inception 9 November 2018. Upside, downside capture and beta shown to 31 October 2021. Sharpe Ratio uses U.S. Treasury three-month Treasury Bill.
Source Martin Currie, Franklin Templeton, Morningstar and PRI as at 19 November 2021. Legg Mason Martin Currie European Unconstrained X EUR Acc Fund shown in €. Net data is presented net of investment advisory fees, broker commissions, and all other expenses borne by investors. An annual fee rate of 0.75% has been applied for the net data. The figures provided include the re-investment of dividends. Peer group ranking is 9 November 2021. Latest PRI A+ ratings relate to Strategy & Governance, Incorporation and Active Ownership activity for the period 1 January 2019 – 31 December 2019. A copy of the PRI’s assessment of Martin Currie and methodology is available on request. Morningstar Sustainability rating. Out of 2679 Europe Equity Large Cap funds as of 30 September 2021. Based on 96% of eligible corporate AUM. Data is based on long positions only.
Regulatory information and risk warnings
Legg Mason Martin Currie European Unconstrained Fund – Fund Risks
Investment in company shares: The fund invests in shares of companies, and the value of these shares can be negatively affected by changes in the company, its industry or the economy in which it operates.
Geographical focus: This fund invests primarily in Europe, which means that it is more sensitive to local economic, market, political or regulatory events in Europe, and will be more affected by these events than other funds that invest in a broader range of regions.
Concentrated fund: The fund invests in fewer companies than other funds which invest in shares usually do. This means that the fund does not spread its risk as widely as other funds and will therefore be affected more if an individual company has significant losses.
Fund currency: Changes in exchange rates between the currencies of investments held by the fund and the fund's base currency may negatively affect the value of an investment and any income received from it.
Derivatives: The use of derivatives can result in greater fluctuations of the fund’s value and may cause the fund to lose as much as or more than the amount invested.
Fund operations: The fund is subject to the risk of loss resulting from inadequate or failed internal processes, people or systems or those of third parties such as those responsible for the custody of its assets. All Information as at 31 October 2021, unless otherwise stated.
This document is based on an update from Martin Currie Investment Management, a subsidiary of Franklin Templeton. The views expressed are opinions of the Portfolio Management team as of the date of this material and are subject to change based on market and other conditions without notice and may differ from other investment professionals or from those of the firm as a whole.
This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security, or fund, or to adopt any investment strategy. It does not constitute legal or tax advice. The information provided in this material is not intended as a complete analysis of every material fact regarding any country, region or market.
This is a sub-fund of Legg Mason Global Funds plc (‘LMGF’). LMGF is an open-ended investment company with variable capital, organised as an undertaking for collective investment in transferable securities (‘UCITS’). LMGF is authorised in Ireland by the Central Bank of Ireland. Information has been prepared from sources believed reliable. It is not guaranteed in any way by any Franklin Resources, Inc. company or affiliate (together ‘Franklin Templeton’). Before investing you should read the application form Prospectus and KIID. The fund documents may be obtained free of charge in English, French, German, Italian and Spanish from LMGF’s registered office at Riverside Two, Sir John Rogerson’s Quay, Grand Canal Dock, Dublin 2, Ireland, from LMGF’s administrator, BNY Mellon Fund Services (Ireland) Limited, or please visit www.franklinresources.com to be directed to your local Franklin Templeton website. Individual securities are examples only and are not recommendations to buy or sell an investment. Opinions expressed are subject to change without notice and do not consider the needs of investors.
Sustainability Rating as of 30 September 2021. Corporate and Sovereign Sustainability Score and Investment Style as of 30 September 2021. Morningstar’s Sustainability Score incorporates Sustainalytics’ company and country-level analysis.
© 2021 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
In addition, a summary of investor rights is available from summary-of-investor-rights.pdf (franklintempleton.lu). The summary is available in English.
The sub-funds of LMGF are notified for marketing in multiple EU Member States under the UCITS Directive. LMGF can terminate such notifications for any share class and/or subfund at any time by using the process contained in Article 93a of the UCITS Directive.
In Europe (excluding UK & Switzerland) this financial promotion is issued by Franklin Templeton International Services S.à r.l. – Supervised by the Commission de Surveillance du Secteur Financier – 8A, rue Albert Borschette, L-1246 Luxembourg – Tel: +352-46 66 67-1 – Fax: +352-46 66 76.
In the UK this financial promotion is issued by Legg Mason Investments (Europe) Limited, registered office 201 Bishopsgate, London, EC2M 3AB. Registered in England and Wales, Company No. 1732037. Authorised and regulated by the UK Financial Conduct Authority.
In Switzerland, this financial promotion is issued by Franklin Templeton Switzerland Ltd. Investors in Switzerland: The representative in Switzerland is FIRST INDEPENDENT FUND SERVICES LTD., Klausstrasse 33, 8008 Zurich, Switzerland and the paying agent in Switzerland is NPB Neue Privat Bank AG, Limmatquai 1, 8024 Zurich, Switzerland. Copies of the Articles of Association, the Prospectus, the Key Investor Information Documents and the annual and semi-annual reports of the Company may be obtained free of charge from the representative in Switzerland.
German investors: The prospectus, Key Investor Information Document, annual report and semi-annual report are available free of charge from the German Information agent [Franklin Templeton International Services S.a.r.l., Niederlassung Deutschland, Postfach 11 18 03, 60053 Frankfurt a. M., Mainzer Landstraße 16, 60325 Frankfurt a. M.] or from www.franklintempleton.de.
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