About European Long-Term Unconstrained
The strategy is designed for investors seeking sustainable long-term outperformance of the market from a high conviction portfolio, backed by proprietary and systematic fundamental research.
The strategy’s portfolio of 20-40 quality growth companies offer sustainable growth and resilience to economic uncertainty.
Our three long-term mega trends of demographic change, the future of technology and resource scarcity, guide our proprietary fundamental research and portfolio construction. This allows us to invest on multi-decade investment horizon to meet client requirements for sustainable long-term returns.
Proprietary fundamental research can identify long-term value-creating companies undervalued by the market. We elaborate on this below:
- The market is myopic and fades returns of quality companies too fast
- Our proprietary fundamental research framework is able to identify these companies
- Value creating companies compound returns over the long-term
We consider portfolio construction with equal importance to the research process, employing the same high-quality data from the research process. Here we focus on five areas – long-term thematics, company classifications, geographic revenue/profit, end user markets and industry lifecycles. These aid our understanding of the portfolio’s diversity, effectively manage risk and ensure we are positioned to capture long-term growth.
| Portfolio characteristics | European Long-Term Unconstrained |
|---|---|
| Benchmark | Unconstrained |
| Performance objective | Long-term capital appreciation |
| Market capitalisation | Mid- and Large-Cap |
| Forecast tracking error | N/A |
| Sector/country allocations | Unconstrained |
| Number of stocks | 20-40 |
| Maximum active stock weight | 10% |
| Portfolio turnover | < 25% per annum |
| Inception | November 2018 |
Podcast: Anatomy of the market recovery
We could therefore get to a point of ‘bottoming’ in earnings downgrades much more rapidly than in previous recessions
Zehrid Osmani
Portfolio Manager
Zehrid Osmani
- Job title
- Head of Global Long-Term Unconstrained
- Experience
- 22 years
Ken Hughes
- Job title
- Portfolio Manager
- Experience
- 26 years
Amanda Whitecross
- Job title
- Portfolio Manager
- Experience
- 26 years
Yulia Hofstede
- Job title
- Portfolio Manager
- Experience
- 11 years
Robbie McNab
- Job title
- Portfolio Manager
- Experience
- 12 years
Roberto Venanzio
- Job title
- Investment Analyst
- Experience
- 4 years
Sam Cottrell
- Job title
- Investment Analyst
- Experience
- 5 years
Zoe Hutchison
- Job title
- Investment Analyst
- Experience
- 4 years
Jonathan Regan
- Job title
- Investment Analyst
- Experience
- 4 years
We focus on sustainable businesses with good compounding characteristics, backed by low disruption risk, strong pricing power, good ESG credentials and high management quality.
How to invest
We offer investors access to our strategies through a segregated account or a range of pooled vehicles.
Please contact us to discuss the most appropriate investment to meet your requirements.
How to invest
Martin Currie is an independently managed investment affiliate of Legg Mason, one of the world’s largest asset management firms.
Legg Mason is responsible for the sales and client service of our funds for financial advisers and individual investors.
If you would like to find out more about these funds, please visit the Legg Mason website.
How to invest
Martin Currie is an independently managed investment affiliate of Legg Mason, one of the world’s largest asset management firms.
Legg Mason is responsible for the sales and client service of our funds for financial advisers and individual investors.
If you would like to find out more about these funds, please visit the Legg Mason website.
How to invest
Martin Currie is an independently managed investment affiliate of Legg Mason, one of the world’s largest asset management firms.
Legg Mason is responsible for the sales and client service of our funds for financial advisers and individual investors.
If you would like to find out more about these funds, please visit the Legg Mason website.
Related insights
-
Podcast: Interrogating the earnings outlook
Zehrid Osmani’s latest podcast focuses on the scale of current earnings revisions and explains his playbook for assessing these risks in a long-term investment case.
- Date published
- 7 May 2020
- Tag
- Covid-19
-
Stewardship Annual Report 2020
We can help create long-term sustainable value for our clients by using one of our most powerful tools – engagement.
- Date published
- 26 Apr 2020
- Tag
- Stewardship & ESG
-
Podcast: Anatomy of the market recovery
In his latest podcast, Zehrid Osmani, dissects the equity market rebound, asks if it is sustainable or a bear market rally, and what the shape of the longer-term recovery will be.
- Date published
- 21 Apr 2020
- Tag
- Covid-19