IDENTIFYING VALUE

Traditional Approach

Country modules are equal-weighted.

Traditional Approach - customized

Within customized regions country modules are equal-weighted.

Unconstrained Approach

Country weights are a result of relative attractiveness of a country's stocks.

 
 

Traditional Approach

Country modules are equal-weighted.

Traditional Approach - customized

Within customized regions country modules are equal-weighted.

Unconstrained Approach

Country weights are a result of relative attractiveness of a country's stocks.

Portfolio Construction

We offer three different portfolio construction alternatives:

   

1. Traditional Approach:

Traditional Approach
Traditional Approach
  • Equal-weighting of all country modules within the portfolio. Smaller countries are combined to country modules.
 
  • Equal-weighting of all stocks within each country module.
 
  • The total number of securities in a country module varies according to region; larger markets (USA, Japan, UK) typically yield more candidates, which is reflected in a higher than average number of names within those country’s respective portfolios.
 
  • Sector allocation is an indirect result of our bottom-up investment approach.

 

2. Traditional Approach - customized:

Traditional Approach - customized (Example for equal-weighting of regions)
Traditional Approach - customized (Example for equal-weighting of regions)
  • Individual weighting of regions (e.g. Europa, Asia, Emerging Markets).
 
  • Equal-weighting of all country modules within the individually selected regions.
 
  • Equal-weighting of all stocks within each country module.
 
  • The total number of securities in a country module varies according to region; larger markets (USA, Japan, UK) typically yield more candidates, which is reflected in a higher than average number of names within those country’s respective portfolios.
 
  • Sector allocation is an indirect result of our bottom-up investment approach.

 

3. Unconstrained Approach: 

Unconstrained Approach
Unconstrained Approach
  • Country allocations are directly the result of our bottom-up stock selection process.
 
  • Each country’s weight is determined by the country's representation within the first quintile of the global CHICCO Ranking.
 
  • As a consequence, country allocations are flexible and reflect the relative attractiveness of individual stocks based upon our fundamental screenings.
 
  • Sector allocation is an indirect result of our bottom-up stock selection process.
 
  • Equal-weighting of all stocks within the Portfolio.
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