Morgan Stanley joins stellar Ashburton Global Leaders Equity Fund as sub-investment manager

12 November 2024

A month since announcing its partnership with international investment powerhouse Morgan Stanley Investment Management Limited (MSIM), South African fund manager Ashburton Investments is celebrating the second milestone in the historic deal. Morgan Stanley is now the new sub-investment manager of the Ashburton Global Leaders Equity Fund - the cherry on top of the fund’s 10-year birthday cake and already strong performance track record.

“The Global Leaders Equity Fund is the best way for investors to start accessing MSIM’s incredible global capabilities. MSIM’s role as sub-investment manager was operationalised on 3 October. This is an important next step in the partnership process and will be welcome news to all those who submitted queries about how they could access the new offshore investment capabilities of our combined Ashburton and MSIM teams,” said investment manager Kathy Davey.

The partnership enhances the international capabilities for Ashburton’s clients, who benefit from MSIM’s research and portfolio management experience in global equity markets.

10 years of great global returns

“We’re very happy with the Ashburton Global Leaders Equity Fund’s performance to-date and believe it can only go from strength to strength with the might of Morgan Stanley behind us,” says Davey.

Key performance indicators (USD):

• Year to Date: 13.28%
• 1 Year: 21.30%
• 3 Years: 6.19%
• 5 Years: 8.71%
• 10 Years: 7.67%
• Since launch: 7.48% per annum
• Fund size: $186.64 million

The Ashburton Global Leaders Equity Fund’s performance against other global large-cap blend equity funds

The Ashburton Global Leaders Equity Fund’s performance against its peers in the institutional class

“The fund was launched on 2 September 2013, so we have just passed its 10-year track record. The fund sits at a size of $186.64 million, and is a concentrated equity strategy that offers a differentiated approach to investing in global stocks. Essentially, the fund’s strong numbers and Morgan Stanley coming on board as the best sub-investment manager we could have hoped for, is a lovely birthday present to the fund,” says Davey.

Explaining some more features of the fund, she says it is domiciled in Luxembourg while providing returns on a US dollar basis, it is denominated in a range of currencies, and it is specifically for institutional investors who can start on a minimum investment of *$100,000 or currency equivalent, and have the patience for a long-term investment horizon. The fund fits into the Global Large-Cap blend equity peer group and is designed for investors wishing to participate in the capital markets. The average growth rate of the fund over 10 years is 6.64% on the retail investor side and 7.67% on the institutional investment side.

“The fund was designed with the potential to earn high quality risk-adjusted returns from a concentrated portfolio of the world’s large cap companies, household names and industry leaders, providing investors peace of mind. Its concentrated equity strategy offers a differentiated approach to investing in global stocks. We generate attractive returns by investing in high-quality businesses, characterised by powerful intangible assets, high returns on operating capital employed and strong free cash flow generation. To help achieve this objective, the strategy employs a “buy-and-hold” approach to construct a concentrated portfolio, with stock selection informed by rigorous fundamental analysis.”

Note:

*or a minimum investment of $10,000 or currency equivalent for retail investors

The above performance information related to the institutional side of the fund.

Disclaimer:

Waystone Management Company (Lux) S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF) (ref A00000395 & S00000734), Waystone Management Company (Lux) S.A. is a company located in Luxembourg, L-1273 Luxembourg at 19, Rue de Bitbourg. This document is Issued by Ashburton Fund Managers (Pty) Limited (The Investment Manager) (Reg number 2002/013187/07), which has its registered office at 3 Merchant Place, 1 Fredman Drive, Sandton, 2196, South Africa and is an authorised financial services provider (FSP number 40169), registered with the Financial Sector Conduct Authority (FSCA). ASHBURTON GLOBAL LEADERS EQUITY FUND is authorised in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF).

In South Africa, the Fund(s) is/are approved for promotion under section 65 of the Collective Investment Schemes Control Act 2002. The Fund Prospectus, and further information including pricing and changes, may be viewed at the Fund’s representative office in South Africa: Ashburton Management Company (RF) Proprietary Limited (“Ashburton CIS”), of the same address. Ashburton CIS is an approved collective investment schemes manager regulated by the Financial Sector Conduct Authority and a full member of the Association of Saving and Investments South Africa. In the event a potential investor requires material risks disclosures for the foreign securities included in a portfolio, the manager will upon request provide such potential investor with a document, outlining potential constraints on liquidity & repatriation of funds; Macroeconomics risk; Political risk; Foreign Exchange risk; Tax risk; Settlement risk; and Potential limitations on the availability of market information.

The value of participatory interests and the income from them may go down as well as up and is not guaranteed. Past performance is not necessarily a guide to the future performance. Where an investment involves exposure to a currency other than that in which it is denominated, changes in rates of exchange may cause the value of the investment to go up or down. CIS portfolios are traded at ruling prices and can engage in borrowing and scrip lending. A full detailed schedule of fees, charges and commissions is available from Ashburton on request and incentives may be paid and if so, would be included in the overall costs. The manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The manager has a right to close the portfolio to new investors in order to manage the portfolio more efficiently in accordance with its mandate. This document does not constitute an offer or solicitation to any person in any jurisdiction in which Ashburton Fund Managers (Pty) Limited is not authorised or permitted to communicate with potential investors, or to anyone who would be an unlawful recipient. The original recipient is solely responsible for any actions in further distribution of this document and should be satisfied in doing so that there is no breach of local legislation or regulations. This is a marketing communication. The Management company has the right to terminate the arrangements made for Marketing. Additional information about this product, including brochures, prices,  application forms, Prospectus, KIID and annual or half-yearly reports, can be obtained from the Manager, free of charge, and from the website: www.ashburtoninvestments.com