Annualised Alpha Target:
Investment Process Characteristics:
- Active investment style.
- Blend or Growth manager.
- Combine top-down country & sector decisions with fundamental, bottom-up, stock-picking.
- Active share greater than 50% (soft minimum).
Your portfolio should be flexible and adapt to the changing risks and opportunities in Asia.
Main indicative investment guidelines (to be agreed with selected manager):
- Cash limit: (open to discussion).
- Benchmark investments: (up to 100%)
- Off-benchmark Asian* companies listed in countries covered by our benchmark are allowed (no individual limit).
- Off-benchmark Asian* companies listed in countries not covered by our benchmark are allowed (no individual limit).
- Off-benchmark investments in companies listed in Australia and New Zealand are allowed (no individual limit).
- Total off-benchmark exposure: (30% soft maximum - open to discussion).
- Country and Sector deviations from our benchmark are allowed (no individual limit).
*We define Asian companies as companies that are either:
1) Headquartered in a country within our benchmark, irrespective of their country of listing.
2) Headquartered in a country outside of our benchmark, who derive >66% (open to discussion) of their total revenues from countries within our benchmark.
- 3 year track record as of 30 June 2022 (hard minimum).
- Be attributable to a clear, consistent process run by a stable team.
- Minimize under-performance, and maximize out-performance of our benchmark in both up and down markets, by using tracking error effectively.
- Periods of extreme or sustained under-performance must have a credible explanation, and be compensated by evidence of subsequent out-performance.
- You expect your process to deliver a long term average 3 year rolling IR above 0.3.