With strong conviction, we build up a global portfolio which is focused on companies - without reference to a particular index - which demonstrate strong profit growth and a stable and solid competitive position. Andrew Dalrymple
His management style
He uses a distinctive Wealth Cycle approach to access growth tailwinds through the identification of predictable and repeatable human behaviour as wealth evolves. This focuses investment research on particular sectors and regions, and then forensic financial analysis is applied to select stocks in those areas, which must satisfy minimum criteria in relation to earnings growth, profitability, balance sheet strength and cashflow visibility and sufficiency, and value. The approach is All Cap. but particular value is added through stock picking in the $1-10 billion market capitalisation range, that is, companies which have stopped being small and fragile and yet still have huge potential for growth. The portfolio typically consists of up to 50 stocks, with a minimum weight of 1.5% and a maximum of 5%.
His professional career
Graduate of Cambridge University, Andrew Dalrymple began his career at Cazenove & Co, then joined James Capel in 1987 and was transferred to James Capel (Far East) in Hong Kong in 1991. He continued in his role as an Asian specialist working for UBS Warburg from 1992-1998 in Hong Kong. Andrew joined Stewart Ivory in 1998 and in 1999 he established the Stewart Ivory Global Opportunities Fund, subsequently called The First State Global Opportunities fund, which remained his signature fund throughout his tenure at First State Investments. He is now Founder, Director and CIO at Aubrey Capital Management Ltd, as well as being Lead Fund Manager of the Firm’s Global Conviction Fund; he is also on the Board’s Investment and Finance & Audit Committees.
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