Rosevine Capital launches global equity fund

Rosevine Capital launches global equity fund

A new global equity fund seeking value investments in large and mid-cap companies has come to the market from boutique manager Rosevine Capital.

The EF Rosevine Capital Global Equity fund will have a concentrated portfolio holding 20 to 30 companies and will adopt what Rosevine Capital's founder Abhinav Shah called a research-intensive approach to stock selection with a long-term investment horizon.

The fund will focus on liquid large and mid-cap companies listed in developed markets.

Rosevine Capital was founded by Mr Shah in 2017.

He previously worked for Barclays Investment Bank, where he was responsible for a proprietary investing, lending and trading business operating across both public and private equity and fixed income markets in Europe, the Middle East and Africa.

Mr Shah said: "I want to pursue an investment philosophy that I believe offers something different to the vast majority of equity funds available to retail investors.

"At my core I am a value investor, which is traditionally thought of as someone seeking out statistically cheap stocks.

"However, business quality and growth prospects are, in my opinion, of at least equal importance as valuation in determining whether to acquire an ownership stake in a business."

The fund is structured as an Oeic and is benchmarked against the MSCI World index.

The annual management charge is 0.75 per cent and the performance fee is 15 per cent of any returns above the benchmark, subject to a high water mark.

Jason Hollands, managing director for business development and communications at wealth manager Tilney, said there is a growing trend towards global funds that are stock-driven and have a value tilt.

"Traditionally, global products tended to allocate regionally in line with the benchmark, which meant they tended to be heavily weighted to the US market, but now funds are more stock-driven," he said, adding that he is seeing growing demand from wealth managers for funds with a value tilt.

He said while growth stocks have outperformed over the past nine years, peaking corporate earnings and a sell-off in markets are a trigger for investor interest in value stocks.