They also conduct an Environmental, Social and Governance analysis to ensure the business is sustainable.
Thompson says the team are not looking for companies which simply provide good outcomes, resulting in a relative competitive strength – but also those companies that provide goods or services that satisfy the customer in a unique way, in turn giving the company a dominant and sustainable position among its peers.
The managers also believe in backing their businesses for the long-term, with almost half of the stocks held in the portfolio since launch.
Performance has been very strong, returning 124.3 per cent in the past five years, compared with 86.57 per cent for the average fund in the IA Global Sector. The ongoing charges figure stands at 0.87 per cent.
There are plenty of high conviction global mandates available to investors today, but we feel this fund’s relentless focus on businesses which deliver 'superior customer outcomes' offers something both different and complimentary to its peers.
We also like the emphasis on high quality fundamental stock research and the managers' willingness to analyse their own performance and mistakes, and their constant desire to improve.
Darius McDermott is managing director of FundCalibre