Active manager beats S&P 500 over 1, 3, 5 & 10 years

Seilern Investment Management has announced that its US equity fund Stryx America has outperformed the benchmark S&P 500 index over each of the ubiquitous performance periods over the past decade.

The outperformance is attributed to the fund’s dollar denominated institutional share class, net of fees with gross income reinvested. Annual management fees on the share class are reported as 75bps annually.

1 year18.30%13.90%
3 years55.30%33.70%
5 years127.70%95.50%
10 years107.50%99.40%

Noting the performance, chief investment officer and fund manager of Stryx America, Raphaël Pitoun, said: “We have proved our long-term approach can ride out market volatility and generate significant absolute performance over the cycle.  We are convinced that in an investment world increasingly driven by short-termism, a meticulous and focused research process seeking out only the very best quality growth businesses will continue to drive significant returns.”

The portfolio approach intentionally takes a long term approach, with Seilern stating that it is suited to pension funds, endowments, funds of funds and family offices with long term obligations. The strategy involves applying a proprietary research process to identify a universe of securities, from which a concentrated portfolio averaging 20 companies is built. The investment process was developed by company founder Peter Seilern, who added: “The value of what our investment team has done over the last 10 years with Stryx America is now clear from the performance record.”

“Our philosophy, only to invest in the best, will, we believe, continue to pay off over the long-run.  The key to our success is finding these companies and having the conviction to leave them to grow.  These companies have proven they can perform across all cycles, and, ultimately, outperform the market.”

According to the latest annual Spiva report from S&P Dow Jones Indices, over 88% of US large cap funds underperformed the S&P 500 index over five years to December 2016; over 93% underperformed over three years; and 66% underperformed over one year.

Pitoun was among the portfolio manager who took part in InvestmentEurope‘s Paris Hidden Gems Roundtable earlier in 2017:

Managers pitch hidden gem funds in Paris

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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