Argos IM partners with Lloyd George to launch EM Ucits
Argos Investment Management, the Geneva boutique, has partnered with Hong Kong based Lloyd George Advisory to launch the Luxembourg domiciled, US dollar denominated Argos Lloyd George Advisory Bamboo Fund.
The fund is a long only Ucits Sicav focused on emerging market high growth sectors.
Argos is the investment manager to the fund, with the Lloyd George being the sub-investment manager for regulatory purposes.
Lloyd George Advisory is the latest venture fo Robert Lloyd, the investor who worked at Coutts & Co in the 1970s before becoming managing director of IndoSuez Asia Investment Services in Hong Kong in the 1980s, and then moving on to found Lloyd George Management with partners such as Eaton Vance, Mirabaud and Sal Oppenheimer in the 1990s.
Lloyd George Management was sold to Bank of Montreal in early 2011, with Lloyd George retiring from the business in April 2014.
Argos CEO Jean Keller said: “Robert is a serial entrepreneur and an investing legend in Asia. He understands, as we do, that the main function of capital is to support growing companies. We prioritise an investment-led as opposed to distribution-led culture and I think that is what has attracted Robert to work with us.”
Evrard Didier has joined Lloyd George Advisory as director and head of Marketing. He previously worked with Lloyd George in Europe from 2007. He said: “Lloyd George Advisory has a new strategy for emerging markets. We have gone from the early concept of investing by country, according to indices, to the BRIC (Brazil, Russia, India and China) concept, which doesn’t make sense anymore.”
“We have been looking for a new horizontal investment strategy to fit changing markets. Lloyd George Advisory will therefore invest across sectors, picking the best stocks from those countries with high growth, so delivering higher growth rates than the overall GDP rate in emerging countries.”
The actively managed fund will run a portfolio of 40-50 listed stocks, a turnover of about 20%, and a yield of up to 3%. At least 70% will be invested in Asia and South East Asia, with the MSCI Emerging Markets index used as a benchmark. The performance target is 12% annually.