Mirabaud launches global equity income fund
Mirabaud Asset Management has launched the Global Equity High Income fund, with assets of more than $25m as a sub-fund to the Mirabaud Luxembourg Sicav.
The new fund will be managed by Kirill Pyshkin who joined Mirabaud earlier this year from Aviva Investors ,where he was a senior fund manager, global equities, in charge of the Aviva Ireland High Yield Equity, and all other active global equity funds with assets under management of more than £1bn.
The Global Equity High Income fund aims to deliver income from dividends that is at least 25% higher than the market average, and offer potential for capital appreciation.
The portfolio will be of the high conviction variety, with a concentrated set of global equities. It will seek to offer lower volatility than the benchmark MSCI AC World index.
Pyshkin said the portfolio will rely on Mirabaud’s “castle, moat and goldmine (CMG)” definition of firms that are financially strong, well-managed and operating in attractive industries with defendable business models.
“Given our long term investment horizon and concentrated nature of our portfolio we always aim to meet the company management prior to buying it for the fund to better understand the strategy, operating environment and attitude to shareholders. Strict sell discipline utilises price targets that are reviewed regularly by dedicated analysts,” he said.
Co-manager on the fund will be Anu Narula, the head of the global equity team, who joined last year from Axa Framlington, where he also lead managed the global income fund.
Both managers will use support from Mirabaud’s desk of global equity analysts, and the 24 equities team staff in London, working under equities CIO Philip Watson.