By MARCEL PORCHERON 20/03/2008
The global emerging markets equity team at Aberdeen is headed by Devan Kaloo. The team has a high level of interaction with their Aberdeen Asian colleagues based in Singapore. They place the same emphasis on investing in quality companies and undertake detailed proprietary company research. As in the Asian portfolios, they adopt a conservative approach to valuation and their investment process is also biased away from investing in cyclical companies, although they have held best-in- class cyclical companies from time to time. Generally, the team will find it harder to outperform when cyclical or low quality companies are performing strongly although their focus on quality should lead to better relative performance in a more difficult environment. Other key members of the team include Hugh Young and Peter Hames. Investors should note that there will be an overlap in holdings with Aberdeen’s Asian funds so it may be inadvisable to hold both for diversification purposes.
The fund has been awarded 4 stars.