Bestinvest says
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The fund has no specific benchmark but instead will target annual returns of 10% p.a. by investing in Far East and EMEA equities. The fund has a stock specific bottom up focus, but if need be it is prepared to aggressively cut losses and hold cash. Central to this investment philosophy is the use of a soft cut risk control after a 10% absolute stock loss. This cut loss control does not have a rigorous mechanical application and maybe overruled due to extraneous events. The ability to exit a stock quickly is an important consideration in determining stock selection. However, the fund is prepared to take a few relatively illiquid /longer term positions as long as they do not comprise a major portion of the portfolio. Historically cash levels have risen to almost 75% as markets have fallen. BDT argue this ability to hold cash simplifies sell decisions since there is no pressure to identify a corresponding purchase. The underlying cash weighting will invariably give the fund low BETA characteristics. The minimum investment is $10,000. There is also a performance fee applied to annual returns in excess of 10%.