Bestinvest says
Taube Hodson Stonex Partners remain one of London's most experienced investment teams even after the departure of two of their founders, and can demonstrate a record of outperformance over a remarkably long time. They specialise in global equity portfolios and follow an absolute return approach which has historically given a degree of protection in falling markets. An added attraction is the charges, which are very low. Historically a large proportion of assets were managed for St James's Place, but since 2011 the link between the companies has been reduced.
The London based investment team invest in large cap equities worldwide. The portfolio consists of companies based in developed markets, though there will be indirect exposure to emerging market growth. The team identify global themes they believe will deliver long term growth and most investments are based around these themes, which include US housing recovery and clean energy. Despite this the team consider themselves bottom up stockpickers and the themes are often derived from stock ideas. Shares are analysed on a traditional basis with cash flow analysis and management strength key and company meetings considered important. These are predominantly carried out in London, though the team also travel overseas periodically. The team are all generalists, but some have expertise in specific sectors and each stock idea will have one or two “champions” who will carry out the bulk of the research. Any one team member can veto an idea but in practice this rarely happens. Portfolio turnover tends to be low. The managers target absolute returns and neither stock weightings nor performance are judged relative to the benchmark, though the managers believe their approach will lead to outperformance over the long term.