Our approach
We look to gain an investment edge that is analytical and behavioural in nature. Being long term in outlook, concentrated and fundamentally driven allows us to ask the right questions.
We invest in what we consider to be the best businesses regardless of sector or geography, with high-conviction ideas driven by bottom-up stock selection and fundamental analysis. As a result of allocating risk budget to our highest-conviction ideas, we tend to exhibit low correlations with other global equity strategies.
We actively seek to minimise downside risk through our cashflow focus, deep understanding of ESG* factors and active engagement with companies to promote higher and consistent long-term returns. This is typically reflected in an attractive capture ratio – aiming to match the market on the way up, but significantly outperform it on the way down.
Potential benefits
Our approach focuses on the following distinctive characteristics that can generate attractive, resilient total returns over the long term:
Predictability
A focus on predictable free cashflow compounding and sustained competitive advantages.
Protection
We aim to protect capital through a deep understanding of ESG,* balance sheet and valuation characteristics.
Upside
A high-conviction portfolio of companies we believe can grow at scale through market leadership and network effects.
*The investment manager always applies the Firm’s Baseline Exclusions Policy and any specific constraints within a prospectus or IMA, but any other ESG factors or risk considerations are adopted at the manager’s discretion.
Five principles for performance persistence
Barney Goodchild, Francois De Bruin and Richard Saldanha set out the thought process behind our Global Equity Endurance strategy.
Aviva Investors Global Equity Endurance: Strategy in brief
The strategy seeks to achieve attractive, resilient total returns over the long-term while reducing the risk of capital loss by investing globally in a high-conviction, low turnover portfolio of “endurable” businesses.
-
Supercharge me: The power of network effects
Network effects can boost a company’s growth and build durability – when combined with other strengths, argues Francois de Bruin.
-
Theory of reflexivity: How share prices can influence companies’ intrinsic value
When markets fall, equity investors should become more constructive on the prospects for future returns. However, as prices fall, intrinsic value may be influenced. Discerning which factors drive this could help investors capitalise and avoid getting caught in value traps.
Key risks of global endurance funds
For further information on the risks and risk profiles of our funds, please refer to the relevant KIID and Prospectus.
The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.
Emerging markets risk
The fund invests in emerging markets; these markets may be volatile and carry higher risk than developed markets.
Derivatives risk
The fund uses derivatives; these can be complex and highly volatile. Derivatives may not perform as expected, which means the fund may suffer significant losses.
Illiquid securities risk
Certain assets held in the fund could, by nature, be hard to value or to sell at a desired time or at a price considered to be fair (especially in large quantities), and as a result their prices could be very volatile.
Concentration risk
The fund invests in a small portfolio of securities. Losses from a single investment may be more detrimental to the overall fund performance than if a larger number of investments were made.
Investment risk & Currency risk
The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.
Global equity endurance fund team
Need more information?
For further information, please contact our investment sales team.
Read more about the fund
Explore our equities range
Equities views
-
Rethinking retirement: Five trends redefining financial advisers’ retirement planning
31 Oct 2024
Retirement today looks quite different from previous generations. With longer life expectancy, fluctuating market conditions and higher costs of living, planning for it has become increasingly complex. In this article, we explore five reasons why financial advisers should rethink retirement to help clients secure their financial future.
-
Multi-asset allocation views: Where next for markets after the summer storms?
9 Oct 2024
Volatility returned to markets in the third quarter of the year. While the short-term drivers are not unduly worrying, Sunil Krishnan argues multi-asset investors will need to be watchful over the medium term.
-
Equity income megatrends: Four themes reshaping the landscape for income investors
9 May 2024
In this article, we look at four megatrends that are likely to transform companies and markets over the coming years, and how they might create opportunities for equity investors.
-
Casting a wider net: Equity income investors find opportunities in global tech and industrials
26 Apr 2024
Large tech firms such as Meta have announced they will pay dividends for the first time in 2024, illustrating the opportunities equity income investors can find beyond “traditional” dividend-paying stocks.
-
The ‘In’ crowd: Why companies with ‘club’ dynamics can represent opportunities
10 Apr 2024
We explore how creating “clubs” can bolster network effects, enhance firms’ resilience and make them attractive to investors.
-
Tech’s tightening grip: What rising US stock concentration means for equity investors
8 Apr 2024
Soaring technology share prices have driven US stock market concentration to unprecedented levels and pushed the US market to a record premium relative to other markets. While both trends could persist, investors need to be aware of the implications, argues Joao Toniato.
-
The war on bugs: Climate change contributes to growth in the pest-control industry
13 Mar 2024
Pest control has become a growing priority for city residents and authorities all year round, as rising temperatures and other factors boost the populations of many pest species. But in creating adaptation solutions, the sector could also represent a long-term investment opportunity.
-
Measure for measure: Why the business of benchmarks matters to investors
30 Jan 2024
Investors rely on benchmarks for data – but benchmarks can also represent investment opportunities in themselves. So how can we identify companies whose benchmarks are likely to have staying power?
-
From cash rich to cash strapped? Why the US consumer boom could run out of road
24 Nov 2023
Our investment teams explain why buoyant US consumer spending will have to weaken eventually. That could pose problems for debt-laden consumer-facing companies.
-
Softly does it? A Q&A with Peter Fitzgerald and Ian Pizer
24 Oct 2023
The managers of the AIMS Target Return strategy explain why the prospects for a range of asset classes suddenly look much brighter.
-
China versus the West:The ongoing rise of economic nationalism
2 Oct 2023
The US and China continue to trade blows as each side looks to limit the other’s access to vital products. With industrial policies also making a comeback, companies are having to navigate a rapidly changing business environment. We look at the key implications for investors.
-
Multi-asset allocation views: Cutting through the noise
26 Sep 2023
Issues around US tech, China, US Treasuries and Japanese monetary policy have hit the headlines in recent weeks. Sunil Krishnan explains how taking a long-term view can help multi-asset investors cut through the noise.
-
Tipping points and transformation: Getting on the right side of change
16 Aug 2023
Rapid changes in the global economy could tip some sectors into low-carbon phases faster than incumbents expect, with important investment implications.
-
Defensive sectors offer value amid AI frenzy: What next for global equity income investors?
7 Aug 2023
Dividends proved resilient in the first half of 2023. Richard Saldanha considers what the rest of the year might have in store for income investors.
-
Supercharge me: The power of network effects
5 Jul 2023
Network effects can boost a company’s growth and build durability – when combined with other strengths, argues Francois de Bruin.
-
What does the data say? Three charts for multi-asset investors
19 Jun 2023
We take a visual approach to explain what’s happening with the US debt ceiling, LVMH and gold.