Nomura Global High Conviction

The Nomura Global High Conviction strategy aims to deliver superior investment returns through actively managing a highly-concentrated and unconstrained portfolio.

Our Investment Approach

The strategy is a refinement of our well established global equity investment approach. It focuses on individual stock selection, with an emphasis on the timely purchase of a select number of high quality businesses trading below their intrinsic values. It offers investors:

• True active global equity investing – with c.97% active share
• Highly concentrated – holding 17-25 high conviction stocks
• Rigorous ‘bottom-up’ analysis – a team approach to best stock holdings
• Long-standing team – 18 strong, spanning sector and geographic specialities
• Unconstrained – no limits on country or sector exposures

Introducing the team

Our Global High Conviction strategy is managed by NAM UK’s Head of Equity Investment, Tom Wildgoose, co-managed by Ilan Chaitowitz and supported by a team of 18 investment professionals.

In addition, Tom and Ilan have access to both top-down risk analytics and bottom-up asset selection ideas through Nomura’s global network of analysts. This enables the team to make investment decisions driven by individual company analysis whilst avoiding macro-economic, portfolio aggregate exposures.

Portfolio Overview

• Our investment process instils the philosophy of buying “quality” companies at discounted valuations.
• 20 stocks provide as much as 80% of the maximum possible diversification of systematic risk.
• Our approach is benchmark agnostic which allows us to remain agile to opportunities whilst maximising the impact of our best ideas.
• We have a well-developed, disciplined risk management process which helps understand stock correlation and guard against unintended risks.
• We believe that disciplined, focused stock picking is the key to strong long-term investment performance in global equity markets. The greatest rewards come from concentrating on a relatively small number of high quality companies trading at a discount to their intrinsic values.
• The reduced number of stocks enables us to fully understand our investments and their potential, whilst retaining most of the diversification benefits of a portfolio approach.

Pooled Fund Availability

The Nomura Global High Conviction strategy is available for investment via our Dublin-based Irish domiciled UCITS fund.