All Cap. Global. Thematic. Concentrated.
The Maytech Global Growth portfolio is an unconstrained portfolio of high alpha, long-term holdings.
Though the fund has no industry or sector bias, the Global Growth portfolio will overweight those areas of the market where the Maytech team sees the greatest opportunities for future growth.
Because of our worldview and the overall trajectory we believe the global economy is taking, the fund is often overweight the technology and healthcare industries.
Our team's strong background and specialization investing in those areas of the market offers MayTech Global a strong competitive advantage.
MayTech Global Investors has a 4-step process which fully integrates our
the framework for the development of investment themes,
our fundamental security selection process, and
the long-term portfolio and risk management activities.
|Capitalization Style||All-Cap Growth|
|Primary Investment Approach||Thematic, Fundamental|
|Number of Holdings||20-30|
|Assets Under Management||$150 million (as of 3/31/17)|
|Inception Date||June 2008|
PORTFOLIO MANAGEMENT PROCESS
STEP 1: Unconstrained Growth Investment Philosophy
MayTech Global Investors begins its research step by ensuring its core Investment Philosophy guides its entire process:
Companies recognizing and taking advantage of large-scale secular changes in the global
economy are best poised for spectacular growth.
STEP 2: Identify Investment Themes
MayTech Global looks for industries with large addressable markets undergoing change.
To help us isolate the most promising opportunities, MayTech Global has established four pillars to help provide important context for our investment themes:
- Accelerating advances in technology are creating a "winner takes all" dynamic
- Emerging consumer class in developing markets
- Demographic shifts
- Regulatory changes
As MayTech develops new investment themes, we ensure they account for each of these four pillars.
STEP 3: Fundamental, Bottom-Up Research
MayTech Global employs a traditional fundamental, bottom-up research process at the individual company level.
First, our portfolio management team analyzes industry structures and competitive environments, looking to identify companies on which to focus.
We then look for those companies which are benefiting from disruptive change in their industry. Additionally, the ideal MayTech portfolio company possesses:
- Large addressable markets
- Scalable solutions to consumer problems
- Multiple growth paths & opportunities
- Significant barriers to entry
Our research process is characterized by an intensive due diligence and fact-checking regimen.
STEP 4: Portfolio Construction and Risk Management
The portfolio reflects our best ideas only, which necessarily means the portfolio will be a low-turnover, fairly concentrated one:
- 20-30 securities
- Cash levels targeted at 5% – 10%
- Industry / Emerging Market limits
- Maximum industry weight = 45 % (based on Morningstar categories)
- Maximum emerging market by domicile = 35 %
- Security level
- Initial position size = 2% – 4 %
- Maximum security weight = 15 %
- Historic turnover = 15% – 20 %