Global Equity Income Strategy
A contrarian global equity income strategy that stands out from the crowd.
The Global Equity Income strategy’s objective is to grow both income and capital over time. We are aiming to produce a portfolio dividend yield that is at least 1.3x that of the MSCI World Index. The strategy is limited to investing in equities and equity-like instruments. Additional to the investment restrictions under the UCITS regulations, we are mindful of excessive exposure to one country or sector. As with all Oldfield Partners strategies, Global Equity Income delivers a highly active but diversified portfolio, driven by a bottom-up investment philosophy.
In addition to managing a portfolio which is both good value and has high and growing income, there are distinctive aspects to our approach. We run a concentrated portfolio (typically 20-30 stocks), meaning this is a portfolio of high conviction ideas, each of which is well understood by the portfolio managers. An investor should want our best ideas; not our next best. We are contrarian in our thinking, looking to buy unloved and out of favour companies. Areas of poor sentiment are where we find ‘bargains’ priced at material discounts to our view of intrinsic worth. Finally, and critically, we invest with a long-term mind-set. Our average holding period is 4-5 years.
Sam joined OP in April 2013. He was previously employed by J.P. Morgan Cazenove working in the UK Industrials Corporate Finance team for a total of 4 years. He graduated from Oxford University. He is Associate Portfolio Manager for the global equities portfolios, co-manages the global equity income portfolios, and contributes to the overall investment selection.
Jacob joined OP in March 2020. He previously worked in private equity at IK Investment Partners and ADIA for 3 years. Prior to that, he worked in the M&A team at Lazard in London. He graduated from EBS Universität and Aarhus School of Business, and is a CFA Charterholder. He co-manages the global equity income portfolios, and contributes to the overall investment selection.