First State’s Alistair Thompson receives his first Citywire rating, an A. He co-manages the Skandia Pacific Equity fund alongside veteran Angus Tulloch who is AA rated this month. Over the past three years the fund has risen by 35.9% versus the FTSE AW Asia Pacific ex Japan TR GBP index, which has risen by 28.5% over the same time.
The duo invest in the public equity markets of Pacific region and use a blend of growth and value stocks of companies across all capitalisations. They adopt a bottom-up stock selection approach to create the portfolio.
At the end of December their main holdings were Hong Kong’s largest developers of residential, office, retail, industrial and hotel properties, Cheung Kong Holdings Limited (5.8%), and Samsung Electronics Co Ltd (5.76%), which is headquartered in South Korea.
They have a strong holding within financials that made up 31.7% of the fund at the end of December, with consumer staples following with a 12.8% weighting.
In November they had a strong holding in Newcrest Mining of 6.56% which they have subsequently reduced in weight to 5.5% in December. Over one year the stock is down 32.97% and therefore the managers reducing their weighting in this stock is a positive move for the portfolio.