29 November 2018
November Webcast Replay
With the PAM Investment Management Teams
With the current market
environment causing uncertainty and testing investors’ nerves, Pacific Asset Management invited clients to listen and take part in the Pacific Weekly
Investment Meeting. Matthew Lamb (CEO), was joined by Will Bartleet CIO / Portfolio Manager of Pacific’s range of multi-asset solutions and by our
Emerging Markets and G10 Macro rates fund teams.
26 November 2018
Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team
As
2018 draws to a close it is easy to forget that Emerging Markets were outperforming their developed counterparts only last year. This has now largely
been reversed and brings us back to where we were in 2016 in relative terms. The MSCI Emerging market index remains at least 30% cheaper than the S&P
on most measures.
31 October 2018
Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team
Taiwan remains one of our favourite markets. It enjoys the lowest cost of capital in the emerging market universe and has a large number of companies
with net cash on the balance sheet. Many of these stocks pay dividend yields in excess of 5.0% and are often majority controlled by their management.
01 October 2018
Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team
Anyone
who is familiar with our investment process will know that at North of South we like to stress the importance of the cost of capital. A flexible methodology,
which can accommodate the wide spectrum of sovereign macro conditions our corporates are exposed to, is critical to levelling the playing field for
a dollar-based investor.
15 August 2018
Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team
China
currently accounts for over 30% of the benchmark market capitalisation of the MSCI Global Emerging Market index. At this level China now represents
a higher percentage of the index than any individual country has in the past.
15 July 2018
Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team
Investors
we meet are often preoccupied with their exposure to style factors. The largest dichotomy seems to exist between the growth and value investment style.
We at North of South Capital subscribe to the view that value investing works over time and allows an active manager to outperform the market. Our
investment process is built around this premise.
12 July 2018
Emerging Markets Webcast with North of South Capital
The importance of the Cost of Capital, Trade Wars, Trump, China & more
In
the first of our Emerging Market Webcasts, Matt Linsey, Lead Portfolio Manager and Partner of North & South Capital and Kamil Dimmich, Co-manager
and Partner outline their unique interpretation of value investing, and why it’s so critical to consider the ‘Cost of Capital’ when investing across
Emerging Markets.
14 June 2018
Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team
We
have written a number of times in the past regarding our investment process which has a clear focus on value. Our definition of value is relative and
we believe that measuring value only in an absolute sense is dangerous. A low price earnings ratio or high dividend yield in isolation provides only
a partial indication of a company’s worth. Stocks are a very long duration instrument – the typical analyst forecast period of 2-3 years usually only
accounts for less than 10% of the value of the business. Therefore, it is imperative to have a robust process in determining the cost of capital which
is used to discount and value the future cash flows.
11 June 2018
EM value specialists - North of South Capital
Hear from our highly experienced team
Matt Linsey, Lead Portfolio Manager
and Partner of North & South Capital and Kamil Dimmich, Co-manager and Partner outline their unique interpretation of value investing, and
why it’s so critical to consider the ‘Cost of Capital’ when investing across Emerging Markets.
23 May 2018
Latest Emerging Market Viewpoints
From Matt Linsey and the North of South Capital team
The continued rise in U.S. dollar
interest rates is now beginning to have a significant impact on those markets that have been most dependent on external financing. This in turn has
created a negative perception of the entire Emerging Market asset class. Is this correct?