Standard Life Investments secures Global Equity Mandate in Denmark
28 October 2014
Global Fund Manager, Standard Life Investments, today announced that it has been appointed by Kirstein A/S, Denmark's leading consultant group, to manage a $200m Global Equities portfolio.
The assets will be managed by Standard Life Investments’ highly successful Global Equities team, with seed capital from one of Denmark’s most established institutional investors. The fund will be managed by Mikhail Zverev, Head of Global Equities alongside Dominic Byrne, Investment Director, both of whom have over 10 years of experience in the asset class. The portfolio will be run in a similar fashion to the Standard Life Investments Global Equities Fund SICAV, but wrapped in a Danish mutual fund format, allowing easy access for domestic institutional investors.
Launched in October 2003 the fund was designed to produce consistent outperformance and has been one of the most dependable global equity funds in its peer group. It has returned top quartile performance over one, three, five and ten years, including some years in top decile. It has also outperformed its benchmark, the MSCI AC World Index, over the same time periods*.
The Standard Life Investments Global Equities Fund has returned 21.86% over one year, 64.6% over three years, 95.2% over five years and 158.5% over ten years according to Morningstar (at 31/08/14) with a peer group percentile of 22nd, 7th, 12th and 22nd respectively.
The Global Equities Fund being setup by Kirstein is wrapped in a structured vehicle suitable for Danish investors. It draws on the insights of Standard Life Investments’ highly-experienced equities team which uses the company’s Focus on Change philosophy. This bottom-up stock selection approach enables opportunities to be identified that the market has not factored in.
Standard Life Investments’ 60+ strong equity group has a strong track record in managing funds across a diverse range of equities markets, managing £56.8bn (€70.9bn) in equities around the world (as at 30.06.14)
Åsa Norrie, Standard Life Investments Co-head of European Business and Head of Nordic Region, said:
"This is a further landmark in our success in the Nordic Region. Kirstein is a highly successful Danish-based consultant with an excellent reputation in Denmark and beyond. This mandate comes after a rigorous selection process, and demonstrates the strength and reputation of our equities capability in Europe. We have ambitious expansion plans across the Nordics and recently opened an office in Sweden."
Jesper Kirstein, CEO and Founder of Kirstein A/S said:
“We are pleased to enter into cooperation with Standard Life on Global equities. It is clear to us that Standard Life Investments’ Focus on Change process is unique when compared to other competent managers and we have high expectations regarding future performance.”
* Morningstar, (31/08/14)