Asia

The Asia Pacific ex Japan Equity strategy aims to outperform its benchmark, MSCI All Countries Asia ex Japan Index, by 3-4% per annum over a three-year rolling period. It targets high returns and long term capital growth by investing in a portfolio of primarily equity and equity-related securities traded in Asia Pacific markets, excluding Japan.

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Asia Equity Strategy

The Asia Pacific ex Japan Equity strategy targets strong excess returns through fundamental bottom-up stock selection, within an integrated top-down macro framework.

TT believes that market inefficiencies exist at both the country and stock level. We believe that by carrying out in-depth bottom-up fundamental analysis on stocks, together with detailed top-down economic and sector comparisons, we can identify and exploit these inefficiencies wherever they arise.  However, our main source of alpha generation has been and should remain bottom-up fundamental stock selection. We believe that the best returns are achieved by investing in leading Asia Pacific companies, operated by honest and competent management in industries that are structurally attractive. We retain a strong valuation focus with a belief in intrinsic value.

Portfolio construction is the synthesis of idea generation, conviction and risk management. The strategy will typically hold between 50 and 60 stocks, with an active share of typically 75-85%.

The following aspects of our investment process provide an edge and set the TT proposition apart from the competition:

  • Focus on high quality. Our portfolios offer superior investment returns that are obtained by investing in higher quality, higher growth companies on attractive valuations with positive earnings and share price momentum. 
  • Unconstrained. Many managers feel compelled to hold unattractive stocks just because they are large constituents of their benchmark. TT’s philosophy and heritage is entirely in active management, meaning we are focussed on deploying capital where we have the highest conviction.
  • Sell discipline.  This is a critical part of the process, as knowing when to sell is as important to the success of the strategy as knowing what and when to buy.

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