iM Global Partner teams with Scharf Investments to launch OYSTER US Value fund
iM Global Partner and its strategic partner, Scharf Investments, have launched a new UCITS fund, the OYSTER US Value fund, within the OYSTER range.
The fund is managed by Scharf Investments, a US investment firm, partner of iM Global Partner since April 2019, which provides high-quality value investment strategies. The equity fund is a concentrated portfolio that seeks to deliver outstanding long-term risk-adjusted returns through a value-focused, fundamental and bottom-up approach.
Scharf Investments builds on the investment process of its flagship strategy, the Scharf Core Equity Strategy, which has a proven track record spanning approximately 40 years, with USD1.2 billion of assets under management as of August 2020. The investment team looks for quality companies trading at significant discounts to estimated fair value, high earnings predictability and solid growth – thus differentiating from a traditional value approach. Since inception, this strategy, through its disciplined management and concentrated portfolio – typically 25 to 35 holdings in the fund – has shown an ability to withstand adverse market conditions while offering attractive returns relative to industry benchmarks and peers. It has also demonstrated significant capital preservation capabilities without resorting to cash as a protection tool.
The OYSTER US Value fund replaces the OYSTER Global Equity Income fund. It will allow investors to invest over the long term in high-quality companies, while maintaining valuation multiples below market levels and benefiting from an exceptional 23-year-old audited track record. Scharf Investments has been managing portfolios for nearly 40 years. Its main goal is to increase capital during periods of strong growth while preserving it during significant market downturns.
Brian Krawez, president of Scharf Investments, says: "We are honoured to be one of the managers of the OYSTER range. Though only one year old, our partnership with iM Global Partner has given us access to many new opportunities, including the European market. We are convinced that our investment strategy will allow European investors to access US equity markets through a management team that has demonstrated its ability to withstand difficult market conditions."
Philippe Uzan, CIO asset management at iM Global Partner, adds: "We are pleased to delegate the management of the OYSTER US Value fund to Scharf Investments, a recognised leader in value equity management and partner of our group. Their exceptional track record reflects their capacity to combine quality and valuation criteria in a disciplined and proven approach, focusing on medium-term capital protection through stock selection clearly differentiating them from a traditional value approach. With this fund, we once again want to provide access through our OYSTER range to high-performance and unique investment solutions.”