Aubrey Capital Management launches onshore version of Europe ex-UK fund

Boutique manager made its £305m GEM fund available for UK investors in May

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Aubrey Capital Management has launched an onshore version of its Europe ex-UK fund in response to growing demand from UK investors for a wholly European strategy.

The Edinburgh-based asset management firm said the SVS Aubrey European Ex-UK fund will invest in equities of companies listed on stock exchanges of European countries.

Managed by the firm’s founding partner, Sharon Bentley-Hamlyn, the fund looks to provide investors with long term capital growth by focusing on cash generating growth stocks with both sound balance sheets and strong ESG credentials.

Bentley-Hamlyn’s existing fund has €283m in assets and has outperformed its benchmark, the MSCI Daily Net TR Europe index, returning 132.0% versus 52.8% over the last five years to the end of June.

Aubrey Capital Management has appointed Smith and Williamson as the fund’s administrator.

Bentley-Hamlyn said: “Europe is an advanced economy with innovative, leading edge companies which currently have an added tailwind of economic recovery supporting their sales and earnings growth. The fund comprises a concentrated portfolio of companies with return on equity, earnings per share and cash return on Aasets greater than 15%, which typically have little or no debt.

“We are seeing astounding levels of innovation within ecommerce, digital services, and the green energy transition.”

This fund will join Aubrey’s existing three funds – the $423m Global Emerging Markets Opportunities fund, €44m European Conviction fund and the £80m Global Conviction fund. In May Aubrey also rolled out on onshore version of its Global Emerging Markets Opportunities fund off the back of demand from UK investors.

In July 2020, the boutique asset manager hired Brooks Macdonald co-founder Jon Gumpel as a director. Since then, several Brooks Macdonald names have jumped ship and joined him at Aubrey, most recently sales director Simon Pinner.

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