Equities

Mirabaud Sustainable Global Focus Strategy

A concentrated, best-ideas global equity strategy that seeks out innovative companies with clear competitive advantages and that offer sustainable growth.

We believe that strong management and an ability to focus on sustainability allows companies to capitalise on their opportunity set.

Themes are an important driver for success and can support a company's potential in a low-growth cycle. By following a multi-thematic approach, we can adapt to a changing environment and increase diversification.

Managing risk is a priority and the strategy targets lower volatility than the average fund in the global equity sector.

Portfolio Characteristics

THEMATIC STRATEGY	We believe global themes provide companies with secular tailwinds.
CONCENTRATED PORTFOLIO	25-40 stocks. New entrants must be better than any existing holdings.
SUSTAINABLE GROWTH	Portfolio is balanced between companies with diverse growth characteristics to control risk.
STOCK-SPECIFIC RISK	Stock risk has to be higher than any other factor, as stock selection drives alpha.
SFDR ARTICLE 8	Looking for sustainable leaders via a comprehensive ESG process.

Portfolio Themes

PLATFORM COMPANIES

The COVID-19 pandemic led to a significant increase in awareness among organisations about the pressing need for digital transformation.

The global digital experience platform market size is estimated to reach USD22.94 billion by 2028, expanding at a Compounded Annual Growth Rate (CAGR) of 12.3% from 2021 to 2028.

REAL ESTATE & INFRASTRUCTURE

Spending is a key global priority primarily to address ageing infrastructure and the move to lower carbon economies. USD94 trillion is needed to improve global infrastructure by 2040, with the biggest need in transport and energy. Governments around the world are focused on solving the global housing crisis.

AUTOMATION

Automation also has an important role to play in bringing customers previously reliant on e-commerce back into stores. Customers who had a positive experience with in-store automation said they would be willing to shift.

MILLENNIAL & GEN Z CONSUMER

At 72 million, millennials make up the largest share of the US population Millennials will account for 75% of the global workforce by 2025 and their combined income will hit USD8.3 trillion by 2025.

Gen Z’s economic power is the fastest growing with the group’s income set to grow 5x by 2030 to USD33tn

SERVICE ECONOMY

The service economy was one of our themes that was hit hardest during Covid, but then offered significant bounce-back potential.

HEALTH & WELLBEING

39% of the global population is overweight – the cost of health and wellness is rising fast. Spending on health (as a % of GDP) has hovered around 8.8% for the last ten years but jumped to 9.9% in 2020. 46% of global consumers say they make proactive health and wellness choices on a regular basis.

DECARBONISATION

We have reclassified our “Renewables” theme to “Decarbonisation”. Renewables are a key piece of the puzzle in the transition to carbon neutrality, but alongside this there are other key areas of the transition, which will represent a significant tailwind for those companies exposed to them. As ever, we continue to look for global leaders in these areas.

EXPLOSION OF DATA

Semiconductor sales are forecast to reach a record-high of US$ 971bn in 2028. Demand for consumer products and adoption of technologies such as driver assistance systems and autonomous driving is leading to a surge in semiconductor content. Semiconductors are set to account for an estimated 45% of a car’s manufacturing cost by 2030.