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ASI Global Smaller Companies Inclusive - Class R - Accumulation (GBP)

Sell:154.70p Buy:154.70p Change: 2.10p (1.38%)
Prices as at 3 July 2020
Change: 2.10p (1.38%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 3 July 2020
Change: 2.10p (1.38%)
Prices as at 3 July 2020
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

Alan Rowsell looks for innovative smaller companies from across the globe. Smaller companies are capable of strong performance and some will blossom into the household names of tomorrow. Not all will succeed though and smaller companies are higher risk than larger firms. He's performed well over the years, though the fund's been through periods when it's performed similarly to its benchmark for several years.

There are currently other managers in the Global sector with longer track records that we rate more highly. This fund's also more expensive.

Our view on the sector

It's natural for UK investors to focus on funds investing in their home market. But as the world has become more connected, so has the investment landscape. There are lots of funds investing across the globe, and these can be a great way to diversify an investment portfolio. Funds in the global sector can invest anywhere in the world. But they go about this in different ways. They vary in how much they can invest in certain types of companies, sectors, countries, or regions. Some focus on developed markets or large multinational corporations, while others invest more in higher-risk emerging markets or smaller companies. Some target companies with higher-growth expectations and others search for unloved companies with the potential to recover.

Performance Analysis

The fund has normally fallen less when stock markets are weak. But it hasn't quite kept up when markets have risen quickly. Overall Rowsell has beaten the FTSE Global Small Cap index since the fund launched in 2012. Our analysis suggests that's mainly down to his skill in choosing companies for their long-term growth potential. None of this indicates how the fund will perform in the future.

Investment Philosophy

The manager thinks smaller companies should perform better than larger ones in the long run. He thinks companies with the best long-term prospects are supported by healthy finances and big advantages over competitors.

Process and Portfolio Construction

Rowsell seeks companies that grow their profits and earnings consistently. He also likes it if they do something unique that competitors find difficult to copy. He thinks this increases the chance of them staying successful. He often invests in companies going through a change, which could help them perform better in future. If they grow into large companies he'll normally stick with them and stay invested.

Rowsell likes to meet company management, so he can get a better understanding of where they're likely to head. He invests in a relatively small number of companies so each one can have a meaningful impact on performance. This increases risk though. The manager can invest anywhere in the world, but he mainly focuses on developed markets such as the US, UK, Japan and Europe.

question mark Manager Track Record Based on HL Quantitative Research

  • ASI Global Smaller Companies...
  • FTSE Global Small Cap TR

Fund Track Record

03/07/15 to 03/07/16 03/07/16 to 03/07/17 03/07/17 to 03/07/18 03/07/18 to 03/07/19 03/07/19 to 03/07/20
Annual return 13.83% 27.83% 26.99% 0.89% 5.45%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Standard Life, headquartered in Edinburgh and a member of the FTSE 100 index, was established in 1825, and is a provider of long term savings and investments. In the 1990s the group sought to diversify its operations into areas to complement its core life assurance and pensions business. Standard Life Investments began to offer retail investment products to investors in 1995 with the launch of its mutual fund range, and now spans equities, bonds, real estate, multi-asset and absolute return.

While Standard Life has traditionally been well known for its fixed interest funds, it is now gaining recognition for its range of equity and absolute return funds.

Information about the fund

Fund manager biography

manager photo
Manager Name: Alan Rowsell
Manager start date: 19 January 2012
Manager located in: Edinburgh

Alan Rowsell is the manager of the Global Smaller Companies fund. He has been with Standard Life Investments since 2006, spending the first 5 years in Boston as part of the US equity team. Prior to this, Alan worked at Singer & Friedlander and has 21 years experience in the industry. He graduated from Bath University with a BSc (Hons) in Economic and Politics and has passed the IMC and IIMR exams.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account