Rathbone Global Opportunities Class S - Accumulation (GBP)

The fund has performed well since Thomson became manager in November 2003, outperforming the average fund in the IA Global sector over this time. Our analysis suggests that Thomson’s stock selection, the ability to select companies that perform well regardless of sector or country, has been the primary driver of returns. The fund’s growth style also benefited performance. Past performance isn’t a guide to future returns.

The fund has tended to grow more quickly than the global stock market when it’s rising, because of a focus on companies with strong growth potential. It has also held up slightly better when markets fall as the manager invests in some companies with more defensive qualities. The fund won’t necessarily perform this way all the time, though. For example, in 2022 the fund fell further than the market partly because the growth-focused investment style fell out of favour with investors.

James Thomson looks for companies that can grow at a faster pace than others over the long run. He tries to invest in them before their potential’s been recognised by other investors.

Thomson looks to invest in companies he considers to be under the radar or that have been shunned by other investors but still have long-term growth potential. He may hold onto these companies as they grow or become recognised by more investors, so the fund can benefit from the potential for longer-term success. Rather than using extensive quantitative tools, Thomson uses a combination of his experience and insight from analysts, both internal and external, to generate ideas.

The fund mostly invests in developed markets like the US and Europe. Although the fund can invest in higher-risk emerging markets, it doesn’t do so often. Larger companies make up most of the fund, but the managers have flexibility to also invest in some higher-risk smaller companies.