 |
Nathalie Bourdoncle, Portfolio Manager of Martin Maurel Senior Plus
Martin Maurel Senior Plus taps into the “Silver Economy” through two channels: healthcare (and its various sub-segments) and other sectors on an opportunistic basis, such as tourism and consumer stocks. Growth in these sectors is structurally outpacing the rest of the economy.
They are generally less exposed to exogenous macroeconomic events, with the possible exception of currency fluctuations, in particular the dollar’s impact on pharmaceuticals groups, and political decisions of varying impacts, whether positive or negative. With about 150 stocks across all market caps, the fund’s investment universe tends to evolve with IPOs and spin-offs. Its investment process revolves around a bottom-up approach, combining qualitative and quantitative research.
The quantitative analysis focuses on comparing valuations and earnings momentum with consensus forecasts and companies’ guidance. On the other hand, the qualitative research is based on regular contacts with management teams that help to better assess the quality and reliability of that guidance. For each investment opportunity, particular attention is paid to the competitive landscape within the respective sector, along with the company’s strategy, to build a coherent investment case.
The portfolio management team generally favours companies with an attractive growth profile in the aim of accompanying them over the medium and long term while closely monitoring their growth prospects. The fund seeks to maintain a “pure-play” portfolio allocating to companies closely tied to the growth of the Silver Economy.
Find all the information available on the fund Martin Maurel Senior Plus
