Following The Adviser Centre Monthly Review Meeting on 28th October 2015, Goldman Sachs Growth & Emerging Markets Broad Equity Portfolio was added to The Adviser Centre as a Positive Watch fund.
The fund is managed by Prashant Khemka, CIO of Emerging Markets Equities, and his team. He became lead manager of the fund in June 2013 and is also the lead manager of the Goldman Sachs India Equity Portfolio, which features in our Recommended list.
The well-honed philosophy and process that underpins the Indian equity approach has been adopted and developed for this broad emerging market equity offering, under Mr Khemka’s stewardship. He works closely with his well-resourced team of fund managers and sector specialists, based in Singapore, Hong Kong, Mumbai and London.
Philosophically, the team believes that the opportunity in emerging markets is most successfully achieved by a focus on growth stocks, whilst applying a valuation-aware framework. The process is distinctly bottom-up in nature and the team pays particularly close attention to the analysis of mid-cycle cash flows and earnings to assess intrinsic value.
Mr Khemka is a passionate investor and in spite of his CIO duties, he retains ownership of the portfolio and its outcome. We believe that a Positive Watch endorsement is appropriate at the present time given the relatively short period of time that the process has been applied to the broader emerging markets universe by this team, but early indications are encouraging.
A new emerging market equity franchise is a welcome addition to this sector and we are excited to be able to add the fund our Positive Watch list.
Within The Adviser Centre, we feature the fund in our “All-Cap, Growth-Biased” category in our IA Sector Overview for the Global Emerging Markets sector. For this sector, we classify our featured funds according investment approach and mandate type, as follows:
Please see our IA Sector Overview for the Global Emerging Markets sector for further details. These documents are helpful in providing sector perspectives and in assisting with the blending of funds for portfolios.
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