Macquarie Professional Series

Walter Scott Global Equity Fund

Macquarie Professional Series

Enabling local access to global specialists

The Walter Scott Global Equity Fund is proudly brought to you by Macquarie Professional Series. We have been scanning the world for 20 years, looking for global equity and liquid alternatives managers that have proven themselves, through multiple market fluctuations, again and again. Very few make the cut, but that’s the point.

We’ve sorted through the noise and dealt with the complexity, to bring you our selection of some of the world’s best. We want to share our passion for investing and support you all the way.

Overview

A focus on quality growth

Through a long-term investment lens

The power of many minds

Driving meticulous, proprietary research

Strong long-term performance record

Built on a defensive investment approach

Philosophy

Walter Scott scours global markets to find what they believe are the world’s best companies, capable of generating sustained wealth over the long term. As fundamental, bottom-up stock pickers, Walter Scott focuses on companies that are profitable, have a sound ability to generate cash, have strong balance sheets, and robust governance structures. Their approach is focused on the need to generate real returns over the long term.

Key features

Potential for long-term wealth creation

Walter Scott seeks to create wealth through the long-term ownership of quality companies.
The Fund has a strong long-term performance track record.

Exposure to high-quality businesses with strong growth characteristics

Walter Scott searches the globe for companies it believes are profitable, have a sound ability to generate cash, have strong balance sheets, and robust governance structures.
These characteristics tend to shine out during tougher market conditions.

Benchmark-unaware portfolio, with a long-term focus

Walter Scott takes an unconstrained approach to investing.
This allows the investment team freedom to build a diversified portfolio of stocks spanning a range of geographies and sectors.
Wealth is created through the long-term ownership of companies rather than short-term trading.

Leading in-house research

Original research is at the heart of Walter Scott’s investment process.
Combined with detailed financial analysis, the investment team, based in Edinburgh, Scotland, travel extensively to meet directly with company management, and gain on-the-ground insight to form a first-hand view of a company’s potential for long-term success.

Access to the knowledge and investment expertise of Walter Scott

Walter Scott has applied their brand of conservative growth investing consistently for 40 years.
The investment experience of all members of the research team is called on for every investment decision.

Process

Walter Scott builds and manages its portfolios from the bottom up.

The Fund is actively managed using a benchmark-unaware, fundamental, bottom-up and research-driven approach to build a portfolio of strong growth companies capable of generating wealth over the long term.

The investment approach combines detailed financial analysis with business and management analysis.
There are seven particular areas of investigation to assess the long-term potential of a company, as shown. This includes fundamental issues such as how the company can maintain its competitive advantage, control its destiny and exploit growth opportunities, along with its financial health, competency of management, sustainability of the business franchise and valuation.
The investment experience of the whole research team is called on for every investment decision. A new idea must achieve unanimous support prior to inclusion, while a sell decision requires only one well-researched dissenting argument.

Management team

Collective decision making is integral to Walter Scott’s investment approach. Every portfolio is managed by bringing together the skill and judgement of the whole research team.

For more information on our equity capabilities

Learn more

Risks

All investments carry risk. Different investments carry different levels of risk, depending on the investment strategy and the underlying investments. Generally, the higher the potential return of an investment, the greater the risk (including the potential for loss and unit price variability over the short term).

Investment risk: The Strategy has exposure to share markets. The risk of an investment in the Strategy is higher than an investment in a typical bank account or fixed income investment. Amounts distributed to unitholders may fluctuate, as may the Strategy’s unit price, by material amounts over short periods.

Market risk: The investments that the Strategy has exposure to are likely to have a broad correlation with share markets in general. Share markets can be volatile and have the potential to fall by large amounts over short periods of time. Poor performance or losses in domestic and/or global share markets are likely to negatively impact the overall performance of the Strategy.

International and emerging market risk: The Strategy has exposure to a range of international economies, including emerging economies. Global and country specific macroeconomic factors may impact the investments that the Strategy has exposure to. Governments may intervene in markets, industries, and companies; may alter tax and legal regimes; and may act to prevent or limit the repatriation of foreign capital. Emerging markets may experience lower liquidity (including as a result of securities or bond markets being closed for extended periods), potential for political unrest leading to recession or war, greater potential for sanctions to be imposed on the country or its citizens, companies or institutions, increased likelihood of sovereign intervention (including default and currency intervention), currency volatility, and increased legal risk.

Important information: The Walter Scott Global Equity Fund is designed for investors who are seeking capital growth, are intending to use the Fund as a satellite within a portfolio, have a medium to long-term investment timeframe, have a high or very high risk/return profile and require the ability to have daily access to capital. Please review the Target Market Determination for the relevant Fund available at macquarie.com/mam/tmd and consider if the Fund may be suitable for you.

Macquarie Investment Management Australia Limited (ABN 55 092 552 611 AFSL 238321) the issuer and responsible entity of the Fund. In deciding whether to acquire or continue to hold an investment in the Fund, an investor should consider the Fund’s product disclosure statement. The product disclosure statement is available on our website at macquarie.com/mam/pds or by contacting Macquarie Investment Management on 1800 814 523. This information is intended for recipients in Australia only.

Macquarie Asset management is a leading global asset manager offering a diverse range of investment solutions, including real assets, real estate, and credit.

This information is a general description of Macquarie Asset management only. The views expressed in this website represent those of the relevant investment team and are subject to change. No information set out above constitutes advice, an advertisement, an invitation, a confirmation, an offer or a solicitation, to buy or sell any security or other financial product or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions.

Investing involves risk including the possible loss of principal. The investment capabilities described in this website involve risks due, among other things, to the nature of the underlying investments. All examples herein are for illustrative purposes only and there can be no assurance that any particular investment objective will be realized or any investment strategy seeking to achieve such objective will be successful. Past performance is not a reliable indication of future performance.

Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice.

Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this website is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this website relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.

Additional important information (including regional disclosures)

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