Simultaneous with the launch of the Independent UCITS Platform, the Prodigy Asia & Emerging Markets Fund (“the Fund”) was re-launched as a Luxembourg UCITS fund. The Fund will invest in emerging market equities with a focus on Asia. The Fund mandate allows up to 40% of the portfolio to be invested in companies that are domiciled in Western countries and whose operations are focused on the emerging economies in Asia, Africa and South America along with the developing economies in Europe. The investment process will increasingly be based on the principles of value investment and embrace a buy to hold approach.
David Robinson, portfolio manager of the Fund, said “the re-domiciliation and subsequent restructuring of the fund under UCITS will impose a new discipline on the investment process, particularly limiting the use of derivatives and requiring the portfolio to be substantially invested at all times. Going forward the Fund will extend the holding period for investments and we as managers will focus increasingly on core value metrics in stock selection. This new discipline will allow us to take advantage of our core competence of research based investment and selecting stocks based on their cash flow and dividend generating qualities”.