S&P assigns Three-Star ‘New’ rating to Hunter Hall Asian Value Trust
Standard & Poor’s Fund Services today assigned its three-star ‘new’ rating to the Hunter Hall Asian Value Trust, which is managed by Hunter Hall Investment Management using the same process as it does for its global equities fund.
“There are few surprises in store for investors familiar with Hunter Hall’s other equities products. The deep-value and benchmark-indifferent approach underlies their latest Asian Value Trust offering. While there is limited track record to assess the manager, early impressions are the portfolio is likely to produce returns that are markedly different from its blended benchmark. A fondness for smaller-cap stocks, large sectoral/country biases, and concentrated stock holdings is evident,” said S&P Fund Services analyst Justine Gorman.
We consider that Peter Hall has assembled a promising investment team, with solid experience in senior ranks. A particularly strong alignment with investment objectives ensures a high performance culture.
“While there is some experience in the research of Asian equities, the team is somewhat stretched as it is also managing different products with competing research agendas and a large investable universe. There is no analyst presence in Asia, which may prove a further challenge compared with well-rated peers who have dedicated and experienced teams based in the region—with language skills and ready access to company management,” said Ms Gorman.
The fund’s investment process has clear stages with some discipline around an approach which has liberal constraints. The manager is distinguished not only by its style, but its focus on ethical, social, and governance (ESG) issues. Hunter Hall was a pioneer in this field, and its criteria are well considered and meaningful.
