Man GLG launches high conviction Asia (ex-Japan) equities strategy 


Andrew Swan

Man GLG, the discretionary investment management engine of Man Group, has launched a high conviction Asia (ex-Japan) equities strategy led by Andrew Swan, Head of Asia Equities (ex-Japan).

The long-only, style agnostic and fundamentally-driven strategy will have an active share of at least 70% and is composed of positions across all market caps, with a preference for mid-cap companies over time. The strategy will typically run sector or country weights to +/-20% versus the MSCI Asia Ex-Japan Index, with the majority of returns achieved through investing in companies the team believes are likely to see positive revisions to their earnings over a period of up to 12-18 months.

In addition to bottom-up analysis, the team will overlay various top-down macro views to determine how the strategy can be tilted to help generate alpha. The investment process will analyse the current macro environment and potential future developments, in order to understand how countries, industries or investment styles (such as growth, value, quality, volatility and momentum) will perform. The strategy will be adapted to ensure the most favourable factors are over-weighted relative to the benchmark.

Andrew joined Man GLG in August 2020 and has more than 25 years’ experience investing in Asian equities. He was previously Head of Asia & Global Emerging Market Fundamental Equities at BlackRock where he managed assets of over USD$25 billion across multiple Asian and emerging markets equity strategies. Andrew is supported by newly appointed Analysts Anand Agarwal, Sally Chan, Andrew Hill and Alethea Leung.

Andrew Swan, Head of Asia (ex-Japan) Equities at Man GLG, said: “Equity markets in the Asia region represent significant opportunities for stock picking and alpha generation. Many of the largest emerging market economies in Asia have undergone significant structural improvements over the last two decades and these, coupled with high levels of GDP growth, have provided fertile ground for companies to prosper. Despite this, they remain relatively under-researched and less efficient than developed markets, so we believe they offer ample opportunities for investors over the economic cycle.”

Teun Johnston, CEO of Man GLG, said: “As a region, Asia is attractive because it’s a market where fundamentals dictate returns, and one with high dispersion at the stock level, making it a rich environment for proven managers like Andrew. Both he and the team of analysts leading the development of this strategy at Man GLG have an established track record in the region and with clients. We believe this is a particularly exciting time to launch this strategy and are pleased to add it to Man GLG’s increasingly diverse range of global equity offerings to clients.”

Hersh Gandhi, Managing Director for Asia Pacific ex-Japan, Man Group said: “I’m really pleased to have Andrew join us in the Sydney office. He is well-known to a number of investors already across Australia, as well as in the Asia-Pacific region more broadly. At Man Group we are always looking for high-calibre portfolio managers to join the platform in order to develop and expand our range of strategies. The addition of Andrew and this high conviction Asia-focused strategy brings our clients another investment option and point of entry to the market.”

As at 30 September 2020, Man GLG had USD$27.3 billion in funds under management.

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