8 April 2025, New Zealand – Franklin Templeton specialist fund manager Brandywine Global has launch edits second strategy, the Brandywine Global Opportunistic Equity (GOE) Fund, as a portfolio investment entity (PIE) compliant fund in New Zealand managed by FundRock NZ Limited.
The Fund has also garnered its initial investment from Aurora Capital, the investment manager of the Aurora KiwiSaver Scheme.
The Brandywine Global Opportunistic Equity Fundis an active, global equity portfolio that employs a consistent value philosophy. The strategy seeks to outpace the long-term performance of the MSCI All Country World Index (in New Zealand Dollars) using a distinct process leveraging top-down macroeconomic research to inform bottom-up fundamental analysis capturing diversified sources of return.
"Following the successful launch of the Brandywine Global Opportunistic Fixed Income Fundin New Zealand seven years ago, we are thrilled to be able to continue to provide New Zealand investors with access to market-leading investment strategies. The Global Opportunistic Equity Fund show cases the Brandywine Global investment team's ability to seek out under valued global equities that aims to provide investors with superior returns,”said Felicity Walsh, Managing Director,Franklin Templeton Australia and New Zealand.
Michael Courtney, General Managerof FundRock NZ Limited said he was extremely pleased to work with Franklin Templeton to make another of Brandywine Global’s investment strategies available in a tax-effective PIE fund. “We started working with Franklin Templeton and Brandywine Global in 2018, so it is great to build on this success with the launch of another PIE fund,” said Courtney.
Walsh added, “Evidence of the recent pull back in the global tech sector and the questioning of the US ‘exceptionalism’ narrative highlight the opportunity for a value-orientated global equity manager in the market. At any given time, the Brandywine Global team’s investment process remains aware of the broad market’s country allocations, which currently include around 65% exposure to the US. However, as active value managers, the team builds a portfolio from the bottom up, which leads the portfolio currently to markets like Europe, Latin America and Core Asia (China), with the input of the Brandywine Global macro team as a key differentiator.”
The Brandywine Global Opportunistic Equity Fund is co-managed in the US by Portfolio Manager and Director of Fundamental Research, James Clarke, and Portfolio Manager and Senior Research Analyst, Sorin Roibu, who have been involved in the management of the strategy since inception in 2013. They are also able to draw on the expertise of Brandywine's Global Macroeconomic Research team of over 30 members.
The investment team identifies investment themes through detailed research and, given Brandywine’s value-biased investment process, puts great significance on the downside risks to individual stocks, seeking to avoid permanent loss of investor capital.
“The GOE Fund utilises three main levers to assess value: Macro, Market Assessment, and Stock Selection. We believe our multifaceted process provides us with multiple paths for success," Brandywine Global Investment Director and Head of Portfolio Solutions (Australia), Richard Rauch, said.
"We are particularly proud of the team's ability to generate consistently strong long-term returns in an environment where growth stocks have continued to outperform, all while staying true to the value philosophy," he added.
Sean Henaghan, Chief Investment Officer from Aurora Capital explained, "We partner with leading specialist fund managers globally to actively oversee the underlying assets within each asset class. Our focus is on long-term growth opportunities, underpinned by a commitment to responsible investing that supports positive environmental and climate outcomes.
“Our investment in the Brandywine Global Opportunities Equity Fund reflects this philosophy. The fund offers a high- conviction, value-oriented strategy with a flexible, global mandate-allowing it to uncover opportunities across markets while applying a disciplined approach to risk and sustainability. We believe this positions it well to deliver strong long-term returns aligned with our values and our clients’ objectives."
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