Hi there! Welcome to the new look Pendal website... Take a two minute tour to see what we’ve changed.

Mainstream Online Web Portal

Investors can view their accounts online via a secure web portal. After registering, you can access your account balances, periodical statements, tax statements, transaction histories and distribution statements / details.
Advisers will also have access to view their clients’ accounts online via the secure web portal.

Fly to

Fly to:

About Key dates Thursday agenda Funds of focus Contact us

Welcome!

We are very excited to be part of your Best of Breed experience this year. To help you on your travels, and avoid weighing you down with paper, we’ve created this one stop shop of content and resources.

Here you’ll find key information regarding our time together in London and useful information about the two funds of focus for this trip.

Key dates for your diary

Sep 06

Wednesday,
September 6

7:00pm

Dinner - ‘O ver St James’s - 1 Norris Street, St James’s Market, London

Sep 07

Thursday,
September 7

08:45am-12:00pm

J O Hambro
Level 3, 1 St James's Market, London
SW1Y 4AH

Thursday agenda

8:45-9:00am
Arrival and office tour

Laurice Considine – Head of Strategic Accounts and Asset Consultants

9:00-9:10am
Opening and business update

Graham Kitchen – Head of Investment Strategy

9:10-9:30am
Introduction to the Pendal Global Select Fund

Beware good houses in bad neighbourhoods

Nudgem Richyal – Senior Fund Manager, Pendal Global Select Fund

9:30-10:00am
Break out session
10:00-10:30am
Portfolio construction discussion and Q&A

Have equity markets changed since covid? Does equal weighted still work?  What’s more important, sector or country?

10:30-10:55
Break
10:55-12:00pm
Building a more resilient emerging markets allocation

Investing in Emerging Markets equities goes right or wrong at the country level

James Syme, CFA – Senior Fund Manager, Paul Wimborne – Senior Fund Manager, Ada Chan – Fund Manager

Funds of Focus for Best of Breed 2023

  • Pendal Global Select Fund
  • Pendal Global Emerging Markets Opportunities
Pendal Global Select Fund

A 'quantamental' global equities fund combining quantitative and fundamental investing with decades of experience.

The Pendal Global Select Fund is an actively managed portfolio of global shares. The Fund aims to provide a return (before fees, costs and taxes) that exceeds the MSCI
ACWI NR Index (net dividends reinvested) in AUD over rolling 5 year periods.

What makes us different?


A differentiated portfolio

You won’t see all the same old names here. This is a very different approach that complements existing global equities strategies. “Our clients have already got loads of Amazon and loads of Apple — they don’t need any more,” says Chris Lees. “We offer a process and a portfolio that is different.”

A “quantamental” approach

The team first uses sophisticated, dynamic quant screens to quickly identify interesting parts of a market. This narrows the universe to 50 or 100 stocks with the best combination of growth, valuation and trend.

The team then focuses fundamental research on the “best of the best”, augmented by 40-plus investment professionals at JOHCM and Regnan. “So we don’t waste our precious time looking at the average company,” says fund manager Chris Lees.

Chris and senior fund manager Nudgem Richyal focus on “fat tail winners” such as long-term compounders, stocks in early-stage growth or those undergoing transformation or recovery.

The process also weeds out “fat tail losers” such as value traps, growth traps or frauds. “Investing isn’t just what you own, a huge amount is about avoiding the losers,” Chris says.

The team’s approach also provides greater exposure to midcap (size factor) stocks which enhance returns over the long term.

The global resources of JOHCM
Chris and Nudgem are a team of two, but they benefit from the work of more than 40-plus investment professionals at JOHCM and Regnan. The Fund is named “Global Select” because it includes the best stocks from those portfolios, Chris says.

“The portfolio we deliver for our clients is roughly 50 per cent of ideas sourced from Chris and Nudgem and 50 per cent of JOHCM sourced ideas. “We’re selecting the best of the best. We’re ‘open source’ if you like. That is one of our key differentiators.”

Equal weighting

The Pendal Global Select Fund consists of 30 to 60 equal-weighted stocks. Equal-weighting is key to the fund’s long-term success.It quickly highlights under-performers, prevents risk from becoming concentrated in a handful of names, and provides greater exposure to midcap stocks which can enhance returns over the long term.

Humans often make bad investment decisions “because we suffer from overconfidence bias”, says senior fund manager fund manager Chris Lees.

“One of the ways to avoid overconfidence bias is to equally weight your portfolio.

“It’s really good risk control. It allows all the stocks to be very high conviction.

“The ones that are right, we let them run and trim them back to equally weighted every now and again. With any that are wrong, we are systematically forced to sell them.”

Our Team
Chris Lees
Senior Fund Manager
+ Read bio
- Hide bio
Chris has more than 33 years of industry experience. He joined Pendal Group’s UK-based asset manager J O Hambro Capital management in 2008. Chris has worked closely with Pendal Global Select Fund’s other senior fund manager, Nudgem Richyal, for more than 20 years. Before JOHCM Chris headed up Baring Asset Management’s Global Sector team. He spent 19 years at Baring. He also held positions as senior portfolio manager (US equities) in Boston and as an analyst in the UK stock selection and global asset allocation teams. Christopher is a CFA Charterholder and holds a BSc (Hons) in Geography from University of London.
Nudgem Richyal
Senior Fund Manager
+ Read bio
- Hide bio
Nudgem has more than 23 years of industry experience, joining Pendal Group’s UK-based asset manager J O Hambro Capital management in 2008. Nudgem has worked closely with Pendal Global Select Fund’s other senior fund manager, Chris lees, for more than 20 years. Nudgem was previously an investment director with Baring Asset Management’s global equity group and managed one of London’s biggest Latin American funds. Nudgem is a CFA Charterholder and holds a first class BSc (Hons) in Chemistry from the University of Manchester.
Helpful Resources
Pendal Global Emerging Markets Opportunities

A unique, country-driven emerging markets equity strategy, delivered by a highly experienced team of specialist investors.

The fund is an actively managed portfolio of global emerging market shares, managed by J O Hambro Capital Management Limited. The Fund aims to provide a return (before fees, costs and taxes) that exceeds the MSCI Emerging Markets (Standard) Index (Net Dividends) in AUD over the long term.

What makes us different?

  1. A differentiated, country-driven approach. Emerging markets go right and wrong at the country level. We typically own fewer than half the countries in the index. Deep understanding at a state level is also important to avoid national crises that periodically occur in EM.
  2. Emerging Market expertise.  Great diversity in economic development, political systems, industry and natural resources drives a wide range of performance in EMs. Our experienced, specialist EM portfolio managers use this wide return dispersion to add value. The team is focused only on EM and only on this strategy.
  3. High-conviction. The fund typically owns 40-60 stocks. We are index agnostic at the stock level.
Our Team
James Syme
Senior Fund Manager, JOHCM
+ Read bio
- Hide bio
Prior to joining JOHCM, James spent five years at Baring Asset Management (Baring) as the Head of Global Emerging Market Equities. James previously worked at SG Asset Management for seven years as a Portfolio Manager and as Head of Global Emerging Markets. Prior to 1997, James was a Portfolio Manager at Henderson Investors and an Analyst at H Clarkson. James is a CFA Charterholder and holds a BA (Hons) in Geography from the University of Cambridge.
Paul Wimborne
Senior Fund Manager, JOHCM
+ Read bio
- Hide bio
Prior to joining JOHCM, Paul spent over four years at Baring Asset Management as an Investment Manager in the Global Emerging Markets team. He previously worked at Insight Investment as a Fund Manager in the Emerging Markets & Asia team and for five years in the Emerging Markets team at Rothschild Asset Management. Paul holds a BSc (Hons) in Management and Chemical Sciences from UMIST and is an affiliate member of the CFA.
Ada Chan
Fund Manager, JOHCM
+ Read bio
- Hide bio
Prior to joining JOHCM, Ada spent three years at GMO LLC as an Investment Analyst. She previously worked at Baring Asset Management as an Equity Research Analyst. Prior to 2000, she worked as an International Management Trainee and Equity Research Intern at State Street Corporation and Salomon Smith Barney respectively. Ada holds an MSc in Computer Information Systems and BA in Business Administration, both from Boston University.
Helpful Resources

Contact details for the team during
your time in London

Laurice Considine
Head of Strategic
Accounts and Asset
Consultants
+61 419 541 337 laurice.considine@pendalgroup.com

This webpage has been prepared by Pendal Fund Services Limited (PFSL) ABN 13 161 249 332, AFSL No 431426 and the information contained within is current as at the date of its publication. It is not to be published, or otherwise made available to any person other than the party to whom it is provided. PFSL is the responsible entity of, and issuer of units in the Pendal Global Select Fund ARSN: 651 789 678 and Pendal Global Emerging Markets Opportunities Fund ARSN: 159 605 811 (the “Funds”). A product disclosure statement (PDS) is available for each class in the Funds and can be obtained by calling 1300 346 821 or visiting www.pendalgroup.com. The Target Market Determination (TMD) for the Funds are available at www.pendalgroup.com/ddo. You should obtain and consider the relevant PDS and TMD before deciding whether to acquire, continue to hold or dispose of units in the Funds. An investment in the Funds is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. This webpage is for general information purposes only, should not be considered as a comprehensive statement on any matter and should not be relied upon as such. It has been prepared without taking into account any recipient’s personal objectives, financial situation or needs. Because of this, recipients should, before acting on this information, consider its appropriateness having regard to their individual objectives, financial situation and needs. This information is not to be regarded as a securities recommendation. Past performance is not a reliable indicator of future performance.

Let us answer your questions

Apply now

Apply to invest in one of our funds now

Contact Us

Keep updated

Subscribe to our communications