GLG US Equity Extended
The GLG US Equity Extended (the ‘Strategy’) employs a disciplined approach to investing in liquid US equities within a 130/30 structure.
- Managed by a seasoned portfolio management team who have worked together for 14+ years
- Investment strategy has been traded successfully for over 15+ years
- Integrates the team’s existing long-short strategy into the 130/30 methodology for additional alpha opportunity and potential downside risk mitigation
- The team employ a disciplined investment process that focuses on three key areas when assessing stocks: investment cycles, change themes and secular winners/losers
Approach
The team focus on analysing three key factors when looking to invest in stocks on either side of the book:
- Investment cycles. The team analyses each position within the context of capital, business and credit cycles and the sustainability of current trends within companies and industries
- Change themes. Monetise either change or sustainability when it is not correctly priced by investors. The team look to profit from a security’s mispricing – which is typically created when investors do not accurately understand change or sustainability in an industry or company’s business model
- Secular winners and losers. In the long book the team seek to identify companies/sectors with sustainable above trend growth and barriers to entry. In the short book the team look to identify companies and sectors with growth challenges and declining returns
The stock selection philosophy is a core part of a highly disciplined investment process that Mike Corcell has developed over 15 years. Research is strictly limited to those companies where the business model can be clearly modelled and understood and the team does not invest in credit related financials, pharmaceuticals or bio-technology stocks.
The portfolio is typically comprised of between 60-70 mid to large cap stocks1 and the team does not seek to invest in small caps, futures or indeed any derivative or basket product other than options. Furthermore, the short book is always made up of stock positions which actively seek to add value rather than dissipate or hedge risk.
| Approach | Long-only |
| Asset Class | Equity |
| Geographic Focus | US |
1. These risk guidelines and/or limits are provided for information purposes only and represent current internal risk guidelines. There is no requirement that the Strategy observes these limits, or that any action be taken if a guideline limit is reached or exceeded. Internal guidelines may be amended at any time without notice.
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