Square Mile adds the Goldman Sachs Growth & Emerging Markets Broad Equity Portfolio fund to its Academy of Funds
Square Mile Investment Consulting & Research (Square Mile) has added the Goldman Sachs Growth & Emerging Markets Broad Equity Portfolio fund to its Academy of Funds, awarding it a Positive Prospect Rating.
Housed within a dedicated section on the Square Mile website, and free for all advisers to access, recommended funds carry a rating - A, AA, AAA or P+ - as a mark of quality and a reflection of the level of conviction Square Mile has in a fund's ability to deliver on expectations.
Funds are awarded a Positive Prospect when Square Mile's researchers have identified them as up and coming interesting propositions, but the manager, his strategy or his process is new and has been not been thoroughly tested in all market environments. As a result, Square Mile produces a qualified rating to highlight the fund's potential, but also recognise reservations.
Amaya Assan, Investment Research Analyst, said of the Goldman Sachs Growth & Emerging Markets Broad Equity Portfolio fund,"We have a high regard for the manager, Prashant Khemka, who has built an exceptional track record running the Goldman Sachs India Equity Portfolio since inception, a fund we know well. Mr Khemka was made CIO of the group's Emerging Markets Equity team in 2013 and took charge of this fund soon after.
We believe that the investment philosophy and process the manager has followed in his Indian strategy, which is to identify sound businesses at substantial discounts, is portable to emerging markets and, thus far, the changes made have been positive. The manager has restructured the emerging markets strategy in a thoughtful fashion. The research framework has been strengthened with closer interaction between the local analysts and the manager, resulting in a richer pipeline of stock ideas. We believe the Goldman Sachs Growth & Emerging Markets Broad Equity Portfolio fund shows promise, however, we will be monitoring the evolution of the portfolio and positioning given the broader universe that the manager now covers."