The Veritas Global strategies are focused on protecting and growing the real value of clients’ capital over our rolling 5 year investment horizon or a full economic cycle.

Global Overview

The investment process utilises a number of methods including themes to help identify industries and companies that are well positioned to benefit from medium term growth regardless of where they are located. These investment candidates are then subject to rigorous bottom up analysis culminating in detailed absolute valuations and where applicable, an assessment of the level and sustainability of dividend yield.

The aim of investment at Veritas is to generate excellent total real returns with minimal risk of permanent capital loss. As a result capital preservation and growth are considered paramount in the investment process and consequently our mindset is one of real returns. The process encompasses a global approach as we do not believe in artificially constraining our investment universe and want the flexibility to seek excellent investments wherever they may be located.

There are two phases to the Veritas real return approach. The aim of the first phase of the process is to select good quality companies for entry to our "universe of investable companies". The second phase is constructing a portfolio from stocks in the universe by remaining patient in order to pay the right price. Cash can be held in order to facilitate that patience.

The investment process is the same for all Global strategies. The difference lies at the portfolio construction stage. The Global Focus strategy is the most unconstrained. The Global Equity Income strategy aims to pay a high sustainable dividend and will be more constrained in the stocks that can be bought. The Global Real Return strategy seeks to further protect the downside by the use of index derivatives.

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Global Strategies

Veritas Global Focus Characteristics

– Concentrated global equity portfolio (25-40 positions) investing in mid to large capitalisation companies.
– Fundamentally driven portfolio with an investment horizon of 5 years or a full economic cycle.
– Identify and analyse only quality companies.
– Value disciplined. Only invest when attractive real returns achievable.
– Targeting annualised portfolios returns of OECD G7 CPI + 6-10% p.a. over rolling 5 year periods.
– Available as a segregated portfolio or a Fund.

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Veritas Global Equity Income Characteristics

– High and sustainable equity yield.
– Concentrated global equity portfolio investing in mid to large capitalisation companies.
– Fundamentally driven portfolio with an investment horizon of 5 years or a full economic cycle.
– Identify and analyse only quality companies.
– Value disciplined. Only invest when attractive real returns achievable.
– Targeting annualised portfolios returns of OECD G7 CPI + 6-10% p.a. over rolling 5 year periods.
– Available as a segregated portfolio or a Fund.

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Veritas Global Real Return Characteristics

– Concentrated global equity Fund investing in mid to large capitalisation companies.
– Fundamentally driven portfolio with an investment horizon of 5 years or a full economic cycle.
– Identify and analyse only quality companies.
– Value disciplined. Only invest when attractive real returns achievable.
– Hedging through the use of index options and futures as appropriate.
– Targeting annualised returns of OECD G7 CPI +4% p.a. over rolling 5 year periods.
– Available as a Fund.

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Veritas Izoard Characteristics

– Highly concentrated global equity portfolio (8-25 positions) investing in mid to large capitalisation companies.
– Can hold a significant portion of the portfolio in cash.
– Fundamentally driven portfolio with an investment horizon of 5 years or a full economic cycle.
– Identify and analyse only quality companies.
– Value disciplined. Only invest when attractive real returns achievable.
– Targeting annualised portfolios returns of OECD G7 CPI + 8% p.a. over rolling 5 year periods
– Available as a segregated portfolio or a Fund.

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