67 WALL STREET, New York - December 16, 2013 - The Wall Street Transcript has just published its Top Ten Portfolio Manager Interviews of 2013 Report. This special feature contains expert industry commentary through in-depth interviews with highly successful Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Top Ten Portfolio Manager Interviews of 2013
Companies include: Global Value Investments
In the following excerpt from the Top Ten Portfolio Manager Interviews of 2013 Report, an experienced portfolio manager discusses his global investing methodology and top picks:
TWST: What are some of the advantages of global investing?
Mr. Horn: I started investing globally in the early 1980s, and at the time, it was an unpopular investment strategy because of foreign market risk and less globalization. Yet even then there were some inherent advantages that endure today - diversification, flexibility and opportunity. If you have money spread around in 10 or 20 different countries, you can achieve better diversification with less risk than putting all your money in a single country. Today, the Polaris Global Value Fund has holdings in at least 15 different countries and industry groups.
We can focus on finding the most undervalued companies in the world, regardless of country, industry or market capitalization. We also have the flexibility to invest in emerging markets, providing an additional avenue for exposure to some of the world's fastest-growing economies. We frequently identify opportunities in a particular sector or country that don't exist in other countries. For example, the Fund holds China-based Guangdong Investment (0270.HK), a water company that supplies all the drinking water to Hong Kong. If you want to invest in the steady stream of cash flow from supplying water in Hong Kong, you couldn't possibly make that investment by buying any other company.
We seek opportunities across all market caps, acknowledging that many of the new ideas, innovations and disruptive technologies stem from small and midcap companies. If you want to invest in the growth of the world, one way would be to pinpoint newly formed companies or parts of the world that are growing a little bit faster than one's home country.
TWST: Would you tell us about the investment philosophy for the Polaris Global Value Fund (PGVFX)?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.