Objective & Investment Policy

What the Company aims to achieve and the approach taken

Investment objective

The Company’s objective is to provide Shareholders with an attractive real long-term total return by investing globally in undervalued securities. The portfolio is managed without reference to the composition of any stock market index.

Investment policy

The Company invests in a focused portfolio of approximately 30 to 40 securities of issuers throughout the world, predominantly in quoted equities. The Company may also invest in unquoted securities, which are not anticipated to exceed 10 per cent of the Company’s total assets at the time of investment. No investment in the Company’s portfolio may exceed 15 per cent of the Company’s total assets at the time of investment.

The Company has the ability to invest in other investment companies or funds but will invest no more than 15 per cent of its gross assets in other listed investment companies (including investment trusts).

The Company may also invest a substantial portion of its assets in debt instruments, cash or cash equivalents when the Investment Manager believes market or economic conditions make equity investment unattractive or while seeking appropriate investment opportunities for the portfolio or to maintain liquidity. In addition, the Company may purchase derivatives for the purposes of efficient portfolio management.

It is intended that, from time to time, when deemed appropriate, the Company will borrow for investment purposes up to the equivalent of 25 per cent of its total assets. By contrast, the Company’s portfolio may from time to time have substantial holdings of debt instruments, cash or short-term deposits.

The investment objective and policy are intended to distinguish the Company from other investment vehicles which have relatively narrow investment objectives and which are thus constrained in their decision making and asset allocation. The objective and policy allow the Company to be constrained in its investment selection only by valuation and to be pragmatic in portfolio construction by only investing in securities which the Investment Manager considers to be undervalued on an absolute basis.

The value of the shares and any income derived from them can fall as well as rise, and investors may not get back the full value of their investment.


Edinburgh Partners believes that this is the optimal number to provide diversification without having a long tail of small holdings, which in aggregate tend to detract from performance.

There is no target but as Edinburgh Partners are long term investors, turnover tends to be relatively low.

Please refer to the monthly factsheet for the most up-to-date figure.

Active Share is the measure of the percentage of the holdings in the company's portfolio that differs from the value of the shares in the index.

An Active Share of 0% would be a portfolio that exactly matches the index.

As Edinburgh Partners follow an investment approach not constrained by a benchmark it tends to be high.

Please refer to the monthly factsheet for the most up-to-date figure.

The company is managed without reference to a benchmark. There is no measurable tracking error.

EP Global Opportunities Trust has no formal cash limit.