The global equity universe is a vast and broad domain, with investor search activity spread across many different strategy types, writes Tom Ashford.
While not quite an infinite prospect, it is perhaps no surprise that global equity makes up the largest universe on CAMRADATA Live. However, the territory is as broad as it is vast. As the world grows smaller, the global equities universe is getting larger, creating a wide variety of opportunities for investors. In this increasingly connected world, there are now many small and mid-cap companies that have a global footprint to go alongside the traditional multinational behemoths, creating many different approaches to global equity investing.
This assortment of choice is reflected by the breakdown of global equity vehicles on CAMRADATA Live, as well as investor search activity. By size, all-cap vehicles make up the majority of the universe, while by style, core is the most common strategy, with growth, value and no predominant style vehicles also making up a sizeable proportion of the global equity universe.
Investor search activity is closely correlated to the size of the universe, with investors in the global equity sphere tending to focus on all-cap or large-cap vehicles. Likewise, when we focus on style, core is the most popular choice by search activity.
Interestingly, growth strategies have proved slightly more popular than value strategies over the past 12 months. This is perhaps explained by the outperformance of growth strategies in comparison to value strategies since the 2007-08 financial crisis.
The breadth of the global equity universe is best demonstrated by the range of the top-five most searched on managers across the main global equity universes. Among core strategies, Fidelity International is top of the list, while among growth and value strategies, Artisan Partners Limited Partnership and Franklin Templeton Investments are the most searched on, respectively.
Tom Ashford is database support and investment research associate at CAMRADATA, the owner of Funds Europe. All figures are for September 30, 2019 unless otherwise stated.
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