Hume Capital to launch Global Opportunities OEIC

Hume Capital is launching an unconstrained Global Opportunities fund on March 28.

Stephen Watson, fund manager, aims to identify 40 to 60 mid- to large-cap companies within the MSCI World index to form the core of the fund’s portfolio.

The holdings will initially be focused on Asian stocks with exposure to Far East countries and also to European and UK companies that sell infrastructure and energy equipment to EM.

The fund will also invest in Western companies specialising in communication technology and Blackberry producers, such as Ericsson.

Watson says: “While developed markets are seeing a revival of manufacturing and new technologies industries, in Asia there is a powerful switch to a much more domestic demand-driven economy, rapidly shifting toward consumer spending.

“The retail sales and the service sector are growing at twice the rate of GDP and this is where we are looking at the moment."

Conversely, the fund will be underweight US equities to a significant extent for the near future.

Hume is offering discounted terms until June 2011, with the annual management charge reduced to 0.5%.