Majedie's Record takes 'patient' approach to market uncertainty

Keeping faith with fintech stocks

Majedie's Tom Record, co-manager of the firm's Global Equity fund, is confident the team is able to deal with market uncertainty due to being "very patient" and investing in companies "with a long-term competitive advantage".

Last year, Record said the fund benefited from investing in a diverse range of independent stocks, helping it keep pace with the IA Global sector over the past year. As at 10 March, the $44m fund had returned 1.1% compared to the 1% return of the IA Global sector, FE fundinfo data shows. One notable holding is Argentine e-commerce firm MercadoLibre, a 1.8% position that has been in the fund since launch, and which Record says has a proven payment solutions and logistics business. "MercadoLibre is exciting because it is growing its finance and fintech business. It is offering loans to ...