By focusing on momentarily underpriced stocks, the investment policy of Parvest US Value is suitable for uncertain market conditions.
The benchmark index of Parvest US Value will be the Standard & Poor's 500 index.
Parvest US Value's investment process will feature:
· a quantitative screening and fundamental analysis of the largest 500 US stocks;
· a selection of stocks that are underpriced, notably in terms of Price to Earnings (P/E) ratio, and have good prospects for improvement in earnings;
· a concentrated portfolio comprised of between 30-40 holdings.
The management of this fund has been delegated to Pzena Investment Management LLC, a US investment management company specialised in value investing, with some 8.5 billion dollars in assets under management as of the end of September 2004.
The fund will be managed by a team of 12 analyst/managers, whose three senior members - Richard Pzena, John Goetz and Rama Krishna – will have veto authority on stock selection and portfolio construction.
Parvest US Value:
ISIN code numbers: LU0206728387 (Classic Cap)
LU0206728544 (Classic Hedged)