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International Equity EAFE investing

Our approach to International Equity - EAFE

Benjamin Beneche - Co-Lead, Fabio Paolini - Co-Lead

Pictet AM's International Equity - EAFE investment approach is built on a belief that a company's intrinsic value is driven by its future ability to generate cash returns.


A recording of our SmartCity webcast is available here.

webinar



A recording of our SmartCity webcast is available here.

webinar

 


Listen to the team's latest webcast to hear them go through concrete stock examples:

webinar


Patience, courage, persistence...

Adopting the mind-set of a business owner, rather than just a stockholder, is key to how our International Equity - EAFE investment team operates. It drives discipline into our process, gives us a long-term perspective and informs the questions we ask of potential investments.

Our independent research focuses on identifying a business’ return on investment, its scope for future growth and its cash generation potential.

A key question we also ask ourselves is why our conservative assessment of intrinsic value is not reflected in the market price. The answer to this question is frequently time horizon, which we believe is our single biggest advantage. Many other investors are distracted by short-term ‘noise’, thereby creating opportunities for patient, long-term investors like ourselves.

© Pictet Asset Management 2018


Our objective is simple: establish what a company is worth and pay a lot less for it.

 

The intrinsic value we identify is far less volatile than stock price and provides the central reference point for our discipline in buying, sizing and selling investments for the portfolio. Consistent application of this approach through market cycles has built a long-term track record we are proud of and should continue to help us deliver superior long-term returns for our clients.

Owner's Manual

Read more about our investment philosophy and approach:

 Download the Owner's Manual

 Pdf


 

Long-term track record

The Pictet International Equity - EAFE strategy has a track record going back to 1995. As the chart below shows, the strategy has achieved consistent returns versus the performance comparison index since inception.

Pictet International Equity - EAFE Rolling 5-year returns versus MSCI EAFE (NDR) Index

Gross of fees in USD

Pictet EAFE 5yr.png
The composite encompasses actively managed portfolios invested in International Equity - EAFE. Data is gross of fees, from inception 31.08.1995 to 30.06.2019. Past performance is not a guide to future performance. Source: Pictet Asset Management

The strategy is currently managed by Fabio Paolini and Benjamin Beneche who have been working together on it since 2012.

The portfolio managers are supported by a dedicated team of investment analysts and a senior product specialist, Charles Price.


A recording of our SmartCity webcast is available here.

webinar



A recording of our SmartCity webcast is available here

For more information on our strategy, contact your usual Pictet AM representative or click on 'Contacts' at the bottom of this page.