Robin Geffen splits the world in two. There are the emerging economies of China, Brazil and India enjoying strong growth. Then there’s the UK, US and many other Western economies seeing much slower growth. So at the Neptune Global Equity Fund, Geffen “constructs the portfolio by firstly looking at the wider global economic picture to identify the trends most likely to drive growth. He then looks for the individual companies best placed to prosper,” says Richard Troue of Hargreaves Lansdown.
One key investment theme is domestic consumption in emerging economies. Wages are on the rise and people are “beginning to earn what is considered a middle-class income”, say Troue. So firms exposed to consumer spending should benefit. Geffen also invests in firms such as Apple and Google. They will also benefit from middle-class spenders.
Geffen is very bullish when it comes to Russia. “My basic thesis on Russia is that if you believe China and India will grow, then you have to believe Russia will grow because Russia is providing a lot of the things that China and India need. The UK, for instance, doesn’t have anything China needs,” says Geffen on Citywire.
He believes Russia is often overlooked due to the country’s negative image in the West. “I like investing in institutions where the reality is better than perception. I’m deeply encouraged that no one else is talking about Russia as a good investment.”
Geffen’s ideas turn into results. The fund has returned 65.9% over the past five years, compared to a sector average of 27.1%.
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