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Global Innovation team

Meet the team

Storm Uru founded the Global Innovation investment process in 2017 and was joined by Clare Pleydell-Bouverie and James O’Connor to form the Liontrust Global Innovation team. The team manage the Liontrust Global Dividend, Liontrust Global Innovation and Liontrust Global Technology funds. Storm and Clare are the lead fund managers across the range supported by James. Storm Uru has 13 years’ industry experience and holds a degree in finance from Massey University and an MBA from Oxford University, Clare Pleydell-Bouverie has 9 years of industry experience and holds a degree in history from Oxford University and James O’Connor has 10 years of industry experience and holds a degree in psychology and economics from Harvard University and a degree in education research from Oxford University.

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Our investment process

The team seeks to generate strong returns by investing in innovative companies. They believe that innovation is the single most important driver of stock returns, underpinned by three pillars:

  • Innovative companies deliver superior operational performance and shareholder returns over the long run.
  • Innovation is much more than technology and is the key to success in every sector.
  • Innovation is complementary to the traditional investment styles of value and quality, and a key part of an investment portfolio in the 21st century.

Stage 1

The team sets their investible universe to only those companies that are listed, liquid (with a market capitalisation above $1billion at the time of purchase) and have the resources to innovate (based on metrics of financial strength).

Stage 2

The team manages the Global Innovation 200 watchlist, an ever-evolving list of the most innovative companies around the world across all sectors and regions. Every company that makes it onto the list has four attributes:

  • Innovation: Creates genuine value for customers by driving down prices or providing more for its customers' money.
  • Barrier: Has strong barriers to competition to capture value for shareholders.
  • Management: Has good management with the right incentives and ability to execute.
  • Cash returns on capital: Can convert its investments in innovation into cash.

Stage 3

The team identifies the price they are willing to pay for a company using a 10-year DCF model. Their hurdle to invest is an anticipated 15% annual compound return. As part of valuation the team conducts a risk assessment, covering financial, disruptive innovation and ESG factors.

Stage 4

 

The team manages the portfolio based on the following principles:

  • Stock weights are determined by each stock's current valuation upside and its contribution to the diversification of the portfolio.
  • Portfolio fundamentals are monitored through management meetings, company results, and announcements and industry research.
  • The team's typical intended holding period is three to five years. Stocks are sold for three reasons: they hit their target price, a better opportunity is identified on the watchlist or there is a breakdown in fundamentals.

To read the full process, please click the button below.

DOWNLOAD PROCESS DOCUMENT

Funds managed by the team

Funds managed by the team

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