Brickwood Asset Management, the value equities boutique founded by Ben Whitmore, has launched a global fund.
The TM Brickwood Global Value fund is the firm’s second strategy and follows the launch of the TM Brickwood UK Value fund last month.
The global strategy will be co-managed by Ben Whitmore and Dermot Murphy, who will aim to identify undervalued securities and wait for the market to recognise their value. They will focus on large- and mid-cap companies and will endeavour to outperform the MSCI All Country World Index, net of fees, over rolling five-year periods.
Murphy said: “Investing on a global basis allows us to create a portfolio with extremely low valuations without having to concentrate the fund in any single region or sector. We believe this combination of low valuation and high diversification creates a very compelling investment proposition.”
Kevin Murphy, who manages Brickwood’s UK fund and will provide support on the global strategy, said Brickwood invests in high-quality companies facing temporary issues. “We want the company to have generated good cashflow in the past and to have a strong balance sheet, such that it can survive through the tough times,” he said.
Before establishing Brickwood, Whitmore and Murphy worked together at Jupiter Asset Management, where they managed the Jupiter Global Value Equity fund, among others.