International Equity

Our approach

Troy’s International Equity Strategy is a high-conviction, low-turnover portfolio of quality businesses designed to deliver long-term capital growth. We aim to outperform the MSCI EAFE Index by 200bps (net p.a.) over rolling periods of five years and longer.

The Strategy invests in developed markets outside the United States.

The portfolio consists of a concise list of 25-30 holdings, constructed according to a bottom-up assessment of the businesses and their valuation. We aim to strike a deliberate balance between growth, profile of earnings and valuation to create a mix of high-quality businesses with different characteristics, risk profiles and growth drivers.

Strategy materials

How we invest

Our focus is on durable growth, strong capital allocation, and competitively advantaged businesses, underpinned by a consistent, disciplined investment process and focussed, long-term research.

We adopt a two-step process. Firstly, we rank businesses against each other along four metrics:

Valuation
Corporate governance
Scope for sustained operational improvement
Confidence in the long-term growth opportunity.

This process allows us to rank our businesses, giving us a capital allocation baseline.

From there, we adjust these baseline weights to ensure that the portfolio is balanced across countries and sectors, and that we are not taking large unintended bets at the portfolio level.

International Equity team

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This website as well as the securities described on this website are not intended for use and are not offered in the United States of America (including the District of Columbia or any other territory occupied or possessed by the United States of America) or to U.S. Persons (including residents of the United States of America, residents within an area subject to its jurisdiction and U.S. Persons who are resident outside the United States of America). As such, by accepting these terms you represent and warrant that you are not a U.S. Person as defined under Regulation S of the United States Securities Act of 1933, as amended.

U.S. Persons interested in services provided by Troy should instead contact us directly on [email protected] or call +44 (0)20 7499 4030.

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Risk warnings

The value of investments and the income from them may go down as well as up and investors may get back less than they invested. Changes in rates of exchange may cause the value of investments to go up or down. Past performance is not a guide to future performance.

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We keep our terms and conditions under review. These terms and conditions were most recently updated on 8 September 2023.

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General

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Contact details

Troy Asset Management Limited, 33 Davies Street, London W1K 4BP, United Kingdom; Telephone +44 (0)20 7499 4030; Email [email protected]. Troy Asset Management Limited is a limited company registered in England and Wales under company number 3930846 and has its registered office at 33 Davies Street, London W1K 4BP , United Kingdom. Except where otherwise required by applicable law or regulations, all communication and documentation sent to you by Troy will be in English. You may communicate with us in English.

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