{"id":8834,"date":"2026-02-25T15:24:44","date_gmt":"2026-02-25T15:24:44","guid":{"rendered":"https:\/\/www.taml.co.uk\/2\/?post_type=wpa_strategies&#038;p=8834"},"modified":"2026-02-25T15:24:46","modified_gmt":"2026-02-25T15:24:46","slug":"international-equity","status":"publish","type":"wpa_strategies","link":"https:\/\/www.taml.co.uk\/2\/strategies\/international-equity\/","title":{"rendered":"International Equity"},"content":{"rendered":"\n<div class=\"block-fade content-links-icons\">\n\t<div class=\"flex-container\">\n\t\t\n\t\t<div class=\"half-column content-links-icons-content\">\n\t\t\t\n\t\t\t\t\t\t\t<h2>\n\t\t\t\t\tOur approach\t\t\t\t\t\t\t\t\t<\/h2>\n\t\t\t<p>Troy\u2019s 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.<\/p>\n<p>The Strategy invests in developed markets outside the United States.<\/p>\n<p>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.<\/p>\n\n\t\t<\/div><!-- .content-links-icons-content -->\n\t\t\t\n\t\t<div class=\"half-column content-links-icons-icons no-line-above\">\n\t\t\t\n\t\t\t\t\t\t\t<h3>\n\t\t\t\t\tStrategy materials\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<ul>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li style=\"background-image: url(https:\/\/www.taml.co.uk\/2\/wp-content\/themes\/troy\/assets\/src\/images\/blue-check@2x.png)\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.taml.co.uk\/2\/wp-content\/uploads\/2026\/02\/Troy-International-Equity-Strategy-Primer-July-2025.pdf\">\n\t\t\t\t\t\t\t\t\tInternational Equity Primer \t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li style=\"background-image: url(https:\/\/www.taml.co.uk\/2\/wp-content\/themes\/troy\/assets\/src\/images\/blue-check@2x.png)\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.taml.co.uk\/2\/wp-content\/uploads\/2026\/01\/Troy-International-Strategy-Annual-Letter-2025.pdf\">\n\t\t\t\t\t\t\t\t\tAnnual Letter 2025\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\n\t\t<\/div><!-- .content-links-icons-icons -->\n\t\t\n\t<\/div><!-- .flex-container -->\n\t\t\n\t<div class=\"clear\"><\/div>\n\t\t\n<\/div><!-- .content-links-icons -->\n\t\n\n\n\n<div class=\"block-fade full-width-content hero-section hero-type-image  hero-colour-off\" style=\"background-image: url(https:\/\/www.taml.co.uk\/2\/wp-content\/uploads\/sites\/8\/2022\/04\/Background-water-1.jpg)\">\n\t\n\t<div class=\"hero-overlay\"><\/div>\n\t\n\t<div class=\"inner-container\">\n\t\n\t\t\t\t\t<div class=\"troy-heading\">\n\t\t\t\t<h2>\n\t\t\t\t\tHow we invest\t\t\t\t\t\t\t\t\t<\/h2>\n\t\t\t<\/div>\n\t\t<p>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.<\/p>\n<p>We adopt a two-step process. Firstly, we rank businesses against each other along four metrics:<\/p>\n<ul>\n<li><span style=\"color: #ffffff\">Valuation<\/span><\/li>\n<li><span style=\"color: #ffffff\">Corporate governance<\/span><\/li>\n<li><span style=\"color: #ffffff\">Scope for sustained operational improvement<\/span><\/li>\n<li><span style=\"color: #ffffff\">Confidence in the long-term growth opportunity.<\/span><\/li>\n<\/ul>\n<p>This process allows us to rank our businesses, giving us a capital allocation baseline.<\/p>\n<p>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.<\/p>\n\t\t\n\t\t\n\n\t<\/div><!-- .inner-container -->\n\n<\/div><!-- .hero-section -->\n\n\n<div class=\"team-blocks\">\n\t\n\t\t\t<div class=\"container\">\n\t\t\t<h2 class=\"team-block-title\">\n\t\t\t\tInternational Equity team\t\t\t<\/h2>\n\t\t<\/div>\n\t\t\n\t<div class=\"container team-block-loop\">\n\t\t\n\t\t<div class=\"team-block-section\">\n\t\n\t\t\t\t\t\t\n\t\t<\/div><!-- .team-blocks-section -->\n\t\n\t<\/div><!-- .team-block-loop -->\n\t\n<\/div><!-- .team-blocks -->\n\t\n<div class=\"team-blocks-popups\">\n\t<\/div>\n\n\n<p><\/p>\n\n\n\n<div class=\"block-fade content-with-downloads\">\n\n<\/div><!-- .content-with-downloads -->\n\n\n<p><\/p>\n","protected":false},"template":"","class_list":["post-8834","wpa_strategies","type-wpa_strategies","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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