Fondsmaeglerselskabet Maj Invest A/S (“Maj Invest”) has been added to the SGMF Global Equity Fund (the Fund) as at 26 July 2017.

Addition of Maj Invest

What They Do
Maj Invest’s investment team believes in buying quality companies at reasonable prices—whether by targeting depressed valuations, underappreciated profit generators, or a combination—and that the market is predominantly efficient, but that pockets of inefficiency arise when companies experience temporary headwinds. The team adheres to a conservative value-oriented philosophy that emphasises stability.

How They Do It
Most of the team’s initial investment ideas are generated by a quantitative screen that is run on a weekly basis, evaluating approximately 6,000 companies according to quality, value and momentum. The screen narrows the universe of investable companies to between 80 and 100, which are then further researched.

The team tends to avoid countries or industries that have high downside risks whilst qualitative analysis helps the team avoid errors of omission. All companies must pass quality and profitability tests to be considered for the final portfolio, which is composed of 25 to 35 high-conviction, undervalued stocks.

Sell discipline is driven by valuation rather than momentum, and Maj uses a proprietary risk-management tool for both portfolio construction as well as ongoing risk monitoring.

About Maj Invest
Founded in 2005 and headquartered in Copenhagen, Denmark, Maj Invest is the asset-management arm of the Maj Invest Group. Its history dates back to the founding of the Danish government-sponsored entity LD Pensions in 1980. As at 31 December 2016, it had $8.4 billion in assets under management.

 

Glossary of Financial Terms:

• Bottom-up: Bottom-up managers focus on individual stock selection instead of the overall economic environment.
• Fundamental: Fundamental analysis is based on analyst research and judgement.
• Qualitative: Qualitative refers to security analysis based on analyst research and subjective views.
• Quantitative: Quantitative analysis is based on computer-driven models.

IMPORTANT NOTE: The opinions and views contained in this document are solely those of SEI and are subject to change; descriptions relating to organisational structure, teams, and investment processes herein may differ significantly from those prescribed by underlying managers regarding their own investment houses and investments.

Important Information:

Past performance is not a guarantee of future performance.

Investments in SEI Funds are generally medium to long term investments. The value of an investment and any income from it can go down as well as up. Investors may not get back the original amount invested. Additionally, this investment may not be suitable for everyone. If you should have any doubt whether it is suitable for you, you should obtain expert advice.

No offer of any security is made hereby. Recipients of this information who intend to apply for shares in any SEI Fund are reminded that any such application may be made solely on the basis of the information contained in the Prospectus. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any stock in particular, nor should it be construed as a recommendation to purchase or sell a security, including futures contracts.

In addition to the normal risks associated with equity investing, international investments may involve risk of capital loss from unfavourable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Bonds and bond funds are subject to interest rate risk and will decline in value as interest rates rise. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. Narrowly focused investments and smaller companies typically exhibit higher volatility. SEI Funds may use derivative instruments such as futures, forwards, options, swaps, contracts for differences, credit derivatives, caps, floors and currency forward contracts. These instruments may be used for hedging purposes and/or investment purposes.

While considerable care has been taken to ensure the information contained within this document is accurate and up-to-date, no warranty is given as to the accuracy or completeness of any information and no liability is accepted for any errors or omissions in such information or any action taken on the basis of this information.

This information is issued by SEI Investments (Europe) Limited, 1st Floor, Alphabeta, 14-18 Finsbury Square, London EC2A 1BR which is authorised and regulated by the Financial Conduct Authority. Please refer to our latest Full Prospectus (which includes information in relation to the use of derivatives and the risks associated with the use of derivative instruments), Key Investor Information Documents and latest Annual or Semi-Annual Reports for more information on our funds. This information can be obtained by contacting your Financial Advisor or using the contact details shown above.