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Veritas Asset Management LLP

PRI reporting framework 2019

You are in Organisational Overview » Basic information

Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

The Real Return Group Limited was set up in 2003 as a boutique focused on real return investing. Veritas Asset Management (UK) Limited and The Real Return Group Limited merged in 2004.

In 2014 Veritas Asset Management LLP (VAM LLP) entered into partnership with Affiliated Managers Group, Inc. (AMG), a global asset management company with equity investments in leading boutique investment management firms. VAM LLP continues to have the same Managing Partners and Board; full investment autonomy; day-to-day operational independence and receive the majority of the revenue and economics of the firm. The Managing Partners of VAM LLP also continue to hold a substantial portion of the equity of the business.

VAM LLP is led by six Managing Partners: Charles Richardson (Fund Manager and Chairman), Ian Barnes (Chief Executive Officer, CEO), Antony Burgess (Investment Specialist), Richard Grant (Chief Operating Officer, COO), Andy Headley (Fund Manager and Head of Global), and Ezra Sun (Fund Manager and Head of Asia).

We offer both Global and Asian equity strategies which have distinct investment teams dedicated to the products offered within those strategies. The commercial team supports the investment teams and enables them to focus on investment.

Our Philosophy

Since our foundation in 2003 the VAM LLP philosophy has been built upon two founding principles of Real Returns and Partnership.

Real Returns

We manage money on behalf of clients following our Veritas Real Return Approach, implemented by an investment team with substantial experience and a proven long-term track record. The approach demands that all potential investments are analysed from an absolute basis rather than relative to any equity index. The focus is on protecting and growing our clients’ capital in real terms with exceeding an equity benchmark a fall-out of that process.

Partnership

Our business is run with a partnership structure and culture. We align our interests as owners in partnership with our clients. Our partners and employees are invested alongside our clients on the same terms. We are an investment-led organisation that controls the growth of our business. It’s important to us that clients fully understand our approach and share a similar objective or mind-set.

 


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United Kingdom

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

38 FTE

02.4. Additional information. [Optional]

Our London office is the base for majority of staff including; all fund managers and the commercial team. All of our global analysts are located in the London office and the Asian analysts are based in the Hong Kong office.


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2018

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the total assets at the end of your reporting year subject to an execution and/or advisory approach.

04.5. Additional information. [Optional]


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity >50% 91.2 0 0
Fixed income 0 0 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 6.3 0 0
Money market instruments <10% 2.5 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

The firm solely invests in the asset class of equities.


OO 07. Fixed income AUM breakdown (Not Applicable)


OO 08. Segregated mandates or pooled funds (Not Applicable)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

96.69 Developed Markets
3.30 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 99.99%

09.2. Additional information. [Optional]

The AUM breakdown includes cash held and money market instruments.


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