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Compass Group

PRI reporting framework 2020

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]

Compass Group began its operations back in 1995 in New York when a group of former Citibank Global Emerging Markets executives decided to form Compass Group LLC as a Latin American focused bottom-up, research-driven asset manager for institutional and private investors in Latin America. Over the course of the following years, new operations were established throughout Latin America significantly expanding Compass Group business activities and client portfolio.

Compass Group LLC became a SEC-Registered Investment Advisor in 2000. As of today, after the development of capital markets in the region, the Investment Manager has branch offices in New York, Argentina and Chile and affiliate offices in Peru, Colombia, Brazil, Mexico and Uruguay (altogether, the "Firm"). The Firm has a diversified offering of Latin American investment strategies across equities and credit.

Compass Group has been managing Latin American strategies since 1996. The first fund, Compass Income Fund, was launched in that year focusing on Latin American debt, while the first LatAm Equity Strategy was launched in 2005. As a result of Compass Group's extensive history of investing in the region, it has created an extensive network and strong regional presence, resulting in local intelligence. The Firm leverages this using its differentiated bottom-up investment analysis, which has demonstrated and it believes will continue to generate alpha through most investment cycles.


OO 02. Headquarters and operational countries

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

Chile

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).

323 FTE

02.4. Additional information. [Optional]

In total, there are 49 investment professionals (portfolio managers, analysts, risk management professionals, and traders) fully dedicated to covering Latin American markets based in the USA, Mexico, Peru, Colombia, Argentina, Brazil, and Chile. Compass Group analysts contribute to bottom-up research as generalists (covering both equity and fixed income). The portfolio managers leverage the Firm's infrastructure and investment professionals in order to maximize access to local, country specific insight and capabilities that the Firm believes are integral to alpha generation.

Compass Group’s investment philosophy and process have been built and refined based on the knowledge and experience gained from 20+ years of investing in Latin American equity and fixed income markets. The model fully integrates U.S. and Latin American local intelligence to help identify and benefit from inefficiencies across the region’s complex markets.

Compass Group’s investment philosophy is aimed at generating alpha through active bottom-up selection, subject to top-down considerations. Bottom-up, high-touch, original fundamental analysis and disciplined research underpins high conviction positioning, seeking to profit from long-term top performing issuers. The investment team aims to meet regularly with issuers throughout the region and keep close contact with them across multiple levels to strengthen the analysis, all while working within the framework of legal and regulatory restrictions. Top-down views are used to frame the portfolios’ risk profiles, filter the investable universe, and enhance the portfolio monitoring process.

The Firm’s culture of discipline revolves around three pillars: investment case, investment process and risk management. Strategy investment cases serve as a guide for idea origination for all investment professionals. Portfolio managers’ skills are leveraged by designing strategy-specific Investment Processes, which are benchmark agnostic. The Firm’s concentrated portfolios tend to carry less risk than each of their relevant asset classes. Portfolio managers are accountable for portfolio construction, supported by constant risk management monitoring by an independent risk analysis team, the Firm’s Chief Investment Officer (CIO). Monthly risk management committees, which include other portfolio managers and partners, challenge positioning, review mandate execution, and assist with best practices.

Compass Group increasingly focuses on the integration of environmental, social and governance (“ESG”) issues across its portfolios. As stewards of clients’ financial capital, Compass Group has a stake in encouraging robust ESG practices within its invested companies. Compass Group’s fundamental bottom-up analyses have long considered ESG issues as a key input in the sustainability of an individual company’s investment case. Compass Group deploys a proprietary corporate governance rating across its priority coverage universe and expects to continue developing methodologies to assess environmental and social risk factors that may become material within the forecasting period. In accordance with this philosophy, Compass Group has implemented an approach to 1) screen and evaluate, 2) engage with issuers, 3) integrate actionable metrics into the investment process, and 4) customize clients’ ESG preferences.

The Firm believes that informational, analytical, and liquidity inefficiencies in Latin American capital markets will remain relevant in the future and that Compass, with its investment philosophy and unique infrastructure, is well positioned to capture excess returns on behalf of its investors.


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.

31/12/2019

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 assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

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% 67.67 0 0
Fixed income 10-50% 32.36 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 0 0 0 0
Money market instruments 0 0 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]


OO 07. Fixed income AUM breakdown (Private)


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.

9 Developed Markets
82 Emerging Markets
4 Frontier Markets
5 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

“Other Markets” includes AUM attributed to Panama and Uruguay. 


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