Mirabaud's Narula: How we've beaten our peers without any of the FAANGs

Manager praises Global Equities Focus fund outperformance

A focus on "sustainable winners" has led to the $282m Mirabaud Global Equities Focus fund significantly beating its sector average and the MSCI AC World index over one, two and three years – as well as since its launch to the broader UK retail market in 2015 – without holding any of the high-growth FAANG stocks, according to manager Anu Narula.

Narula, who has headed up the fund since its initial launch in 2013, said he does not hold Facebook, Apple, Amazon, Netflix or Google, for various company-specific reasons. Investing in FAANGS: Ethical concerns begin to bite For instance, Amazon failed to achieve a place in the portfolio because of its "lack of transparency", according to the manager, which meant it did not pass the firm's ESG criteria. Meanwhile, Apple's growth was not deemed to be strong enough for the fund, while Netflix's propensity for long-term growth and cash generation left him unconvinced. "We do not tend ...