MID WYND INTERNATIONAL: New 経営者/支配人s 目的(とする) to 証明する 広大な/多数の/重要な 会社/堅いs can make 広大な/多数の/重要な 投資s

It has been all change at 投資 信用 中央の Wynd International over the past six months. New 経営者/支配人s have been 任命するd, the 基金's 大臣の地位 has been 精密検査するd, and the 信用's 告発(する),告訴(する)/料金s have been 減ずるd.

Although it is too 早期に to 査定する/(税金などを)課す whether the 変形 will result in 高めるd returns for 株主s, the new 基金 経営者/支配人s are 確信して that the refresh will be to the 利益 of 投資家s.

'Our philosophy is simple,' says Louis Florentin-物陰/風下, who, with Barnaby Wilson, now runs the £411 million 信用, which is 名簿(に載せる)/表(にあげる)d on the London 在庫/株 交流. '広大な/多数の/重要な companies can make 広大な/多数の/重要な 投資s.'

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The 二人組 work for Lazard 資産 管理/経営, which won the race to take over at the 信用 last October. They unseated 投資 house Artemis after the 信用's board became 関心d when the 経営者/支配人s 割り当てるd to the 基金 left the 会社/堅い.

Lazard's approach is built around identifying '質 growth' companies ? 全世界の 商売/仕事s that 生成する 維持できる long-称する,呼ぶ/期間/用語 利益(をあげる)s from the 資本/首都 they 雇う, その為に creating value for 株主s. It is an 投資 戦略 that Lazard developed 13 years ago, and 資産s 価値(がある) £1.6 billion are run によれば such a 委任統治(領).

'投資 theory 明言する/公表するs that market 支配 cannot 固執する because of the 法律s of 競争,' says Florentin-物陰/風下. 'We fundamentally 同意しない with this. Some 商売/仕事s can build 強健な moats around what they do, and as a result 栄える long-称する,呼ぶ/期間/用語 and resist 競争の激しい forc es.'

Lazard says there are 200-加える 質 growth companies that it 監視するs. These are all characterised by operating in markets where 障壁s to 入ること/参加(者) make it difficult for competitors to make 効果的な challenges to the status quo. They all also have the ability to keep making 利益(をあげる)s and reinvesting in their 商売/仕事s.

The only differentiator is their market valuation ? which 決定するs whether Lazard buys, 持つ/拘留するs or sells them. 現在/一般に, 中央の Wynd has 41 holdings, only six of which remain from the Artemis 時代. A 最近の 新規加入 to the 大臣の地位 is スイスの-名簿(に載せる)/表(にあげる)d 付加価値税 Group, a 生産者 of vacuum 弁s used in the 製造(する) of 半分-conductors.

'The 弁s play a 批判的な 役割 in 確実にするing the 半分-conductor 生産/産物 過程 is not corrupted by dust 粒子s,' says Florentin-物陰/風下.?

'付加価値税 has 75 per cent market 株 and 供給(する)s the likes of Dutch 巨大(な) ASML and Taiwan 半導体 製造業の Company. Its importance is such that it is often brought into the designing of new 製品s.'

Another 持つ/拘留するing, which was bought last October, is US-名簿(に載せる)/表(にあげる)d Amphenol, a 製造業者 of electronic and fibre-視覚の の間の-connectors which are used in the 航空宇宙学 and car 産業s.

'Without them, your laptop would not work,' says Wilson. 'Amphenol is renowned for the 質 of its 製品s and its 持つ/拘留する on the market is such that it 生成するs high returns on the 資本/首都 it 雇うs.'

Only one UK-名簿(に載せる)/表(にあげる)d company makes it into 中央の Wynd's 大臣の地位 ? analytics company RELX. But the 経営者/支配人s 主張する that there are lots of 'high 質 UK 商売/仕事s' on t 相続人 watch 名簿(に載せる)/表(にあげる).?

ーに関して/ーの点でs of returns, Florentin-物陰/風下 and Wilson have 配達するd respectable 株主 伸び(る)s of 10 per cent over the past six months. But their 戦略 is very much 焦点(を合わせる)d on the long-称する,呼ぶ/期間/用語 ? companies they buy into tend to be held for between seven and ten years.

全体にわたる 年次の 基金 告発(する),告訴(する)/料金s are 0.62 per cent, lower than when Artemis was 経営者/支配人. Income 世代 is of 第2位 importance with 支払い(額)s 同等(の) to one per cent per 年. The 株式市場 身元確認,身分証明 code is B6VTTK0 and the ticker is MWY.

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