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.'

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 cap ital 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 軍隊s.'

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 their 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 ma nager. 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.