7. Types of Clients culminating in conviction portfolios of high-quality
DGFM offers management and individual stocks held at appropriate valuations.
discretionary investment management services to
the following types of clients: A proprietary database of c.15,000 stocks across all
investable markets is the starting point for idea
π AIFs, UCITS and other pooled investment generation. Information is sourced from multiple data
vehicles feeds; fundamentals, analyst estimates, ESG and
market data. This universe is ranked by our definition
π Retail of quality, ensuring a wide breadth of stocks are
covered whilst allowing in-depth analysis at company
π Corporates level, giving scale, insight and consistency.
π Corporate Pension Plans Bottom-up analysis is performed using a proprietary
fundamental research template; each report contains
π Public Pension Plans a justification of earnings’ estimates, inherent stock
risks, and cash flow model with base, bull and bear
π Charitable Organizations case valuations. ESG is integrated into the research
process. It offers alternative, non-financial data and
π Investment Managers and Financial can help uncover long-term business risks. Expected
Intermediaries returns are calculated using a discounted cash
flow model, where the cost of equity is adjusted for
π Family Offices ESG and other firm specific risks. We engage with
companies prior to investment and insights gained
π Taft-Hartley Plans from analysis are used to improve the core models.
π Endowments and Foundations In terms of risk management, we have an
independent, dedicated portfolio risk team whose
π Faith-based Investors role is to monitor portfolios in order to ensure client
guidelines are being adhered to. Portfolios are
π Insurance Companies reviewed to verify our funds meet performance and
risk targets and any inconsistencies are dealt with
DGFM offers separate account services. swiftly and effectively.
The minimum account size for a separate account
for a U.S. client is approximately $10 million.
Davy Global Fund Management | Part 2A of Form ADV: Firm Brochure
Portfolios are monitored in terms of tracking error, the future. Investing in securities involves risk of loss
beta, active share, concentration risk and liquidity that clients should be prepared to bear.
risk on a rolling monthly, quarterly and annual basis
at meetings attended by the fund management 9. Disciplinary Information
and portfolio risk teams. In addition, through an Neither DGFM nor any management person of DGFM
independent third-party system, we are able to has been involved in a legal or disciplinary event that
decompose tracking error according to benchmark DGFM deems material to a client’s or prospective
risk, sector risk, regional risk, factor risk and stock client’s evaluation of DGFM’s advisory business or
specific risk. the integrity of its management.
We use Bloomberg’s Asset and Investment Manager 10. Other Financial Industry Activities and
(“AIM”) system for pre and post-trade compliance Affiliations
to ensure portfolios are consistent with investment DGFM is wholly-owned by Green Bay Acquisitions
guidelines. The AIM system allows us to hardcode Limited, which in turn is wholly owned by J&E Davy
rules based on investment guidelines into our trading Holdings, a non-trading Irish holding company.
system. Pre-trade, fund managers are unable to
generate trades which are in breach of hardcoded Presently, the Davy Group consists of many
investment guidelines without explicit sign-off from regulated entities, including: J&E Davy, Davy
authorised persons. Securities, Davy Corporate Finance, DGFM and J & E
Davy (UK), DGFM Luxembourg S.A.
At a single stock level, we additionally use a “suspect
list” to identify poorly or strongly performing Established in 1926, the Davy Group is one of
stocks across a range of momentum and sentiment Ireland’s leading providers of wealth and asset
metrics. Stocks which appear on the “suspect list” management, capital markets and financial advisory
over consecutive months are discussed in greater services. The Davy Group is headquartered in Dublin,
detail at our review meetings and must have their with offices in London, Luxembourg, Belfast, Cork
...