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The US stock market trades at a high multiple by comparison with the other major global equity markets. The paradox is that the US remains the largest source of good quality, thematic stock specific opportunities. Giles Money, who joined us recently from Bank J. Safra Sarasin, and I travelled to Orlando in March for a week focused on finding new investment ideas through which to express our themes.

A conference is an effective way of getting to know unfamiliar businesses, at the same time being a forum to engage with owners of companies we already invest in on behalf of our clients. The annual Raymond James conference brings 350 companies across many industries together over three days to meet 750 investors. Giles and I had interactions with over 50 of these companies between us, some of which we had little knowledge of before boarding the plane, and a number of these companies do not travel to Europe to meet with investors. We returned with our digital notebooks full of ideas to research, as well as valuable insights into companies already in our portfolios.

Researching automation

My priority for the week was our automation theme. Traditionally, the market indices and investors have differentiated between technology stocks that appear to offer huge growth potential and industrial companies that are seen as cyclical. This is outdated. Some of the most disruptive changes are happening as industrial companies benefit from the falling costs of processing power and advances in robotics, communications and software. This is creating niche industries such as machine vision, laser processing, or industrial software. Because the market struggles to pigeonhole these companies as ‘technology’ or ‘industrial’ they have potential to be misunderstood and consequently mispriced. This makes them a perfect hunting ground for a thematic investor.

Our portfolios have held shares in the Japanese machine vision company Keyence for many years. On this trip I had my first opportunity to meet Cognex, their main US competitor. Machine vision is a $3.5 billion industry growing at 8-10% per annum with high returns on capital due to the extensive software content and barriers to entry. The technology is primarily used in industrial automation and logistics, and replaces low value added or inefficient jobs. Cameras or scanners are used to record a process, make sense of it and then instruct an action. This is done at factory speeds, to microns of accuracy and in harsh environments.

High-powered fibre lasers are rapidly disrupting the machine tool industry with a faster, more efficient product that produces a cleaner cut in metal and a better quality weld between materials. I have spent many hours learning about this new industry and the market leader, IPG Photonics, in particular. The trip gave me the opportunity to corroborate this knowledge via meetings with a small competitor, nLight, which gave me more confidence that the technology is difficult to copy at scale. The applications for industrial lasers can also extend into new segments such as medical, communications and entertainment.

Software is becoming core to all companies

My favourite quote of the week came from the CFO of Roper Technologies, a company that acquires and operates niche engineering companies with high software content. He explained “We come to this Raymond James conference not the technology conferences; at the tech conferences the investors only want to ask us why we only grow organically at 5% and what a pump is.” Software is becoming core to all companies, even in traditional sectors. A meeting with Trimble explained how it is digitalising mature industries such as agriculture, construction and transportation where technology adoption has lagged for decades.

Applying this knowledge to portfolios

Giles spent much of his week learning more about new technologies in the medical device industry and building on his knowledge of pet care. A particular highlight was IDEXX Labs that is the clear leader in diagnostics equipment and practice software for vets. Not all the companies we met will prove suitable for our clients’ portfolios. Some will fail our process for stewardship reasons or an unappealing valuation. However, returning with such a long list of new ideas, I am confident that the US market will remain the richest source of thematic investments for our funds.

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It is not for distribution outside Ireland and should not be relied upon by private investors. It is not available for access by US Nationals

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What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than Ireland.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

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By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in Ireland by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the UK Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This information on this website is only for Irish residents who are:

  • investment professionals;
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  • regulated professional intermediaries.

It is not for distribution outside Ireland and should not be relied upon by private investors. It is not available for access by US Nationals

Residents of the United States of America and Hong Kong are not permitted to access the website of the Bank J. Safra Sarasin group of companies according to legal restrictions imposed by their respective jurisdictions. This will also apply to all other jurisdictions where similar restrictions exist.

If you do not meet the above criteria, you must leave this site immediately and you accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than Ireland.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

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It is not for distribution outside the UK and should not be relied upon by private investors. It is not available for access by US Nationals

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If you do not meet the above criteria, you must leave this site immediately and you accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

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This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

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The contents of this website have been approved for issue in the UK by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

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What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

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The contents of this website have been approved for issue in the UK by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This website and the information contained within is for UK residents only and not for distribution outside the UK. If you are not a UK resident, you must leave this site immediately and accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

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It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in the UK by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This information on this website is only for UK residents who are:

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It is not for distribution outside the UK and should not be relied upon by private investors. It is not available for access by US Nationals

Residents of the United States of America and Hong Kong are not permitted to access the website of the Bank J. Safra Sarasin group of companies according to legal restrictions imposed by their respective jurisdictions..This will also apply to all other jurisdictions where similar restrictions exist.

If you do not meet the above criteria, you must leave this site immediately and you accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

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By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

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The contents of this website have been approved for issue in South Africa by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the UK Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed

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What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than South Africa.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in South Africa by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the UK Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This information on this website is only for South African residents who are:

  • investment professionals;
  • our product distributor partners; or
  • regulated professional intermediaries.

It is not for distribution outside South Africa and should not be relied upon by private investors. It is not available for access by US Nationals

Residents of the United States of America and Hong Kong are not permitted to access the website of the Bank J. Safra Sarasin group of companies according to legal restrictions imposed by their respective jurisdictions. This will also apply to all other jurisdictions where similar restrictions exist.

If you do not meet the above criteria, you must leave this site immediately and you accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than South Africa.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

What type of investor are you?

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in Ireland by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the UK Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed

Who can use this site

This website and the information contained within is for Irish residents only and not for distribution outside Ireland. If you are not an Irish resident, you must leave this site immediately and accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than Ireland.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in Ireland by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the UK Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed

Who can use this site

This website and the information contained within is for Irish resident charities only and not for distribution outside Ireland. If you are not an Irish resident charity, you must leave this site immediately and accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than Ireland.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in Ireland by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the UK Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This information on this website is only for Irish residents who are:

  • investment professionals;
  • our product distributor partners; or
  • regulated professional intermediaries.

It is not for distribution outside Ireland and should not be relied upon by private investors. It is not available for access by US Nationals

Residents of the United States of America and Hong Kong are not permitted to access the website of the Bank J. Safra Sarasin group of companies according to legal restrictions imposed by their respective jurisdictions. This will also apply to all other jurisdictions where similar restrictions exist.

If you do not meet the above criteria, you must leave this site immediately and you accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than Ireland.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in Ireland by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the UK Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This information on this website is only for Irish residents who are:

  • investment professionals;
  • our product distributor partners; or
  • regulated professional intermediaries.

It is not for distribution outside Ireland and should not be relied upon by private investors. It is not available for access by US Nationals

Residents of the United States of America and Hong Kong are not permitted to access the website of the Bank J. Safra Sarasin group of companies according to legal restrictions imposed by their respective jurisdictions. This will also apply to all other jurisdictions where similar restrictions exist.

If you do not meet the above criteria, you must leave this site immediately and you accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than Ireland.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in the UK by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This website and the information contained within is for UK residents only and not for distribution outside the UK. If you are not a UK resident, you must leave this site immediately and accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in the UK by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This website and the information contained within is for UK resident charity only and not for distribution outside the UK. If you are not a UK resident charity, you must leave this site immediately and accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in the UK by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This information on this website is only for UK residents who are:

  • investment professionals;
  • our product distributor partners; or
  • regulated professional intermediaries.

It is not for distribution outside the UK and should not be relied upon by private investors. It is not available for access by US Nationals

Residents of the United States of America and Hong Kong are not permitted to access the website of the Bank J. Safra Sarasin group of companies according to legal restrictions imposed by their respective jurisdictions..This will also apply to all other jurisdictions where similar restrictions exist.

If you do not meet the above criteria, you must leave this site immediately and you accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in the UK by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This information on this website is only for UK residents who are:

  • investment professionals;
  • our product distributor partners; or
  • regulated professional intermediaries.

It is not for distribution outside the UK and should not be relied upon by private investors. It is not available for access by US Nationals

Residents of the United States of America and Hong Kong are not permitted to access the website of the Bank J. Safra Sarasin group of companies according to legal restrictions imposed by their respective jurisdictions..This will also apply to all other jurisdictions where similar restrictions exist.

If you do not meet the above criteria, you must leave this site immediately and you accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than the UK.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in South Africa by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the UK Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed

Who can use this site

This website and the information contained within is for South African residents only and not for distribution outside South Africa. If you are not a South African resident, you must leave this site immediately and accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than South Africa.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

It is important that you read this information before proceeding, as it explains certain legal and regulatory restrictions applicable to the use of this website.

By clicking the ‘Accept’ button you acknowledge that the information below has been brought to your attention.

The contents of this website have been approved for issue in South Africa by Sarasin & Partners LLP (‘Sarasin’), which is regulated by the UK Financial Conduct Authority. Under no circumstances should this information or any part of it be copied, reproduced or redistributed.

Who can use this site

This information on this website is only for South African residents who are:

  • investment professionals;
  • our product distributor partners; or
  • regulated professional intermediaries.

It is not for distribution outside South Africa and should not be relied upon by private investors. It is not available for access by US Nationals

Residents of the United States of America and Hong Kong are not permitted to access the website of the Bank J. Safra Sarasin group of companies according to legal restrictions imposed by their respective jurisdictions. This will also apply to all other jurisdictions where similar restrictions exist.

If you do not meet the above criteria, you must leave this site immediately and you accept Sarasin will not be liable in any way whatsoever for your use of this website or the information contained within if you choose to proceed.

What you should know about the site’s content

This website should not be regarded as an offer or solicitation to conduct investment business in any jurisdiction other than South Africa.

The information on this website has been obtained from sources that Sarasin believe to be reliable and accurate at the date of publication, but no warranty of accuracy is given. We are not responsible for the accuracy of information contained within sites provided by third parties, which may have links to or from our pages. Any opinions expressed are our judgment at the time of writing and are subject to change without notice. By proceeding you agree to the exclusion by Sarasin of any liability in respect of any errors or omissions by Sarasin and any other relevant third parties.

The information on this website does not in any way constitute investment, tax, legal or any other form of advice or recommendation that a product or investment is suitable for you or your circumstances. If you are unsure as to whether the investments described in this site are suitable for you should seek professional advice from a financial adviser.

Cookies and other policies

Please note that your internet browser needs to accept cookies in order to enter this website. A cookie is a small data file that is used by websites to send information to the user’s internet browser and the internet browser to return the information to the website. If it is not the case already, you may need to make changes to your internet browser settings to accept the cookies required to enter this website.

By continuing to access this website, you agree to the above warnings and important information. Please make sure you have also read our Legal Information, Important Information and Privacy Policies which apply to your use of this website. To access these, please click on the links at the footer of the home page.

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