SEPTEMBER 2025
An important role in a diversified portfolio: Latitude Global Fund
The Latitude Global Fund is a global large-cap equity fund. This means it invests in some of the world’s biggest and most established companies, mainly across developed markets. Although it was launched as a standalone fund in September 2020, the strategy has a longer history as part of Latitude’s broader Horizon Fund. Today it plays an important role as a focused yet balanced part of a well-diversified portfolio.
What makes this fund different is its selective approach. It usually holds between 25 and 35 companies, carefully chosen from a much larger universe of global businesses. This concentration means that every holding is intended to count, while still spreading risk across different industries and regions. Rather than being tied to one ‘style’ of investing, the fund is flexible. It seeks out quality businesses with the potential for sustainable growth, but only when their share prices represent good value. In other words, it blends both growth and value thinking in a disciplined way.
The investment process is described as bottom-up. This means the manager starts with individual companies, carrying out deep research into their financial health, long-term prospects and management quality. Broader economic trends are considered, but they are always secondary to the detailed analysis of each company. This long-term approach means there is typically very little trading in and out of positions; the team is focused on holding businesses over many years, not just following short-term market trends.
Since its launch, the fund has delivered strong results. In its first three years, it produced a return of around 40% after fees, significantly ahead of well-known peers in the same space. It has also outperformed global equity benchmarks such as the FTSE All-World Index. Importantly, this success has been achieved without relying heavily on the handful of mega-cap US technology stocks often referred to as the ‘Magnificent Seven.’ While this has sometimes meant the fund lagged during periods when those companies dominated market returns, the manager has deliberately avoided chasing momentum. Instead, the focus remains on finding underappreciated businesses with room to grow.
At the heart of the fund is its manager, Freddie Lait, who founded Latitude in 2016. His experience and disciplined process are central to the strategy. Lait believes that by combining patience with rigorous analysis, the fund can continue to deliver market-beating results over the long term. The evidence so far supports that view.
The Latitude Global Fund plays a valuable role in a diversified portfolio for our clients. It offers exposure to high-quality global companies through a strategy that is both selective and thoughtful. By avoiding overreliance on the biggest names in the market and focusing instead on careful stock picking, the fund provides balance alongside other investments. This makes it a strong long-term building block in achieving steady, sustainable growth.
This commentary was prepared by the CAM Research Team.