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products designed to return income, the distributions can also go down or up and you may not
receive back the full value of your initial investment. Past performance is not a reliable indicator of
future results, and no representation or guarantee is made that the fund will achieve its investment
objectives.
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take into account your individual circumstances or objectives. You should seek independent financial
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criteria for Professional Investors.
A professional investor includes someone with the experience and expertise to make informed
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criteria for Institutional Investors.
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companies, investment firms, banks, endowments, and collective investment schemes. Under UK
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complex investment strategies. As such, they are considered capable of operating with limited
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The content is not intended for access or use by any person or entity in a country or jurisdiction
where such access or use would be unlawful, or where it would impose a legal obligation on the Firm
to undertake any filing, registration, or reporting.
All investments risk the loss of capital. The value of investments may go down as well as up and, for products
designed to return income, the distributions can also go down or up and you may not receive back the full
value of your initial investment. No guarantee or representation is made that the funds will achieve their
investment objective. The material on this site does not constitute legal, tax, or advice on investments. If you
are unsure about whether a fund meets your requirements, then you should seek professional financial advice
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Amazon
Leading e-commerce retailer and cloud infrastructure provider
Amazon.com operates the world's largest online retailer and the largest cloud hyperscaler.
In retail it has disrupted the world to bring rapid delivery of millions of different products. It has transformed distribution and fulfilments, embracing technology in the pursuit of ever lower costs. It has rapidly created complementary advertising, subscription and seller-services offerings, all of which have reinforced its ecosystem and made Amazon the go-to online retail platform for the majority of consumers in the markets in which it operates.
AWS was the first company to sell public-cloud infrastructure and services, disrupting the legacy tech industry. With its first mover advantage, it is today the largest cloud hyperscaler in the world, offering an unrivalled range of products with an attractive value proposition for its customers.
Sustainable Organic Growth
>250m Amazon Prime subscribers = resilient revenues and sticky customers
AWS growth supported by growth in IT spend allocation to the cloud
Quality Management
A culture of disruption
Full management alignment with shareholders
Efficiency
Margin expansion in e-commerce from increasing scale and faster delivery
Embraces technology to drive efficiency (e.g. AWS and robotics)
Free Cash Flow Generation
Free cash flow growing rapidly with increasing profitability, providing full funding of ambitions investments
Source: Company Data; Stonehage Fleming Investment Management Limited.
