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Foord International Fund

For conservative, absolute-return investors

Celebrating 25 Years
INVEST NOW

INVESTMENT OBJECTIVE

The fund aims to achieve meaningful inflation-beating US$ returns over rolling five-year periods from a conservatively managed portfolio of global investments reflecting Foord's prevailing best investment view.

FOR INVESTORS

  • With a moderate to high risk profile
  • Seeking preservation of capital and safe investment growth.

REGISTERED COUNTRIES

Belgium, France, Japan, Luxembourg, Singapore, South Africa, Switzerland, United Kingdom.

Performance

Returns
Year Fund Return % MSCI World Return % US Inflation %
1997 (from 10/Mar) 9.1 13.1 1.3
1998 13.9 24.3 1.6
1999 -11.7 24.9 2.7
2000 23.7 -13.2 3.4
2001 -4.0 -16.8 1.6
2002 3.2 -19.9 2.5
2003 21.1 33.1 2.0
2004 13.0 14.7 3.3
2005 5.8 9.5 3.3
2006 18.4 20.1 2.5
2007 12.7 9.0 4.1
2008 -18.4 -40.7 0.0
2009 18.8 30.0 2.8
2010 10.2 11.8 1.4
2011 -1.1 -5.5 3.0
2012 11.2 15.8 1.8
2013 15.1 26.7 1.5
2014 -1.9 4.9 0.7
2015 1.9 -0.9 0.7
2016 1.2 7.5 2.2
2017 15.5 22.4 2.0
2018 -9.6 -8.7 1.9
2019 17.0 27.7 2.3
2020 6.8 15.9 1.3
2021 2.8 21.8 7.0
2022 (to 31/May) 3.0 -13.0 3.0

The use of MSCI benchmark is for performance comparison only

Characteristics
Objective

To achieve meaningful inflation-beating US dollar returns over a full investment cycle.

Time horizon

Longer than five years.

Inception date

2 April 2013

Initial investment amount

US$10,000 or equivalent

Subsequent subscription amount

US$1,000 or equivalent

Significant restrictions

Complies with UCITS regulation. In addition, the Fund cannot enter into total return swaps, securities lending transactions, repurchase transactions or reverse repurchase transactions or any other securities financing transactions. Only listed derivatives can be used for efficient portfolio management.

Income distributions

A roll-up fund with income being reinvested in the portfolio.

Income characteristics

Zero income yield as it does not distribute its income.

Portfolio orientation

Flexible asset allocation across different asset classes - global equities, listed commodity securities, interest-bearing securities, cash and money market instruments - to achieve its objective.

The fund is actively managed without any reference to a benchmark.

The Manager actively decides the composition of its portfolio including regional allocation, sector views and overall level of exposure to the market in order to take advantage of investment opportunities.

 

Risk considerations

The fund is priced in US dollars. Among others, investment value is subject to foreign exchange risk, market risk and interest rate risk, and credit risk of the issuers.

Risk of loss

Moderate to high in periods shorter than five years. Subject to market volatility, lower in longer term.

Top 5
Security description Asset class Country of Listing Portfolio weight %
FMC Corp Equity US 7.0
SSE PLC Equity GB 5.3
Nestle Equity CH 4.9
CVS Health Corp Equity US 4.9
Freeport-McMoran Inc Equity US 4.7
Commentary

Monthly Commentary – May 2022

  • Global developed market equities (+0.1%) were volatile, with broad-based selling culminating midmonth in markets’ worst one-day return in nearly two years — followed by a final week rally, driven (ironically) by hopes for more dovish US Federal Reserve policy on prospects of slowing growth
  • Emerging markets (+0.4%) rose modestly, led by commodity-driven and export-oriented Brazilian equities (+8.2%), which remains one of the best performing markets this year — Indian equities (-5.8%) fell as higher commodity prices weigh on growth expectations
  • Developed market bond yields were little changed — bond yields retraced modestly from their mid-month peak as investors fretted over whether the current forward curve may already be discounting sufficient rate increases to quell persistent inflation
  • Oil (+12.4%) has now posted double-digit price increases in four of the last six months — largely on supply uncertainty due to prospects of further Russian sanctions
  • Precious metals including gold (-3.5%) and silver (-7.1%) declined, giving up much of their 1Q22 gains — the real rates now available for select fixed-interest instruments increase the opportunity cost of holding the metals
  • The US dollar weakened against all major currencies including the euro (+1.5%), British pound (+0.4%) and Japanese yen (+0.7%) — but widening interest rate differentials coupled with the dollar’s safe-haven status have concurrently served to materially strengthen the greenback this year
  • Fund holdings in lithium miner Livent (+48.8%) and German pharmaceutical Bayer (+10.7%) contributed most to fund returns in the volatile market — agricultural insecticide producer FMC Corp (-7.5%) and streamer Wheaton Precious Metals (-7.7%) detracted
Fees

Management Fee (Percentage of the applicable Net Asset Value per share)
Class B: 1.00% (Institutional investors)
Class R: 1.00% (Retail investors)
 

WHAT IF YOU HAD INVESTED WITH US IN THE PAST?


Experience the compounding phenomenon of a sustained, long-term investment with the Foord International Fund.

Calculate
Currency
Using rand returns of Foord’s best investment view South African funds. ? In calculating the current value of your hypothetical investment, we have applied the returns of Foord Asset Management’s retirement fund track record from 1 January 1990 to 31 March 2008 (gross of fees) combined with the net returns of the Foord Flexible Fund of Funds from 1 April 2008. Any information provided is not intended nor does it constitute financial, tax, legal, investment, or other type of advice, and the suitability or potential value of any information or particular investment source is not guaranteed. Performance may be affected by changes in the market or economic conditions and legal, regulatory and tax requirements. Distributions may be subject to mandatory withholding taxes. Foord does not provide any guarantee either with respect to the capital or the performance return of investments.
Using US dollar returns of Foord’s best investment view global fund. ? In calculating the current value of your investment, we have applied the long-term returns of the Foord International Trust. These returns are calculated net of fees. Past performance is no guarantee of future performance. Foord Asset Management (Singapore) Pte. Limited disclaims any liability for any loss, liability, or damages (whether direct or consequential) of any nature whatsoever that may be suffered as a result of, or which may be attributable, directly or indirectly to the use of or reliance upon the information provided.
Value Today: $0
Annualised Return: 0%
The annualised return is the effective annual percentage return achieved over the term of the investment. Results for an investment term of less than one year should be treated with caution.

Insights

07 Jun 2022

MARKETS IN A NUTSHELL - MAY 2022

With developed market equities ending flat and emerging markets slightly up, one could be forgiven for thinking that May was uneventful. It was in fact another volatile month that included the markets’ worst one-day…

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20 May 2022

Celebrating ten years in Singapore

Foord Singapore has turned ten! The company started in 2012 when three South African staff members relocated to the city state of Singapore. Today, Foord Singapore has ten members of staff, including eight…

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