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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/Aug) -2.6 -17.8 5.5

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 6.6
Nestle Equity CH 5.1
SSE PLC Equity GB 4.9
Activision Blizzard Inc Equity US 4.2
Freeport-McMoran Inc Equity US 3.8
Commentary

Monthly Commentary – August 2022

  • Developed market equities (-4.2%) declined, led by European bourses (-6.2%), following Fed Chairman Powell’s hawkish Jackson Hole comments — near-term hopes of a dovish Fed pivot were dashed by Powell’s commitment to tighten financial conditions despite knowingly causing “pain” to households
  • Emerging markets (+0.4%) outperformed, led by Brazilian (+6.4%) and Indian (+4.1%) bourses — despite the recent oil price decline, oil’s strong 12-month gain (+36.1%) continues to propel the Brazilian economy, while Indian markets rebounded on stronger economic activity
  • Developed market bond yields moved higher as the US yield curve further inverted — yields on short-term US treasuries rose to levels not seen since before the Global Financial Crisis
  • Industrial commodities oil (-9.7%) and copper (-1.1%) declined as recession fears rose on Powell’s resolve — soft commodities were mixed, with wheat (-1.2%) and soybean (-7.6%) prices down while corn (+10.3%) rose
  • Precious metals gold (-2.3%) and silver (-6.8%) fell sharply on rising expectations for higher real interest rates — investors reduced their positions given the increasing opportunity cost to holdings these non-interest bearing assets
  • The US dollar continued to strengthen against the euro (-1.4%), British pound (-4.4%) and Japanese yen (-3.6%) — interest rate differentials between the US and other developed economies continue to widen
  • Portfolio hedges including a short S&P 500 futures position contributed most to fund returns in the falling market — UK electricity utility SSE Plc (-10.7%) and precious metals streamer Wheaton Precious Metals (-10.7%) were the largest detractors
  • With its conservative approach, the fund has continued to protect investor capital this year — the 2022 year-to-date return is -1.2% against a global equity market decline of -17.8%
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

26 Sep 2022

Ashes to opportunities: Beyond the short-term pain of the current regulatory wave in China

Jing Cong Xue, Portfolio Manager at Foord writes about the current regulatory wave in China and what the Chinese leaders were actually communicating through these regulations.

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07 Sep 2022

MARKETS IN A NUTSHELL - AUGUST 2022

Developed market equities retraced after Fed Chairman Powell’s hawkish comments at the Jackson Hole economic symposium held in the last week of August. Any near-term hopes for a dovish Fed pivot were dashed by the…

Read more
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