Foord Global Equity Fund (Singapore)
For long-term investors in global equity securities
The fund aims to achieve optimum risk-adjusted returns by investing in a diversified portfolio of global equities and related securities. It seeks to outperform the MSCI All Country World Net Total Return Index after fees, without assuming greater risk.
- With a higher risk profile
- Seeking long-term capital growth
- And able to withstand investment volatility in the short to medium term.
Singapore, South Africa.
|Year||Fund Return %||Benchmark Return %|
|2012 (from 01/Jun)||12.4||15.3|
|2020 (to 31/Jul)||6.2||-1.3|
MSCI All Country World Total Return Index.
Longer than three years.
1 June 2012
|Initial subscription amount||
US$10,000 or equivalent
|Subsequent subscription amount||
US$ 1,000 or equivalent
Complies with the Code on collective investment scheme issued by the Monetary Authority of Singapore.
A roll-up fund with income being reinvested in the portfolio.
Zero income yield as it does not distribute its income.
Investing in quality global equities that presents compelling long-term investment value.Global equity exposure typically between 90% and 100%, with balance invested in cash and money market instruments.
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||
High in periods shorter than three years. Subject to market volatility, lower in longer term.
|Security description||Asset class||Country of Listing||Portfolio weight %|
|JD.Com Inc - ADR||Equity||US||6.1|
|Tencent Holdings Ltd||Equity||HK||5.1|
|IPG Photonics Corporation||Equity||US||4.9|
|Wheaton Precious Metals Corp||Equity||US||4.4|
Monthly Commentary – July 2020
- Global equities (+5.3%) advanced as earnings season produced better-than-feared results—hopes for a COVID-19 vaccine grew as pharmaceutical companies reported promising early trial results
- US markets (+5.9%) gained as Republicans presented a new $1 trillion fiscal stimulus package and the Federal Reserve extended its lending support programme to non-profit organisations—as daily virus numbers reached new highs and deaths resumed an uptrend in a second wave of infections
- European bourses (+3.8%) gained even as the economy deteriorated—German (+5.0%) second-quarter GDP fell most since records began in 1970
- Emerging markets (+8.9%) outperformed on dollar weakness, led by Brazil (+14.2%), India (+10.4%) and China (+9.4%)—the Chinese recovery gained momentum as geopolitical tensions worsened amid the closure of the Chinese consulate in Houston on claims of economic espionage
- The US dollar index (-4.4%) had its worst month since 2010, prompting technical break-outs in gold (+9.5%) and silver (+34.9%)—most commodities including copper (+6.8%) and oil (+5.2%) gained, supported by US and European stimulus announcements
- All sectors other than energy (-2.0%) rose—consumer discretionary (+8.2%), materials (+8.0%) and IT (+7.1%) gained the most
- Fund outperformance was sustained despite the very narrow market—the top five US tech companies have gained more than 35% this year and now account for 20% of the S&P 500, while the index’s remaining constituents have fallen approximately 5% in an increasingly bifurcated and risky market
The annual fee comprises a fixed standard fee plus a performance fee, subject to an overall minimum.
The annual fee may be adjusted up daily (subject to fulfilling the performance conditions) by the performance fee, calculated as the difference between the portfolio performance and the benchmark return for the same period multiplied by the performance fee sharing rate.
Initial fees: NONE
Annual fee: 0.85% + 15% of outperformance over the benchmark
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