Foord Global Equity Fund (Singapore)
For long-term investors in global equity securities
INVESTMENT OBJECTIVE
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.
FOR INVESTORS
- With a higher risk profile
- Seeking long-term capital growth
- And able to withstand investment volatility in the short to medium term.
REGISTERED COUNTRIES
Singapore, South Africa.
| Year | Fund Return % | Benchmark Return % |
|---|---|---|
| 2012 (from 01/Jun) | 12.4 | 15.3 |
| 2013 | 18.7 | 22.8 |
| 2014 | -6.4 | 4.2 |
| 2015 | -2.2 | -2.4 |
| 2016 | 1.9 | 7.9 |
| 2017 | 25.8 | 24.0 |
| 2018 | -16.0 | -9.4 |
| 2019 | 26.5 | 26.6 |
| 2020 | 24.9 | 16.3 |
| 2021 (to 31/Mar) | 5.1 | 4.6 |
| Benchmark |
MSCI All Country World Total Return Index. |
| Time horizon |
Longer than five years. |
| Inception date |
1 June 2012 |
| Initial subscription amount |
US$10,000 or equivalent |
| Subsequent subscription amount |
US$ 1,000 or equivalent |
| Signification restrictions |
Complies with the Code on collective investment scheme issued by the Monetary Authority of Singapore. |
| 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 |
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. |
| 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. |
| Security description | Asset class | Country of Listing | Portfolio weight % |
|---|---|---|---|
| Alphabet Inc | Equity | US | 5.4 |
| Extended Stay America Inc | Equity | US | 5.2 |
| JD.Com Inc - ADR | Equity | US | 4.3 |
| Tencent Holdings Ltd | Equity | HK | 4.3 |
| Baidu Inc | Equity | US | 3.7 |
Monthly Commentary – March 2021
- Global equities (+2.7%) rose on expectations for accelerating global growth following vaccine rollouts—underpinned by further stimulus measures and ongoing accommodative monetary policy
- US share markets (+3.7%) rallied as President Biden signed a $1.9 trillion pandemic relief bill and announced his proposal for a $2 trillion infrastructure plan—economic data also continued to surprise on the upside
- European bourses (+3.1%) gained as cyclicals rallied on higher bond yields—even as markets await clarity on the timing of the EU’s $880 billion recovery package
- Emerging markets (-1.5%) underperformed as the dollar strengthened—weighed by rising cases of new COVID-19 strains, regulatory scrutiny on US-listed Chinese ADRs (-6.3%) and Turkish central bank turmoil (-15.8%)
- Defensives and cyclicals led the sector gains—utilities (+7.4%), consumer staples (+6.1%) and industrials (+5.7%) outperformed, while information technology (+0.7%) lagged
- Industrial commodities oil (-3.9%) and copper (-2.2%) retraced on dollar strength—precious metals gold (-0.8%) and silver (-10.1%) declined on the opportunity cost of higher bond yields and the benign inflation outlook from central banks
- America’s largest long-term stay hospitality business Extended Stay (+23.4%) was the biggest positive contributor as Blackstone and Starwood offered to acquire the business for $19.5 per share—investment in Chinese tech names and the S&P hedges were the biggest detractors this month
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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