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 30/Jun) | 9.6 | 12.3 |
| 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 | 5.9 |
| JD.Com Inc - ADR | Equity | US | 4.6 |
| Tencent Holdings Ltd | Equity | HK | 4.0 |
| IPG Photonics Corporation | Equity | US | 3.4 |
| Baidu Inc | Equity | US | 3.4 |
Monthly Commentary – June 2021
- Global equities (+1.4%) took fright when the US Federal Reserve brought forward to 2023 the date by when it expected US interest rates would first rise—but later settled as the Fed downplayed inflation, supported by positive economic data and vaccination rollout
- US bourses (+2.8%) outperformed as inflation fears abated—Fed Chairman Powell noted that price increases have been sharpest in sectors linked to the reopening of the economy and should be transitory rather than structural
- European indices (-1.5%) underperformed amid the rapid spread of the COVID-19 delta variant—Eurozone inflation leapt to 2% in May, surpassing the ECB’s target for the first time in two years
- Emerging markets (+1.3%) rose, led by oil exporters Brazil (+5.5%) and Russia (+4.1%)—China’s (+1.6%) producer-price index rose 9% year-on-year, its fastest pace since 2008, driven by the higher cost of commodity imports
- Oil (+8.4%) rose above $70 a barrel for the first time in two years after OPEC+ signalled strong demand amid managed supply—precious metals gold (-6.9%) and silver (-6.7%) and industrial bellwether copper (-7.6%) fell sharply on easing inflation concerns and dollar strength
- Interest rate sensitive sectors, materials (-3.7%), financials (-3.4%) and utilities (-3.1%) lagged—information technology (+6.2%), energy (+3.3%) and healthcare (+3.0%) outperformed
- Digital media giant Alphabet (+3.9%), China e-commerce company JD.Com (+7.9%) and bioproduction tools and services company Biolife Solutions (+33.6%) were the top performance contributors—partially offset by copper miner Freeport-McMoran (-13.1%) and silver miner Pan American Silver (-15.1%)
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
WHAT IF YOU HAD INVESTED WITH US IN THE PAST?
Experience the compounding phenomenon of a sustained, long-term investment with Foord.
Insights
15 Jul 2021
Inflation is the enemy of long-term investors
Dave Foord touches on why governments need inflation.
15 Jul 2021
Five deflationary forces
Governments have avoid deflation because it is bad for those who are indebted. In this video Dave Foord discusses five global deflationary forces.