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Foord Global Equity Fund (Luxembourg)

For long-term investors in global equity securities

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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

Luxembourg, South Africa, Switzerland, United Kingdom, Japan.

Performance

Returns
Year Fund Return % Benchmark Return %
2013 (from 02/Apr) 14.1 15.8
2014 -5.9 4.2
2015 -2.1 -2.4
2016 1.6 7.9
2017 25.8 24.0
2018 -15.8 -9.4
2019 25.4 26.6
2020 23.9 16.3
2021 (to 31/Aug) 5.0 15.9

Characteristics
Benchmark

MSCI All Country World Total Return Index.

Time horizon

Longer than five years.

Inception date

2 April 2013

Initial subscription amount

US$10,000 or equivalent

Subsequent subscription amount

US$ 1,000 or equivalent

Significant restrictions

Complies with UCITS regulations. 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

Investing in quality global equities that presents compelling long-term 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.

Top 5
Security description Asset class Country of Listing Portfolio weight %
Commentary

Monthly Commentary – August 2021

  • Global equities (+2.5%) rose for the seventh straight month as corporate earnings delivered ahead of expectations—but the risks are rising, with slowing global economic growth amid growing uncertainties around new COVID-19 variants and global supply chain difficulties giving rise to higher inflation
  • US bourses (+2.9%) outperformed as American jobs rose by 943,000 in July (the most in a year), with inflation stabilising at 5.4% year-on-year—European stocks (+1.5%) underperformed as German industrial output fell for a third successive month due to supply chain bottlenecks and component shortages
  • Emerging markets (+2.6%) were led higher by India (+10.9%) on the back of its accelerating vaccination drive—China (+0.0%) underperformed as economic data disappointed amid the government’s broad-based regulatory push to facilitate high-quality development over the long term
  • Materials (-0.4%) was the only sector to fall as most commodities tumbled on a combination dollar strength and weaker global growth expectations—financials (+4.1%), information technology (+3.7%) and utilities (+3.7%) led sector gains
  • Industrial commodities iron ore (-24.9%), oil (-4.4%), and copper (-2.7%) fell after a massive run up over the last year—precious metals platinum (-3.3%), palladium (-7.0%) and silver (-6.0%) also gave up some recent gains while safe-haven gold (+0.1%) was flat
  • Fund underperformance of the index was driven primarily by the fund’s Chinese technology and materials sector holdings as negative short-term sentiment gripped Chinese equities—in our view, these businesses present exceptional long-term value as they trade at deep discounts to their long-term earnings fundamentals
Fees

Management Fee (Percentage of the applicable Net Asset Value per share)
Class R: 0.85% + 15% of outperformance over the benchmark
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

 

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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

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