Foord Global Equity Fund (Luxembourg)
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 moderate to high risk profile
- Seeking long-term capital growth
- And able to withstand investment volatility in the short to medium term.
Belgium, France, Japan, Luxembourg, South Africa, Switzerland, United Kingdom.
|Year||Fund Return %||Benchmark Return %|
|2013 (from 02/Apr)||14.1||15.8|
MSCI All Country World Total Return Index.
Longer than five years.
2 April 2013
|Initial subscription amount||
US$10,000 or equivalent
|Subsequent subscription amount||
US$ 1,000 or equivalent
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.
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 value. Global equity exposure typically between 90% and 100%, with balance invested in cash and money market instruments.
The fund is actively managed and not constrained by the benchmark in its portfolio positioning.
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 %|
|Tencent Holdings Ltd||Equity||HK||4.7|
|JD.Com Inc - ADR||Equity||US||4.1|
Monthly Commentary – December 2021
- Global equities (+4.0%) were buoyed by signs that the more infectious Omicron COVID-19 variant appears to be substantially less virulent than the previous Delta variant—optimistic investors rotated back into more cyclical European markets (+6.6%) while tech-heavy US bourses (+3.9%) underperformed
- Emerging markets (+1.9%) underperformed as continued regulatory pressure and property developer worries weighed on Chinese bourses (-3.2%)—energy centric Russian markets (-2.3%) failed to recover despite a rebound in oil prices (+10.2%)
- All sectors bar consumer discretionary finished the month higher led by utilities (+8.1%), consumer staples (+8.0%), real estate (7.0%) and health care (+6.8%)—consumer discretionary underperformed but was only marginally negative (-0.2%)
- Most industrial commodities including copper (+4.1%), iron ore (+18.5%) and oil (+10.2%) rebounded as investors re-engaged with economically-sensitive cyclical commodities—in anticipation of a limited Omicron related impact to economic activity
- Precious metals silver (+1.0%) and gold (+3.0%) rose despite the looming contractionary monetary policy shift—real interest rates remain negative, decreasing the opportunity cost and increasing the attraction of holding precious metals as an alternative store of value
- Fund underperformance of the index was driven by allocations to the consumer discretionary and communication services sectors—the holdings in Chinese tech names more than offset the positive contributions from companies in the materials sector
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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