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 higher risk profile
- Seeking long-term capital growth
- And able to withstand investment volatility in the short to medium term.
Luxembourg, South Africa, Switzerland, United Kingdom, Japan.
|Year||Fund Return %||Benchmark Return %|
|2013 (from 02/Apr)||14.1||15.8|
|2020 (to 30/Apr)||-8.4||-12.9|
MSCI All Country World Total Return Index.
Longer than three 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 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||6.3|
|Tencent Holdings Ltd||Equity||HK||5.4|
|Wheaton Precious Metals Corp||Equity||US||4.4|
|IPG Photonics Corporation||Equity||US||4.1|
Monthly Commentary – May 2020
- Global equities (+4.3%) rose as lockdowns eased and unprecedented monetary and fiscal stimulus outweighed a continued deterioration in the real economy – US markets (+5.1%) led despite rapidly growing unemployment with the Fed chairman warning that more fiscal stimulus would be needed
- European bourses (+4.6%) gained as regional coronavirus infection curves flattened after stringent lockdowns – but economic trends worsened as UK retail sales plunged 18.1% month-on-month in the largest recorded drop since data collection began in 1988
- Emerging markets (+0.8%) underperformed after geopolitical tensions escalated between the US and China (-0.5%) over Beijing’s new Hong Kong security legislation – but oil and commodity exporters rose, led by Brazil (+8.5%) and Russia (+8.6%)
- Commodities including iron ore (+10.4%) and copper (+1.9%) gained on hopes of a revival in economic demand – oil (+39.8%) surged after Saudi Arabia unilaterally pledged to cut another 1 million barrels per day of production, with Kuwait and the UAE also pledged cuts
- All sectors gained led by IT (+6.8%), industrials (+6.0%) and materials (+5.9%) – consumer staples (+2.0%), energy (+1.9%) and financials (+1.4%) lagged
- The fund added alpha in the rising market despite its conservative positioning – core holdings JD.com (+26.1%), IPG Photonics (+20.2%), Wheaton Precious Metals (+13.9%) and Activision Blizzard (+12.9%) contributed meaningfully on strong earnings reports
Management Fee (Percentage of the applicable Net Asset Value per share)
Class A: 1.35%
Class R: 1.35%
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