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|
|2021 (to 31/Aug)||5.0||15.9|
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 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 %|
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
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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