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/Sep)||7.5||1.4|
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||7.5|
|Tencent Holdings Ltd||Equity||HK||5.0|
|IPG Photonics Corporation||Equity||US||4.4|
|Wheaton Precious Metals Corp||Equity||US||4.2|
Monthly Commentary – September 2020
- Global equities (-3.2%) fell for the first time in six months, weighed down by benchmark-heavy tech stocks—a wave of IPOs, M&A and stock splits typically evident of excessive liquidity characterised the month
- US equities (-3.8%) declined on disappointing macroeconomic data and expiring stimulus measures—America’s unemployment rate is still high at 8.4%, with retail sales growth slowing dramatically in August
- The US dollar strengthened against most majors, weighing on emerging markets and commodities—gold (-4.1%) retraced some of its recent gains and oil (-9.6%) tumbled after Saudi Arabia cut prices for major customers
- Emerging markets (-1.6%) displayed mixed performance—commodity consumers such as India (+0.6%) (also on rumours of more stimulus) faring better than commodity producers such as Brazil (-7.1%) and Russia (-7.4%)
- On the geopolitical front, tensions between the US and China (-2.7%) remain elevated—the Pentagon said it would extend export restrictions to China’s biggest semiconductor manufacturer SMIC
- All sectors fell—energy (-12.1%), financials (-5.3%) and communication services (-5.1%) performed worst
- The fund performed in line with its benchmark—its non-tech Chinese investments mostly added value, while core holdings Alphabet (-10.1%) and Wheaton Precious Metals (-8.1%) weighed on performance
- The managers raised cash and added to portfolio hedges ahead of the volatility—market valuation levels remain stretched given the prevailing macroeconomic environment
Management Fee (Percentage of the applicable Net Asset Value per share)
Class A: 1.35%
Class R: 1.35%
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