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/May)||10.2||10.8|
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 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 – May 2021
- Global equities (+1.5%) rose again on optimism for economic growth from societal re-openings—given continued vaccine progress in the US and faster vaccination rates in Europe
- US indices (+0.4%) edged higher as positive corporate commentary on the growth rebound was offset by inflation worries—the US Federal Reserve sees recent inflation spikes as transitory, but noted the likelihood of starting tapering discussions at the June Fed meetings
- European indices (+4.3%) led developed market gains—as more economies relax COVID-19 restrictions, boosting travel, leisure and retail stocks
- Emerging markets (+1.1%) were mixed—India (+7.8%) rebounded on declining coronavirus cases and expectations of further relief measures while China (-0.7%) underperformed on antitrust scrutiny of technology companies and slowing manufacturing growth
- Cyclical sectors outperformed—energy (+5.6%), financials (+5.1%) and materials (+3.8%) offsetting declines in the consumer discretionary (-1.4%) and information technology (-1.1%) sectors
- Commodities continued to rally on back of a weaker dollar—precious metals gold (+7.7%) and silver (+6.8%) advanced on higher inflation expectations while copper (+4.5%) closed at all-time highs
- Fund performance improved on strong share price gains by names in the materials sector, including Wheaton Precious Metals (+16.6%), Freeport McMoran (+13.3%) and Nutrien (+12.6%)—Chinese tech names JD.Com (-4.3%) and Baidu (-6.7%) weighed on performance
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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