The fund aims to achieve meaningful inflation-beating US$ returns over rolling five-year periods from a conservatively managed portfolio of global investments reflecting Foord's prevailing best investment view.
- With a moderate risk profile
- Seeking preservation of capital and safe investment growth.
Luxembourg, Singapore, South Africa, Switzerland, United Kingdom.
|Year||Fund Return %||MSCI World Return %||US Inflation %|
|1997 (from 10/Mar)||9.1||13.1||1.3|
|2020 (to 30/Sep)||-1.9||1.7||0.7|
To achieve meaningful inflation-beating US dollar returns over a full investment cycle.
Longer than three years.
2 April 2013
|Initial investment amount||
US$10,000 or equivalent
|Subsequent subscription amount||
US$1,000 or equivalent
Complies with UCITS regulation. In addition, the Fund cannot entered 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.
Flexible asset allocation across different asset classes - global equities, listed commodity securities, interest-bearing securities, cash and money market instruments - to achieve its objective.
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 in periods shorter than three years. Subject to market volatility, lower in longer term.
|Security description||Asset class||Country of Listing||Portfolio weight %|
|Roche Holding AG||Equity||CH||4.6|
|Wheaton Precious Metals Corp||Equity||US||4.6|
Monthly Commentary – September 2020
- Developed market equities (-3.4%) retraced from a five-month rally that had been ignited by a robust recovery in many high frequency economic indicators—on worries that high unemployment levels and expiring stimulus measures could weigh on growth
- Global developed market sovereign bond yields fell modestly—at its mid-month meeting the US Federal Reserve signalled continued dovishness with no rate hikes expected until 2023
- The US dollar strengthened against the euro (-1.9%) and British pound (-3.4%)—the risk off sentiment bolstered the US dollar and Japanese yen (+0.5%), both viewed as safe-haven currencies
- After months of sizeable gains, precious metals including silver (-13.3%) and gold (-4.1%) retreated—while concerns about the sustainability of any rebound in demand and dearth of travel weighed on the oil price (-9.6%)
- The fund’s holding in leading gold and silver streamer Wheaton Precious Metals (-8.1%) and ETFS physical gold (-3.6%) detracted from performance on precious metals weakness—the S&P 500 hedges contributed the most to performance as that index fell
- The managers favour equities but continue to employ the fund’s S&P 500 hedges to mitigate risk and dampen probable volatility—the imminent US elections, increasing geopolitical tensions and early indications of rising COVID-19 infection rates in the US and Europe could each materially weigh on markets
Management Fee (Percentage of the applicable Net Asset Value per share)
Class A: 1.35%
Class R: 1.35%
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