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/Jun)||-0.7||-5.8||-0.5|
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 %|
|Wheaton Precious Metals Corp||Equity||US||4.9|
|Roche Holding AG||Equity||CH||4.5|
Monthly Commentary – July 2020
- Developed market equities (+4.8%) gained when second quarter corporate earnings surpassed (albeit lowered) expectations—sizeable fiscal and monetary stimulus measures continue to bolster equity markets
- Emerging markets (+8.9%) outperformed, led by Brazil (+14.2%) and China (+9.4%)—continued oil price stabilisation (+5.2%) and gradual peaking of COVID-19 infections in Brazil served to buoy the country’s bourses
- Global developed market sovereign and highly-rated corporate bond yields are at record lows with more than 60% of global debt trading below 1.0% and 85% below 2.0%—July’s US Fed meeting reinforced expectations that interest rates will remain low for the foreseeable future
- The US dollar continued to decline—weakening against the euro (+5.3%), British pound (+6.2%) and Japanese yen (+2.0%)
- Precious metals gold (+9.5%) and silver (+34.9%) led gains in hard and soft commodities—driven by global central banks pinning interest rates near zero, unprecedented peacetime fiscal deficits and emerging US dollar weakness
- The fund’s gold ETF and investment in precious metals streamer Wheaton Precious Metals (+23.3%) contributed most to performance—while leading Hong Kong retail property developer Wharf REIC (-25.9%) again detracted on renewed political instability and reaccelerating COVID-19 infections
- The path to a full economic recovery is considerably uncertain given increasing geopolitical tensions, expensive equity valuations, US elections and the COVID-19 pandemic—the managers remain cautious and the fund retains S&P 500 hedges to protect against these elevated risks
Management Fee (Percentage of the applicable Net Asset Value per share)
Class A: 1.35%
Class R: 1.35%
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