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Foord International Trust

For conservative, absolute-return investors

(SOFT CLOSED: FOR EXISTING INVESTORS ONLY)

INVESTMENT OBJECTIVE

The fund aims to achieve long-term inflation-beating US$ returns over rolling five-year periods from a conservatively managed portfolio of global investments reflecting Foord's prevailing best investment view.

FOR INVESTORS

  • With a moderate risk profile
  • Seeking preservation of capital and safe investment growth. 

REGISTERED COUNTRIES

Guernsey, Singapore, South Africa.

Performance Overview

Returns
Year Fund Return % MSCI World Return % US Inflation %
1997 (from 10/Mar) 9.1 13.1 1.3
1998 13.9 24.3 1.6
1999 -11.7 24.9 2.7
2000 23.7 -13.2 3.4
2001 -4.0 -16.8 1.6
2002 3.2 -19.9 2.5
2003 21.1 33.1 2.0
2004 13.0 14.7 3.3
2005 5.8 9.5 3.3
2006 18.4 20.1 2.5
2007 12.7 9.0 4.1
2008 -18.4 -40.7 0.0
2009 18.8 30.0 2.8
2010 10.2 11.8 1.4
2011 -1.1 -5.5 3.0
2012 11.2 15.8 1.8
2013 14.3 26.7 1.5
2014 -2.1 4.9 0.7
2015 1.8 -0.9 0.7
2016 1.1 7.5 2.2
2017 15.5 22.4 2.0
2018 -9.6 -8.7 1.9
2019 17.0 27.7 2.3
2020 7.1 15.9 1.3
2021 (to 30/Jun) 6.0 13.0 3.5

The use of MSCI benchmark is for performance comparison only

Characteristics
Objective

To achieve meaningful inflation-beating US dollar returns over a full investment cycle.

Time horizon

Longer than five years.

Inception date

10 March 1997

Initial investment amount

US$10,000 or equivalent

Subsequent subscription amount

US$1,000 or equivalant

Significant restrictions

The portfolio may only invest in cash and Foord International Fund.

Income distributions

A roll-up fund with income being reinvested in the portfolio.

Income characteristics

Zero income yield as it does not distribute income.

Portfolio orientation

Fully invested in the Foord International Fund, a sub-fund of Foord SICAV, domiciled in Luxembourg.

Risk considerations

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 five years. Subject to market volatility, lower in longer term.

Top 5
Security description Asset class Country of Listing Portfolio weight %
FMC Corp Equity US 7.9
Nestle Equity CH 5.9
SSE PLC Equity GB 5.6
CVS Health Corp Equity US 5.0
Alphabet Inc Equity US 4.4
Commentary

Monthly Commentary – May 2021

  • Global equities (+1.5%) sustained their rally on robust corporate earnings and vaccination rollouts—volatility rose as higher inflation prints increased the probability that the US Federal Reserve would taper bond purchases earlier than expected
  • Developed market equities (+1.6%) led the gains on the gradual return to normalcy, with emerging markets (+1.1%) driven by Brazil (+9.4%) and India (+7.8%) and aided by US dollar weakness—China (-0.7%) underperformed on antitrust scrutiny of technology companies
  • Developed market bond yields were broadly flat—as the Fed maintains its ‘wait-and-see’ approach on inflation and interest rates
  • US dollar weakened against euro (+1.6%) and British pound (+2.7%)—on the back of dovish Fed and improving global economic data
  • 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
  • Precious metals streamer Wheaton Precious Metals (+16.6%), miner Freeport McMoran (+13.3%), US pharmacy chain CVS (+13.1%) and UK energy company SSE (+7.9%) contributed most to the fund’s return—top fund holding FMC Corp (-1.3%) retraced
  • The fund’s investment in Nagacorp secured bonds matured—the 3-year investment yielded 9.325% per annum in US dollars, comfortably meeting the fund’s investment objective of US inflation + 5% per year
  • The managers continue to favour equities over other asset classes—but remain cautious and partially hedged given lofty US equity valuations
Fees

No initial fees and redemption fees are levied. A fixed annual fee of 1.00% is levied in the Foord International Fund.

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Currency
Using rand returns of Foord’s best investment view South African funds. ? In calculating the current value of your hypothetical investment, we have applied the returns of Foord Asset Management’s retirement fund track record from 1 January 1990 to 31 March 2008 (gross of fees) combined with the net returns of the Foord Flexible Fund of Funds from 1 April 2008. Any information provided is not intended nor does it constitute financial, tax, legal, investment, or other type of advice, and the suitability or potential value of any information or particular investment source is not guaranteed. Performance may be affected by changes in the market or economic conditions and legal, regulatory and tax requirements. Distributions may be subject to mandatory withholding taxes. Foord does not provide any guarantee either with respect to the capital or the performance return of investments.
Using US dollar returns of Foord’s best investment view global fund. ? In calculating the current value of your investment, we have applied the long-term returns of the Foord International Trust. These returns are calculated net of fees. Past performance is no guarantee of future performance. Foord Asset Management (Singapore) Pte. Limited disclaims any liability for any loss, liability, or damages (whether direct or consequential) of any nature whatsoever that may be suffered as a result of, or which may be attributable, directly or indirectly to the use of or reliance upon the information provided.
Value Today: $0
Annualised Return: 0%
The annualised return is the effective annual percentage return achieved over the term of the investment. Results for an investment term of less than one year should be treated with caution.

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