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.
| 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 31/Mar) | 1.9 | 4.9 | 0.5 |
The use of MSCI benchmark is for performance comparison only
| 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. |
| Security description | Asset class | Country of Listing | Portfolio weight % |
|---|---|---|---|
| FMC Corp | Equity | US | 8.4 |
| SSE PLC | Equity | GB | 5.6 |
| Nestle | Equity | CH | 5.5 |
| CVS Health Corp | Equity | US | 4.7 |
| Alphabet Inc | Equity | US | 4.4 |
Monthly Commentary – March 2021
- Global equities (+2.7%) rose on expectations for accelerating global growth following vaccine rollouts—underpinned by further stimulus measures and ongoing accommodative monetary policy
- Developed market equities (+3.3%) rallied on stimulus announcements and higher bond yields—the stronger US dollar and emergence of more virulent COVID-19 strains weighed on emerging markets (-1.5%)
- Developed market bond yields rose again on higher inflation expectations—even as the US Federal Reserve downplayed inflation risks and reiterated its commitment to accommodative policy until unemployment and inflation exceeded its targets
- The dollar strengthened against the euro (-3.2%), Japanese yen (-3.6%) and British pound (-1.3%)—US economic data continued to surprise to the upside
- Industrial commodities oil (-3.9%) and copper (-2.2%) retraced on dollar strength—precious metals gold (-0.8%) and silver (-10.1%) declined on the opportunity cost of higher bond yields and the benign inflation outlook from central banks
- US agriculture company FMC (+9.2%), retail pharmacy chain CVS (+10.4%), Scottish energy multi-national SSE (+9.9%) and Chinese insurer PICC P&C (+14.8%) contributed the most to fund performance —Wharf Real Estate (-4.6%) and US miner Freeport McMoran (-2.9%) detracted
- The managers continue to favour equities over other asset classes—but remain cautious and partially hedged given lofty US equity valuations
No initial fees and redemption fees are levied. A fixed annual fee of 1.00% is levied in the Foord International Fund.
WHAT IF YOU HAD INVESTED WITH US IN THE PAST?
Experience the compounding phenomenon of a sustained, long-term investment with Foord.
Insights
14 Apr 2021
Markets in a nutshell — March 2021
Global equities rose in March on expectations for accelerating global growth following vaccine rollouts, further stimulus measures and ongoing accommodative monetary policy. Developed market equities outperformed…
12 Apr 2021
Finding Inflation-beating Returns
Portfolio manager Brian Arcese, reflects on the anniversary of the pandemic-driven sell-off and how investors can find inflation-beating opportunities in the markets.