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Foord Global Equity Feeder Fund

CLOSED TO NEW INVESTMENT

For long-term investors in global equity securities

 

INVEST NOW

INVESTMENT OBJECTIVE

To outperform the MSCI All Country World Net Total Return Index from an actively managed portfolio of global equities, without assuming greater risk.

FOR SOUTH AFRICAN INVESTORS

•    With a higher risk profile
•    Requiring diversification through investments not available in South Africa
•    Seeking to hedge rand depreciation
•    And able to withstand investment volatility in the short to medium term.

Performance

Returns
Year Fund Return % Benchmark Return % SA Inflation %
2014 (from 01/May) 6.7 12.0 1.6
2015 32.0 31.8 5.2
2016 -9.4 -5.1 6.8
2017 14.1 11.7 4.7
2018 -3.5 5.1 4.5
2019 24.3 23.9 4.0
2020 (to 30/Apr) 22.6 12.5 1.6

Characteristics
Benchmark

The ZAR equivalent of MSCI All Country World Total Return Index.

Time horizon

Longer than three years.

Inception date

2 May 2014

Minimum investment

R50 000 lump sum or R1 000 per month

Significant restrictions

The portfolio may only invest in cash and one other collective investment scheme.

Income distributions

The Foord Global Equity Fund, in which the fund invests, does not distribute its income.

Income characteristics

Marginal to zero income yield as the Foord Global Equity Fund is a roll-up fund and does not distribute its income.

Portfolio orientation

Invests in Foord Global Equity Fund, a fund invested primarily in a diversified portfolio of global equities, priced in US dollars and domiciled in Singapore.

Risk of loss

Currency volatility means risk of loss in the short term is high. In general, the risk is high in periods shorter than one year and lower in periods longer than three years

Top 10
Security description Asset class Market Portfolio weight %
JD.Com Inc Equity US 6.1
Tencent Holdings Equity HK 5.3
Alphabet Inc Equity US 5.0
IPG Photonics Corporation Equity US 4.4
Wheaton Precious Metals Equity US 4.2
Activision Blizzard Inc Equity US 3.7
Bayer Equity DE 3.6
Wynn Macau Ltd Equity HK 2.8
Nutrien Equity US 2.8
AIA Group Ltd Equity HK 2.5
Commentary

Monthly Commentary – April 2020

  • Global equity bourses (+10.7%) capped their best month since 1987 – unprecedented stimulus and flatter virus curves in the major economies bolstered hope for rebounding economic activity
  • US markets (+13.1%) surged as the US Federal Reserve took further steps to avert economic collapse by providing $2.3 trillion to support households, businesses and local government – which includes $600 billion of credit support to small and mid-sized businesses
  • Europe (+5.9%) underperformed due to its reliance on industrial activity as France’s economy contracted 5.8% month-on-month in the first quarter – its steepest decline since 1949 when records began
  • Emerging markets (+9.2%) gained with their currencies and commodities despite more than 80 countries seeking IMF aid – Brazil (+5.4%) underperformed on poor COVID-19 management while India (+16.1%) outperformed as low oil prices improved the fiscal deficit
  • Oil’s (+11.1%) volatility continued as May WTI contracts plunged into negative territory for the first time amid a lack of storage to take delivery – Saudi Arabia and Russia ended their oil-price war, agreeing to cut 10% of global supply for the next two months, nowhere near enough to offset the 25-30% collapse in near-term demand
  • Fund outperformance expanded despite a high cash balance – Mesoblast (+157.7%) surged after its remestemcel-L treatment achieved meaningful results in treating a small sample of severe COVID-19 patients and progressed to comprehensive trials
  • The rand (-3.9% vs the US dollar) weakened more as the economic shock of the extended lockdown compounds South Africa’s structural growth challenges – S&P downgraded SA debt further into sub-investment grade on forecasts of accelerating deterioration of public finances
Fees

The standard charge rate is a fixed fee of 0.35% plus VAT. A 0.85% fixed amount fee plus 15% performance sharing fee is charged in the Foord Global Equity Fund.

WHAT IF YOU HAD INVESTED WITH US IN THE PAST?


Experience the compounding phenomenon of a sustained, long-term investment with Foord.

Calculate
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 long-term equity carve-out returns of Foord Asset Management's Global Balanced composite from 1 January 1990. These returns are gross of fees and taxes. 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: R0
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.

Insights

24 Apr 2020

Politics of oil

There has been a seismic change in global oil markets, with potentially devastating long-term risks to the global economy and geopolitics. Portfolio manager and resources analyst MIKE TOWNSHEND looks at the politics…

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09 Apr 2020

THE PIN THAT POPPED THE BUBBLE

Global equity markets delivered the best calendar-year return of the decade in 2019. Many markets were at or near all-time highs. In this podcast, Nick Curtin talks to Foord Singapore portfolio manager Brian Arcese…

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