Foord Global Equity Fund (Singapore)
For long-term investors in global equity securities
The fund aims to achieve optimum risk-adjusted returns by investing in a diversified portfolio of global equities and related securities. It seeks to outperform the MSCI All Country World Net Total Return Index after fees, without assuming greater risk.
- With a higher risk profile
- Seeking long-term capital growth
- And able to withstand investment volatility in the short to medium term.
Singapore, South Africa.
|Year||Fund Return %||Benchmark Return %|
|2012 (from 01/Jun)||12.4||15.3|
|2020 (to 30/Apr)||-8.5||-12.9|
MSCI All Country World Total Return Index.
Longer than three years.
1 June 2012
|Initial subscription amount||
US$10,000 or equivalent
|Subsequent subscription amount||
US$ 1,000 or equivalent
Complies with the Code on collective investment scheme issued by the Monetary Authority of Singapore.
A roll-up fund with income being reinvested in the portfolio.
Zero income yield as it does not distribute its income.
Investing in quality global equities that presents compelling long-term investment value.Global equity exposure typically between 90% and 100%, with balance invested in cash and money market instruments.
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||
High in periods shorter than three years. Subject to market volatility, lower in longer term.
|Security description||Asset class||Market||Portfolio weight %|
|JD.Com Inc - ADR||Equity||US||6.2|
|Tencent Holdings Ltd||Equity||HK||5.4|
|IPG Photonics Corporation||Equity||US||4.5|
|Wheaton Precious Metals Corp||Equity||US||4.3|
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 annual fee comprises a fixed standard fee plus a performance fee, subject to an overall minimum.
The annual fee may be adjusted up daily (subject to fulfilling the performance conditions) by the performance fee, calculated as the difference between the portfolio performance and the benchmark return for the same period multiplied by the performance fee sharing rate.
Initial fees: NONE
Annual fee: 0.85% + 15% of outperformance over the benchmark
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