Foord Global Equity Fund (Singapore)
For long-term investors in global equity securities
INVESTMENT OBJECTIVE
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.
FOR INVESTORS
- With a higher risk profile
- Seeking long-term capital growth
- And able to withstand investment volatility in the short to medium term.
REGISTERED COUNTRIES
Singapore, South Africa.
| Year | Fund Return % | Benchmark Return % |
|---|---|---|
| 2012 (from 01/Jun) | 12.4 | 15.3 |
| 2013 | 18.7 | 22.8 |
| 2014 | -6.4 | 4.2 |
| 2015 | -2.2 | -2.4 |
| 2016 | 1.9 | 7.9 |
| 2017 | 25.8 | 24.0 |
| 2018 | -16.0 | -9.4 |
| 2019 | 26.5 | 26.6 |
| 2020 | 24.9 | 16.3 |
| Benchmark |
MSCI All Country World Total Return Index. |
| Time horizon |
Longer than five years. |
| Inception date |
1 June 2012 |
| Initial subscription amount |
US$10,000 or equivalent |
| Subsequent subscription amount |
US$ 1,000 or equivalent |
| Signification restrictions |
Complies with the Code on collective investment scheme issued by the Monetary Authority of Singapore. |
| Income distributions |
A roll-up fund with income being reinvested in the portfolio. |
| Income characteristics |
Zero income yield as it does not distribute its income. |
| Portfolio orientation |
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. |
| 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 to high in periods shorter than five years. Subject to market volatility, lower in longer term. |
| Security description | Asset class | Market | Portfolio weight % |
|---|---|---|---|
| JD.Com Inc - ADR | Equity | US | 6.0 |
| IPG Photonics Corporation | Equity | US | 5.4 |
| Tencent Holdings Ltd | Equity | HK | 4.9 |
| Alphabet Inc | Equity | US | 4.6 |
| Extended Stay America Inc | Equity | US | 4.3 |
Monthly Commentary – December 2020
- Global equities (+4.6%) continued rising—buoyed by the COVID-19 vaccines rollout commencing in multiple countries and passage in the US of the $900 billion pandemic stimulus bill and government funding plan
- US equity markets (+4.1%) gained despite accelerating COVID-19 infections—market is anticipating a better 2021 given the COVID-19 vaccine roll outs and potentially more stimulus under the Biden administration
- European bourses (+4.7%) rose on the 11th hour Brexit trade deal, which helped avoid trade friction and others issues related to a no-deal Brexit—the start of the EU vaccination drive also heralded a possible return to normal this year
- The emerging market rally (+7.4%) gathered pace as vaccine news supported risk-on sentiment—boosting commodity prices and emerging markets including Brazil (+13.6%), India (+10.2%) and Russia (+10.1%)
- China (+2.8%) underperformed—on concerns about government antitrust investigations on Chinese internet companies
- Sector gains were led by the materials (+7.0%) and information technology (+6.9%) sectors—while real estate (+1.8%), utilities (+2.4%), industrial (+2.7%), consumer staples (+3.2%) and communication services (+3.7%) underperformed
- Fund performance was supported by contributions from Baidu (+55.6%), Moncler (+24.6%) and Freeport-McMoran (+11.2%)—Alphabet (-0.5%), Tencent (+0.2%) and Nutrien (-1.3%) were the detractors
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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