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 |
| 2021 (to 31/Jul) | 6.0 | 13.1 |
| 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 % |
|---|---|---|---|
| Alphabet Inc | Equity | US | 7.1 |
| Tencent Holdings Ltd | Equity | HK | 4.7 |
| JD.Com Inc - ADR | Equity | US | 4.0 |
| Freeport-McMoran Inc | Equity | US | 3.8 |
| Alibaba Group Holding Ltd | Equity | HK | 3.3 |
Monthly Commentary – July 2021
- Global equities (+0.7%) rose for the 6th consecutive month despite spread of the COVID-19 Delta variant—market performance was supported by low interest rates and corporate earnings pointing to robust economic rebound
- US indices (+2.3%) outperformed as reopening momentum continued—personal saving rates staying above pre-COVID norms should sustain economic growth
- European indices (+1.8%) performed in-line with global equities—Eurozone manufacturing activity improved as industrial activity levels continued to recover
- Emerging markets (-6.7%) declined, led by China (-13.8%) and Hong Kong (-2.9%)—Chinese regulatory interventions aiming to ban for-profit private education firms and regulate ride-hailing company Didi triggered market worry that regulatory crackdowns could hurt other successful industries
- Defensive sectors outperformed, with healthcare (+3.0%), info tech (+2.8%) and utilities (+2.6%) gaining—offsetting declines in the energy (-5.9%) and consumer discretionary (-2.3%) sectors
- Gold (+2.4%) and copper (+4.3%) rebounded slightly from broader decline through June—while Brent (+1.6%) remained above $70 a barrel
- Top fund holding Alphabet (+7.9%) was the top contributor in the month—with fund performance helped by gains from precious metals streamer Wheaton Precious Metals (+4.7%) and copper miner Freeport-McMoRan (+2.8%)
- Fund performance was hurt by declines in Chinese tech names Tencent (-18.0%), Alibaba (-14.2%) and JD.com (-11.2%) on negative sentiment following regulatory intervention—company valuations appear increasingly attractive given long-term structural growth opportunities, with regulation driving greater focus on delivering solutions that benefit all stakeholders
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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