The fund aims to achieve meaningful inflation-beating US$ returns over rolling five-year periods from a conservatively managed portfolio of global investments reflecting Foord's prevailing best investment view.
- With a moderate risk profile
- Seeking preservation of capital and safe investment growth.
Japan, Luxembourg, Singapore, South Africa, Switzerland, United Kingdom.
|Year||Fund Return %||MSCI World Return %||US Inflation %|
|1997 (from 10/Mar)||9.1||13.1||1.3|
|2021 (to 30/Jun)||5.8||13.0||3.5|
The use of MSCI benchmark is for performance comparison only
To achieve meaningful inflation-beating US dollar returns over a full investment cycle.
Longer than five years.
2 April 2013
|Initial investment amount||
US$10,000 or equivalent
|Subsequent subscription amount||
US$1,000 or equivalent
Complies with UCITS regulation. In addition, the Fund cannot entered into total return swaps, securities lending transactions, repurchase transactions or reverse repurchase transactions or any other securities financing transactions. Only listed derivatives can be used for efficient portfolio management.
A roll-up fund with income being reinvested in the portfolio.
Zero income yield as it does not distribute its income.
Flexible asset allocation across different asset classes - global equities, listed commodity securities, interest-bearing securities, cash and money market instruments - to achieve its objective.
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||Market||Portfolio weight %|
Monthly Commentary – June 2021
- Global equities (+1.4%) took fright when the US Federal Reserve brought forward to 2023 the date by when it expected US interest rates would first rise—but later settled as the Fed downplayed inflation, supported by positive economic data and vaccination rollout
- Developed market equities (+1.4%) rose with US bourses (+2.8%) outperforming on the $1 trillion infrastructure stimulus announcement and the gradual return to normalcy—emerging markets (+1.3%) also rose, led by oil-driven Brazil (+5.5%) and Russia (+4.1%)
- Developed market bond yields declined despite US and Eurozone inflation rising faster than expectations—the Fed attributes the rise in inflation to transitory factors
- The US dollar appreciated against the euro (-3%), British pound (-2.8%) and Japanese yen (-1.4%)—as investors bet that the US Fed would not tolerate runaway inflation after it brought forward its anticipated rate-hike timeline from 2024
- Commodities retraced as the dollar strengthened—precious metals gold (-6.9%) and silver (-6.7%) and industrial bellwether copper (-7.6%) fell sharply
- Swiss healthcare company, Roche (+8.4%) and the Hong Kong real estate developer, Wharf Holdings (+10.4%) contributed most to the fund’s performance—commodity geared stocks Freeport-McMoran (-13.1%) and FMC (-6.9%) were the key detractors
Management Fee (Percentage of the applicable Net Asset Value per share)
Class B: 1.00% (Institutional investors)
Class R: 1.00% (Retail investors)
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