Schroder Global Value Fund
|
|
- Johnathan Boone
- 5 years ago
- Views:
Transcription
1 Schroder Global Value Fund Overview Portfolio objective To generate long-term returns before fees in excess of traditional capitalisation weighted global equity indices by investing in a diversified portfolio of equity and equity related securities of companies worldwide excluding Australia using a Value based investment strategy. Key features Value style - attractively priced companies with strong fundamentals outperform in the long run. Embracing breadth - exploiting opportunities from more than 15,000 stocks globally. Bottom-up, index unconstrained investing - minimal sector, region or size constraints maximises the potential return and minimises dead money allocated to expensive stocks simply to satisfy inefficient index constraints. Focus on risk management and portfolio construction - a highly diversified portfolio minimises stock specific risk whilst retaining a high degree of conviction. Performance to 31 Relative to MSCI All Country World ex Australia calendar year Total returns (AUD) YTD Fund (Gross) MSCI AC World ex Australia Excess (Gross) Fund (Net) Excess (Net) rolling periods Total returns (AUD) 1 month 3 mths FYTD 1 Year Relative to MSCI World ex Australia calendar year 3 Years 5 Years SI * SI Cum* Fund (Gross) MSCI AC World ex Australia Excess (Gross) Fund (Net) Excess (Net) Total returns (AUD) YTD Fund (Gross) MSCI World ex Australia Excess (Gross) Fund (Net) Excess (Net) rolling periods Total returns (AUD) 1 month 3 mths FYTD 1 Year 3 Years 5 Years SI * SI Cum* Fund (Gross) MSCI World ex Australia Excess (Gross) Fund (Net) Excess (Net) Page 1 Past performance is not a reliable indicator of future performance. The difference between the fund and benchmark returns may not equal stated excess returns due to rounding. *Since Inception are from 26 July Calendar year return in the year of inception is from 26 July The MSCI AC World ex Australia Index includes stocks of both developed and emerging markets as defined by MSCI whilst the MSCI World ex Australia Index incorporates all the developed markets only.
2 Monthly commentary Market update The year got off to a dramatic start with sharp declines in share prices globally hitting the headlines. In the third worst January for global equities on record, the MSCI AC World fell by 6.0% in USD terms. There was an indiscriminate flight from risk assets (equities, corporate bonds and commodities) as concerns about the health of the global economy mounted. The announcement that China had experienced its slowest annual growth in 25 years did little to reassure investors already spooked by confusion over Beijing s stance on the yuan. This was accompanied by further alarming declines in the oil price which fell below $30 per barrel to plumb 12-year lows. Sentiment did improve, to some extent, towards the end of the month. While the US Federal Reserve stopped short of ruling out another rate rise in March, the tone of the Open Market Committee minutes fuelled speculation that rates may not rise as quickly as had been forecast. Meanwhile, markets were taken by surprise by the Bank of Japan s announcement that it would join the European Central Bank in adopting negative interest rates. On a regional view, in spite of experiencing its worst opening fortnight on record, the US outperformed other markets (although MSCI USA still ended the month down by 5.3%). While Emerging Markets continued to underperform the global benchmark, declining by 6.5%, they were not the worst casualties of the month and fared somewhat better than Europe ex-uk (-6.8%), Japan (-8.2%), and Pacific ex-japan (-8.8%). Indeed, January saw Japan officially enter bear market territory (defined as a 20% fall in share prices from the cycle peak). The US is now the only region not to have entered a bear market. Sectors were mostly down over the month with the exception of utilities which managed to end January in positive territory. The running order in terms of sector performance was hardly surprising given the level of risk aversion apparent in markets with utilities closely followed by other traditional defensive areas such as staples and telecoms. At the other end of the spectrum, the continued rout in commodity prices yielded yet another dismal month for materials and financials also endured steep falls. Fund commentary QEP Global Value was slightly behind the index as falling markets and high volatility drove a flight to traditional defensive but expensive sectors. Our strategic low allocation to expensive areas of utilities and consumer staples, particularly in the US, proved a headwind to relative performance. Banks and insurance companies saw a sell-off with little discrimination on quality, meaning that our holdings in the UK and the US were also a detractor. However, we look upon volatility in these industries as an opportunity to benefit from any over-reaction in high quality companies. Elsewhere, stock selection was positive in industrials and consumer discretionary with our positions within the US and Continental Europe, benefiting from some reassessment of valuations in these cyclical sectors. Our positions in telecoms in Japan, Asia and Continental Europe were another positive contributor, although the gains were partially offset by our underweight to the more expensive US telecoms. Amongst defensives we retain our preference for telecoms (outside of the US) and healthcare stocks globally (European pharmaceuticals in particular). US utilities and telecoms remain unattractive in our view. There is a broad range of global opportunities within cyclical sectors. Our preference in consumer discretionary is for companies in well-established and shareholder-friendly industries such as retail, media and auto component makers. In technology, our preference is for traditional US companies such as Intel and Microsoft and high quality Japanese and Emerging Market stocks, rather than excitable stocks in areas like social media. In industrials, we maintain our exposure to a range of attractively-priced, high quality opportunities, particularly within the US defence and machinery industries. In the energy and materials sectors we favour high quality companies trading on depressed valuations. Diversified chemical companies, particularly in Japan, remain good value. In the mining industry, our preference remains for larger, lower cost, diversified producers. Within energy, large integrated oil & gas stocks tend to offer attractive dividend yields and strong balance sheets. We continue to avoid the higher-cost producers, such as Canadian oil sands. The strategy s exposure to financials remains driven first by our view of the quality (risk) of a company and then the right valuation for any opportunity. Within insurance we maintain our preference for high Page 2
3 quality companies with a focus on long-term business strength and diversity. We continue to see a broad range of opportunities in the banking sector from high quality but over-sold banks in the US to lower quality but recovering banks in Europe. Page 3
4 Attribution against MSCI AC World ex Australia* Sector Consumer Discretionary Industrials Materials Consumer Staples Health Care Utilities Information Technology Telecommunications Energy Financials Stock Selection (%) Asset Allocation (%) Region Japan Emerging Asia Emerging EMEA Continental Europe Pacific Ex Japan Emerging Latin America United Kingdom North America Stock Selection (%) Asset Allocation (%) The attribution analysis shown above is intended to provide an indicative summary of the contributions to relative performance. The information is generated using Factset, a multi-currency performance analytical system. The estimated attribution Sector and Region performance is reconciled with and adjusted to the reported official performance figures. *Effective from 31, attribution is presented against MSCI AC World Ex Australia. Portfolio characteristics Fund MSCI AC World ex Australia Tracking error* 1.8% N/A Active share 70.9% N/A Number of stocks 713 2,416 Source: Schroders, *Style Research Fund details Page 4 Portfolio size $A534m APIR code SCH0030AU Redemption price $ Inception date 26 July 2005 Buy/Sell spread 0.20%/0.15% Management costs 0.98% Distribution frequency Normally twice yearly June and Dec
5 Portfolio weights versus MSCI AC World ex Australia* Sector Industrials Materials Energy Telecommunication Services Health Care Insurance & Asset Mgt Information Technology Banks Real Estate Consumer Discretionary Utilities Consumer Staples-4.1 Cash Region Japan Emerging Markets United Kingdom Pacific ex Japan Continental Europe North America Cash Market capitalisation Mega Large Mid Small Micro The difference between the fund and benchmark weights may not equal stated active weights due to rounding. *Effective from 31, asset allocation is presented against MSCI AC World Ex Australia Schroder Investment Management Australia Limited Level 20 Angel Place, 123 Pitt Street, Sydney NSW 2000 Phone: Fax: (02) Investment in the Schroder Global Value Fund may be made on an application form accompanying the current Product Disclosure Statement, available from Schroder Investment Management Australia Limited (ABN AFSL ) ( Schroders ).This Report is intended solely for the information of the person to whom it is provided by Schroders. It should not be relied on by any person for the purposes of making investment decisions. Total returns are calculated using exit price to exit price, after fees and expenses, and assuming reinvestment of income. Gross returns are calculated using exit price to exit price and are gross of fees and expenses. The repayment of capital and performance of the Funds is not guaranteed by Schroders or any company in the Schroders Group. Past performance is not a reliable indicator of future performance. Unless otherwise stated the source for all graphs and tables contained in this report is Schroders. Opinions constitute our judgment at the time of issue and are subject to change. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation. For security reasons telephone calls may be recorded. Third party data is owned by the applicable third party identified above and is provided for your internal use only. Such data may not be reproduced or re-disseminated and may not be used to create any financial instruments or products or any indices. Such data is provided without any warranties of any kind. Neither the third party data owner nor any other party involved in the publication of this document can be held liable for any error. The terms of the third party s specific disclaimers are set forth in the Important Information section at Page 5
Schroder Global Value Fund (Hedged) Overview. Performance to 31 January Relative to MSCI All Country World ex Australia (Hedged)
Schroder Global Value Fund (Hedged) Overview Portfolio objective Key features To generate long-term returns before fees in excess of traditional capitalisation weighted global equity indices by investing
More informationFund (Net)
Overview Fund objective Key features To generate long-term returns before fees in excess of traditional capitalisation weighted global equity indices by investing in a diversified portfolio of equity and
More informationFund (Net)
Overview Fund objective Key features To generate long-term returns before fees in excess of traditional capitalisation weighted global equity indices but with lower downside risks relative to the indices.
More information1 month 3 mths FYTD 1 Year Fund (Net)
Overview Fund objective Key features To generate long-term returns before fees in excess of traditional capitalisation weighted global equity indices by investing in a diversified portfolio of equity and
More informationSchroder Global Quality Fund
Q3/ Schroder Global Quality Fund Overview Portfolio objective To generate long-term returns before fees in excess of traditional capitalisation weighted global equity indices but with lower downside risks
More informationFund (Net)
Overview Fund objective Key features To generate long-term returns before fees in excess of traditional capitalisation weighted global equity indices through an actively managed blend of our Value and
More informationSchroder Global Core Fund Wholesale Class. Overview. Performance to 30 June Fund characteristics as at 30 June Quarterly Report June 2018
Overview Fund objective To outperform the MSCI World ex Australia Index (net dividends reinvested) before fees across a broad range of market environments with limited index-relative risk. The Fund provides
More informationSchroder Global Value Extension Fund. Overview. Portfolio characteristics as at 31 December Quarterly Report December 2017
Overview Portfolio objective To generate long-term returns before fees in excess of traditional capitalisation weighted global equity indices by investing in a diversified portfolio of equity and equity
More informationSchroder ISF* QEP Global Quality Q Investment Report
For professional investors only Schroder ISF* QEP Global Quality Q2 2018 Investment Report * Schroder International Selection Fund is referred to as Schroder ISF throughout this document. Q2/2018 Schroders
More informationInvesco Wholesale Global Opportunities Funds Monthly Report
Invesco Wholesale Global Opportunities Funds Monthly Report 31 August 2018 Fund performance analysis - hedged - Class A (periods to 31 August 2018) Fund Managers Stephen Anness Fund Manager (Lead), Global
More informationInvesco Wholesale Australian Share Fund Monthly report
Invesco Wholesale Australian Share Fund Monthly report 31 May 2018 Fund performance analysis (periods to 31 May 2018) Fund Managers Andre Roberts Ritchard Longmire CJ Tsai Portfolio Manager - Neil Lahy
More informationEastspring Investments Asian Low Volatility Equity Fund
Factsheet Singapore August 2018 All data as at 31 July 2018 unless otherwise stated Eastspring Investments Asian Low Volatility Equity Fund FUND DETAILS Fund size (mil) 305.7 Fund base currency Fund dealing
More informationQEP Global Equity Team, Schroder Investment Management Australia Ltd
Schroders Smart Beta QEP Global Equity Team, Schroder Investment Management Australia Ltd Executive summary Smart beta may be the latest trend in the investment community but the concept is far from revolutionary.
More informationActive M Emerging Markets Equity Fund (NMMEX) (Formerly known as Multi-Manager Emerging Markets Equity Fund)
NORTHERN FUNDS Active M Emerging Markets Equity Fund (NMMEX) (Formerly known as Multi-Manager Emerging Markets Equity Fund) 2Q 2018 Performance Review June 30, 2018 Please carefully read the prospectus
More informationEastspring Investments Asian Low Volatility Equity Fund
Factsheet Singapore December 2018 All data as at 30 November 2018 unless otherwise stated Eastspring Investments Asian Low Volatility Equity Fund FUND DETAILS Fund size (mil) 293.4 Fund base currency Fund
More informationInternational High Dividend ADR Equity Strategy Q Commentary. Market and Economic Review
S C H A F E R C U L L E N C A P I T A L M A N A G E M E N T International High Dividend ADR Equity Strategy Q2 2018 Commentary Market and Economic Review International equity markets continued to moderate
More informationSummit Strategies Group 8182 Maryland Avenue, 6th Floor St. Louis, Missouri
Summit Strategies Group 8182 Maryland Avenue, 6th Floor St. Louis, Missouri 63105 314.727.7211 Quarterly Review Global Equity Market Update GLOBAL EQUITY MARKETS CALENDAR YEAR RETURNS 2002 2003 2004 2005
More informationSchroder Real Return Fund (Managed Fund) A new offering from Schroders (ASX:GROW)
Schroder Real Return Fund (Managed Fund) A new offering from Schroders (ASX:GROW) September 2016 Introductory presentation Schroder Investment Management Australia Limited ABN 22 000 443 274 Australian
More informationSchroder Global Value Fund. Wholesale Class. Product Disclosure Statement Issued: 1 August 2017
Schroder Global Value Fund Product Disclosure Statement Issued: 1 August 2017 Contact details Schroder Investment Management Australia Limited (ABN 22 000 443 274) (AFSL No. 226 473) Registered office
More informationADVANCE DEFENSIVE YIELD MULTI-BLEND FUND
ADVANCE DEFENSIVE YIELD MULTI-BLEND FUND As at 30 June 2018 FUND PERFORMANCE * 1 month 3 months 6 months 1 year 2 year (% pa) Since incept (% pa) Growth return (0.76) (1.18) (1.45) (1.60) (0.84) (0.01)
More informationHigh Dividend Value Equity Q Commentary. Market Review:
S C H A F E R C U L L E N High Dividend Value Equity Q3 2016 Commentary Market Review: C A P I T A L M A N A G E M E N T In the third quarter of 2016, the S&P 500 and Russell 1000 Value returned 3.9% and
More informationEastspring Investments Asian Property Securities Fund
Factsheet Singapore January 2019 All data as at 31 December 2018 unless otherwise stated Eastspring Investments Asian Property Securities Fund RATINGS Class A Morningstar Overall Rating QQQQ FUND DETAILS
More informationZenith Monthly Market Report Zenith Monthly Market Report (30 June 2010)
Zenith Monthly Market Report (30 June 2010) Market Indicators Market Indicator End of Month Previous Month 1 Month Change 12 Months Ago 12 Month Change Interest Rates Overnight Cash 4.50 4.50 0.00% 3.00
More informationSpecialist Funds. Product Disclosure Statement Platform
Specialist Funds Product Disclosure Statement Platform Issued 1 July 2014 Issued by AMP Capital Funds Management Limited ABN 15 159 557 721 AFSL 426455 Specialist Funds Issued 1 July 2014 Issuer and responsible
More informationInvesco Wholesale Australian Share Fund Monthly report
Invesco Wholesale Australian Share Fund Monthly report 31 August 2018 Fund performance analysis (periods to 31 August 2018) Fund Managers Andre Roberts Ritchard Longmire CJ Tsai Portfolio Manager - Neil
More informationInvesco Wholesale Australian Smaller Companies Fund - Class A Monthly Report
Invesco Wholesale Australian Smaller Companies Fund - Class A Monthly Report 31 May 2018 Performance analysis (periods to 31 May 2018) Fund Managers Andre Roberts Ritchard Longmire CJ Tsai Portfolio Manager
More informationWILSHIRE MUTUAL FUNDS
WILSHIRE MUTUAL FUNDS SEMI-ANNUAL REPORT (Unaudited) LARGE COMPANY GROWTH PORTFOLIO LARGE COMPANY VALUE PORTFOLIO SMALL COMPANY GROWTH PORTFOLIO SMALL COMPANY VALUE PORTFOLIO WILSHIRE 5000 INDEX SM FUND
More informationNorth American Equity Fund. Quarterly Investment Report
North American Equity Fund Quarterly Investment Report As of September 30, 2018 Overview Fund objective The Fund seeks long-term capital growth. Fund valuation Total net assets (all share classes) Fund
More informationElston Blend Model Market Update
Blend Model Market Update September 2018 Snapshot of the month The S&P/ASX 100 Accumulation Index declined -1.3% while the MSCI World ex Australia NR Index (A$) ended +0. higher. The A$ appreciated +0.
More informationSpecialist International Share Fund
Specialist International Share Fund Manager Profile January 2016 Adviser use only Specialist International Share Fund process process for this Fund is structured in the following steps: Step 1 Objectives:
More informationFund Management Diary
Fund Management Diary Meeting held on 15 th May 2018 IT sector to struggle when the S&P 500 slumps Capital Economics expects the United States economy to slow next year and cause the S&P 500 to fall to
More informationInternational High Dividend ADR Equity Strategy Q Commentary. Market and Economic Review
S C H A F E R C U L L E N C A P I T A L M A N A G E M E N T International High Dividend ADR Equity Strategy Q4 2013 Commentary Market and Economic Review Major international equity markets ended the year
More informationEquity Market Review and Outlook
REVIEW AND OUTLOOK Q3 2016 Equity Market Review and Outlook By Richard Skaggs, CFA, VP, Senior Equity Strategist KEY TAKEAWAYS Stocks rallied handily in the third quarter, led by global markets. The Fed
More informationMarket Watch. July Review Global economic outlook. Australia
Market Watch Latest monthly commentary from the Investment Markets Research team at BT. Global economic outlook Australia Available data for the June quarter is consistent with a moderation in GDP growth
More informationNorthern Multi-Manager International Equity Fund
N O R T H E R N F U N D S Northern Multi-Manager International Equity Fund 4Q'13 Attribution & Performance Please carefully read the prospectus and summary prospectus and consider the investment objectives,
More informationAustralian Shares 99.7% Other 0.3%
Fund Overview About the Fund The Fund aims to provide returns from companies that are expected to deliver a growing dividend stream over time. The Fund is expected to generate tax effective returns by:
More informationFund Quarterly Commentary TD Emerald Low Volatility Global Equity Non-Taxable Investors Pooled Fund Trust Commentary September 30, 2018
Fund Quarterly Commentary TD Emerald Low Volatility Global Equity Non-Taxable Investors Pooled Fund Trust Commentary September 30, 208 Fund Strategy Over the long term, the TD Emerald Low Volatility Global
More informationSchroder Asian Income Monthly Fund Update
Monthly Fund Update Fund Performance As at 30 April 2016, in SGD 1 month Year to date 1 Year 3 Years (p.a.) Since launch* (p.a.) Fund (Bid-Bid) (%) Fund (Offer-Bid) (%) 0.9 1.9-2.3 2.3 8.0-4.1-3.2-7.2
More informationInvesting in Australian Small Cap Equities There s a better way
Investing in Australian Small Cap Equities There s a better way Greg Cooper, Chief Executive Officer, Australia November 2017 Executive Summary This paper explores the small cap Australian Shares market,
More informationFund Fact Sheet. for members of the Hewlett-Packard Limited Pension Scheme
Fund Fact Sheet for members of the Hewlett-Packard Limited Pension Scheme 31 December 29 Introduction This fact sheet gives you details of the investment funds available to you as a member of the Hewlett-Packard
More informationFidelity Global ex U.S. Index Fund
QUARTERLY FUND REVIEW AS OF DECEMBER 31, 2017 Fidelity Global ex U.S. Fund Investment Approach Fidelity Global ex U.S. Fund is a diversified international equity strategy that seeks to closely track the
More informationQuarterly Market Review
Quarterly Market Review THEMES FOR THE QUARTER Emerging Markets the Standout in Mixed Q1 Global Equity Returns Developed Markets Positive; Australia and NZ Negative Value Premium Positive in Emerging Markets;
More informationEastspring Investments Asian Low Volatility Equity Fund
Factsheet Singapore October 2018 All data as at 30 September 2018 unless otherwise stated Eastspring Investments Asian Low Volatility Equity Fund FUND DETAILS Fund size (mil) 307.3 Fund base currency Fund
More informationInvesco Wholesale Global Targeted Returns Fund Class A Monthly Report
Invesco Wholesale Global Targeted Returns Fund Class A Monthly Report 31 March 2018 FUND MANAGER OF THE YEAR 2017 WINNER Alternative Investments Fund performance analysis (periods to 31 March 2018) s Net
More informationZurich Investments Wholesale Funds
Zurich Investments Wholesale Funds Supplementary Product Disclosure Statement Preparation date: 25 July 2011 This document is a Supplementary Product Disclosure Statement (SPDS) for the Zurich Investments
More informationAntipodes Global Fund
Antipodes Fund ARSN 087 719 1 APIR IOF004AU FUND UPDATE AS AT 30 JUNE 2018 Fund features pragmatic value manager, long only and long-short Structured to reinforce alignment between investors and the investment
More informationPORTFOLIO UPDATE AND FINANCIAL PLANNING NEWS
PORTFOLIO UPDATE AND FINANCIAL PLANNING NEWS June Quarter 2018 Market Movements Australian Market Sector Performance (S&P ASX 200) Page 1 of 16 Australian Market Daily Performance June Quarter 2018 Commentary
More informationSchroder Oriental Income Fund
1 Fund Ltd is a client of Kepler Trust Intelligence. Material produced by Kepler Trust Intelligence covering should be considered a marketing communication, and is not independent research. Please see
More informationTempleton China Fund A (acc) USD
Franklin Templeton Investment Funds Value Equity Fund Manager Report Product Details 1 Fund Assets $581,186,801.52 Fund Inception Date 01/09/1994 Number of Issuers 52 Bloomberg ISIN Base Currency Investment
More informationTodd International Intrinsic Value Review
October 19, 2018 Intrinsic Value Team Todd Asset Management Todd International Intrinsic Value Review 3Q 2018 YTD 1 Year 3 Year* 5 Year* 7 Year* 10 Year* International Intrinsic Value (Gross) 0.2% -1.6%
More informationPortfolio Select Series. Portfolio Review Second Quarter 2012
Portfolio Select Series Portfolio Review Second Quarter 2012 Q2 Q2 3 Select Income Advantage Managed Portfolio 6 Select 80i20e Managed Portfolio 10 Select 70i30e Managed Portfolio 14 Select 60i40e Managed
More informationInternational High Dividend ADR Equity Strategy Q Commentary. Market and Economic Review
S C H A F E R C U L L E N C A P I T A L M A N A G E M E N T International High Dividend ADR Equity Strategy Q3 2018 Commentary Market and Economic Review International equity markets rebounded somewhat
More informationTempleton Global Equity Fund
Value Equity Product Profile Product Details Fund Assets $150,018,145.10 Fund Inception Date 10/03/2005 Number of Issuers 94 Base Currency AUD Investment Style Value Overview Our time-tested investment
More informationPerformance Summary October 2018
Performance Summary October 2018 SA Metropolitan Fire Service Superannuation Scheme Funds SA is responsible for investing the assets of the SA Metropolitan Fire Service Superannuation Scheme. In this summary,
More informationPlease also refer to the attached Investment Manager s July 2006 Monthly Portfolio Report.
MARKET ANNOUNCEMENT Monday, 14 August 2006 NTA Backing and Portfolio Details as at 31 July 2006 % Change Current Month Previous Month NTA Backing for Month Ending: 31 July 2006 30 June 2006 Pre-Tax NTA
More informationFidelity International Index Fund
QUARTERLY FUND REVIEW AS OF SEPTEMBER 30, 2017 Fidelity International Fund Investment Approach Fidelity International Fund is a diversified international equity strategy that seeks to closely track the
More informationSchroder Global Recovery Fund. Professional Class. Product Disclosure Statement Issued: 1 August 2017
Schroder Global Recovery Fund Product Disclosure Statement Issued: 1 August 2017 Contact details Schroder Investment Management Australia Limited (ABN 22 000 443 274) (AFSL No. 226 473) Registered office
More informationTempleton Asian Growth Fund A (Ydis) USD
Templeton Asian Growth Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $4,472,298,470.36 Fund Inception Date 16/04/1991 Number of Issuers
More informationLegg Mason Martin Currie Value Equity Trust
Legg Mason Martin Currie Value Equity Trust Quarterly Report June 2015 Trust Data as at 30 June 2015 Performance (%) 3 mths 1 yr pa 3 yrs pa 5 yrs pa Trust (net) -7.65 5.95 17.43 9.10 Trust (gross) -7.44
More informationUBS Global Allocation Fund
UBS Global Allocation Fund Strategy Update December 31, 2017 Morningstar category Share class: Ticker/billing symbols World Allocation OE A: BNGLX C: BNPCX P: BPGLX MFPWGM MFPWGO MFPWGP Strategy summary
More informationDiversified Shares Fund
December 2016 Diversified Shares Fund About Diversified Shares Fund Rated as Investment Grade by Lonsec. Australian investments generally have a market capitalisation greater than 200th ranked stock listed
More informationSummit Strategies Group 8182 Maryland Avenue, 6th Floor St. Louis, Missouri
Summit Strategies Group 8182 Maryland Avenue, 6th Floor St. Louis, Missouri 63105 314.727.7211 Quarterly Review Global Equity Market Update GLOBAL EQUITY MARKETS CALENDAR YEAR RETURNS 2002 2003 2004 2005
More informationUBS International Share Fund. Quarterly investment report to 31-Mar-18
UBS International Share Fund Quarterly investment report to 31-Mar-18 Performance Comments Before fees and expenses, the portfolio rose by 0.98% over the quarter, outperforming its benchmark. The portfolio
More informationDEMYSTIFYING THE MARKET STORM: A FACTOR PERSPECTIVE
DEMYSTIFYING THE MARKET STORM: A FACTOR PERSPECTIVE Many market observers could see signs of a coming storm long before stock prices started to slide. Among these indicators were outflows from the large
More informationHSBC Collective Investment Trust HSBC Asia Pacific ex Japan Equity Volatility Focused Fund
Important information: The Fund invests mainly in Asia Pacific ex Japan Equity. The Fund is subject to the risks of investing in emerging markets. The Fund may invest in financial derivative instruments
More informationPerformance Summary June 2015
Performance Summary June 2015 SA Metropolitan Fire Service Superannuation Scheme Funds SA is responsible for investing the assets of the SA Metropolitan Fire Service Superannuation Scheme. In this summary,
More informationUBS Investment Funds. Supplementary No. 1
Supplementary No. 1 UBS Investment Funds Product Disclosure Statement Issue No. 7, dated 28 April 2010 Offered by UBS Global Asset Management (Australia) Ltd ABN 31 003 146 290 AFS Licence No. 222605 Important
More informationGlobal Shares Quarterly Performance Update: Q4 2015
Global Shares Quarterly Performance Update: Q4 2015 Bianca Rose Portfolio Manager +612 9276 4558 bianca.rose@ibbotson.com Market Commentary The December quarter proved to be an eventful period for financial
More informationFund Fact Sheet. for members of the Hewlett-Packard Limited Pension Scheme
Fund Fact Sheet for members of the Hewlett-Packard Limited Pension Scheme 3 June 21 Introduction This fact sheet gives you details of the investment funds available to you as a member of the Hewlett-Packard
More informationTempleton Asian Growth Fund A. A (Ydis) USD
Templeton Asian Growth Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $4,711,861,226.99 Fund Inception Date 04/16/1991 Number of Issuers
More informationA (Ydis) USD. Franklin Templeton Investment Funds. Fund Manager Report. Calendar Year Returns (%) Portfolio Manager Insight
Templeton Emerging Markets Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $965,180,399.67 Fund Inception Date 28/02/1991 Number of
More informationQEP Investment Team. Schroders. There s nothing smart about Smart Beta
Schroders QEP Investment Team January 2015 There s nothing smart about Smart Beta Smart Beta presents a beguiling prospect to investors: a set-and-forget investment approach that can regularly outperform
More informationSMALL CAP PERSPECTIVES RUSSELL 2000 INDEX QUARTERLY ANALYSIS
SMALL CAP PERSPECTIVES RUSSELL 2 INDEX QUARTERLY ANALYSIS March 217 Market Recap Commentary First Quarter 217 US economy and The Fed Following the Fed s December 216 vote to raise the Fed Funds Rate a
More informationTempleton Asian Growth Fund A (acc) USD
Templeton Asian Growth Fund A (acc) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $3,686,704,307.04 Fund Inception Date 16.04.1991 Number of Issuers
More informationDenning Pryce Global Income Fund Quarterly report June 2017
ABN 67 6 639 25 AFSL 29885 Tel: 02 9222 359 www.denningpryce.com.au Denning Pryce Global Income Fund Quarterly report June 207 Market Overview The quarter was highlighted by the sell-down of the FANG technology
More informationGlobal High Dividend ADR Strategy Q Commentary
S C H A F E R C U L L E N C A P I T A L M A N A G E M E N T Global High Dividend ADR Strategy Q2 2018 Commentary Market and Economic Review The second quarter of 2018 marked a divergence in equity markets
More informationInternational Shares Fund Monthly Report January 2018
International Shares Fund Monthly Report January 2018 About International Shares Fund Only consists of companies that have passed Australian Ethical s positive and negative screens, based on the Ethical
More informationSchroder Global Core Fund. Wholesale Class. Product Disclosure Statement Issued: 1 August mfund code: SCH31
Schroder Global Core Fund Product Disclosure Statement Issued: 1 August 2017 mfund code: SCH31 Contact details Schroder Investment Management Australia Limited (ABN 22 000 443 274) (AFSL No. 226 473) Registered
More informationMarch Company meetings (last year Antares analysts made over 600 meetings with companies) General reading and research.
March 2018 Typically over 100% of alpha in Antares portfolios is from stock selection. Our approach is, and always has been, bottom-up stock picking. A consistent process and detailed, quality research
More informationThe SCCM International High Dividend Composite was -1.8% (net) in the 2nd Quarter versus -1.0% for MSCI EAFE.
S C H A F E R C U L L E N C A P I T A L M A N A G E M E N T International High Dividend Equity Strategy Q2 2013 Commentary Market and Economic Review Global asset markets mostly ended the quarter lower,
More informationAntipodes Global Fund
Antipodes Fund ARSN 087 719 515 APIR IOF0045AU FUND UPDATE AS AT 31 MAY 2018 Fund features pragmatic value manager, long only and long-short Structured to reinforce alignment between investors and the
More informationTempleton Asian Growth Fund A (Ydis) USD
Templeton Asian Growth Fund A (Ydis) USD Franklin Templeton Investment Funds Fund Manager Report Value Equity Product Details 1 Fund Assets $4472298470.36 Fund Inception Date 16/04/1991 Number of Issuers
More informationSchroder Investment Management Australia Bringing it all together Time to Focus on Outcomes
Schroder Investment Management Australia Bringing it all together Time to Focus on Outcomes Greg Cooper, CEO, Schroder Investment Management Australia Ltd November 2011 Schroder Investment Management Australia
More informationUBS International Share Fund. Quarterly investment report to 30-Sep-18
UBS International Share Fund Quarterly investment report to 30-Sep-18 Performance Comments Before fees and expenses, the portfolio rose by 6.75% over the quarter, underperforming its benchmark. % Return
More informationSchroder Institutional Series Product Disclosure Statement. Dated 1 February 2011
Dated 1 February 2011 Contents Schroder Investment Management Australia Limited ABN 22 000 443 274 Australian Financial Services Licence 226473 2 Important notes 3 About Schroders 4 At a glance 5 Fund
More informationSchroder Asian Income Monthly Fund Update
Schroder Asian Income Monthly Fund Update Fund Performance As at 30 September 2014, SGD 1 month Year to date Since launch* Schroder Asian Income Fund (Bid-Bid) (%) -1.7 8.4 35.2 Schroder Asian Income Fund
More informationPerformance Summary March 2018
Performance Summary March 2018 SA Metropolitan Fire Service Superannuation Scheme Funds SA is responsible for investing the assets of the SA Metropolitan Fire Service Superannuation Scheme. In this summary,
More informationASSET MANAGEMENT ROYAL LONDON GMAP BALANCED FUND. Quarterly Report 31 March For professional investors only, not for retail investors
ASSET MANAGEMENT ROYAL LONDON GMAP BALANCED FUND Quarterly Report 31 March 2018 For professional investors only, not for retail investors Contents CONTENTS ROYAL LONDON GMAP BALANCED FUND 3 2 PAGE Royal
More informationActive M International Equity Fund (NMIEX) (Formerly known as Multi-Manager International Equity Fund)
NORTHERN FUNDS Active M International Equity Fund (NMIEX) (Formerly known as Multi-Manager International Equity Fund) 4Q 2017 Performance Review December 31, 2017 Please carefully read the prospectus and
More informationPlease also refer to the attached Investment Manager s July 2008 Monthly Portfolio Report.
Thursday, 14 August 2008 MARKET ANNOUNCEMENT NTA Backing and Portfolio Details as at 31 July 2008 Change Current Month Previous Month NTA Backing for Month Ending: % 31 July 2008 30 June 2008 Pre-Tax NTA
More informationJPMorgan Asian Investment Trust plc Investment Manager Presentation Annual General Meeting
JPMorgan Asian Investment Trust plc Investment Manager Presentation Annual General Meeting 26th February 2018 Richard Titherington, Managing Director Chief Investment Officer of Emerging Markets and Asia
More informationAMP Capital Asian Equity Growth Fund
Dated: 23 June 2010 Issued by AMP Capital Investors Limited ABN 59 001 777 591 AFSL 232497 Product Disclosure Statement For investments through a master trust or wrap platform Contents About AMP Capital
More informationInvesting in Global Equities
G l o b a l H e r i t a g e A d v a n c e d T h i n k i n g I n n o v a t i v e S o l u t i o n s Investing in Global Equities Missing Art of Portfolio Management in Smart beta Michael O Brien, Ph.D. Analyst
More informationWealthSolutions. IPS Enhanced Index 30 Quarterly Report. As of 31/12/2018. Fourth quarter 2018
IPS Enhanced Index 30 Quarterly Report As of 31/12/2018 Fourth quarter 2018 Global equity markets experienced one of their worst quarters since the Global Financial Crisis while cash and bonds made a comeback
More informationJPM US Equity Income Fund
J.P. Morgan Asset Management Investment Summit 2016 JPM US Equity Income Fund HALF IMAGE PLACEMENT HOLDER (HORIZONTAL) Resize image to cover grey box Clare Hart, Managing Director, Portfolio Manager #JPMsummit
More informationInternational Shares Fund Monthly Report June 2018
International Shares Fund Monthly Report June 2018 About International Shares Fund Rated as Investment Grade by Lonsec. Only consists of companies that have passed Australian Ethical s positive and negative
More informationGlobal Convertible Bonds Investment Rationale
Marketing material for professional investors or advisers only Global Convertible Bonds Investment Rationale Strategy overview 10 year Schroders has been offering convertible bond strategies now for ten
More informationGuinness Atkinson Dividend Builder Fund Managers Update August 2017
July in Review As we head into the summer months, market returns like the weather have been pleasant. The global economy is growing almost everywhere and attention is sharply turning to economic data,
More informationGLOBAL LARGE CAP QUALITY GROWTH CAD
STRATEGY PROFILE Q4 2018 GLOBAL LARGE CAP QUALITY GROWTH CAD INCEPTION: October 1992 1 BENCHMARK: MSCI World Total Return Index STRATEGY ASSETS: C$ 7,464 million LEAD PORTFOLIO MANAGER: Paul Musson, CFA
More informationHSBC Global Investment Funds - Asia ex Japan Equity Smaller Companies Share Class AD (Active - Closed to All Investors)
HSBC Global Investment Funds - Asia ex Japan Equity Smaller Companies Share Class (Active - Closed to All Investors) 28 Feb 2018 28/02/2018 Fund Objective and Strategy The Fund aims to provide long-term
More information