Fund goals
The Fund aims to provide long-term capital growth through a portfolio of global equities.
Fund strategy
The underlying Fund is managed by Andrew Hall and the Global Equities team in the Henley Investment Centre in the United Kingdom. The team uses a fundamental, bottom-up approach, driven by valuation, building a concentrated, 'best ideas', high conviction global equity portfolio. The team builds a 40-65 stock portfolio selected from global equity securities listed in developed or developing markets that generally have a minimum market capitalisation of US$1 billion.
Key facts
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Asset classGlobal equities
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BenchmarkMSCI All Country World Net TR Index - unhedged in A$
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Name of investment teamInvesco Global Equities
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Location of investment teamHenley-on-Thames, UK
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Fund inceptionAug 1999
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Fund size$222 million
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Investment approachFundamental, bottom-up
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Time Horizon7 years
Key details
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Account period endsJune
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APIR codeGTU0102AU
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Distribution frequencyHalf-yearly
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MER/ICR0.95%
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Minimum investment$20,000
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Unit prices updatedDaily
Growth of $10,000 invested
Performance
| Period | Fund % | Benchmark* % | Value added % |
|---|---|---|---|
| 1 month | 0.83 | 2.33 | -1.50 |
| 3 months | 3.77 | 6.42 | -2.65 |
| 1 year | 17.11 | 22.75 | -5.64 |
| 3 years p.a. | 24.03 | 21.88 | 2.15 |
| 5 years p.a. | 18.17 | 15.34 | 2.83 |
| 10 years p.a. | 11.73 | 12.57 | -0.84 |
| Since inception p.a. | 6.50 | 6.50 | 0.00 |
Calendar year performance
| Period - calendar year | Fund % | Benchmark* % | Value added % |
|---|---|---|---|
| 2024 | 29.24 | 29.48 | -0.24 |
| 2023 | 30.36 | 21.45 | 8.91 |
| 2022 | -12.22 | -12.48 | 0.26 |
| 2021 | 34.00 | 25.81 | 8.19 |
| 2020 | -1.67 | 5.90 | -7.58 |
Distribution/growth splits
| Period | Distribution return % | Growth return % | Total return % |
|---|---|---|---|
| 3 months | 7.13 | -3.36 | 3.77 |
| 1 year | 9.63 | 7.48 | 17.11 |
| 3 years p.a. | 12.83 | 11.20 | 24.03 |
| 5 years p.a. | 13.24 | 4.93 | 18.17 |
The Fund returns in the tables above are shown after ongoing fees and assume reinvestment of income. Past returns are not a reliable indicator of future returns. Future returns may be affected by a range of factors including economic and market influences.
* Benchmark history is as follows:
- From inception to 30/09/02 = MSCI World Index (gross dividends reinvested) - unhedged in $A
- From 01/10/02 = MSCI World Index (net dividends reinvested) - unhedged in A$
- From 5/5/16 = MSCI All Country World Net TR Index - unhedged in A$
10 largest holdings
| Stock name | Fund % | Benchmark* % | Active weight % |
|---|---|---|---|
| Microsoft Corporation | 7.08 | 4.05 | 3.03 |
| NVIDIA Corporation | 4.67 | 5.04 | -0.37 |
| Apple Inc. | 3.96 | 4.21 | -0.25 |
| Meta Platforms Inc Class A | 2.93 | 1.77 | 1.17 |
| Alphabet Inc. Class C | 2.89 | 1.33 | 1.56 |
| 3i Group plc | 2.83 | 0.06 | 2.77 |
| Mastercard Incorporated Class A | 2.81 | 0.54 | 2.27 |
| Amazon.com, Inc. | 2.79 | 2.32 | 0.46 |
| Canadian Pacific Kansas City Limited | 2.75 | 0.08 | 2.68 |
| Taiwan Semiconductor Manufacturing Co., Ltd. | 2.34 | 1.17 | 1.17 |
Five largest overweight positions
| Stock name | Fund % | Benchmark* % | Active weight % |
|---|---|---|---|
| Microsoft Corporation | 7.08 | 4.05 | 3.03 |
| 3i Group plc | 2.83 | 0.06 | 2.77 |
| Canadian Pacific Kansas City Limited | 2.75 | 0.08 | 2.68 |
| Mastercard Incorporated Class A | 2.81 | 0.54 | 2.27 |
| WEC Energy Group Inc | 1.92 | 0.04 | 1.88 |
Five largest underweight positions
| Stock name | Fund % | Benchmark* % | Active weight % |
|---|---|---|---|
| Alphabet Inc. Class A | 0.00 | 1.57 | -1.57 |
| Tesla, Inc. | 0.00 | 1.43 | -1.43 |
| Eli Lilly and Company | 0.00 | 0.68 | -0.68 |
| Visa Inc. Class A | 0.00 | 0.65 | -0.65 |
| Netflix, Inc. | 0.00 | 0.57 | -0.57 |
Asset class allocation
Sector allocation
*Benchmark = MSCI All Country World Net TR Index - unhedged in A$
Note: Security selection will change. You should not rely on this statement in making an investment decision about any security, but should make your own independent enquiries. Portfolio data for hedged products will show the data for the underlying unhedged portfolio in which it invests.