Objective

Seeks long-term capital appreciation through investment in equities of medium to large capitalization companies (including preferred stock or convertible securities) issued by companies worldwide.

Strategy

Emphasizes diversification across companies in different regions and industry sectors, primarily in developed markets; may invest up to 30% in companies in emerging markets

Fund Facts
Asset Manager
  • Scott Investment Partners LLP
  • Los Angeles Capital Management and Equity Research Inc.
Benchmark EUR Class: MSCI All Country World Index (Euro); USD Class: MSCI All Country World Index (USD)
Fund Inception Date EUR Class: February 23, 2015; USD Class: May 25, 2017
Mimimum Investment EUR Class: €50,000; USD Class: $65,000
Expense Ratio EUR Class: 1.30; USD Class: 1.30
ISIN EUR Class: IE00BKRTPF98; USD Class: IE00BKRTPD74

Annual Average Total Returns
(%) as of 31/03/2019

Trailing 3
Months
1
Yr
3
Yrs
5
Yrs
10
Yrs
Since
Inception
Inception
Date
World Equity Fund (EUR) 14.09 13.95 9.43 * * 5.76 EUR Class: February 23, 2015; USD Class: May 25, 2017
MSCI All Country World Index (EUR) 14.36 12.99 11.82 * * 7.13 EUR Class: February 23, 2015; USD Class: May 25, 2017
World Equity Fund (USD) 11.7 3.89 * * * 7.28 EUR Class: February 23, 2015; USD Class: May 25, 2017
MSCI All Country World Index (USD) 12.32 3.16 * * * 7.77 EUR Class: February 23, 2015; USD Class: May 25, 2017

Characteristics as of 31/03/2019

Statistics Fund Index
Weighted Median Market Cap € 37.6B € 49.9B
Average Price/Book 3.0x 2.2x
Average Price/Earnings 19.5x 16.8x
Average Yield 2.0% 2.5%
Beta (ex ante) 1.0 1.0
Active Share 68.3 N/A
5 Yr Earnings Rate 12.8% 12.4%
Ten Largest Portfolio Holdings 14.6% 5.1%
# Securities in Portfolio 447 2,771
Turnover Rate (12 Mo) 53.7 N/A
Fund Size (EUR Class) € 268.3MM
Fund Size (USD Class) $ 17.0MM
Sector Fund Index Diff.
Communication Services 5.9 8.7 -2.8
Consumer Discretionary 16.0 10.8 5.2
Consumer Staples 9.9 8.4 1.5
Energy 8.0 6.3 1.7
Financials 7.4 16.6 -9.2
Healthcare 11.2 11.7 -0.5
Industrials 9.4 10.4 -1.1
Information Technology 18.7 15.7 3.0
Materials 5.3 4.9 0.4
Real Estate 3.9 3.3 0.6
Utilities 2.5 3.3 -0.8
Cash 1.9 0.0 1.9
Region Fund Index
France 4.4 3.4
Germany 2.0 2.6
Italy 0.9 0.7
United Kingdom 4.7 5.2
Japan 7.8 7.2
Canada 1.2 3.0
United States 54.8 55.0
Other Developed Europe 9.6 7.3
Other Developed Asia 5.5 3.8
Other Emerging Asia 7.6 8.7
Other Emerging Markets 1.4 3.0
Top 10 Holdings % Weight
Microsoft Corporation 2.4
Alphabet Inc. 1.9
L'Oreal SA 1.3
Nestle S.A. 1.3
Medtronic Public Limited Company 1.3
NIKE, Inc. 1.3
Hong Kong & China Gas Co. Ltd. 1.3
Stryker Corporation 1.3
Paychex, Inc. 1.2
EssilorLuxottica SA 1.2
  • Q1 2019 Performance Review

    3-MONTH REVIEW

    • Before fees, the Fund slightly outperformed the benchmark index by 8 bps in Q1.
    • Not much stands out as significant contributors to or detractors from relative performance other than the 62 bps loss due to transactional cash held in a strong up market.
    • The Fund‘s historical tendency to overweight Information Technology, Consumer Discretionary and Energy stocks while underweighting Financial stocks were all positive contributors in Q1.
    • Stock selection results within various sectors were mixed but overall neutral for the fund in the quarter.

    12-MONTH REVIEW

    • Sector allocation decisions turned out mostly neutral for the year; the financial underweight added 70 bps, but transactional cash drag in an up market detracted 50 bps.
    • Security selection in aggregate added more than 200 bps. Stock selection results were strongest in Consumer Discretionary (+116 bps), Materials (+64 bps), Healthcare (+61 bps) and Consumer Staples (+56 bps).
    • A couple of strong performing specialty retail company stocks led the way within consumer discretionary. Similarly, three healthcare equipment and supply stocks with outsized returns drove the contributions to excess return within the Healthcare sector.
  • Fund Fact Sheet

    PDF
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