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 30/09/2019

Trailing 3
Months
1
Yr
3
Yrs
5
Yrs
10
Yrs
Since
Inception
Inception
Date
World Equity Fund (EUR) 2.94 6.56 9.08 * * 6.29 01/01/1970
MSCI All Country World Index (EUR) 4.56 8.61 11.42 * * 7.91 01/01/1970
World Equity Fund (USD) -1.33 0.03 * * * 6.69 01/01/1970
MSCI All Country World Index (USD) 0.10 1.95 * * * 7.81 01/01/1970

Characteristics as of 30/09/2019

Statistics Fund Index
Weighted Median Market Cap € 38.4B € 54.6B
Average Price/Book 3.5x 2.2x
Average Price/Earnings 21.2x 17.5x
Average Yield 1.9% 2.5%
Beta (ex ante) 1.0 1.0
Active Share 69.5 N/A
5 Yr Earnings Rate 12.0% 12.2%
Ten Largest Portfolio Holdings 16.2% 7.8%
# Securities in Portfolio 455 2,852
Turnover Rate (12 Mo) 50.3 N/A
Fund Size (EUR Class) € 282.8MM
Fund Size (USD Class) $ 17.9MM
Sector Fund Index Diff.
Communication Services 6.7 8.8 -2.1
Consumer Discretionary 17.4 10.8 6.5
Consumer Staples 11.0 8.6 2.4
Energy 5.8 5.5 0.4
Financials 8.5 16.7 -8.3
Healthcare 11.2 11.3 -0.1
Industrials 10.5 10.5 0.0
Information Technology 18.7 16.3 2.4
Materials 4.9 4.7 0.1
Real Estate 2.2 3.3 -1.2
Utilities 2.0 3.5 -1.5
Cash 1.3 0.0 1.3
Region Fund Index
France 5.2 3.4
Germany 1.7 2.5
Italy 0.8 0.7
United Kingdom 4.6 4.9
Japan 8.6 7.3
Canada 0.8 3.1
United States 56.5 56.0
Other Developed Europe 9.3 7.4
Other Developed Asia 4.4 3.6
Other Emerging Asia 6.8 8.4
Other Emerging Markets 1.5 2.8
Top 10 Holdings % Weight
Microsoft Corporation 2.8
Alphabet Inc. 2.0
TJX Companies, Inc. 1.7
Apple Inc. 1.5
Nestle S.A. 1.5
Medtronic Public Limited Company 1.5
NIKE, Inc. 1.4
L'Oreal SA 1.3
Stryker Corporation 1.3
HOYA CORPORATION 1.3
  • Q3 2019 Performance Review

    3-MONTH REVIEW

    • The performance shortfall was driven primarily by weak stock selection results in Energy, Information Technology and Utilities.
    • The Fund’s underweight in Financials and overweight in Information Technology were additive during the quarter.
    • Performance was detracted due to each of the following: 1) the slight overweight to weaker performing Energy stocks, 2) the underweight in Utilities, and 3) the impact of holding some transactional cash during an up-market period.

    12-MONTH REVIEW

    • The largest sector allocation impact for the Fund was from the overweight to weak performing Energy stocks.
    • Transactional cash holdings in a period of mostly up movements in valuations detracted.
    • Security selection in aggregate added. Results were strongest in Health Care, and Consumer Discretionary.
    • Three equipment and supply stocks with outsized returns drove the contributions to excess return within the Health Care sector.
    • Positive results spread throughout individual stocks in several industries within Consumer Discretionary. The absence of tobacco stocks added to relative return.
  • Fund Fact Sheet

    PDF
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