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 30/09/2021

Trailing 3
Months
1
Yr
3
Yrs
5
Yrs
10
Yrs
Since
Inception
Inception
Date
World Equity Fund (EUR) 1.48 24.83 10.95 10.71 * 8.34 20/2/2015
MSCI All Country World Index (EUR) 1.35 29.49 13.22 13.07 * 10.18
World Equity Fund (USD) -0.87 23.33 10.86 * * 11.18 24/5/2017
MSCI All Country World Index (USD) -0.95 27.98 13.14 * * 12.9

Characteristics as of 30/09/2021

Statistics Fund Index
Weighted Median Market Cap € 43.6B € 75.4B
Average Price/Book 3.4x 2.9x
Average Price/Earnings 20.6x 19.8x
Average Yield 1.6% 1.7%
Beta (ex ante) 1 N/A
Active Share 20.4 N/A
5 Yr Earnings Rate 12.5% 14.5%
Ten Largest Portfolio Holdings 15.0% 12.3%
# Securities in Portfolio 465 2,977
Turnover Rate (12 Mo) 45.0 N/A
Fund Size (EUR Class) € 412.8MM
Fund Size (USD Class) $ 44.7MM
Sector Fund Index Diff.
Communication Services 6.9 9.3 -2.4
Consumer Discretionary 18.8 12.4 6.4
Consumer Staples 7.2 6.8 0.4
Energy 5.6 3.5 2.1
Financials 8.3 14.4 -6.1
Healthcare 9.1 11.7 -2.6
Industrials 10 9.7 0.3
Information Technology 23.7 22.3 1.3
Materials 6.5 4.7 1.8
Real Estate 0.6 2.6 -2.0
Utilities 1.1 2.6 -1.6
Cash 2.4 0.0 2.4
Region Fund Index
France 3.3 2.7
Germany 2.1 2.3
Italy 0.2 0.5
United Kingdom 4.1 3.9
Japan 10.1 6.2
Canada 1.3 3.0
United States 54.1 57.8
Other Developed Europe 12.5 9.2
Other Developed Asia 4.0 3.2
Other Emerging Asia 7.0 9.1
Other Emerging Markets 1.4 2.1
Top 10 Holdings % Weight
Microsoft Corporation 3.1
Apple Inc. 2.2
NIKE, Inc. Class B 1.4
HOYA CORPORATION 1.3
Amazon.com, Inc. 1.3
Nestle S.A. 1.1
Alphabet Inc. Class C 1.1
Alphabet Inc. Class A 1.1
Ulta Beauty Inc 1.1
Electronic Arts Inc. 1.1
  • 2Q 2021 Performance Review

    12-Month Review

    • Overweight allocations to Consumer Discretionary and Materials had a positive effect to relative results. The underweight to Utilities helped to offset some of the negative allocation decision results. Holding transactional cash was a drag on performance.
    • Security selection in aggregate also had adverse effect.

    3-Month Review

    • Aside from Utilities, sector returns were positive, with some stronger than others. Overweight the Consumer Discretionary was the biggest detractor within benchmark relative allocation effects followed by the underweight to Health Care. The underweight to the poor performing utilities sector helped to offset some of the negative results.
    • Relative results were hurt by selection decisions.
    • The overweight allocation to the Japanese Yen, which weakened versus the Euro during the quarter, hampered relative results as the Yen weakened versus the Euro.

    Current Positioning:

    • The Fund indicates a bias toward value over growth with a lower that market P/E ratio.
    • Sector allocations include overweight in Consumer Discretionary, Consumer Staples, Energy Materials and Information Technology and underweights in Financials, Communication Services and Health Care.
    • The Fund is positioned for long term economic growth at reasonable prices.
  • Fund Fact Sheet

    PDF
Please review our important disclosures.