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 31/03/2021

Trailing 3
Months
1
Yr
3
Yrs
5
Yrs
10
Yrs
Since
Inception
Inception
Date
World Equity Fund (EUR) 7.81 44.45 13.12 10.73 * 7.99 20/2/2015
MSCI All Country World Index (EUR) 8.98 44.99 14.37 13.11 * 9.67
World Equity Fund (USD) 3.49 53.59 11.32 * * 11.34 24/5/2017
MSCI All Country World Index (USD) 4.68 55.31 12.66 * * 12.83

Characteristics as of 31/12/2020

Statistics Fund Index
Weighted Median Market Cap € 34.3B € 63.3B
Average Price/Book 3.9x 2.7x
Average Price/Earnings 30.0x 25.0x
Average Yield 1.4% 1.9%
Beta (ex ante) 0.9 N/A
Active Share 69.7 N/A
5 Yr Earnings Rate 13.4% 12.3%
Ten Largest Portfolio Holdings 15.1% 10.4%
# Securities in Portfolio 456 2,982
Turnover Rate (12 Mo) 42.7 N/A
Fund Size (EUR Class) € 345.7MM
Fund Size (USD Class) $ 27.7MM
Sector Fund Index Diff.
Communication Services 5.9 9.3 -3.4
Consumer Discretionary 18.3 13 5.3
Consumer Staples 9.8 7.4 2.5
Energy 3.8 3.0 0.8
Financials 5.2 13.5 -8.3
Healthcare 10.9 11.9 -1.0
Industrials 10.2 9.7 0.5
Information Technology 22.8 21.9 1.0
Materials 8.1 4.9 3.2
Real Estate 0.3 2.6 -2.2
Utilities 1.0 3.0 -2.0
Cash 3.7 0.0 3.7
Region Fund Index
France 3.8 2.8
Germany 1.1 2.5
Italy 0.2 0.6
United Kingdom 4.5 3.9
Japan 9.4 6.8
Canada 0.5 2.8
United States 53.8 55.6
Other Developed Europe 12.0 9.0
Other Developed Asia 5.2 3.6
Other Emerging Asia 7.7 10.2
Other Emerging Markets 1.6 2.3
Top 10 Holdings % Weight
Microsoft Corporation 2.9
Apple Inc. 2.4
Amazon.com, Inc. 1.3
Fanuc Corporation 1.3
Cerner Corporation 1.3
L'Oreal SA 1.2
Fastenal Company 1.2
Dollar Tree, Inc. 1.2
Facebook, Inc. Class A 1.1
HOYA CORPORATION 1.1
  • Q4 2020 Performance Review

    12-Month Review

    • The Fund outperformed the benchmark.
    • Sector allocation benefited relative results with more than half coming from the underweight to Financials. The overweights to Consumer Discretionary and Information Technology also helped. The underweight to Communications Services and modest overweight to Energy detracted.
    • Security selection in aggregate detracted.

    3-Month Review

    • The modest contribution of selection was offset by the adverse effect in sector allocation.
    • Selection within Consumer Discretionary and Information Technology was the biggest contributors.

    Current Positioning:

    • The Fund is modestly underweight to emerging markets and has a modest underweight to the U.S. There is an overweight to developed markets outside the U.S.
    • The Fund’s holdings indicate a bias toward growth over value with a higher than market P/E and P/B ratios and a lower dividend yield.
    • The Fund is positioned for long term economic growth at reasonable prices
  • Fund Fact Sheet

    PDF
Please review our important disclosures.