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-2.09  /  -0.13%

1550.64

NAV on 2019/07/18
NAV on 2019/07/17 1552.73
52 week high on 2018/09/05 1720.95
52 week low on 2019/01/04 1352.25
Total Expense Ratio on 2019/06/30 1.21
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 0.23% 0.23%
3 month change -1.39% -1.39%
6 month change 9.34% 9.34%
1 year change 2.56% 2.56%
5 year change 8.4% 8.4%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Liquid Assets 2.34 3.31%
Offshore 68.27 96.69%
  • Top five holdings
FINANCEINSTIT 2.34 3.31%
  • Performance against peers
  • Fund data  
Management company:
Foord Unit Trusts Limited
Formation date:
2014/05/02
ISIN code:
ZAE000190096
Short name:
U-FOOGLOE
Risk:
Unknown
Sector:
Global--Equity--General
Benchmark:
ZAR equivalent of MSCI All Country World
Contact details

Email
unittrusts@foord.co.za

Website
http://www.foord.co.za

Telephone
021-532-6969

  • Fund management  
Dave Foord
Dave Foord founded Foord Asset Management in 1981. Foord remains an independent, owner-controlled portfolio management business that focuses exclusively on investment management. For 30 years, Dave and the team at Foord have been delivering returns for their clients well in excess of market benchmarks. They have achieved this by consistently taking a long-term view and a contrarian approach when necessary.
Brian Arcese
Ishreth Hassen
Guy Shirtliff


  • Fund manager's comment

Foord Global Equity Feeder comment - Sep 18

2018/12/13 00:00:00
- Global equities (+0.4%) advanced - despite monetary policy tightening, trade war escalation and emerging markets jitters
- US equities (+0.4%) rose even as the US Federal Reserve raised rates and signalled further increases in 2019 - the US unemployment rate has remained below 4% for the longest period in 18 years, suggesting the economy is peaking
- Emerging markets were mixed - oil exporters Russia (+9.8%) and Brazil (+7.0%) outperformed oil importers India (-9.1%) and China (-1.4%)
- Chinese stocks (-1.4%) declined for the seventh month this year - the unresolved US/China trade war weighed on the fund's Chinese investments, most notably in leading Macau casino operator, Wynn Macau (-14.1%) and tech stock JD.Com (-15.2%)
- Energy (+3.5%) was the best performing sector as oil (+6.8%) surged to a four-year high - OPEC and Russia defied calls from global leaders to ramp production because of impending US sanctions on Iran
- Telecoms (+2.0%), healthcare (+1.8%) and industrials (+1.6%) also outperformed - the flatter US yield curve and debt concerns weighed on technology (-0.8%) and financial (-0.4%) stocks
- The managers increased exposure to gold and silver producers to hedge inflation and US dollar risks - the investment is underpinned by precious metal prices approaching the marginal cost of production amid dwindling supply
- Given the stage of the business cycle and valuations, the managers are underweight expensive markets and stocks which for the time being continue to outperform - the portfolio is underweight the US with a heavy skew to inexpensive businesses with margin of safety in earnings
- The rand (+3.9%) recovered some of its recent losses as the year's emerging markets rout took a breather - but the unfolding global macro environment and weak SA economic fundamentals continues to leave the currency vulnerable
  • Fund focus and objective  
The portfolio will be a Feeder Fund. The investment objective of the portfolio is to achieve optimum risk adjusted total returns by providing investors with exposure to an international collective investment scheme portfolio comprising a diversified mix of global equity and equity-related securities.
The target portfolio will have an equity focus but may also invest in money market and other approved instruments including, but not limited to, listed and unlisted financial instruments to minimise volatility, enhance the yield and capital growth, while taking steps to reduce the downside risks. The target portfolio will have no particular requirements in relation to capitalisation, any predetermined geographical distribution, or any particular emphasis on industry or sector, but will invest wherever the best opportunities present themselves across various sectors and regions.
Investments to be included in the portfolio will, apart from assets in liquid form, consist solely of participatory interests of only one collective investment scheme portfolio, namely the Foord Global Equity Fund being a Singapore-constituted stand-alone collective investment scheme in securities.
The portfolio will be exposed to exchange rate risk. The Manager may, at its discretion, include in the portfolio listed and unlisted financial instruments for the exclusive purpose of hedging these exchange rate risks.
Nothing in this supplemental Deed shall preclude the Manager from varying the ratios of investment in the underlying portfolio or assets in liquid form, to maximise overall return in response to market conditions or legal requirements, or from retaining cash or placing cash on deposit in terms of the Deed, provided that the Manager shall ensure that the unit portfolio complies with the Act.
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