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Risk Considerations

  1. The Fund is actively managed and invests mainly in a diversified portfolio of shares of companies that have the potential for above-market average and sustainable rates of earnings growth (i.e. a growth-style oriented portfolio in aggregate). The companies may be anywhere in the world, including emerging markets. 
  2. Investment in the Fund involves risks, including general investment risk, equity market risk, style risk, geographic concentration risk,  emerging markets risk, risk associated with high volatility of equity markets in emerging countries, risk associated with regulatory/exchanges requirements of the equity markets in emerging countries, risks associated with depositary receipts, exclusion criteria risk and currency risks which may result in loss of a part or the entire amount of your investment.
  3. The Fund may use derivatives for hedging and efficient portfolio management and is subject to derivatives risk. Exposure to derivatives may lead to a risk of significant loss by the Fund.
  4. The value of the Fund can be volatile and could go down substantially.
  5. Investors should not invest in the Fund solely based on this website.

Investment involves risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Global Growth Equity Fund
An actively managed, growth-oriented portfolio of typically 150-200 companies, seeking to harness the best ideas of our global research team. The fund offers broad exposure to the global equity universe, both developed and emerging markets, investing in around 30 countries.
ISIN LU0382932902
30-Nov-2023 - Scott Berg, Portfolio Manager,
Even though markets have performed better than we expected thus far in 2023, in our view, it has been more about investors’ worst fears being avoided rather than about absolute strength. We think we are in a world with higher interest rates, more challenging growth prospects, and likely lower corporate earnings moving forward.

Fund Summary
We seek to invest in high-quality, durable businesses with sustainable growth prospects. We look for companies in attractive industries with improving fundamentals and potential for above-average and sustainable rates of earnings growth, when we believe valuations offer us high conviction, upside potential. The manager is not constrained by the fund's benchmark, which is used for performance comparison purposes only.
Performance - Net of Fees

Past performance is not a reliable indicator of future performance.

30-Nov-2023 - Scott Berg, Portfolio Manager,
Global equities advanced strongly in November amid hopes that major central banks may not have to raise interest rates further to combat inflation. Within the portfolio, our holdings in the energy sector detracted the most from relative performance. Shares of a large oil field services company declined as falling oil prices pressured energy names. We believe the company is the technology leader in its field with the greatest scale and best reputation with customers. In our view, the firm is also well positioned to benefit from increased international spending that we expect to occur both onshore and offshore and across commodities. On the positive side, stock selection in information technology helped relative returns. Shares of an e-commerce omnichannel platform surged following the release of stronger- than-expected third-quarter earnings and fourth-quarter revenue guidance. Management noted that third-quarter gross merchandise value strength was primarily driven by merchant growth across the platform. We think the company is well positioned for accelerating returns given the fact that its strategic positioning as the digital operating system for smaller merchants has only strengthened over the last couple years, and recent plans for increased monetisation are encouraging.
30-Nov-2023 - Scott Berg, Portfolio Manager,
We are positioned overweight in the materials sector. In metals and mining, we have thoughtful exposure to steel, copper, and lithium. We have also maintained a diversified approach that includes positions in chemicals, where the Russia–Ukraine conflict has contributed to increased demand and tightening supply, and construction materials. We see the materials sector as an opportunity to own companies that will have a positive impact on sustainability and the environment but also recognise we could be in a prolonged period of higher commodity prices due to the situation in Ukraine.