GSF Lux SICAV

American Franchise

Morningstar Rating™

3

Latest NAV Price

202.6300
30 June 2022

NAV daily change %

-0.92

Dealing currency

USD

Fund size

USD 163.73 M
30 June 2022

Latest NAV Price

202.6300
30 June 2022

NAV daily change %

-0.92

Dealing currency

USD

Fund size

USD 163.73 M
30 June 2022

About the Fund

A differentiated approach to the US equity market, focusing on market leaders which possess strong competitive advantages and structural growth drivers.

Reasons to invest

  • Seeks to invest in market-leading companies which typically have high customer loyalty, strong brands, low debt and are more resilient in times of economic uncertainty.
  • A high-conviction portfolio of 20–401 stocks and has high active share.
  • Our investment philosophy results in a focus on structural growth – not cyclical – which gives companies the opportunity to invest, and if needed, adapt.
  • We seek long term outperformance with meaningful participation in up markets, smaller drawdowns in down markets and lower than average volatility.2
  • Managed by Paul Vincent, who is responsible for managing the research process for all of the Quality team’s global strategies as well as global equity idea generation and research
1 This is an internal parameter and subject to change without prior notification to investor
2 Versus S&P 500 NR

Find out more about Quality investing at Ninety One

Objective

Investment objective summary

  • The Fund aims to provide capital growth (i.e. to grow the value of your investment) with the opportunity for income over the long-term.
      • The Fund invests primarily in equities (e.g. shares of companies) either listed and/or domiciled in the United States of America, or established outside of the United States of America but carrying out a significant portion of their business activities in the United States of America.
      • The Fund will be actively managed. The Investment Manager will have full discretion in its choice of companies either by size or industry.
      • The Fund promotes environmental and social characteristics in line with Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR). The Fund will not invest in certain sectors or investments. Over time, the Investment Manager may, in accordance with the Fund’s investment policy, apply additional exclusions to be disclosed on the website, as they are implemented.
      Paul Vincent
      Paul is an analyst and portfolio manager in the Quality investment team at Ninety One. As...

      Performance & returns

      The value of investments, and any income generated from them, can fall as well as rise. If the currency shown differs from your home currency, returns may increase or decrease as a result of currency fluctuations. Investment objectives and performance targets may not necessarily be achieved, losses may be made. We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs. Where a shareclass has been in existence for less than 12 months, performance is not disclosed. No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. The Trailing Returns chart may use different Sector performance start dates compared to other performance charts or other marketing literature which may result in minor differences. Where a benchmark index is calculated on a monthly basis, the returns will be out of line with the fund and/or sector which are calculated daily.

      Key facts

      • Domicile

        Luxembourg
      • ISIN

        LU0345774631
      • Risk profile

        6
      • SEDOL

        B2PSZQ3
      • CUSIP

        L54481830
      • Bloomberg code

        GUIABCI LX
      • Benchmark

        S&P 500 Net Return (S&P 500 Total Return pre 01/01/1999)
      • Morningstar category sector

        US Large-Cap Growth Equity
      • Fund inception date

        26/11/1990
      • Share class inception date

        26/11/1990
      • Minimum investment

        USD3,000 / equivalent approved currency
      • Valuation point

        16:00 New York Time (forward pricing)

      Literature

      Portfolio & Holdings

      Date as of 31/05/2022
      Index
      Fund
      Information Technology
      27.1
      Communication Services
      8.8
      Health Care
      14.4
      Financials
      11.2
      Consumer Discretionary
      10.9
      Consumer Staples
      6.5
      Industrials
      7.8
      Energy
      4.8
      Materials
      2.8
      Real Estate
      2.8
      Other
      3.0
      Cash

      Charges

      Maximum initial charge %

      5.00

      Ongoing charge %

      1.92
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

      Specific fund risks

      Concentrated portfolio

      The portfolio invests in a relatively small number of individual holdings. This may mean wider fluctuations in value than more broadly invested portfolios.

      Derivatives

      The use of derivatives is not intended to increase the overall level of risk. However, the use of derivatives may still lead to large changes in value and includes the potential for large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

      Equity investment

      The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. insolvency), the owners of their equity rank last in terms of any financial payment from that company.

      Geographic / Sector

      Investments may be primarily concentrated in specific countries, geographical regions and/or industry sectors. This may mean that the resulting value may decrease whilst portfolios more broadly invested might grow.

      We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.

      All the information contained in this communication is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

      This communication is provided for general information only. It is not an invitation to make an investment nor does it constitute an offer for sale. The full documentation that should be considered before making an investment, including the Prospectus and Key Investor Information Documents, which set out the Fund specific risks, are available from Ninety One. This Fund should be considered as a long-term investment.

      Performance data source: © Morningstar, NAV based, (net of fees, excluding initial charges), total return, in the share class dealing currency. Performance would be lower had initial charges been included as an initial charge of up to 5% (10% for S shares) may be applied to your investment. This means that for an investment of $1,000, where the initial charge equals 5%, $950 ($900 for S shares) would actually be invested in the Fund. Returns to individual investors will vary in accordance with their personal tax status and tax domicile.

      Morningstar Analyst rating™: Copyright © 2022. Morningstar. All Rights Reserved. The information, data and opinions expressed and contained herein are proprietary to Morningstar and/or its content providers and are not intended to represent investment advice or recommendation to buy or sell any security; are not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this Rating, Rating Report or Information contained therein.

      The overall rating for a fund, often called the ‘star rating’, is a third party rating derived from a quantitative methodology that rates funds based on an enhanced Morningstar™ Risk-Adjusted Return measure. ‘Star ratings’ run from 1 star (lowest) to 5 stars (highest) and are reviewed at the end of every calendar month. The various funds are ranked by their Morningstar™ Risk-Adjusted Return scores and relevant stars are assigned. It is important to note that individual shareclasses of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the shareclass. In order to achieve a rating the share class of a fund must have a minimum three-year performance track record.

      For a full description of the ratings, please see our ratings guide. A rating is not a recommendation to buy, sell or hold a fund.

      The portfolio may change significantly over a short period of time. This is not a buy or sell recommendation for any particular security. Figures may not always sum to 100 due to rounding. 

      For an explanation of statistical terms, please see our glossary.