The Fund aims to provide long-term capital growth primarily through investment in shares of companies around the world that are believed to offer above average opportunities for capital gains.
Fund features
A high conviction fund focusing on companies undergoing change
Dan Hanbury
Portfolio Manager
Dan is a portfolio manager in the 4Factor team at Ninety One, and is based in...
Ben Lambert
Portfolio Manager
Ben is a portfolio manager in Ninety One’s 4Factor team and is based in London. He...
Investment objective summary
The Fund aims to provide long-term capital growth primarily through investment in shares of companies around the world that are believed to offer above average opportunities for capital gains.
Fund features
A high conviction fund focusing on companies undergoing change
Dan Hanbury
Portfolio Manager
Dan is a portfolio manager in the 4Factor team at Ninety One, and is based in London. He co-manages the Global Strategic Equity strategy.
Prior to joining the firm, Dan was founding partner and portfolio manager at River and Mercantile Group (R&M) and was responsible for managing a of range of portfolios, including the UK Core and Income portfolios. He worked at R&M between 2006 and 2022.
Before River and Mercantile Group, Dan was a portfolio manager at Investec Asset Management (now Ninety One) between 2000 and 2006, and was responsible for the UK High Alpha and UK Smaller Companies Funds. He was also a Global Industrials and Resources analyst. Dan began his career at Schroders on their Pan-European Capital Goods Team in 1996.
Dan graduated from Loughborough University with a first class degree in Mechanical Engineering and is a member of the CFA® Institute.
Ben Lambert
Portfolio Manager
Ben is a portfolio manager in Ninety One’s 4Factor team and is based in London. He co-manages the European Equity, International Equity, and Global Strategic Equity strategies.
Prior to joining the firm Ben was a senior portfolio manager responsible for Europe/Sustainable Equity at Canada Pension Plan Investment Board (CPPIB) where he developed and co-managed the plan’s European equity allocation. In 2018/19 Ben also took on the role of Head of Sustainable Investing overseeing and implementing transformative changes to the plan’s ESG approach. Most recently, Ben was portfolio manager for a dedicated sustainable equity strategy where he built up an impressive track record over the last three years.
Before CPPIB, Ben was a portfolio manager at Och-Ziff Capital Management and with Odey Asset Management.
Ben graduated from Bristol University with a Bachelor’s degree in Politics and French.
Top & bottom region weightings vs comparative index (%)
Top & bottom sector weightings vs comparative index (%)
Top & bottom stock weightings vs comparative index (%)
Top holdings (%)
Portfolio statistics
Fund
Index
United States
65.1
Europe ex UK
18.9
Emerging Markets
6.5
United Kingdom
3.9
Japan
2.4
Far East ex Japan
1.2
Other
0.9
Cash
1.1
Geographic breakdown (%)
United States
Fund: 65.1%
Index: 63.5%
Europe ex UK
Fund: 18.9%
Index: 10.7%
Emerging Markets
Fund: 6.5%
Index: 12.3%
United Kingdom
Fund: 3.9%
Index: 3.1%
Japan
Fund: 2.4%
Index: 5%
Far East ex Japan
Fund: 1.2%
Index: 2.2%
Other
Fund: 0.9%
Index: 3.2%
Cash
Fund: 1.1%
Index: 0%
Sector breakdown (%)
Information Technology
Fund: 29.3%
Index: 32.2%
Industrials
Fund: 15.1%
Index: 10.7%
Financials
Fund: 12.8%
Index: 15.6%
Communication Services
Fund: 9%
Index: 8.4%
Health Care
Fund: 7.9%
Index: 7.8%
Consumer Staples
Fund: 6.9%
Index: 4.7%
Consumer Discretionary
Fund: 5.9%
Index: 9.1%
Energy
Fund: 4.3%
Index: 3.7%
Utilities
Fund: 3.9%
Index: 2.4%
Materials
Fund: 3.8%
Index: 3.7%
Other
Fund: 0%
Index: 1.6%
Cash
Fund: 1.1%
Index: 0%
Top & bottom region weightings vs comparative index (%)
Netherlands
2.6%
United States
1.7%
Italy
1.7%
China
1.5%
Spain
1.4%
India
-1.3%
Australia
-1.4%
Canada
-2.1%
Japan
-2.6%
South Korea
-2.8%
Top & bottom sector weightings vs comparative index (%)
Household & Personal Products
4%
Technology Hardware & Equipment
3.6%
Capital Goods
3.4%
Utilities
1.5%
Health Care Equipment & Services
1.4%
Consumer Staples Distribution & Retail
-1.5%
Software & Services
-1.6%
Automobiles & Components
-1.8%
Financial Services
-2.7%
Semiconductors & Semiconductor Equipment
-4.9%
Top & bottom stock weightings vs comparative index (%)
Dell Technologies Inc
4.6%
Contemporary Amperex Technology Co Ltd
2.6%
Td Synnex Corp
2.5%
Colgate-Palmolive Company
2.3%
Rolls-Royce Holdings Plc
2.2%
Micron Technology Inc
-1.1%
Samsung Electronics Co Ltd
-1.1%
Tesla Inc
-1.2%
Meta Platforms Inc
-1.3%
Broadcom Inc
-1.9%
Top holdings (%)
NVIDIA Corp
6.6%
Alphabet Inc
5.5%
Apple Inc
5.5%
Dell Technologies Inc
4.8%
Microsoft Corp
4.2%
Amazon.com Inc
3.9%
Eli Lilly & Co
2.6%
Contemporary Amperex Technology Co Ltd
2.6%
Taiwan Semicondu
2.6%
Td Synnex Corp
2.5%
Portfolio statistics
Number of equity holdings: 53
Distributions & yields
Distribution & yields
Distribution per unit
Important information
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The Fund invests primarily in shares of companies around the world that are believed to offer above average opportunities for capital gains. Equity investments could be volatile and subject to high risk of loss. The Fund invests in emerging markets which can be more volatile and less liquid than developed markets and subject to additional risk arising from unstable social, political & economic environment.
The Fund may use derivatives for hedging and/or efficient portfolio management purposes and may be exposed to significant risk of loss when the use becomes ineffective.
Reference Currency Hedged Share Class may be subject to risks arising from uncertainty in interest rate and foreign exchange.
In adverse situations, the Fund may suffer significant losses. It is possible that the original amount you invested could be lost.
Investors should not solely rely on this document to make investment decisions.