GSF Lux SICAV

Global Strategic Managed

Latest NAV Price

20.33
25 September 2020

NAV daily change %

0.35

Dealing currency

AUD

Fund size

AUD 1.40 B
28 August 2020

Latest NAV Price

20.33
25 September 2020

NAV daily change %

0.35

Dealing currency

AUD

Fund size

AUD 1.40 B
28 August 2020

Objective

Investment objective summary

  • The Fund aims to provide long-term income and capital growth.
      • The Fund invests around the world in a mix of different assets including bonds (contracts to repay borrowed money which typically pay interest at fixed times); money market instruments (tradable securities where money can be invested for short periods); the shares of companies; convertible securities (bonds which can typically be turned into company shares); and other funds (which may be managed by the Investment Manager, other companies in the same group as the Investment Manager or a third party).
      • Normally no more than 75% of the Fund is exposed, directly or indirectly, to the shares of companies.
      • The Fund may invest in other assets such as cash, other funds (which may be managed by the Investment Manager, other companies in the same group as the Investment Manager or a third party) and derivatives (financial contracts whose value is linked to the price of an underlying asset). Derivatives may be used for investment purposes (i.e. in order to achieve the Fund's investment objectives) or for efficient portfolio management purposes e.g. with the aim of either managing the Fund risks or reducing the costs of managing the Fund.
      Philip Saunders
      Portfolio Manager
      Iain Cunningham
      Portfolio Manager
      Michael Spinks
      Portfolio Manager

      Performance & returns

      25/09/2020
      The value of investments, and any income generated from them, can fall as well as rise. Past performance is not a reliable indicator of future results. 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 & Downloads

      • Domicile

        Luxembourg
      • Risk profile

        5
      • ISIN

        LU0996484902
      • SEDOL

        BH5MG89
      • CUSIP

        L5443V391
      • Bloomberg code

        IGGCIIA
      • Benchmark

        60% MSCI AC World Net Return, 40% FTSE WGBI
      • Morningstar category sector

        Other Allocation
      • Fund inception date

        06/02/1995
      • Share class inception date

        20/12/2013
      • Minimum investment

        USD3,000 / equivalent approved currency
      • Valuation & transaction cut-off

        16:00 New York Time (forward pricing)

      Portfolio & Holdings

      Date as of 31/08/2020
      Russian Federal Bond - OFZ 8.15 Feb 03 27
      1.7
      Indonesia Treasury Bond 7 Sep 15 30
      0.7
      South Africa Treasury Bill 8 Jan 31 30
      0.6
      Dell International LLC 6.02 Jun 15 26
      0.2
      Verizon Communications Inc 1.38013 May 15 25
      0.2
      UBS Group AG 4.253 Mar 23 28
      0.2
      Abn Amro Bank NV 4.4 Mar 27 28
      0.2
      Cooperatieve Centrale Raiffeis 3.75 Jul 21 26
      0.2
      JPMorgan Chase & Co 3.9 Jul 15 25
      0.2
      Anheuser-Busch Inbev Worldwide 4.75 Jan 23 29
      0.2

      Charges

      Maximum initial charge %

      3.00

      Ongoing charge %

      2.79
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

      Specific fund risks

      Charges from capital

      For Inc-2 and Inc-3 shares classes, expenses are charged to the capital account rather than to income, so capital will be reduced. This could constrain future capital and income growth. Income may be taxable.

      Currency exchange

      Changes in the relative values of different currencies may adversely affect the value of investments and any related income.

      Default

      There is a risk that the issuers of fixed income investments (e.g. bonds) may not be able to meet interest payments nor repay the money they have borrowed. The worse the credit quality of the issuer, the greater the risk of default and therefore investment loss.

      Derivatives

      The use of derivatives may increase overall risk by magnifying the effect of both gains and losses leading to large changes in value and potentially large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

      Emerging market (inc. China)

      These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

      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.

      Government securities exposure

      The Fund may invest more than 35% of its assets in securities issued or guaranteed by a permitted sovereign entity, as defined in the definitions section of the Fund’s prospectus.

      Interest rate differential

      This share class is intended for investors whose currency of investment matches that of the share class. Investors whose currency of investment is different, should be aware of the foreign exchange risk that is created.

      Interest rate

      The value of fixed income investments (e.g. bonds) tends to decrease when interest rates rise.

      Distributions & Yields

      Most recent distribution payments
      Distribution amount
      AUD0.0243
      Declaration Date
      28 August 2020
      Ex-distribution date
      01 September 2020
      Payable date
      15 September 2020
      Yield data as of 31/08/2020
      Yield %
      1.98
      Adjusted yield %
      0.00

      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 © 2020. 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.