Offshore Funds (UCITS)

American Franchise

Morningstar Rating™

4

Latest NAV Price

45.06
26 October 2020

NAV daily change %

-2.00

Dealing currency

USD

Fund size

USD 136.33 M
30 September 2020

Latest NAV Price

45.06
26 October 2020

NAV daily change %

-2.00

Dealing currency

USD

Fund size

USD 136.33 M
30 September 2020

Objective

Investment objective summary

The Fund aims to achieve long-term capital growth primarily through investment in 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 unrestricted in its choice of companies either by size or industry. The Fund will focus investment on stocks deemed to be of high quality which are typically associated with strong brands or franchises.

Paul Vincent
Paul is an analyst and portfolio manager in the Quality investment team at Ninety One. As...

Performance & returns

10/26/2020
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

    6

  • ISIN

    LU0345774805

  • Bloomberg code

    INVAMEI

  • CUSIP

    L54481871

  • Benchmark

    S&P 500 Net Return (S&P 500 Total Return pre 01/01/1999)

  • Morningstar category sector

    US Large-Cap Blend Equity

  • Fund inception date

    11/26/1990

  • Share class inception date

    06/29/2007

  • Minimum investment

    USD1,000,000

  • Valuation & transaction cut-off

    16:00 New York Time (forward pricing)

Portfolio & Holdings

Date as of 09/30/2020
Index
Fund
Information Technology
28.2
Health Care
14.2
Financials
9.7
Communication Services
10.8
Consumer Discretionary
11.5
Consumer Staples
7.0
Energy
2.1
Industrials
8.3
Materials
2.6
Real Estate
2.6
Unclassified
0.1
Other
3.0
Cash

Charges

Maximum initial charge %

5.00

Ongoing charge %

1.04
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.

Distributions and Yields

Most recent distribution payments
Distribution amount
USD0.0465
Declaration Date
12/29/2017
Ex Distribution Date
01/02/2018
Payable Date
01/02/2018
Yield data as of 09/30/2020
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.

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