Invesco WS Global Opportunities-Hedged A Performance Review | News

What is the Invesco WS Global Opportunities-Hedged A fund?

Invesco Wholesale Global Opportunities Fund aims to provide long-term capital growth through a portfolio of global equities. The Fund invests in global equity securities listed in developed or developing markets that generally have a minimum market capitalisation of US $1 billion.

Active and research driven investment approach.
The underlying portfolio generally holds between 30 and 50 stocks.
Look to identify significantly undervalued companies, companies with attractive valuations, strong franchises and management that is focused on disciplined capital allocation.
It is permitted to borrow and to grant security over its assets, and it is primarily invests in global shares.

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Growth of $1000 Investment Over Time

Performance Report

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Latest News & Updates For Invesco WS Global Opportunities-Hedged A

Invesco WS Global Opportunities-Hedged A Fund Commentary September 30, 2023

The Global Opportunities Fund declined in value but outperformed the MSCI AC World index over the month. Information technology was a top contributor for the fund alongside industrials and financials whilst energy, communication services, and health care lagged for the fund.

The top performing stocks in the portfolio were Relx, Progressive, 3I Group, UnitedHealth, and Dollarama. Online marketplace Dollarama saw its share price rise in September after the company posted Q2 profits that surpassed expectations and it boosted its same-store sales forecast for the year. Union Pacific, Home Depot, Danaher, and Thermo Fisher were among the detractors in September.

READ HISTORICAL PERFORMANCE COMMENTARIES

Product Snapshot

Product Overview
Performance Review
Peer Comparison
Product Details

Product Overview

Fund Name	APIR Code ? A Product Code is unique a identifier code issued by a group or governing body, to reference products in a large group. For an example, APIR codes are commonly used for Funds and Ticker codes are commonly used for Securities such as ETFs and Stocks.	Structure ?	Asset Class ? An Asset Class breakdown provides the percentages of core asset classes found within a mutual fund, exchange-traded fund, or another portfolio. Asset classes (in microeconomics and beyond) generally refer to broad categories such as equities, fixed income, and commodities.	Asset Category ? An Asset Category is a grouping of investments that exhibit similar characteristics and are subject to the same laws and regulations. Asset categories (or a sub-asset class) are made up of instruments which often behave similarly to one another in the marketplace, looking down to the Asset Category level is important if looking to build a diversified portfolio.	Peer Benchmark Name ? A Peer Index (benchmark) refers to a peer group of investment managers who have the same investment style or category. It is used to compare the performance of one manager to their peer group, which makes it simpler for investors to choose between the vast number of investment managers.	Broad Market Index ? A Market Index (benchmark) refers to a hypothetical portfolio of investments that represents a segment, asset or category of an investable market. Market Indices are used to benchmark managers performance, to assist their style reliability and ability to provide excess returns.	FUM ? Funds/Assets under management (AUM) is the total market value of the investments that a person or entity manages on behalf of clients. Assets under management definitions and formulas vary by company.	Management Fee ? A management fee is a charge levied by an investment manager for managing an investment fund. The management fee is intended to compensate the managers for their time and expertise for selecting finanical products and managing the portfolio.	Performance Fee ? A performance fee is a payment made to an investment manager for generating positive returns. This is as opposed to a management fee, which is charged without regard to returns. A performance fee can be calculated many ways. Most common is as a percentage of investment profits, often both realized and unrealized. It is largely a feature of the hedge fund industry, where performance fees have made many hedge fund managers among the wealthiest people in the world.	Spread ? A spread can have several meanings in finance. Basically, however, they all refer to the difference between two prices, rates or yields. In one of the most common definitions, the spread is the gap between the bid and the ask prices of a security or asset, like a stock, bond or commodity. This is known as a bid-ask spread.
Invesco WS Global Opportunities-Hedged A	GTU0008AU	Managed Funds	Foreign Equity	Currency Hedged	Foreign Equity - Currency Hedged Index	Developed -World Index	36.13 M	0.95%	0.00%	0.5%

Performance Review

Fund Name	Last Month ? Returns after fees in the most recent (last) month).	3 Months Return ? Returns after fees in the most recent 3 months.	1 Year Return ? Trailing 12 month returns.	3 Years Average Return ? Average Annual returns from the last 3 years.	Since Inc. Average Return ? Average (annualised) returns since inception	1 Year Std. Dev. (Annual) ? The standard deviation (or annual volatility) of the last 12 months.	3 Years Std. Dev. (Annual) ? The average standard deviation (or annual volatility) from the last 3 years.	Since Inc. Std. Dev. (Annual) ? The average standard deviation (or annual volatility) since the fund inception.	1 Year Max Drawdown ? The maximum drawdown in the last 12 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	3 Year Max Drawdown ? The maximum drawdown in the last 36 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.	Since Inc. Max Drawdown ? The maximum drawdown since inception - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
Invesco WS Global Opportunities-Hedged A	1.15%	5.48%	31.49%	10.86%	5.25%	9.86%	16.42%	15.78%	-2.95%	-25.42%	-57.65%

Peer Comparison

Fund Name	Peer Index Name ? A group of individuals who share similar characteristics and interests are called peer groups. Peer group analysis is an essential part of assessing a price for a particular stock in investment research. The emphasis here is on making a comparison, meaning that the peer group constituents should be more or less identical to the company being examined, especially in terms of their main business and market capitalization areas.	12 Months Excess Return ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	Excess Return Annualised Since Inception ? Excess returns are an important metric that helps an investor to gauge performance in comparison to other investment alternatives. In general, all investors hope for positive excess return because it provides an investor with more money than they could have achieved by investing elsewhere.	12 Months Alpha ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market return over 12 months. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	Alpha Annualised Since Inception ? Alpha is used in finance as a measure of performance, indicating when a strategy, trader, or portfolio manager has managed to beat the market annualized since inception. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index or benchmark that is considered to represent the market’s movement as a whole.	12 Months Beta ? Rolling 12Month Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	Beta Annualised Since Inception ? Beta is a measure of the volatility—or systematic risk—of a security or portfolio compared to the market as a whole. Beta is used in the capital asset pricing model (CAPM), which describes the relationship between systematic risk and expected return for assets (usually stocks).	12 Months Tracking Error ? 12Month Tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark over the last 12 months. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	Tracking Error Since Inception ? Since Inception tracking error is the difference in actual performance between a position (usually an entire portfolio) and its corresponding benchmark since inception. The tracking error can be viewed as an indicator of how actively a fund is managed and its corresponding risk level. Evaluating a past tracking error of a portfolio manager may provide insight into the level of benchmark risk control the manager may demonstrate in the future.	12 Months Correlation ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.	Correlation Since Inception ? Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio management, computed as the correlation coefficient, which has a value that must fall between -1.0 and +1.0.
Invesco WS Global Opportunities-Hedged A	Foreign Equity - Currency Hedged Index	5.51%	-0.77%	NA%	NA%	NA%	1.01	2.92%	4.56%	0.96	0.96

Product Details

Fund Name	Verifed by SMSF Mates	Manager Address	Phone	Website	Email
Invesco WS Global Opportunities-Hedged A	Yes		-	https://www.invesco.com.au/home	-

Product Due Diligence

What is Invesco WS Global Opportunities-Hedged A

Invesco WS Global Opportunities-Hedged A is an Managed Funds investment product that is benchmarked against Developed -World Index and sits inside the Foreign Equity - Currency Hedged Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The Invesco WS Global Opportunities-Hedged A has Assets Under Management of 36.13 M with a management fee of 0.95%, a performance fee of 0.00% and a buy/sell spread fee of 0.5%.

How has the investment product performed recently?

The recent investment performance of the investment product shows that the Invesco WS Global Opportunities-Hedged A has returned 1.15% in the last month. The previous three years have returned 10.86% annualised and 15.78% each year since inception, which is when the Invesco WS Global Opportunities-Hedged A first started.

How is risk measured in this investment product?

There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since Invesco WS Global Opportunities-Hedged A first started, the Sharpe ratio is NA with an annualised volatility of 15.78%. The maximum drawdown of the investment product in the last 12 months is -2.95% and -57.65% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.

What is the relative performance of the investment product?

Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The Invesco WS Global Opportunities-Hedged A has a 12-month excess return when compared to the Foreign Equity - Currency Hedged Index of 5.51% and -0.77% since inception.

Does the investment product produce Alpha over its Peers?

Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. Invesco WS Global Opportunities-Hedged A has produced Alpha over the Foreign Equity - Currency Hedged Index of NA% in the last 12 months and NA% since inception.

What are similar investment products?

For a full list of investment products in the Foreign Equity - Currency Hedged Index category, you can click here for the Peer Investment Report.

What level of diversification will Invesco WS Global Opportunities-Hedged A provide?

Invesco WS Global Opportunities-Hedged A has a correlation coefficient of 0.96 and a beta of 1.01 when compared to the Foreign Equity - Currency Hedged Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.

How do I compare the investment product with its peers?

For a full quantitative report on Invesco WS Global Opportunities-Hedged A and its peer investments, you can click here for the Peer Investment Report.

How do I compare the Invesco WS Global Opportunities-Hedged A with the Developed -World Index?

For a full quantitative report on Invesco WS Global Opportunities-Hedged A compared to the Developed -World Index, you can click here.

Can I sort and compare the Invesco WS Global Opportunities-Hedged A to do my own analysis?

To sort and compare the Invesco WS Global Opportunities-Hedged A financial metrics, please refer to the table above.

Has the Invesco WS Global Opportunities-Hedged A been independently verified by SMSF Mate?

This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.

How can I invest in Invesco WS Global Opportunities-Hedged A?

If you or your self managed super fund would like to invest in the Invesco WS Global Opportunities-Hedged A please contact via phone or via email .

How do I get in contact with the Invesco WS Global Opportunities-Hedged A?

If you would like to get in contact with the Invesco WS Global Opportunities-Hedged A manager, please call .

Comments from SMSF Mates

SMSF Mate does not receive commissions or kickbacks from the Invesco WS Global Opportunities-Hedged A. All data and commentary for this fund is provided free of charge for our readers general information.

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Historical Performance Commentary

Performance Commentary - August 31, 2023

The Global Opportunities fund outperformed the benchmark over the month.

Financials were a top contributor to the fund’s relative performance alongside consumer discretionary and industrials, whilst health care and energy lagged.

The top performing stocks in the portfolio were Progressive, Danaher, Berkshire Hathaway and Mastercard. Progressive shares rose after Analysts said the company’s month-to-month results showed improvements.

The biggest detractors in the portfolio included Texas instruments, UnitedHealth and American Express.

Performance Commentary - June 30, 2023

The Global Opportunities in Australia fund rose in value but underperformed the MSCI AC World index over the month.

The top performing stocks in the portfolio were Old Dominion Freight Line, Netease, Amphenol and American Express. Old Dominion Freight Line rose in June alongside other transportation names as the Dow Jones Transportation Average rose by double digits in June on the back of optimism about the US economy.

The biggest detractors for the portfolio in June were Kotak Mahindra Bank, Nestle and Samsung Electronics.

Kotak Mahindra Bank dropped the most in 12 months as traders took profits following the increase in it weighting in the MSCI indices. Kotak Mahindra Bank had performed well throughout April and May amid anticipation of this increase.

Performance Commentary - May 31, 2023

The Global Opportunities in Australia fund rose in value and outperformed the MSCI AC World index over the month.

3i Group was the best performing holding due to the fund being overweight relative to the benchmark. 3i shares have been gaining since March when it announced that its largest portfolio holding company (Action) had a great start to 2023 leading many analysts to suggest that 3i’s portfolio is robust. Other strong performers that the fund included Samsung Electronics and Copart. Copart rose on news that the company had beat its revenue expectations and that the company had a positive outlook going forward.

As a result of investor optimism around AI and its potential, Nvidia was the biggest detractor, this was largely because the fund was underweight relative to the benchmark. The stock performed extremely strongly on the back of good quarterly results and upgraded medium term profit guidance. Other detractors included Nestle, EOG Resources and Berkley Group. Nestle shares declined after the surprise departure of CFO Francois-Xavier which left investors ‘disappointed’ given the fact that Roger had built an ‘effective partnership’ with Nestle CEO Mark Schneider.

Performance Commentary - April 30, 2023

The Global Opportunities in Australia fund rose in value and outperformed the MSCI AC World index over the month on unhedged basis.

Kotak Mahindra Bank was the best performing holding on a relative basis, supported by a combination of good 4Q22 results and the broader rally in Indian stocks. Other strong performers included Berkshire Hathaway and Nestle. Berkshire was boosted by the release of strong earnings from some of its key underlying holdings. Similarly, Nestle’s Q1 results were better than consensus estimates and surprised on the upside. Elsewhere, not owning Tesla was also highly favourable to relative performance as the stock fell sharply following further price cuts to its EV models.

At the other end, Texas Instruments was one of the most notable detractors. The company’s Q1 results were mostly in line with estimates but the forward guidance was slightly below consensus expectations which saw the share price come under pressure.

Performance Commentary - March 31, 2023

The Global Opportunities fund in Australia outperformed the MSCI AC World index over the month.

From a geographic perspective, the US was the fund’s biggest driver of relative performance, led by Microsoft and Texas Instruments which rose as part of the broader rally in tech stocks.

China was also a strong area for the fund where NetEase was a key contributor. The stock was boosted by an analyst upgrade and strong China PMI data. The latter of which also supported stocks such as Tencent. The UK was also a bright spot for the fund, with Relx and 3i being the main drivers.

Sector-wise, relative gains were driven by financials and information technology, while consumer staples also performed well. Moderate weakness came from the fund’s health care names as defensives lagged the broader market rally in what was largely a ‘risk on’ month.

Performance Commentary - January 31, 2023

The Global Opportunities in Australia fund rose in value and outperformed the MSCI AC World index over the month.

From a geographic perspective, Asia Pacific was the biggest area of strength for the fund. China was the key contributor, as our gaming and internet holdings NetEase and Tencent took support from the easing regulatory environment. Our US holdings also aided relative performance, led by American Express and Nvidia. AmEx notably advanced after reporting strong 4Q earnings and an optimistic 2023 forecast, while the semiconductor manufacturer was buoyed by a broader chip rally. 3i, the London-based private equity company, was behind the strength in the fund’s UK holdings, following a significant 3Q earnings beat.

Sector-wise, healthcare was the fund’s biggest contributor to relative gains this was down to our significant underweight in what was the market’s weakest absolute performer over the month. Industrials closely followed, in particular driven by Ryanair after the airline operator boosted its full-year profit forecast following strongerthan-expect demand over Christmas. The consumer staples name, L’Or al, jumped amid a broader rally of France’s luxury stocks on softer-than-expected inflation and China optimism. However, further gains were held back by our underweight consumer discretionary which outperformed in January, and our materials names modestly lagged.

Performance Commentary - December 31, 2022

The Global Opportunities Fund in Australia fell in value but outperformed the MSCI AC World index over the month.

From a geographic perspective, most relative gains came from the portfolio’s heavyweight, the US. The largest contributor was not owning Tesla, whose share price fell further on a report of plans to temporarily halt production at its China factory, rekindling fears around demand risks. Our smaller holding in Apple relative to the benchmark was also a bright spot, as supply chain and demand issues worried investors. The fund’s overweight in the UK also buoyed performance, with 3i Group, the London-based private equity company, the key contributor. After a strong month, having no exposure to Japanese equities was the fund’s main detraction to performance.

Strong stock selection namely the omission of Tesla from the portfolio drove the outperformance of the fund’s consumer discretionary sector. The two Chinese gaming companies, Tencent and NetEase, were behind the strength in our communication services holdings, both rallying amid Beijing’s latest monthly game approvals and new regulatory shift. Our underweight in health care dragged on relative gains, however.

Invesco WS Global Opportunities-Hedged A (GTU0008AU) Report & Performance