Pendal Concentrated Global Share Hedged aims to provide a return (before fees, costs and taxes) that exceeds the MSCI World ex Australia (Standard) Index (Net Dividends) hedged to AUD over the medium to long term.
The Fund is designed for investors who want the potential for long term capital growth from a concentrated portfolio of global shares, diversified across a broad range of global sharemarkets and are prepared to accept higher variability of returns. The Fund invests in global companies that offer attractive investment opportunities predominately in markets such as the USA, UK, Continental Europe, Asia and Japan. The Fund may also hold cash and use derivatives.
Pendal’s investment process for global shares aims to add value through active stock selection and fundamental company research. Pendal focuses on identifying a company’s long term value and potential risk reward opportunity and is benchmark agnostic. Our high conviction approach to the Fund’s investments seeks to invest in companies that are out of favour, considered to be undervalued in the near term and offer long term capital growth. The Fund will typically hold between 35-55 stocks
What is Pendal Concentrated Global Share Hedged Pendal Concentrated Global Share Hedged 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 Pendal Concentrated Global Share Hedged has Assets Under Management of 55.61 M with a management fee of 0.9%, a performance fee of 0.00% and a buy/sell spread fee of 0.4%.
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Performance Commentary - December 31, 2020 The Fund outperformed in the December quarter. The appreciation of the AUD against the USD also contributed to the fund’s performance over the quarter. The quarter rounded off a tumultuous year which concluded with the approval, and the initial batches of COVID 19 vaccine being administered, a Biden victory in the US elections, further US fiscal stimulus and the signing of the BREXIT trade deal.
Markets ended the year on their highs, despite record numbers of COVID cases being recorded globally and with the outcome of the US Senate elections yet to be decided. It appears likely that many forms of restrictions will remain in place globally until a vaccination has been widely distributed and efficacy is certain. As a consequence, we expect operating conditions for many companies to remain challenging for some time. We continue to focus on owning the companies we know can survive the pandemic, and prosper post pandemic.
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