Legg Mason QS Investors Global Equity A aims to earn an after-fee return in excess of the Benchmark (MSCI World Index (ex Australia) in AUD) over rolling three-year periods.
The Fund fell –2.89% in September, ahead of the benchmark which fell –3.05%. The Fund was up 3.09% over the quarter. Stock selection detracted value for the quarter; the selection effects in the U.S. was the main detractor. Selection within the U.S. was particularly weak in the Consumer Discretionary and Information Technology sectors. Selection was also negative in Japan, New Zealand and Asia Developed ex Japan regions. Selection effects were strong in the Continental Europe and the U.K. regions. Across sectors, selection was weak in Industrials and Information Technology, but notably positive in the Materials sector.
At quarter end, the Fund was attractively valued with a lower 12-month forward PE than the benchmark. The Fund was well diversified across regions and sectors. The largest region overweight was to the U.S., and the largest underweight was in the New Zealand & Canada region. The Fund was most overweight in Industrials and most underweight in Information Technology
What is Legg Mason QS Investors Global Equity A Legg Mason QS Investors Global Equity A is an Managed Funds investment product that is benchmarked against Developed -World Index and sits inside the Foreign Equity - Large Quantitative 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 Legg Mason QS Investors Global Equity A has Assets Under Management of 52.13 M with a management fee of 0.75%, a performance fee of 0.00% and a buy/sell spread fee of 0.25%.
How has the investment product performed recently?
The recent investment performance of the investment product shows that the Legg Mason QS Investors Global Equity A has returned -0.06% in the last month. The previous three years have returned 12.88% annualised and 12.37% each year since inception, which is when the Legg Mason QS Investors Global Equity 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 Legg Mason QS Investors Global Equity A first started, the Sharpe ratio is NA with an annualised volatility of 12.37%. The maximum drawdown of the investment product in the last 12 months is -3.84% and -55.03% 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 Legg Mason QS Investors Global Equity A has a 12-month excess return when compared to the Foreign Equity - Large Quantitative Index of 3.16% and 0.16% 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. Legg Mason QS Investors Global Equity A has produced Alpha over the Foreign Equity - Large Quantitative 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 - Large Quantitative Index category, you can click here for the Peer Investment Report.
What level of diversification will Legg Mason QS Investors Global Equity A provide?
Legg Mason QS Investors Global Equity A has a correlation coefficient of 0.98 and a beta of 1.16 when compared to the Foreign Equity - Large Quantitative 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 Legg Mason QS Investors Global Equity A and its peer investments, you can click here for the Peer Investment Report.
How do I compare the Legg Mason QS Investors Global Equity A with the Developed -World Index?
For a full quantitative report on Legg Mason QS Investors Global Equity A compared to the Developed -World Index, you can click here.
Can I sort and compare the Legg Mason QS Investors Global Equity A to do my own analysis?
To sort and compare the Legg Mason QS Investors Global Equity A financial metrics, please refer to the table above.
Has the Legg Mason QS Investors Global Equity 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 Legg Mason QS Investors Global Equity A?
How do I get in contact with the Legg Mason QS Investors Global Equity A?
Comments from SMSF Mates
SMSF Mate does not receive commissions or kickbacks from the Legg Mason QS Investors Global Equity A. All data and commentary for this fund is provided free of charge for our readers general information.
Performance Commentary - September 30, 2021 The Fund fell –2.89% in September, ahead of the benchmark which fell –3.05%. The Fund was up 3.09% over the quarter. Stock selection detracted value for the quarter; the selection effects in the U.S. was the main detractor. Selection within the U.S. was particularly weak in the Consumer Discretionary and Information Technology sectors. Selection was also negative in Japan, New Zealand and Asia Developed ex Japan regions. Selection effects were strong in the Continental Europe and the U.K. regions.
Across sectors, selection was weak in Industrials and Information Technology, but notably positive in the Materials sector. At quarter end, the Fund was attractively valued with a lower 12-month forward PE than the benchmark. The Fund was well diversified across regions and sectors. The largest region overweight was to the U.S., and the largest underweight was in the New Zealand & Canada region. The Fund was most overweight in Industrials and most underweight in Information Technology.
Performance Commentary - June 30, 2021 The Fund returned 3.68% in June, net of fees. Stock selection detracted value for the month; the selection effects in the U.S. were the main detractor. Selection within the U.S. region was the main reason for underperformance, particularly in the Information Technology, Communication Services, and Financials ex
Banks sectors. Selection was also negative in the New Zealand and Canada, Continental Europe, and the U.K. regions. Across sectors, selection was weak in Information Technology, Financials ex Banks, and Health Care. The impact of region/sector allocations was effectively neutral. At month end, the Fund was attractively valued with a lower 12-month forward PE than the benchmark. The Fund was well diversified across regions and sectors. The largest region overweight was to the U.K., and the largest underweight was in New Zealand and Canada region. The Fund was most overweight in Industrials and most underweight in Utilities..
Performance Commentary - May 31, 2021 The MSCI World ex-Australia Index returned 1.2% in May in Australian dollar terms. Markets generally rose on signs of continued economic recovery in the U.S., China and elsewhere. However, paired with this economic growth were concerns over inflation, which sparked volatility throughout the month. Whether recent inflation would be persistent or transitory was top of mind for investors as they attempted to gauge fiscal and monetary policy responses. U.S. Treasury yields decreased, but these moves were small relative to the volatility observed year-to-date; the 10-Year Treasury yield fell from 1.63 to 1.60 over the course of the month. The U.S. dollar depreciated against most major currencies, decreasing 1.6% (Dollar Index Spot). Gold rose 7.6% (AUD). The price of Crude oil (WTI) increased 4.3% (AUD), exceeding recent March highs, helped by a weaker dollar and strong demand. The top performing sectors were Banks, Energy and Materials, with returns of 5.8%, 5.1% and 4.3%, respectively. The worst performers were Consumer Discretionary, Information Technology and Utilities, returning -1.4%, -1.2% and -0.9%, respectively.
The Fund outperformed the benchmark in May, returning 2.21% net of fees. Stock selection added value for the month; the selection effects in the U.S. and Continental Europe led the way. Selection within the U.S. region was the main reason for outperformance, particularly in the Consumer Discretionary and Information Technology sectors. Selection was also positive in developed Asia ex Japan, but detracted modestly in Japan and had minimal impact in the U.K. Across sectors, selection was strong in Information Technology, Consumer Discretionary and Industrials. The impact of region/sector allocations was effectively neutral.
Performance Commentary - December 31, 2020 The Fund was down –0.6% for the month and rose 4.9% for the quarter. Stock selection detracted moderate value for the month leading to the underperformance, the selection effects were mixed across regions. Selection within the U.S. region was the main reason for underperformance, particularly in the Consumer Discretionary and Health Care sectors which detracted notably. Selection was also negative in Japan, but positive across Continental Europe, the U.K., New Zealand & Canada, and Asia Developed ex Japan regions.
Across sectors, selection was negative in Consumer Discretionary and Health Care, selection in Information Technology, Banks, and Energy was strong. The impact of region/sector allocations was muted. Stock selection was the leading detractor for the quarter, it was especially poor in Japan and the U.S. In Japan selection was particularly weak in Industrials, Materials, and Utilities. in the U.S. poor selection effects were driven by the Consumer Discretionary sector. Selection was positive in the U.K., Continental Europe, and New Zealand & Canada regions. Allocation effects across regions were negative.
Within sectors, selection in Consumer Discretionary and Industrials detracted value. At month end and quarter end, the Fund was attractively valued with a lower 12-month forward PE than the benchmark. The Fund was well diversified across regions and sectors. The largest region overweight was to the U.K., and the largest underweight was in the Continental Europe region. The Fund was most overweight in Banks and most underweight in Real Estate.
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