Russell International Shares A is an Managed Funds investment product that is benchmarked against Developed -World Index and sits inside the Foreign Equity - Large Multi-Manager 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 Russell International Shares A has Assets Under Management of 695.15 M with a management fee of 0.98%, a performance fee of 0 and a buy/sell spread fee of 0.25%.
The Russell Investments International Shares Fund outperformed the benchmark in August.
A material overweight to the strong-performing emerging markets space contributed positively to performance over the period. Stock selection within the sector also added value, including an overweight to Argentine e-commerce platform MercadoLibre and short positions in China’s Tencent and Taiwan Semiconductor Manufacturing Co. Stock selection in Continental Europe added further value in August; notably overweights to Swiss bank UBS and Danish multinational pharmaceutical company Novo Nordisk A/S. Both stocks made very strong gains for the month. Novo Nordisk in particular climbed almost 20%, which saw it overtake French luxury group LVMH Moët Hennessy Louis Vuitton as Europe’s most valuable company. Other notable positions to add value were underweights to Japan’s Sony Group and UK pharmaceutical firm AstraZeneca. In contrast, stock selection in the US detracted from overall performance in August, including underweights to strong-performing names like Eli Lilly & Co., chip maker NVIDIA and e-commerce platform Amazon.com. Other US positions to impact returns were overweights to Meta Platforms (formerly Facebook) and Microsoft. Stock selection in Australia also weighed on performance over the period, albeit modestly. This included overweights to Telstra and national carrier Qantas. Other key holdings to impact returns were overweights to Japanese electronics company Keyence Corp. and German car makers Bayerische Motoren Werke AG (BMW) and Mercedes-Benz Group A/G.
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