Objective and investment policy
Objective
The fund aims to provide a combination of capital growth and income to deliver a return that is higher than that of the MSCI ACWI Index over any five-year period.
Investment policy and strategy
Core investment: At least 80% of the fund is invested in the shares of companies, across any sector and of any size, from anywhere in the world, including emerging markets.
Other investments: The fund may invest in other funds and cash or assets that can be turned quickly into cash.
Derivatives: The fund may use derivatives to reduce the risks and costs of managing the fund.
Strategy in brief: The investment process involves the identification of ‘themes’ arising from changes within economies, industries and societies that happen over time and finding companies that can take advantage of them. Themes are identified through the analysis of global macroeconomics, demographics, government policies and spending, and technological innovation, among other considerations.
The fund manager then selects stocks that can benefit from these themes based on the companies’ quality, growth prospects and valuation.
Benchmark:
MSCI ACWI Index
The benchmark is a target which the fund seeks to outperform. The index has been chosen as the fund’s benchmark as it best reflects the scope of the fund’s investment policy. The benchmark is used solely to measure the fund’s performance and does not constrain the fund's portfolio construction.
The fund is actively managed. The fund manager has complete freedom in choosing which investments to buy, hold and sell in the fund. The fund’s holdings may deviate significantly from the benchmark’s constituents.
For unhedged and hedged share classes, the benchmark is shown in the share class currency.
You can find more information about the objective and investment policy of the fund in the Prospectus.
Risks associated with the fund
The value and income from the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise. There is no guarantee that the fund will achieve its objective and you may get back less than you originally invested.
The fund can be exposed to different currencies. Movements in currency exchange rates may adversely affect the value of your investment.
In exceptional circumstances where assets cannot be fairly valued, or have to be sold at a large discount to raise cash, we may temporarily suspend the fund in the best interest of all investors.
The fund could lose money if a counterparty with which it does business becomes unwilling or unable to repay money owed to the fund.
Further details of the risks that apply to the fund can be found in the fund's Prospectus.
Other information
The fund invests mainly in company shares and is therefore likely to experience larger price fluctuations than funds that invest in bonds and/or cash.
The performance webpage for this fund is currently being reconfigured.
Ratings
Rating is at a share class level
Ratings as at 28/02/2020. The Morningstar Overall Rating. Copyright © 2019 Morningstar UK Limited. All Rights Reserved. The Morningstar Analyst Rating™. © 2019 Morningstar. All Rights Reserved. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Ratings should not be taken as recommendation.