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The Multi-Manager global equity strategy has four underlying managers WCM Investment Management, Royal London Asset Management, Nikko Asset Management Europe Ltd and JP Morgan Asset Management. These managers select companies from around the world covering a diverse range of regions and sectors. The appointed global managers are responsible for the investment management of the assets. The multi-manager global equity strategy managed by Yarra Capital Management.
This fund combines four underlying managers WCM Investment Management, Royal London Asset Management, Nikko Asset Management Europe Ltd and JP Morgan Asset Management. Each manager selects companies from around the world covering a diverse range of regions and sectors based on their own investment process. The result is a portfolio that holds around 150-170 companies. The multi-manager global equity strategy is managed by Yarra Capital Management.
Risk Indicator (volatility)
Target Asset Allocation
This number indicates the relative 'risk' level of this fund based on the types of assets it is invested in, ranging from level 1 (least risky) to 7 (most risky).
| Risk category | Description of volatility |
| 1 | Very low |
| 2 | Low |
| 3 | Medium |
| 4 | Medium to High |
| 5 | High |
| 6 | Very high |
| 7 | Extremely high |
The risk indicators are calculated using returns of the funds, the returns of the fund’s market index or a combination of both, for the previous five years. Index returns or a mix are used if the fund has existed for less than five years. All Managers are required to use the same methodology so you can compare the risk of different funds if you are researching more than one manager.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | 4.11% | 10.03% | 32.50% | 18.08% | 17.22% |
| Appropriate Market Index (AMI)2 | 2.42% | 10.20% | 31.44% | 13.96% | 14.08% |
AMI (appropriate market index) is a theoretical portfolio with similar underlying assets as the fund. This allows investors to see a comparison of how the value of those assets have changed in the market relative to the fund.
| Security Name | Percentage |
|---|---|
| Jpm Global Select Equity X Acc Usd | 32.05% |
| Amazon Com Inc | 3.82% |
| Microsoft Corp | 3.45% |
| Nvidia Corp | 2.53% |
| Applovin Corp | 2.35% |
| Visa Inc - A | 1.85% |
| Unitedhealth Group Inc Com Stk Us0.01 | 1.71% |
| Taiwan Semicon Manufacturing Co Ltd | 1.49% |
| Progressive Corp | 1.38% |
| Alphabet Inc Cap Stk Usd0.001 Cl A | 1.23% |
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Commentary
As of 31 January 2025
Market Overview
Fund Commentary
We saw a departure from the status quo of the last two years, with Value stocks beating their growth counterparts. MSCI World Value outperformed MSCI World Growth Index by almost 200 basis points in January. However, the dominance of a handful of names continued putting challenges on factor performance, emphasizing the importance of risk control in the portfolio.
In January, all of our factors in developed markets (represented by MSCI World) posted a negative spread between top and bottom quintile, with Low Volatility exhibiting the largest negative spread. Following the pattern in developed markets, Value also outperformed growth in emerging markets. Value was the only factor delivering positive spread between the top and bottom quintile in January.
In Australia, things are rosier with all factors seeing positive spread between their top and bottom quintiles. Also, after the extensive stint of weakness, Value rebounded in January.
ESG leaders also lagged slightly in January on the back of NVIDIA correction. NVIDIA is rated AAA based on MSCI ESG rating and was the single largest negative contributor to the ESG leader performance.