Performance
Returns displayed in currencies other than USD are for illustrative purposes only and are based on the prevailing NAV in USD at each measurement period converted to the display currency.
Returns displayed in currencies other than USD are for illustrative purposes only and are based on the prevailing NAV in USD at each measurement period converted to the display currency.
Returns displayed in currencies other than USD are for illustrative purposes only and are based on the prevailing NAV in USD at each measurement period converted to the display currency.
Returns displayed in currencies other than USD are for illustrative purposes only and are based on the prevailing NAV in USD at each measurement period converted to the display currency.
The Morningstar Rating is an assessment of a fund’s past performance – based on both return and risk – which shows how similar investments compare with their competitors. A high rating alone is insufficient basis for an investment decision. For each fund with at least a three-year history,Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance(including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance.The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-,five- and 10-year (if applicable) Morningstar Rating metrics.
FE fundinfo Crown Fund Ratings enable investors to distinguish between funds that are strongly outperforming their benchmark from those that are not. The top 10% of funds will be awarded five FE fundinfo Crowns, the next 15% receiving four Crowns and each of the remaining three quartiles will be given three, two and one Crown respectively.
© 2023 FE fundinfo. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FE fundinfo, (2) may not be copied or redistributed, (3) do not constitute investment advice offered by FE fundinfo, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete, or accurate. FE fundinfo shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. FE fundinfo does not guarantee that a fund will perform in line with its FE fundinfo Crown Fund Rating as it is a reflection of past performance only. Likewise, the FE fundinfo Crown Fund Rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision.
What we do
- Invest around the world guided by value, not the crowd or benchmark
- Invest like astute business people
- Analyse the long-term cash flow stream
- Calculate “normal earnings” and fair value
- Want management “on our side”
- Avoid over-leveraged businesses
- Admit mistakes quickly
- Invest alongside clients
What we do differently
- Don’t meet company management – we don’t want biases
- Avoid highly rated businesses & narratives
- Have a small team – more efficient decision making
- Ignore fund turnover – our focus is returns
- Only manage one fund
- No segregated accounts