For investors in Hong Kong

US Forty Fund

Our differentiated view from the market identifies growth where growth is scarce, which we believe positions our investments to outperform the index over time

ISIN
IE0004445239

NAV
USD 50.10
As of 2023/06/08

1-Day Change
USD 0.40 (0.80%)
 As of 2023/06/08

Key investment risks:

  • The Fund's investments in equities are subject to equity market risk due to fluctuation of securities values.
  • Investments in the Fund involve general investment, currency, hedging, economic, political, policy, foreign exchange, liquidity, tax, legal, regulatory and securities financing transactions related risks. In extreme market conditions, you

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  • may lose your entire investment.
  • The Fund may invest in financial derivatives instruments for investment and efficient portfolio management purposes. This may involve counterparty, liquidity, leverage, volatility, valuation, over-the-counter transaction, credit, currency, index, settlement default and interest risks; and the Fund may suffer total or substantial losses.
  • The Fund's investments are concentrated in a portfolio of 20-40 US companies and may be more volatile.
  • Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

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Overview

INVESTMENT OBJECTIVE

The Fund aims to provide capital growth over the long term.

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The Fund seeks to achieve its objective by investing at least 80% of its assets in a concentrated portfolio of 20-40 equities of US companies selected for their growth potential. The Fund generally invests in larger companies in any industry and sector.

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ABOUT THIS FUND

  • Typically holding 30 to 40 stocks, the fund invests in our best US large-cap growth equity ideas where we believe we have a differentiated view from the market
  • Stock-picker’s fund leveraging three decades of experience in high-conviction investing
  • Fundamental, research-driven approach seeking innovative wide-moat companies

PORTFOLIO MANAGEMENT

Doug Rao

Doug Rao

Portfolio Manager

Industry since 1998. Joined Firm in 2013.

Nick Schommer, CFA

Nick Schommer, CFA

Portfolio Manager

Industry since 2007. Joined Firm in 2013.

Brian Recht

Brian Recht

Portfolio Manager | Research Analyst

Industry since 2011. Joined Firm in 2015.

Performance

Discrete Performance (%)
As of 2023/03/31
A2 USD
 
Quarter End
As of 2023/03/31 		Mar-2022 - Mar-2023 Mar-2021 - Mar-2022 Mar-2020 - Mar-2021 Mar-2019 - Mar-2020 Mar-2018 - Mar-2019
A2 USD -15.78 5.22 60.16 1.25 11.01
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Cumulative Performance (%)
As of 2023/05/31
A2 USD
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
1998/12/24
A2 USD 4.30 10.42 11.17 18.18 6.53 22.78 61.07 392.70
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Calendar Year Returns (%)
As of 2023/03/31
A2 USD
2022 2021 2020 2019 2018
A2 USD -34.32 21.26 37.27 34.45 -0.32
Calendar Year Returns (%)
Year A2 USD Index
2022 -34.32 -29.14
2021 21.26 27.60
2020 37.27 38.49
2019 34.45 36.39
2018 -0.32 -1.51
2017 28.04 30.21
2016 -2.54 7.08
2015 5.56 5.67
2014 9.59 13.05
2013 36.21 33.48
2012 21.39 15.26
2011 -8.87 2.64
2010 6.86 16.71
2009 43.83 37.21
2008 -44.85 -38.44
2007 30.21 11.81
2006 9.22 9.07
2005 10.94 5.26
2004 14.79 6.30
2003 22.77 29.75
2002 -24.48 -27.88
2001 -23.99 -20.42
2000 -29.99 -22.42
1999 73.05 33.16
1998 from 24/12/1998 -0.20 1.22
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.25%
Ongoing Charge
(As of 2021/12/31) 		2.14%
The ongoing charge is calculated using the Packaged Retail Investment Product (PRIIPs) methodology. The PRIIPs methodology differs to the UCITS ongoing charge methodology, as the PRIIPS methodology captures additional recurring charges, including but not limited to: a. Interest paid on borrowing (e.g. bank interest) b. Any fees incurred in relation to stock-lending activity (i.e. the fee paid to the lending agent) c. Any costs associated with holding closed-ended vehicles.
Please refer to the offering documents for more details on the fees and expenses.

Portfolio

Top Holdings (As of 2023/04/30)
% OF FUND
Microsoft Corp 10.53
Apple Inc 8.77
Mastercard Inc 6.69
Amazon.com Inc 6.67
Workday Inc 4.19
Advanced Micro Devices Inc 3.70
Deere & Co 3.07
NVIDIA Corp 3.07
Meta Platforms Inc 2.97
AbbVie Inc 2.96
Total 52.62
Portfolio holdings are subject to change without notice. 
Sector Allocation % OF FUND % OF FUND (As of 2023/04/30)
Regional Allocation % OF FUND % OF FUND (As of April 30, 2023)

Documents

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