Investment objective
The Sub-Fund aims to provide capital growth over the long term by investing in a concentrated, actively managed portfolio of equity securities and/or depositary receipts listed in the U.S.
The Sub-Fund is actively managed. The Index Benchmark, S&P 500 Index, is broadly representative of the companies in which the Sub-Fund may invest and is used for performance comparison purposes only.
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Under normal circumstances, the Sub-Fund invests at least 80% of its assets in equity securities listed in the U.S., primarily focusing on large, well-established firms across various sectors. It typically holds 20–30 positions, with no fewer than 20, and may invest up to 20% of its assets in non-U.S. listed equity securities.
The Sub-Fund may invest up to 20% of its assets in non-U.S. companies either via depositary receipts or directly. The Sub-Fund may also hold cash and use derivatives for hedging, including forward FX contracts to manage currency risk for Hedged Share Classes. It may temporarily deviate from these guidelines for liquidity, subscriptions, redemptions, or defensive purposes during unusual market conditions. The Investment Manager has discretion to select securities from the Index Benchmark with different weightings or securities not included in the Index.
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The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is a Marketing Communication and does not qualify as an investment recommendation.
About this fund
Seeking the next generation of growth opportunities
Targets companies benefiting from trends like AI, deglobalisation, health care innovation and digitisation.
Why invest in this fund
Portfolio characteristics
(As of 30/06/2026)
| Number of holdings: | 23 |
| Active share: | 88.50 |
| Weighted average market cap: | 635,646 |
| Price-to-book ratio: | 9.69 |
| Price-to-earnings ratio: | 32.61 |
