The fund aims to achieve absolute returns with moderate risk. It invests in North American OECD country companies of the highest quality, with proven track records, sound financials and predictable future earnings growth.

The fund is actively managed and the S&P 500 TR Index is the benchmark index against which the fund’s performance is compared. While a proportion of the fund’s assets may be components of (and have similar weightings to the index), the Investment Manager may use its discretion to invest a significant proportion of the fund in assets which are not included in the benchmark index or with weightings different to that of the benchmark index.

Investment philosophy

Fund information

Fund size:

360musd

IA Sector:

North America

Launch date:

11.06.2007

Legal status:

UCITS

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Time periodFund performanceS&P 500 TRDifference
1M1.11%4.96%-3.85%
3M-3.58%3.91%-7.49%
2024 YTD-0.50%11.30%-11.80%
1Y12.06%28.19%-16.13%
3Y7.25%28.19%-24.29%
5Y78.93%31.54%-29.33%
10Y256.36%230.28%+26.08%
Since Launch381.37%389.14%-7.77%
CAGR 3Y2.35%9.52%-7.17%
CAGR 5Y12.29%15.74%-3.45%
CAGR 10Y13.50%12.64%+0.86%
CAGR Since Launch9.71%9.82%-0.11%

Source: Brown Brothers Harriman, USD U I share class, net of fees, as at 31 May 2024.

Risks of investing in the Fund

The Fund is subject to the following Risk Factors (without limitation):

  • The market price of shares may go down as well as up.
  • Investing in the fund involves investment risks, including possible loss of the amount invested.
  • Hedging risk: the fund may use derivatives for currency hedging purposes. The use of such derivatives may be unsuccessful. Further, when used for hedging purposes there may be an imperfect correlation between these instruments and the investments or market sectors being hedged.
  • For a more detailed explanation of the risks involved, please see “Risk Factors” in the fund’s prospectus.

Portfolio analytics & data

Categories Data  
% of portfolio with less than 5% involvement in oil & gas 100.0%  
Scope 1 Emissions (Avg Weighted) 26,151  
Scope 2 Emissions (Avg weighted) 675,840  
% of portfolio with no evidence of labour controversies 90.5%  
% of portfolio with controversial weapons usage 0.0%  
% of portfolio with tobacco involvement 0.0%  
% of board independent (weighted) 81.2%  
Categories Data  
Number of holdings 20  
12-month forward PE 28.2x  
Fund FCF yield (2024) 3.3%  
Weighted market capitalisation ($bn) 453  
Net debt / EBITDA (2024) -0.3x  
Return on invested capital (2024) 25.9%  
FCF / net profit (2024) 110%  
Weighted EPS growth (2024-26) 12.0% p.a.  

Source: Factset, Sustainalytics & Seilern Investment Management Ltd.  All figures calculated as the median, as at 31 May 2024.

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