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| Strategy | |
| Latest Return Date | |
| Latest Return | |
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| Latest 24 Months | |
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| FUM (millions) | |
| Fund Overview | Insync employs four simple screens to narrow the universe of over 40,000 listed companies globally to a focus group of high quality companies that it believes have the potential to consistently grow their profits and dividends. These screens are size of the company, balance sheet performance, valuation and dividend quality. Companies that pass this due diligence process are then valued using dividend discount models, free cash flow yield and proprietary implied growth and expected return models. The end result is a high conviction portfolio of typically 15-30 stocks. The principal investments will be in shares of companies listed on international stock exchanges (including the US, Europe and Asia). The Fund may also hold cash, derivatives (for example futures, options and swaps), currency contracts, American Depository Receipts and Global Depository Receipts. The Fund may also invest in various types of international pooled investment vehicles. At times, Insync may consider holding higher levels of cash if valuations are full and it is difficult to find attractive investment opportunities. When Insync believes markets to be overvalued, it may hold part of its resources in cash, or use derivatives as a way of reducing its equity exposure. Insync may use options, futures and other derivatives to reduce risk or gain exposure to underlying physical investments. The Fund may purchase put options on market indices or specific stocks to hedge against losses caused by declines in the prices of stocks in its portfolio. |
| Manager Comments | Insync has added new stocks to the portfolio within the Demographic Megatrend cluster of the 'global travel explosion'. Within the same cluster, Insync exited the profitable 'consumer goods' trend as fundamental conditions impacting this had changed. Both of these moves added positively to the Fund's April returns. Key positive contributors in April included Visa, Booking Holdings and Stryker, whilst the main negative contributors were TE Connectivity, eBay and Charter Communications. The Fund continues to have no foreign currency hedging in place as Insync believe the main risks to the Australian dollar to be on the downside. Utilisation of index put options to buffer sharp falls in equity markets remains. |
| More Information |
