Global Brands Fund
Share Class :
 
ISIN: LU0404214834
Global Brands Fund
ISIN: LU0404214834
Share Class :

Global Brands Fund

SHARE CLASS :
ISIN: LU0404214834
 
 
 
 
Investment Objective
Long term growth of your investment.
Investment Approach
The investment team believes that high-quality companies can generate superior returns over the long term. Such companies are typically built on dominant market positions, underpinned by powerful, hard to replicate intangible assets that can generate high, unlevered returns on operating capital and strong free cash flows. Other characteristics are recurring revenue streams, pricing power, low capital intensity and organic growth.
 
 
Pricing & Performance

Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. All performance data is calculated NAV to NAV, net of fees, and does not take account of commissions and costs incurred on the issue and redemption of units. The sources for all performance and Index data is Morgan Stanley Investment Management. Please click here for additional performance disclosures and important information, which should be reviewed carefully.

As of 30-Sep-2020

As of 28-Oct-2020

As of 30-Sep-2020

As of 28-Oct-2020


Performance of 100 EUR invested
Performance of 100 EUR invested

     
Past performance is not a reliable indicator of future results.
 
 
Total Returns Average Annual Total Returns As of 30-Sep-2020 As of 30-Sep-2020
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class CH (EUR) EUR (%) 9.87 8.96 9.57 -- 8.60
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class CH (EUR) EUR (%) 9.87 29.37 57.93 -- 124.32
Morningstar Category Average (%) -- -- -- -- --
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class CH (EUR) EUR (%) 9.87 8.96 9.57 -- 8.60
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class CH (EUR) EUR (%) 9.87 29.37 57.93 -- 124.32
Morningstar Category Average (%) -- -- -- -- --
2019 2018 2017 2016 2015 2014 2013
Share Class CH (EUR) EUR (%) 23.52 -6.23 21.55 1.84 4.01 3.76 17.51
2016 2017 2018 2019 2020
Share Class CH (EUR) EUR (%) 10.17 10.81 12.20 4.93 9.87
 
Total Returns
As of 30-Sep-2020
TIMEFRAME Share Class CH (EUR) EUR (%)
1 Yr 9.87
3 Yrs 8.96
5 Yrs 9.57
10 Yrs --
Since Inception 8.60
TIMEFRAME Share Class CH (EUR) EUR (%) Morningstar Category Average (%)
1 Yr 9.87 --
3 Yrs 29.37 --
5 Yrs 57.93 --
10 Yrs -- --
Since Inception 124.32 --
As of 30-Sep-2020
TIMEFRAME Share Class CH (EUR) EUR (%)
1 Yr 9.87
3 Yrs 8.96
5 Yrs 9.57
10 Yrs --
Since Inception 8.60
TIMEFRAME Share Class CH (EUR) EUR (%) Morningstar Category Average (%)
1 Yr 9.87 --
3 Yrs 29.37 --
5 Yrs 57.93 --
10 Yrs -- --
Since Inception 124.32 --
TIMEFRAME Share Class CH (EUR) EUR (%)
2019 23.52
2018 -6.23
2017 21.55
2016 1.84
2015 4.01
2014 3.76
2013 17.51
TIMEFRAME Share Class CH (EUR) EUR (%)
2016 10.17
2017 10.81
2018 12.20
2019 4.93
2020 9.87
Past performance is not a reliable indicator of future results.
 
 
 
 
Composition 4 As of 30-Sep-2020
  Fund Index
Consumer Staples 34.06 8.22
Information Technology 29.32 22.10
Health Care 21.42 13.75
Industrials 4.67 10.38
Financials 3.88 11.86
Consumer Discretionary 2.90 11.83
Communication Services 1.30 8.85
Cash 2.01 --
 
May not sum to 100% due to the exclusion of other assets and liabilities.


Geography4 As of 30-Sep-2020
  Fund Index
United States 68.18 66.50
United Kingdom 17.15 4.05
France 5.18 3.25
Germany 4.53 2.93
Netherlands 1.99 1.33
Italy 0.53 0.68
Cash 2.01 --
 
May not sum to 100% due to the exclusion of other assets and liabilities.


Holdings As of 30-Sep-2020
Fund Index
Reckitt Benckiser plc 9.02 0.15
Microsoft Corp 8.54 3.37
Philip Morris Inc 7.58 0.26
Visa Inc 5.34 0.75
Procter & Gamble Co. 4.89 0.76
Accenture plc 4.78 0.32
Sap Se 4.53 0.36
Danaher Corp 4.30 0.31
Baxter International Inc 4.28 0.09
Abbott Laboratories 4.08 0.43
Total 57.34 --

These securities and percentage allocations are only for illustrative purposes and do not constitute, and should not be construed as, investment advice or recommendations with respect to the securities or investments mentioned.



Portfolio Characteristics
Fund Index
Active share (%) 89.85 --
Number of holdings 32 1,607
Free cash flow yield
(Next 12 Months) (%)
4.31 4.27
Price/earnings (Next 12 months) 23.14 20.20
Dividend Yield (Next 12 Months) (%) 2.06 2.18
 
 
Investment Team
William Lock
Head of International Equity Team
28 years industry experience
Bruno Paulson
Managing Director
26 years industry experience
Nic Sochovsky
Managing Director
22 years industry experience
Vladimir Demine
Head of ESG Research
18 years industry experience
Dirk Hoffmann-Becking
Executive Director
22 years industry experience
Nathan Wong
Executive Director
20 years industry experience
Marcus Watson
Executive Director
12 years industry experience
Alex Gabriele
Executive Director
11 years industry experience
Richard Perrott
Executive Director
14 years industry experience
Fei Teng
Fei Teng
Senior Associate
Helena Miles
Helena Miles
Senior Associate
Team members may be subject to change at any time without notice.
 
 
 
 

Please visit our Glossary page for fund related terms and definitions.

Performance data quoted is based on average annualized returns and net of fees.

The source for all performance and index data is Morgan Stanley Investment Management Limited.

Past performance is not indicative of future results. The value of the investments and the income from them can go down as well as up and an investor may not get back the amount invested. Returns may increase or decrease as a result of currency fluctuations. Performance data for funds with less than one year's track record is not shown. Performance is calculated net of fees. YTD performance data is not annualised. Performance of other share classes, when offered, may differ. Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and key facts statement (KFS) contains this and other information about the fund. Please read the prospectus and KFS carefully before you invest.

1 The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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 managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account sales loads.

The Europe/Asia and South Africa category (EAA) includes funds domiciled in European markets, major cross-border Asian markets where material numbers of European UCITS funds are available (principally Hong Kong, Singapore and Taiwan), South Africa, and selected other Asian and African markets where Morningstar believes it is of benefit to investors for the funds to be included in the EAA classification system.

© 2020 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2 The MSCI World Net Index is a free float adjusted market capitalization weighted index that is designed to measure the global equity market performance of developed markets. The term "free float" represents the portion of shares outstanding that are deemed to be available for purchase in the public equity markets by investors. The performance of the Index is listed in U.S. dollars and assumes reinvestment of net dividends. The index is unmanaged and does not include any expenses, fees or sales charges. It is not possible to invest directly in an index.

Entry Charge is a maximum possible figure. In some cases you might pay less, you can find this out from your financial adviser. Ongoing Charges reflect the payments and expenses incurred during the fund's operation and are deducted from the assets of the fund over the period. It includes fees paid for investment management (Management Fee), trustee/custodian, and administration charges. The Minimum Initial Investment/Minimum Subsequent Investment amounts may be in US Dollars (or the Euro Yen or Sterling equivalent of the US Dollar amount). For more information please see the Charges and Expenses section of the prospectus.

4 May not sum to 100% due to rounding. For additional information regarding sector classification/definitions please visit www.msci.com/gics and the glossary page. Cash & Equivalents are defined as the value of assets that can be converted into cash immediately. These include commercial paper, open FX transactions, Treasury bills and other short-term instruments.  Such instruments are considered cash equivalents because they are deemed liquid and not subject to significant risk of changes in values.

William Lock, Bruno Paulson and Vladimir Demine started to manage the fund in June 2009.

Benchmark ESG Fund Ratings Methodology:

A set of rule-based methodology can be substantiated by the individual inputs promoting objectivity, greater transparency, and heightened understanding of a company's sustainability performance. BENCHMARK ESG methodology considers the principle of financial materiality, and the feature layer aggregate thousands of inputs along well-defined topics:

Environmental: 7 Feature Scores with 68 Topic Groups

Social: 10 Feature Scores with 111 Topic Groups

Governance: 5 Feature Scores with 72 Topic Groups

The A to C ratings are assigned based on the fund level ESG performance derived from the underlying companies' ESG performance. The portfolio must have 65% or more of the fund's gross weight with ESG scoring provided at the company level before a fund level score can be calculated. Cash and short positions are not included in the fund's gross weight calculation. The Fixed income issuers must also be a company under the BENCHMARK coverage.

Benchmark GC Fund Ratings Methodology:

The Global Compact (GC) Score provides a normative assessment of companies based on the four core principles of the United Nations Global Compact (GC): human rights, labor rights, the environment and anti-corruption. With more than 9,000 corporate signatories from over 160 countries, the Global Compact is the world's largest corporate. This provides a deeper understanding of reputational risk facing a company. A distinction is made between features that focus more on negative aspects and features that are more positive in nature, with the former taking precedence in case of poor performance to avoid compensation.

Human Rights: Human Rights, Labor Rights, Occupational Health and Safety, Employment Quality, Diversity; Product Quality and Safety, Product Access, Community Relations

Labor Rights: Labor Rights, Occupational Health and Safety, Diversity, Compensation, Training and  Development, Employment Quality

Environment: Emissions, Waste, Environmental Stewardship, Environmental Management, Resource Use, Water, Environmental Solutions

Anti-Corruption: Business Ethics, Corporate Governance, Transparency

The A to C ratings are assigned based on the fund level ESG performance derived from the underlying companies' GC performance. The portfolio must have 65% or more of the fund's gross weight with GC scoring provided at the company level before a fund level score can be calculated. Cash and short positions are not included in the fund's gross weight calculation. The Fixed income issuers must also be a company under the BENCHMARK coverage.

 
 

WAM is the weighted average maturity of the portfolio. The WAM calculation utilizes the interest-rate reset date, rather than a security's stated final maturity, for variable- and floating- rate securities. By looking to a portfolio's interest rate reset schedule in lieu of final maturity dates, the WAM measure effectively captures a fund's exposure to interest rate movements and the potential price impact resulting from interest rate movements.

 

WAL is the weighted average life of the portfolio. The WAL calculation utilizes a security's stated final maturity date or, when relevant, the date of the next demand feature when the fund may receive payment of principal and interest (such as a put feature). Accordingly, WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

 

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