Global Opportunity Fund

Share Class :
ISIN: LU0552385295
Overall Morningstar Rating1
Marketing Communication
Global Opportunity Fund
Marketing Communication
ISIN: LU0552385295
Share Class :

Global Opportunity Fund

ISIN: LU0552385295
Overall Morningstar Rating1

Marketing Communication

Important Information

  • The Fund primarily invests in high quality growing companies on a global basis.
  • Investment involves risks. Key risks for this fund include Risk of Investment in Equity, Exchange Rate Risk, Emerging Market Risk, Derivatives Risk and Risk of Exposure to the Euro and Eurozone.
  • There is a risk that you may potentially lose your entire investment in this Fund.
  • The investment decision is yours but you should not invest unless the intermediary who sells it to you has advised you that it is suitable for you and has explained why, including how buying it would be consistent with your investment objectives. You should not make any investment decision solely based on this document. Please read the relevant offering document carefully for further fund details including risk factors. 
Investment Objective
Long term growth of your investment.
Investment Approach
The Fund seeks long-term capital appreciation by investing globally in high quality established and emerging companies that the investment team believes are undervalued at the time of purchase. To achieve its objective, the investment team typically favors companies it believes have sustainable competitive advantages that can be monetized through growth. The investment process integrates analysis of sustainability with respect to disruptive change, financial strength, environmental and social externalities and governance (also referred to as ESG).
Nov '10
Share Class Launch Date
Tracking error (3 yr) (%)
R Squared

The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.

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-Jun-2024

As of 17-Jul-2024

As of 30-Jun-2024

As of 17-Jul-2024

Performance of 100 USD invested
Performance of 100 USD invested

Average Annual Total Returns As of 30-Jun-2024 As of 30-Jun-2024
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class A USD (%) 23.80 -3.47 9.59 12.65 12.73
MSCI All Country World Net Index (%) 19.38 5.43 10.76 8.43 9.39
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class A USD (%) 23.80 -3.47 9.59 12.65 12.73
MSCI All Country World Net Index (%) 19.38 5.43 10.76 8.43 9.39
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Share Class A USD (%) 50.26 -42.46 -0.06 54.01 34.82 -7.36 48.44 -0.56 18.62 7.40
MSCI All Country World Net Index (%) 22.20 -18.36 18.54 16.25 26.60 -9.41 23.97 7.86 -2.36 4.16
Average Annual Total Returns
As of 30-Jun-2024
TIMEFRAME Share Class A USD (%) MSCI All Country World Net Index (%)
1 Yr 23.80 19.38
3 Yrs -3.47 5.43
5 Yrs 9.59 10.76
10 Yrs 12.65 8.43
Since Inception 12.73 9.39
As of 30-Jun-2024
TIMEFRAME Share Class A USD (%) MSCI All Country World Net Index (%)
1 Yr 23.80 19.38
3 Yrs -3.47 5.43
5 Yrs 9.59 10.76
10 Yrs 12.65 8.43
Since Inception 12.73 9.39
TIMEFRAME Share Class A USD (%) MSCI All Country World Net Index (%)
2023 50.26 22.20
2022 -42.46 -18.36
2021 -0.06 18.54
2020 54.01 16.25
2019 34.82 26.60
2018 -7.36 -9.41
2017 48.44 23.97
2016 -0.56 7.86
2015 18.62 -2.36
2014 7.40 4.16

Risk/Return Statistics

    Share Class A Index
Excess Return (%) -8.90 --
Alpha (%) -9.53 --
Beta 1.28 1.00
Information ratio -0.66 --
R squared 0.74 1.00
Sharpe ratio -0.27 0.14
Tracking error (%) 13.44 --
Volatility (Standard deviation) (%) 24.84 16.76
Down-capture ratio (%) 123.57 100.00
Up-capture ratio (%) 88.64 100.00
Composition 4 As of 30-Jun-2024
  Fund Index
Consumer Discretionary 31.94 10.39
Information Technology 20.78 25.86
Financials 16.35 15.57
Communication Services 14.92 7.91
Industrials 13.93 10.29
Consumer Staples -- 6.20
Energy -- 4.37
Health Care -- 10.89
Materials -- 3.99
Real Estate -- 2.04
Utilities -- 2.49
Cash 2.00 --
May not sum to 100% due to the exclusion of other assets and liabilities.

Geography4 As of 30-Jun-2024
  Fund Index
North America 63.99 67.33
Pacific Basin 11.71 6.99
Indian Sub-Continent 7.17 1.96
EURO Europe 7.00 7.53
Non-EURO Europe 5.27 7.27
South America 1.47 0.52
Japan 1.31 5.10
Cash 2.00 --
May not sum to 100% due to the exclusion of other assets and liabilities.

Holdings As of 30-Jun-2024
Fund Index
Uber Technologies Inc 8.57 0.18
ServiceNow Inc 8.10 0.22
Meta Platforms Inc 6.40 1.50 Inc 5.23 2.45
MercadoLibre Inc 4.93 0.10
DSV A/S 4.00 0.04
Shopify Inc 3.88 0.11
ICICI Bank Ltd 3.72 0.10
Coupang Inc 3.67 --
Spotify Technology S.A. 3.60 --
Total 52.10 --

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 (%) 92.56 --
Return on invested capital - NTM (%) # 200.00 21.95
Sales growth 3 year forward CAGR # 14.43 5.97
Net cash to equity (%) 18 -30
Weighted average market capitalization ($B) 300.26 668.21
Number of holdings 33 2,760
#Next Twelve Months consensus estimates.
#Source: FactSet Research Systems Inc. Based on 2023-2026 Compound Annual Growth Rate (CAGR) FactSet consensus estimates.

This is a marketing communication. Applications for shares in the Fund should not be made without first consulting the current Prospectus and the Key Facts Statement, which are available in English and in the official language of your local jurisdiction at A summary of investor rights is available in the official languages of your local jurisdiction at the same website.

If the management company of the relevant Fund decides to terminate its arrangement for marketing that Fund in any EEA country where it is registered for sale, it will do so in accordance with the relevant UCITS rules.

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.

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.

1 Ratings as of 30-Jun-2024. 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.

© 2024 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 All Country World Index (ACWI) is a free float-adjusted market capitalization weighted index designed to measure the equity market performance of developed and emerging 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.

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 the exclusion of other assets and liabilities. For additional information regarding sector classification/definitions please visit 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.

## Forecasts and/or estimates provided herein are subject to change and may not actually come to pass. These conclusions are speculative in nature, and are not intended to predict the future performance of any specific strategy or product the Firm offers. Future results may differ significantly depending on factors such as changes in securities or financial markets or general economic conditions.

Next Twelve Months consensus estimates.


Source: FactSet Research Systems Inc. Based on 2023-2026 Compound Annual Growth Rate (CAGR) FactSet consensus estimates.


BENCHMARK Hong Kong as of September 30, 2019, class A shares. Based upon total return in U.S.$. The winners in the Top Mutual Fund category are those which: 1. are an open-ended onshore or offshore fund authorized by the Hong Kong SFC, 2. have a minimum fund size of US$100 million, 3. have a minimum 3-year track record, and 4. are not a fund with back-end/redemption fees. The Best-in-Class (BIC) awardees are the highest scoring funds based on (USD) performances between October 1, 2018 and September 30, 2019, by using the following weighting: 1-year Return: 20%; 3-year Return: 30%; 5-Year Return: 20%; 3-Year Sortino Ratio: 30%. Monthly score sets are calculated by aggregating the 12-monthly rolling one-year, three-and five-year (USD) returns, and by adding a risk score for their risk-adjusted returns. Funds in the final score set with a negative Sortino ratio will be excluded from the assessment for the awards. For more information on the methodology, please refer to performance is no guarantee of future results.

The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.
The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper. Other share classes may have different performance and expense characteristics. From Refinitiv Lipper Awards, © 2020 Refinitiv. All rights reserved.

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.


This Fund is classified as an Article 8 product under the Sustainable Finance Disclosure Regulation. Article 8 products are those which promote environmental or social characteristics and which integrate sustainability into the investment process in a binding manner.

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