Walter Scott Global Equity FundSeeking exposure to quality global companies with strong growth characteristics

What the Walter Scott Global Equity Fund aims to offer

Quality global exposure

Seeking high quality global companies with strong growth characteristics

Conservative investment approach

Access Walter Scott’s conservative, team-based approach

Defensive investing

Potential for high returns over a full market cycle, with lower risk than the benchmark

Fund facts
Investment objective The Walter Scott Global Equity Fund aims to achieve a long-term total return (before fees and expenses) that exceeds the MSCI World ex Australia Index, in $A unhedged with net dividends reinvested (Benchmark).
Benchmark MSCI World ex Australia Index, in $A unhedged with net dividends reinvested
Inception date 18 March 2005
Fund size $A3,294.0m (current as at 30 September 2018)
Management fee 1.28% pa of the net asset value of the Fund
Performance fee 0.00%
Minimum investment $A20,000
Distribution frequency Generally annually
APIR code MAQ0410AU
Macquarie Professional Series The Walter Scott Global Equity Fund is proudly brought to you by Macquarie Professional Series. Learn more

Read the Product Disclosure Statement for more details on fees and expenses that may be charged.

A hedged version of the Fund is also available.

Investment strategy

Walter Scott scours the global markets for what it believes are the world’s best companies. Its fundamental, bottom-up investment approach combines detailed financial analysis with business and industry analysis.

Walter Scott's selective stock picking and ability to target companies capable of sustainable wealth generation has created a concentrated portfolio of stocks Walter Scott believes offer high growth potential.

Walter Scott believes that companies capable of generating strong and sustained earnings growth over long periods typically exhibit key strengths such as:

  • high return on equity
  • high free cash flow, and
  • high earnings growth.

Walter Scott's fundamental bottom-up investment approach combines detailed financial analysis with qualitative research in screening the global share universe for companies that are likely to meet its investment criteria.

The investment portfolio is constructed with a primary focus on stock-based analysis. Country and sector exposures are a consequence of the search for what are in Walter Scott’s view ‘“the best companies operating in the best sectors’..” As a result of this investment approach, the structure of the portfolio is likely to differ substantially from the composition of the Benchmark.

Walter Scott expects that on average, and based on long-term experience, 15 to 25 per cent or less of the stocks in the portfolio will be turned over each year, which reflects their long-term '“buy and hold'” approach.

It is this long-term, classical and fundamental approach which defines Walter Scott's conservative style of growth investing.

Performance

Net returns as at 30 September 2018

 
Period 1m (%) 3m (%) 6m (%) 1y (%) 2y (%pa) 3y (%pa) 5y (%pa) Inception* (%pa)
Walter Scott Global Equity Fund** 2.06 9.87 16.58 27.56 13.83 15.18 9.05
Benchmark*** 0.56 7.35 13.36 20.82 12.42 15.24 7.60

Download full report

Unhedged:

Past performance is not a reliable indicator of future performance. Total returns are calculated based on changes in net asset values and assumes the reinvestment of distributions.

* Inception date is 18 March 2005

** Total net returns are quoted after the deduction of all fees and expenses. Due to individual investor circumstances, your net returns may differ from the net returns quoted above.

*** The benchmark is the MSCI World ex Australia Index, in $A unhedged with net dividends reinvested.

Hedged

Net returns as at 31 August 2018

Period 1m (%) 3m (%) 6m (%) 1y (%) 2y (%pa) 3y (%pa) 5y (%pa) Inception* (%pa)
Walter Scott Global Equity Fund (Hedged)** 1.6 6.46 9.04 18.92 14.46 13.04 10.16
Benchmark*** 1.46 5.04 6.07 14.74 13.07 13.25 9.28

Download full report

Hedged:

Past performance is not a reliable indicator of future performance. Total returns are calculated based on changes in net asset values and assumes the reinvestment of distributions.

* Inception date is 20 March 2008.

** Total net returns are quoted after the deduction of all fees and expenses. Due to individual investor circumstances, your net returns may differ from the net returns quoted above.

*** The benchmark is the MSCI World ex Australia Index, in $A hedged with net dividends reinvested.

Managers

Meet the manager

24 March 2017

Watch this short video to hear from Walter Scott’s Investment Director, Roy Leckie, as he provides insight into their unique approach to investing and commitment to delivering long-term returns.

Risks

All investments carry risk. Different investments carry different levels of risk, depending on the investment strategy and the underlying assets. Generally, the higher the potential return of an investment, the greater the risk. The risks of investing in this Fund include:

Investment risk: The Fund has exposure to share markets. The risk of an investment in the Fund is higher than an investment in a typical bank account or fixed income investment. Amounts distributed to unitholders may fluctuate, as may the Fund’s unit price. The unit price may vary by material amounts, even over short periods of time, including during the period between a redemption request or application for units being made and the time the redemption unit price or application unit price is calculated.

Market risk: Share markets can be volatile, and have the potential to fall by large amounts over short periods of time. The investments of the Fund are likely to have a broad correlation with share markets in general, and hence poor performance or losses in domestic and/or global share markets are likely to impact negatively on the overall performance of the Fund.

Concentration risk: The fund may have exposure to a small number of key investments. This may result in the returns of the fund being dependent on the returns of individual companies and industry sectors. This concentration of exposures may increase the volatility of the fund’s unit price, and increase the risk of poor performance. It may also result in the fund’s returns differing significantly from its benchmark.

More information on the risks of investing in the Fund is contained in the Product Disclosure Statement, which should be considered before deciding to invest in the Fund.

How to invest

Download the Product Disclosure Statement – Unhedged Fund / Hedged Fund, Information Booklet, and check for PDS updates

Send us the Application Form and any required identification documents

Resources

Insights

Currency insights: beyond the lucky country

Read More