Also available as income units
Charges and savings
|Fund manager's initial charge||0.00%|
|HL saving on initial charge||0.00%|
|HL Dealing charge||Free|
|Net initial charge||0.00%|
|Fund manager's annual charge||1.50%|
|HL Annual saving (loyalty bonus)||0.10% 2|
|Net Annual charge||1.40%|
|Fund manager's other expenses||0.23%|
|HL Platform charge||Free|
Please read the Simplified Prospectus/Key Investor Information Document in addition to the information above. Further details available in the HL guide to fund prices, savings and yields.
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Before you invest please read the documents below.
HL research - our view on this fund
The fund is managed by Virginie Maisonneuve and was launched in April 2010. It is a concentrated portfolio of the manager's 30 to 40 best ideas from across global stock markets, including higher risk emerging markets.
Volatile stock markets over the past couple of years have provided an unpredictable environment, and many fund managers have struggled to outperform. For this fund the initial results have been disappointing. Please remember past performance is not an indicator of future performance.
Our analysis suggests the fund has been more volatile than the benchmark while also suffering a larger maximum drawdown (peak to trough fall in value). In addition, taking the portfolio's monthly returns into consideration Virginie Maisonneuve has, on average, slightly underperformed her benchmark in both rising and falling markets since the fund's launch.
There have been some successes for the fund; however these have not made up for poor performance elsewhere. Our analysis suggests stock selection has detracted from performance overall, particularly in the oil & gas, mining and industrial sectors. UK listed oil & gas company BG Group and Australian iron ore miner Atlas Iron have both been disappointing investments so far.
There has also been a higher level of buying and selling stocks within the portfolio (a higher 'portfolio turnover rate') than we would have expected. This can be justified in certain circumstances, but we do not believe it is in keeping with this fund's aim of investing in companies capable of long-term growth, and feel it could be a further reason for the fund's underperformance.
We have therefore removed the fund from the Wealth 150, which is reserved for the funds we believe offer the best long-term prospects. There is no escaping the fact that the fund's performance has been disappointing to date. Investors seeking an alternative to this fund might wish to refer to the Global Funds section of the Wealth 150.
|Ex-dividend date||16 March 2014|
|Payment date 4||15 May 2014|
Top 10 sectors
|Software & Computer Services||10.28%|
|Pharmaceuticals & Biotechnology||6.92%|
|Health Care Equipment & Services||3.68%|
Top 10 countries
Some of the data on this page and other related pages is provided to you for your information and is received from the Fund Management Company administering this fund. Hargreaves Lansdown accepts no liability for the reliability or accuracy of the data provided by third parties.
2 Annual saving (loyalty bonus) only available on holdings worth over £1,000. Loyalty bonuses in the Vantage Fund & Share Account are paid net of basic rate tax. Loyalty bonuses in the Vantage ISA and SIPP are tax-free and paid gross.
4 If you elect to receive the income from a Vantage ISA or Vantage Fund & Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.
Prices as at 23-05-2013. Data as at 30/04/2013.