Global funds: Where in the world should you invest?


Global funds: Where in the world should you invest?

Quality and sexy aren’t quite the same, so don’t be dazzled by funds that chase short-term cycles

Stephen Cranston

Investing in a global equity fund would have enhanced returns over the past year. Even the worst performer, PSG Global Equity, did no worse than its domestic counterpart with a 5% loss.

There is a clear distinction between the performance of the value-orientated funds and those at the quality/growth end of the spectrum, though perhaps not as pronounced as a year ago. Absa Global Value, run by Schroders is no longer in the red, giving quite a decent 8.2% return, in rands at least.

The less nuanced Counterpoint fund, run by Sam Houlie gave just 3%, though he claims he is no longer a deep value zealot. Investors are being rewarded for virtue, as the Old Mutual World ESG (environmental, social and governance) fund was the best performer at 22.5%. In this case dull beat sexy, as the team that runs the ESG fund, Old Mutual Customised Solutions, thumped Magda Wierzycka’s sizzling Fourth Industrial Revolution Fund, which gave 13%...

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