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Home» Advisers» Products & platforms» Investments» Global equities» Walter Scott Global Equity Fund

Products & platforms

Walter Scott Global Equity Fund

Macquarie Professional Series

Overview
Features
About Walter Scott
Research
How to invest

Overview

The Walter Scott Global Equity Fund diversifies your client's portfolio by investing in international shares via companies with potential compound earning growth. The Fund holds a portfolio of between 40 to 60 global stocks.

The Walter Scott Global Equity Fund offers:

exposure to companies which typically exhibit strong earnings growth, high return on equity and high free cash flow
a fundamental approach with deliberate disregard for benchmark indices in portfolio construction
low turnover, ‘buy and hold’ approach allows time for a company’s earnings growth to translate into strong share price performance for investors.

The unique investment strategy of the Walter Scott Global Equity Fund may suit investors looking for long term growth, seeking to invest for five years or longer. The minimum application for the Walter Scott Global Equity Fund is $20,000.

Alternatively a hedged version of this fund is available.

Tools

PDS

Additional Information to the PDS

Fund review

Fact sheet

Quarterly distribution

Application form (22 June 2012)

Appendix A to the application form

Features

Fund name	Walter Scott Global Equity Fund
Investment manager	Walter Scott & Partners Limited, Edinburgh
Investment objective	To seek to achieve a long-term (five years or longer) total return that exceeds the MSCI World ex-Australia Index in $A dollars unhedged with net dividends reinvested
Investment approach	The fund will only invest in companies offering high earnings growth potential that Walter Scott believes warrants long-term investment
Asset allocation	International shares: 90% to 100% Cash: 0% to 10%
Minimum investment	$20,000
Distributions	Paid annually as at 30 June, if any
Applications	Daily
Withdrawals	Daily
Entry fee	Nil
Exit fee	Nil
Ongoing fee	1.28% pa (inclusive of GST)
Inception date	18 March 2005
Benchmark	MSCI World Index ex Australia in $A (unhedged) with net dividends re-invested
Number of stocks	Generally 40-60
Portfolio turnover	Approximately 15% - 25% per year
Buy/sell spread	+0.20% / -0.14%
Management fees	1.28% pa (inclusive of GST)

About Walter Scott

Walter Scott & Partners Limited (Walter Scott) are based in the United Kingdom and have been managing global equities since 1983. At 31 October 2012 they currently manage $A53.8 billion in assets for its clients globally, and specialises in managing assets for a range of institutional clients, including pension funds, foundations, corporations and governments.

Walter Scott’s investment process focuses on companies that offer strong wealth generation potential. These companies typically exhibit key strengths such as:

strong earnings growth
high return on equity
high free cash flow.

Stocks are selected using a bottom-up investment approach driven by in-depth financial analysis and qualitative research that aims to identify companies capable of generating high earnings growth. Walter Scott expect that on average and based on long term experience, 15 to 25 per cent of the stocks in the fund’s portfolio will be turned over each year which reflects their long-term ‘buy and hold’ approach.

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 index.

Research

Researcher	Rating
Lonsec	Highly Recommended ^∼
van Eyk	Highly Rated *
Zenith	Highly Recommended °

How to invest

Apply now

To invest in the Walter Scott Global Equity Fund:

download and read the Walter Scott Global Equity Fund Product Disclosure Statement (PDS) and Additional Information to the PDS
complete the Macquarie Professional Series application form dated 22 June 2012 with reference to Appendix A.
ensure you complete any additional identification requirements
send your completed application form and the additional required paperwork to:

Macquarie
GPO Box 2912
Brisbane QLD 4001

Or fax to 1800 219 334

Enquiries

If you have any questions regarding the application process please contact us on:

Financial advisers
Phone 1800 214 616

Or click here to be contacted by a Macquarie Business Development Manager.

Institutional investors
Phone 02 8232 7017

Master trusts and wrap operators
Phone 1800 214 616

Prospective investors
Call your financial adviser or Macquarie on 1800 214 616

Quick links

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Related links

Call: 1800 214 616

Fax: (02) 8232 9435

Where we provide any advice on this website, it has been prepared without considering your objectives, financial situation or needs. Before acting on any advice on this website, you should consider its appropriateness to your circumstances and, if a current offer document is available, read the offer document before acquiring products named on this website.

Past performance of any product described on this site is not a reliable indication of future performance.

Other than Macquarie Bank Limited (Australian Credit Licence (ACL) 237502) and Australian Financial Services Licence (AFSL) 237502) ABN 46 008 583 542 (MBL), any Macquarie Group entity noted on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). That entity's obligations do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

* van Eyk Research Pty Ltd ABN 99 010 664 632, corporate authorised representative of van Eyk Financial Group Pty Ltd ABN 28 149 679 078, AFSL 402146 (authorised representative number 408625) (van Eyk) rates investment management capabilities rather than individual products. This rating is valid as at February 2012 (IFP Global Franchise Fund, Walter Scott Global Equity Fund, Arrowstreet Global Equity Fund), March 2012 (Walter Scott Emerging Markets Fund) and April 2011 (Winton Global Alpha Fund) but can change or cease at anytime and should not be relied upon without referring to the meaning of the ratings, as well as the full manager reports, available to subscribers at www.irate.vaneyk.com.au. van Eyk has not directed the publication of this rating. Past performance information is given for illustrative purposes only and should not be relied upon as it is not an indication of future performance. The rating is not intended to influence you and your client's investment decision in relation to any products managed by Independent Franchise Partners, Walter Scott, Arrowstreet Capital or Winton Capital and does not take into account your client's individual financial situation, needs or objectives. We recommend that you and your client do not rely on this rating in making an investment decision and instead you seek advice from an appropriate investment adviser and read the product disclosure statement before making such a decision.

∼ Lonsec: The Lonsec ratings (assigned as follows: Analytic Global Managed Volatility Fund – December 2012; Arrowstreet Global Equity Fund – January 2012; Arrowstreet Global Equity Fund (Hedged) – January 2012; Walter Scott Global Equity Fund – December 2012; Walter Scott Global Equity Fund (hedged) – December 2012; IFP Global Franchise Fund – December 2012, IFP Global Franchise Fund (Hedged) – December 2012, Walter Scott Emerging Markets Fund – June 2012; Winton Global Alpha Fund – July 2012) presented in this document are published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445. The ratings are a “class service” (as defined in the Financial Advisers Act 2008 (NZ)) or limited to “General Advice” and based solely on consideration of the investment merits of the financial products. In New Zealand it must only be provided to “wholesale clients” (as defined in the Financial Advisers Act 2008 (NZ)). They are not a recommendation to purchase, sell or hold the relevant products, and you should seek independent financial advice before investing in these products. The ratings are subject to change without notice and Lonsec assumes no obligation to update the relevant documents following publication. Lonsec receives a fee from the Fund Manager for researching the products using comprehensive and objective criteria.
For further information regarding Lonsec’s ratings methodology, please refer to our website at: https://www.lonsec.com.au/aspx/Public/Documents/Ratings%20Definitions.pdf

° The Zenith Investment Partners ("Zenith") ABN 60 322 047 314 rating (Arrowstreet, Independent Franchise Partners and Walter Scott assigned September 2012, Winton and Analytic assigned April 2013 referred to in this document is limited to "General Advice" (as defined by section 766B of Corporations Act 2001) and based solely on the assessment of the investment merits of the financial product on this basis. It is not a specific recommendation to purchase, sell or hold the relevant product(s), and Zenith advises that individual investors should seek their own independent financial advice before investing in this product. The rating is subject to change without notice and Zenith has no obligation to update this document following publication. Zenith usually receives a fee for rating the fund manager and product against accepted criteria considered comprehensive and objective.

Investments in the Walter Scott Global Equity Fund ARSN 112 828 136 ("Fund") are offered by Macquarie Investment Management Limited ABN 66 002 867 003 ("MIML").

This information is general advice only and has been prepared without taking into account the individual objectives, financial situation or needs of any particular investor. Before making a decision to invest in the Fund on the basis of this information, investors should read the Fund's product disclosure statement ("PDS") and consider, with or without their financial adviser, whether it fits their objectives, financial situation and needs. Applications for units in the Fund can only be made on an application form contained in the current PDS.

Investments in the Fund are not deposits with or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 or any Macquarie Group company and are subject to investment risk, including possible delays in repayment and loss of income or principal invested. None of Macquarie Bank Limited, MIML or any other Macquarie Group company guarantees the performance of the Fund or the repayment of capital from the Fund or any particular rate of return.

Any financial product advice provided by us is free of charge. MIML may receive remuneration for distributing financial products issued by other Macquarie Group companies.