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Walter Scott & Partners Limited (Walter Scott & Partners) is an independent global investment manager established in 1983, in Edinburgh, Scotland. Walter Scott & Partners has a wealth of experience in global equity investment and currently manages $40 billion (as at December 2007) in assets for its global client base. Walter Scott & Partners is a classical, fundamental and long term growth manager.
Process
The Walter Scott Global Equity Fund (Hedged) is a specialist global investment fund with an objective which seeks to achieve attractive long term returns (at least five to seven years) that exceeds the MSCI World ex-Australia Index in $A hedged with net dividends reinvested.
The Fund is a managed fund that invests primarily in a mix of international shares, other than those listed on the Australian Stock Exchange. The Fund may also have some exposure to cash and derivatives including currency hedging positions to minimise foreign currency exposure.
Benefits
The Fund provides the potential for the following key benefits:
- attractive long term returns
- higher long-term returns than the benchmark index
- a low correlation with the benchmark index; and
- currency hedging to minimise foreign currency exposure.
Key features of the fund
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Fund name
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Walter Scott Global Equity Fund (Hedged)
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APIR code
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MAQ0557AU
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Responsible entity
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Macquarie Investment Management Limited
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Investment manager
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Walter Scott & Partners Limited, Edinburgh
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Investment objective
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To seek to achieve a long-term (at least five to seven years) total return that exceeds the MSCI World ex-Australia Index in $A dollars hedged with net dividends reinvested.
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Investment approach
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The Fund will only invest in companies offering high earnings growth that Walter Scott & Partners believes warrant long-term investment.
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Asset allocation
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- International shares range 90 - 100%
- Cash 0% - 10%
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Inception date
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22 February 2008
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Benchmark
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MSCI World ex-Australia Index in $A dollars unhedged with net dividends reinvested
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No. of stocks
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Generally 40 - 60
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Portfolio turnover
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Approximately 15% - 25% per year
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MER
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1.28% p.a (inclusive of the net effect of GST)
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Buy/sell spread
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0.335%/0.285%
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Entry fee
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Nil
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Exit fee
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Nil
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Suggested minimum investment timeframe
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At least 5-7 years
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Minimum investment
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- Indirect investors: refer to the operator of your service
- Direct investors: minimum initial investment $50,000
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Distributions
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Paid annually as at 30 June
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* Winner: International Equities - Diversified
** Winner: International Equities – Developed Markets
Investments in the Walter Scott Global Equity Fund (Hedged) ARSN 129 574 447 ("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.
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