Funds to watch assets under management
Orbis Global Equity is a Silver-rated fund from Morningstar’s list of rated global equity funds. William Gray is the named manager on this fund but the investment process is reliant on the work and support of the analyst team. The portfolio construction is based on a bottom-up approach with a value bias.
Veritas Global Focus is rated Gold by Morningstar and benefits from two experienced managers, Charles Richardson (pictured) and Andrew Headley, who have been at the helm since launch in 2006. The managers aim to deliver real returns to investors. Preservation and growth of capital are considered more important than benchmark risk. The managers use a thematic framework to help identify global industries set to benefit from long-term structural drivers.
The increased importance of index funds is particularly noticeable on this list as Vanguard Global Stock Index and BlackRock ISF Developed World Index are the two largest offerings here. This reflects the greater awareness of investors to the cost of investing in actively managed funds and hence becoming more attracted to low-cost options. Investors may also have lost patience with actively managed funds who have found the heightened market volatility in recent years to be a headwind to outperformance.
