The Fund will attempt to achieve over the long term a total return in excess of that of the MSCI World Index (with net dividends reinvested) through investment in a concentrated portfolio of equities of predominantly large companies, selected from all the major markets and to a lesser extent from some emerging markets, worldwide. The approach is classic contrarian value, based on bottom-up fundamental research of individual companies. The average market capitalisation of companies represented within the Fund is likely to be more than US$20 billion.
| Launch date | 01 June 2005 |
|---|---|
| Domicile | Ireland |
| Structure | QIAIF |
| Base currency | USD |
| Dealing | Daily |
| Min. investment | €100,000 |
| Benchmark | MSCI World |
| Fund size | US$49.4m |
| Strategy size | US$1,487.6m |
Sam Ziff joined OP in April 2013. He was previously employed by J.P. Morgan Cazenove working in the UK Industrials Corporate Finance team for a total of 4 years. He graduated from Oxford University. He is CIO, manages the global equity portfolios, and contributes to the overall investment selection.
| Annualised | ||||||
|---|---|---|---|---|---|---|
| 1 month | YTD | 1 year | 3 years | 5 years | Launch | |
| Fund (A shares) | +3.8 | +34.7 | +34.7 | +14.5 | +7.8 | +6.0 |
| MSCI World | +0.8 | +21.1 | +21.1 | +21.2 | +12.1 | +8.8 |
| MSCI World Value | +1.7 | +20.8 | +20.8 | +14.5 | +11.3 | +6.8 |
| Annual performance | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fund (A shares) | +34.7 | -0.1 | +11.7 | -11.6 | +9.8 |
| MSCI World | +21.1 | +18.7 | +23.8 | -18.1 | +21.8 |
| MSCI World Value | +20.8 | +11.5 | +11.5 | -6.5 | +21.9 |
Performance is calculated net of all fees and expenses and on a total return basis, inclusive of all distributions to unit holders. MSCI World Value index is for comparison purposes only.
The value of all investments and the income from them can go down as well as up; this may be due, in part, to exchange rate fluctuations. Past performance is not a guide to future performance
All data as at 31 December 2025
| Industrials | 15.9 | |
| Consumer Discretionary | 12.9 | |
| Consumer Staples | 12.9 | |
| Information Technology | 11.2 | |
| Banks | 11.1 | |
| Energy | 10.2 | |
| Health Care | 7.3 | |
| Materials | 4.9 | |
| Financial Services | 4.4 | |
| Insurance | 3.7 | |
| Communication Services | 3.6 | |
| Cash | 1.9 |
| United States | 21.9 | |
| United Kingdom | 19.6 | |
| Netherlands | 15.4 | |
| Germany | 8.3 | |
| Sweden | 6.1 | |
| China/Hong Kong | 5.3 | |
| Italy | 5.0 | |
| South Korea | 4.8 | |
| Switzerland | 4.1 | |
| France | 3.8 | |
| Japan | 3.7 | |
| Cash | 1.9 |
| Heineken | 6.1 |
| Handelsbanken | 6.1 |
| CK Hutchison | 5.3 |
| NOV Inc | 5.1 |
| Lloyds | 5.0 |
| Eni | 5.0 |
| ArcelorMittal | 4.9 |
| Lear | 4.8 |
| Henkel | 4.8 |
| Samsung Electronics | 4.8 |
| Fund | Benchmark | |
|---|---|---|
| P/E ratio (fwd) | 11.3 | 21.9 |
| P/B ratio (hist) | 1.0 | 3.9 |
| Gross div. yield (fwd) | 3.2 | 1.6 |
| Active share (%)* | 99.6 |
Overstone Global Equity Fund is a constituent of Oldfield Partners Global Equity Composite.
Oldfield Partners LLP claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Oldfield Partners LLP has been independently verified for the periods 1 January 2000 to 31 December 2011 by HSBC Securities Services and from 1 January 2012 to 31 December 2023 by Ernst & Young LLP. To receive a copy of a GIPS® compliant presentation and/or a list and description of our composites, please contact us.
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