The objective of the Fund is to attempt to achieve over the long term a total return in excess of that of the MSCI World Small and Mid Cap Index (with net dividends reinvested). The Fund seeks to achieve its objective through investment in a concentrated portfolio of equity and equity-related securities of primarily small and medium-sized companies, selected from all the major markets and to a lesser extent from emerging markets worldwide. The approach is focussed on valuations and bottom-up fundamental research of individual companies.
| Launch date | 01 October 2007 |
|---|---|
| Domicile | Ireland |
| Structure | UCITS |
| Base currency | USD |
| Dealing | Daily |
| Benchmark | MSCI World Small Mid Cap |
| Fund size | £37.7m |
| Strategy size | £37.7m |
Harry joined OP in August 2011. He was previously employed by Herald Investment Management as a research analyst covering the media sector for a total of 5 years. He graduated from Newcastle University, and is a CFA Charterholder. He manages global smaller companies portfolios, and contributes to the overall investment selection.
| Cumulative | Annualised | ||||||
|---|---|---|---|---|---|---|---|
| 1 month | YTD | 1 year | 3 years | 5 years | Launch* | Launch* | |
| Fund (I shares) | -1.4 | +20.1 | +26.6 | +64.1 | +81.8 | +313.0 | +10.9 |
| MSCI World Small Mid Cap | +1.6 | +6.0 | +10.5 | +24.4 | +61.0 | +324.1 | +11.1 |
| IA Global Sector | +0.3 | +5.7 | +9.6 | +29.6 | +54.8 | - | - |
| Annual performance | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Fund (I shares) | -1.1 | +23.4 | -6.4 | +8.5 | +4.5 |
| MSCI World Small Mid Cap | +11.7 | +9.6 | -9.3 | +17.7 | +12.5 |
| IA Global Sector | +21.0 | +17.3 | -8.4 | +22.9 | +12.6 |
Performance is calculated net of all fees and expenses and on a total return basis, inclusive of all distributions to unit holders. The Class I shares (I USD) launched on 01 October 2009. Please see note below for performance prior to 2016. *Reflects the period from when Harry Fraser became portfolio manager of the Global Smaller Companies strategy on 01 January 2012. The IA Global Sector 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
| Consumer Discretionary | 26.1 | |
| Consumer Staples | 17.0 | |
| Industrials | 13.8 | |
| Energy | 13.3 | |
| Diversified Financials | 7.5 | |
| Communication Services | 6.8 | |
| Health Care | 4.1 | |
| Banks | 3.8 | |
| Information Technology | 2.3 | |
| Real Estate | 1.7 | |
| Utilities | 1.6 | |
| Insurance | 0.9 | |
| Materials | 0.9 | |
| Cash | 0.1 |
| United Kingdom | 29.8 | |
| Germany | 11.3 | |
| Japan | 10.4 | |
| South Korea | 10.4 | |
| China/Hong Kong | 10.2 | |
| United States | 6.1 | |
| Poland | 4.7 | |
| France | 4.4 | |
| Canada | 4.0 | |
| Greece | 3.8 | |
| Turkey | 2.3 | |
| Italy | 1.4 | |
| Switzerland | 1.2 | |
| Cash | 0.1 |
| J D Wetherspoon | 8.5 |
| First Pacific | 7.8 |
| Hellofresh | 7.3 |
| Serica Energy | 7.2 |
| Jet2 | 6.7 |
| ZIGExN | 4.9 |
| Warsaw Stock Exchange | 4.7 |
| Trigano | 4.4 |
| SK Square | 4.3 |
| Draegerwerk Pref | 4.1 |
| Fund | Benchmark | |
|---|---|---|
| P/E ratio (fwd) | 8.1 | 17.4 |
| P/B ratio (hist) | 1.2 | 2.2 |
| Gross div. yield (fwd) | 3.1 | 2.3 |
| Active share (%)* | 99.9 |
The Overstone UCITS Fund plc applies the UK Stewardship Code Statement of Oldfield Partners LLP as its shareholder engagement policy.
The Overstone UCITS Global Smaller Companies Fund is a constituent of the Oldfield Partners Smaller Companies 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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