The Fund will attempt to achieve over the long term a total return in excess of that of the MSCI ACWI Index (with net dividends reinvested) through investment in a concentrated portfolio of equity securities. The approach is classic contrarian value, based on bottom-up fundamental research of individual companies.
| Launch date | 01 January 2025 |
|---|---|
| Domicile | Ireland |
| Structure | UCITS |
| Base currency | USD |
| Dealing | Daily |
| Min. investment | £10,000 |
| Benchmark | MSCI All Countries World |
| Fund size | US$17.3m |
Richard Oldfield founded Oldfield Partners LLP in 2005, after 9 years as chief executive of a family investment office. Before this, he was director of Mercury Asset Management plc, which he joined in 1977. He was Chairman of the Oxford University investment committee and the first chairman of Oxford University Endowment Management Ltd from 2007-2014.
He is now chairman of Shepherd Neame Ltd, and trustee of a number of charities. The second edition of his book “Simple But Not Easy”, a “slightly autobiographical and heavily biased” book about investing, was published by Harriman House in December 2021.
| Annualised | ||||||
|---|---|---|---|---|---|---|
| 1 month | YTD | 1 year | 3 years | 5 years | Launch* | |
| I USD | -14.2 | -3.8 | +28.0 | - | - | +30.7 |
| MSCI ACWI | -7.2 | -3.2 | +20.0 | - | - | +14.5 |
| Annual performance | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| I USD | +45.2 | - | - | - | - |
| MSCI ACWI | +22.3 | - | - | - | - |
Performance is calculated net of all fees and expenses and on a total return basis, inclusive of all distributions to unit holders. Charges and expenses are deducted from Capital. *Reflects the period from when Richard Oldfield became portfolio manager of the strategy, on 01 January 2025.
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 March 2026
| Financial Services | 20.8 | |
| Industrials | 17.8 | |
| Consumer Discretionary | 16.6 | |
| Materials | 12.6 | |
| Consumer Staples | 12.6 | |
| Energy | 5.6 | |
| Information Technology | 5.2 | |
| Communication Services | 4.1 | |
| Health Care | 3.1 | |
| Cash | 1.6 |
| United Kingdom | 35.9 | |
| United States | 11.6 | |
| Netherlands | 10.9 | |
| Canada | 9.7 | |
| Japan | 9.1 | |
| Germany | 7.0 | |
| Philippines | 4.9 | |
| Indonesia | 3.3 | |
| China/Hong Kong | 3.3 | |
| South Korea | 2.6 | |
| Cash | 1.6 |
| Diageo | 7.5 |
| Fairfax India | 5.8 |
| NOV Inc | 5.6 |
| Kyocera | 5.2 |
| Ayala Corporation | 4.9 |
| Barratt Redrow | 4.9 |
| Rio Tinto | 4.5 |
| RIT | 4.4 |
| ArcelorMittal | 4.2 |
| PayPal | 4.2 |
| Fund | Benchmark | |
|---|---|---|
| P/E ratio (fwd) | 7.6 | 17.7 |
| P/B ratio (hist) | 0.7 | 3.4 |
| Gross div. yield (fwd) | 2.8 | 1.8 |
| Active share (%)* | 99.6 |
The Fund will attempt to achieve over the long term a total return in excess of that of the MSCI ACWI Index (with net dividends reinvested) through investment in a concentrated portfolio of equity securities. The approach is classic contrarian value, based on bottom-up fundamental research of individual companies.
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