Managed Funds - Global Equities Trust

Overview

Established on 29 November 2001, the Hunter Hall Global Equities Trust (GET) is principally invested in an ethically screened global portfolio of manufacturing, service and distribution businesses. The objective of the GET is to increase the wealth of its investors by substantially outperforming the global stockmarkets, benchmarked by the MSCI World Total Return Index, Net Dividends Reinvested, in Australian Dollars (MSCI World), over the medium to long term without incurring significant risk to capital.

Key Information

Inception Date
29 November 2001
Investment Objectives
To increase the wealth of its investors by substantially outperforming the global stockmarkets, as benchmarked by the MSCI World Total Return Index, Net Dividends Reinvested, in Australian Dollars (MSCI World), over the long term without incurring significant risk to capital
Territory
International (excludes Australia and New Zealand) 
Ethical Policy
Negative screen
Recommended Investment Time Frame
5 years+
Minimum Initial Investment
$5,000
Distributions 1
30 June and 31 December
Entry Fee
4% of which all may be rebated
Nil for Class B unitholders
Management Fee 
1.50% per annum
Management Fee Rebate 2
0.35% per annum
Performance Fee
15% of any return greater than the MSCI World, payable half yearly
Advisor Remuneration 3
0.35% per annum
MER 4 to 30.06.2013
2.17% (including performance fee)
2.17% (excluding performance fee)
Regular Savings Plan
Yes - minimum $200 per month
Hedging Policy
No

1. Distributions are only payable when there is net income to distribute.

2. For Class B unitholders: The Management Fee Rebate can be accessed by wholesale investors, or by investors who access the Funds via IDPS platforms such as Master Trusts or Wraps.

3.Advisor Remuneration is a fee paid by Hunter Hall to licensed advisors from the Management Fees it earns from the GET and AVT. It is not an additional fee for investors.  

4.The Management Expense Ratio (MER) is a measurement of costs incurred by an investor who invests in an unlisted Managed Investment Scheme that would not be incurred by an investor who invests directly in the same assets as held by the Scheme. The MERs shown are based on unaudited financial statements. The Indirect Cost Ratio (ICR) measures the costs of managing the Funds' investments that are not deducted directly from an investors account, including investment-related legal costs, management and performance fees paid to the investment manager, custody fees and the net effect of any GST. For the Hunter Hall Funds the ICR equates to the Total MER.

Performance

Performance as at 30/09/2014

GET
MSCI
World
Relative
Performance
3 months
4.9%
5.5%
-0.6%
6 months
6.9%
8.7%
-1.8%
1 year
16.7%
19.9%
-3.2%
3 years
12.6%
22.1%
-9.5%
5 years
6.6%
11.1%
-4.5%
7 years
-0.6%
2.9%
-3.5%
10 Years
5.2%
5.1%
0.1%
Since inception (29.11.2001)
5.3%
2.1%
3.2%
MSCI World refers to the MSCI World Total Return Index, Net Dividend Reinvested, in A$. Investment returns have been calculated in accordance with normal industry practice utilising movements in unit price and assuming reinvestment of all distribution of income and realised profits. Past performance is no guarantee of future performance and no guarantee of future return is implied. Source: Hunter Hall.
Relative Performance Since Inception

The following chart illustrates the value of a net investment of $10,000 in the GET since its inception on 29 November 2001, compared to a net investment of $10,000 in the MSCI World. The GET figure is net of fees including, but not limited to, the management fee of 1.8% per annum and the 15% performance fee.
'MSCI World' refers to the MSCI World Total Return Index, Net Dividends Reinvested, in A$. All returns are on a pre-tax basis. Past performance is no guarantee of future performance. Source: Hunter Hall, Bloomberg.
Financial Year End Returns
Global Equities Trust (% per annum)
GET
MSCI World
Financial YTD 2014
4.9
5.5
Year to June 2014
17.4
20.3
Year to June 2013
24.2
32.8
Year to June 2012
-12.0
-0.8
Year to June 2011
2.2
3.0
Year to June 2010
7.2
5.5
Year to June 2009
-20.8
-16.3
Year to June 2008
-17.6
-21.0
Year to June 2007
18.0
8.2
Year to June 2006
31.5
20.0
Year to June 2005
9.9
0.6
Year to June 2004
33.2
19.4
Year to June 2003
-3.2
-18.3
7 Months to June 2002
-7.9
-15.0
Top Ten Holdings at 30/09/2014
Company
Main Business
Country
% of Net Assets
at Market Value
Danieli
metal processing machinery
Italy
3.0
Citigroup
bank
USA
2.7
Hyundai Greenfood
food caterer
Korea
2.7
LeoPalace21
apartment construction & management
Japan
2.6
Verizon
telecommunications
USA
2.5
Sanofi
pharmaceuticals†††††
France
2.3
Prudential Financial
insurance
USA
2.3
Take Two Interactive
interactive entertainment
USA
2.3
Gilead Science
biopharmaceuticals
USA
2.3
ING
financial services
Netherlands
2.3
Distributions

The net income of the Fund is distributed to unitholders as soon as practicable after each 30 June and 31 December.

Income distributions can be reinvested in additional units, deposited directly to a nominated bank account or mailed by cheque.

The GET's unit price has gone from $1.00, at inception on 29 November 2001, to $1.4206 at 30 June 2014. Of the 26 six-month periods over the life of the Fund, the GET has made a distribution on eight occasions.

Click here for the Distribution Report for the period to 30 June 2014.

Distribution History

Year ended
Cash per Unit
Australian
Franking Credits
(per unit)
Foreign
Tax Credits
(per unit)
Reinvestment
Price
30/06/2014
0.0000
0.0000
0.0000
0.00
31/12/2013
0.0000
0.0000
0.0000
0.00
30/06/2013
0.0000
0.0000
0.0000
0.00
31/12/2012
0.0000
0.0000
0.0000
0.00
30/06/2012
0.0000
0.0000
0.0000
0.00
31/12/2011
0.0000
0.0000
0.0000
0.00
30/06/2011
0.0000
0.0000
0.0000
0.00
31/12/2010
0.0000
0.0000
0.0000
0.00
30/06/2010
0.0000
0.0000
0.0000
0.00
31/12/2009
0.0000
0.0000
0.0000
0.00
30/06/2009
0.0000
0.0000
0.0000
0.00
31/12/2008
0.7862
0.0000
0.0000
97.64
30/06/2008
0.0000
0.0000
0.0000
0.00
31/12/2007
9.8908
0.0000
0.2635
148.65
30/06/2007
3.8109
0.0000
0.1446
166.56
31/12/2006
5.1683
0.0000
0.0545
158.38
30/06/2006
3.5486
0.0000
0.1968
149.15
31/12/2005
6.8053
0.0000
0.0199
137.88
30/06/2005
4.4043
0.0000
0.1571
121.82
31/12/2004
0.0000
0.0000
0.0000
0.00
30/06/2004
3.8368
0.0000
0.0000
114.86
31/12/2003
0.0000
0.0000
0.0000
0.00
30/06/2003
0.0000
0.0000
0.0000
0.00
31/12/2002
0.0000
0.0000
0.0000
0.00
30/06/2002
0.0000
0.0000
0.0000
0.00
31/12/2001
0.0000
0.0000
0.0000
0.00
Ratings

Morningstar

Rating: Negative
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Lonsec

Rating: Investment Grade
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Zenith

Approved
Click here to view the disclaimers regarding ratings
Certification
R.I.A.A. Logo
Responsible Investment Association Australasia (RIAA) 1

Rating: Certified
Awards
AFR Smart Investor Blue Ribbon Awards 2010
Ethical/SRI Manager
(awarded to Hunter Hall)
Money Management Lonsec Fund Manager of the Year Awards
May 2011
AFR Smart Investor Blue Ribbon Awards 2010
Best International Small Cap Shares
(awarded to Hunter Hall)
AFR Smart Investor Blue Ribbon Awards 2010
August 2010
1 Hunter Hall has been certified by RIAA according to the strict disclosure practices required under the Responsible Investment Certification Program. See www.responsibleinvestment.org for details.


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