Invesco WS Global Opportunities-Unhedged aims to provide long-term capital growth and some distributions by investing in securities listed on global sharemarkets. The fund primarily invests in global shares. The fund actively takes positions in global shares with the aim of delivering consistent returns above its benchmark.
The Global Opportunities Fund declined in value but outperformed the MSCI AC World index over the month. Information technology was a top contributor for the fund alongside industrials and financials whilst energy, communication services, and health care lagged for the fund.
The top performing stocks in the portfolio were Relx, Progressive, 3I Group, UnitedHealth, and Dollarama. Online marketplace Dollarama saw its share price rise in September after the company posted Q2 profits that surpassed expectations and it boosted its same-store sales forecast for the year. Union Pacific, Home Depot, Danaher, and Thermo Fisher were among the detractors in September.
What is Invesco WS Global Opportunities-Unhedged Invesco WS Global Opportunities-Unhedged is an Managed Funds investment product that is benchmarked against Developed -World Index and sits inside the Foreign Equity - Large Fundamental Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The Invesco WS Global Opportunities-Unhedged has Assets Under Management of 51.57 M with a management fee of 0.95%, a performance fee of 0.00% and a buy/sell spread fee of 0.25%.
How has the investment product performed recently?
The recent investment performance of the investment product shows that the Invesco WS Global Opportunities-Unhedged has returned 1.17% in the last month. The previous three years have returned 15.32% annualised and 12.59% each year since inception, which is when the Invesco WS Global Opportunities-Unhedged first started.
How is risk measured in this investment product?
There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since Invesco WS Global Opportunities-Unhedged first started, the Sharpe ratio is 0.15 with an annualised volatility of 12.59%. The maximum drawdown of the investment product in the last 12 months is -2.53% and -46.35% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.
What is the relative performance of the investment product?
Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The Invesco WS Global Opportunities-Unhedged has a 12-month excess return when compared to the Foreign Equity - Large Fundamental Index of 5.99% and -0.6% since inception.
Does the investment product produce Alpha over its Peers?
Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. Invesco WS Global Opportunities-Unhedged has produced Alpha over the Foreign Equity - Large Fundamental Index of 0.79% in the last 12 months and -0.04% since inception.
What are similar investment products?
For a full list of investment products in the Foreign Equity - Large Fundamental Index category, you can click here for the Peer Investment Report.
What level of diversification will Invesco WS Global Opportunities-Unhedged provide?
Invesco WS Global Opportunities-Unhedged has a correlation coefficient of 0.91 and a beta of 0.8 when compared to the Foreign Equity - Large Fundamental Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.
How do I compare the investment product with its peers?
For a full quantitative report on Invesco WS Global Opportunities-Unhedged and its peer investments, you can click here for the Peer Investment Report.
How do I compare the Invesco WS Global Opportunities-Unhedged with the Developed -World Index?
For a full quantitative report on Invesco WS Global Opportunities-Unhedged compared to the Developed -World Index, you can click here.
Can I sort and compare the Invesco WS Global Opportunities-Unhedged to do my own analysis?
To sort and compare the Invesco WS Global Opportunities-Unhedged financial metrics, please refer to the table above.
Has the Invesco WS Global Opportunities-Unhedged been independently verified by SMSF Mate?
This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.
How can I invest in Invesco WS Global Opportunities-Unhedged?
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Comments from SMSF Mates
SMSF Mate does not receive commissions or kickbacks from the Invesco WS Global Opportunities-Unhedged. All data and commentary for this fund is provided free of charge for our readers general information.
Performance Commentary - August 31, 2023 The Global Opportunities fund outperformed the benchmark over the month. Financials were a top contributor to the fund’s relative performance alongside consumer discretionary and industrials, whilst health care and energy lagged.
The top performing stocks in the portfolio were Progressive, Danaher, Berkshire Hathaway and Mastercard.
Progressive shares rose after Analysts said the company’s month-to-month results showed improvements.
The biggest detractors in the portfolio included Texas instruments, UnitedHealth and American Express.
Performance Commentary - July 31, 2023 The Global Opportunities in Australia fund rose in value but underperformed the MSCI AC World index over the month.
The top performing stocks in the portfolio were EOG Resources, Union Pacific and Old Dominion Freight Line.
Union Pacific shares rose in July as Analysts reacted positively to the new CEO who is expected to drive additional operating expertise and focus from the top down. The biggest detractors for the portfolio in July were Samsung Electronics, Ryanair and Progressive Corp.
Ryanair shares dropped in July after the airline company provided a cautious outlook in line with the impact of higher mortgage bills and price inflation on consumers.
Performance Commentary - June 30, 2023 The Global Opportunities in Australia fund rose in value but underperformed the MSCI AC World index over the month.
The top performing stocks in the portfolio were Old Dominion Freight Line, Netease, Amphenol and American Express. Old Dominion Freight Line rose in June alongside other transportation names as the Dow Jones Transportation Average rose by double digits in June on the back of optimism about the US economy.
The biggest detractors for the portfolio in June were Kotak Mahindra Bank, Nestle and Samsung Electronics. Kotak Mahindra Bank dropped the most in 12 months as traders took profits following the increase in it weighting in the MSCI indices. Kotak Mahindra Bank had performed well throughout April and May amid anticipation of this increase.
Performance Commentary - May 31, 2023 Global equities traded mostly within a tight range. Investor confidence was negatively impacted by declining PMIs, sticky core inflation and data out of mainland China that was largely weaker than expected. As the month progressed attention shifted towards the US debt ceiling which was clouded with uncertainty. There were pockets of outperformance, most notably with regards to tech, where investors began to consider the potential effects of AI. Conversely, weaker performance was led by more cyclical parts of the market such as financials.
The Global Opportunities in Australia fund rose in value and outperformed the MSCI AC World index over the month. 3i Group was the best performing holding due to the fund being overweight relative to the benchmark. 3i shares have been gaining since March when it announced that its largest portfolio holding company (Action) had a great start to 2023 leading many analysts to suggest that 3i’s portfolio is robust. Other strong performers that the fund included Samsung Electronics and Copart. Copart rose on news that the company had beat its revenue expectations and that the company had a positive outlook going forward. As a result of investor optimism around AI and its potential, Nvidia was the biggest detractor, this was largely because the fund was underweight relative to the benchmark.
The stock performed extremely strongly on the back of good quarterly results and upgraded medium term profit guidance. Other detractors included Nestle, EOG Resources and Berkley Group. Nestle shares declined after the surprise departure of CFO Francois-Xavier which left investors ‘disappointed’ given the fact that Roger had built an ‘effective partnership’ with Nestle CEO Mark Schneider.
Performance Commentary - April 30, 2023 The Global Opportunities in Australia fund rose in value and outperformed the MSCI AC World index over the month on unhedged basis. Kotak Mahindra Bank was the best performing holding on a relative basis, supported by a combination of good 4Q22 results and the broader rally in Indian stocks.
Other strong performers included Berkshire Hathaway and Nestle. Berkshire was boosted by the release of strong earnings from some of its key underlying holdings. Similarly, Nestle’s Q1 results were better than consensus estimates and surprised on the upside. Elsewhere, not owning Tesla was also highly favourable to relative performance as the stock fell sharply following further price cuts to its EV models.
At the other end, Texas Instruments was one of the most notable detractors. The company’s Q1 results were mostly in line with estimates but the forward guidance was slightly below consensus expectations which saw the share price come under pressure.
Performance Commentary - March 31, 2023 The Global Opportunities fund in Australia outperformed the MSCI AC World index over the month. From a geographic perspective, the US was the fund’s biggest driver of relative performance, led by Microsoft and Texas Instruments which rose as part of the broader rally in tech stocks. China was also a strong area for the fund where NetEase was a key contributor. The stock was boosted by an analyst upgrade and strong China PMI data.
The latter of which also supported stocks such as Tencent. The UK was also a bright spot for the fund, with Relx and 3i being the main drivers. Sector-wise, relative gains were driven by financials and information technology, while consumer staples also performed well. Moderate weakness came from the fund’s health care names as defensives lagged the broader market rally in what was largely a ‘risk on’ month.
Performance Commentary - January 31, 2023 The Global Opportunities in Australia fund rose in value and outperformed the MSCI AC World index over the month. From a geographic perspective, Asia Pacific was the biggest area of strength for the fund. China was the key contributor, as our gaming and internet holdings NetEase and Tencent took support from the easing regulatory environment. Our US holdings also aided relative performance, led by American Express and Nvidia. AmEx notably advanced after reporting strong 4Q earnings and an optimistic 2023 forecast, while the semiconductor manufacturer was buoyed by a broader chip rally. 3i, the London-based private equity company, was behind the strength in the fund’s UK holdings, following a significant 3Q earnings beat. Sector-wise, healthcare was the fund’s biggest contributor to relative gains this was down to our significant underweight in what was the market’s weakest absolute performer over the month. Industrials closely followed, in particular driven by Ryanair after the airline operator boosted its full-year profit forecast following strongerthan-expect demand over Christmas.
The consumer staples name, L’Or al, jumped amid a broader rally of France’s luxury stocks on softer-than-expected inflation and China optimism. However, further gains were held back by our underweight consumer discretionary which outperformed in January, and our materials names modestly lagged
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