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AUM 29.07.2022
Active Share is a measure of the percentage of stock holdings in a fund that differ from the benchmark index
The Fund’s investment objective is to achieve capital appreciation through selective investment in global equities.
Bottom-up stock selection process, across all listed markets and all market capitalisations, targeting wealth-creating companies which are attractively priced and which are enjoying positive business and share price momentum.
Nick was the CEO at Dalton Strategic Partnership when it was acquired by Polar Capital in 2021. He started there in 2010, joining from Origin Asset Management where he was a founding and managing partner and a global equity portfolio manager. Prior to this, he was head of equities at Investec Asset Management where he was responsible for managing the London equity team and global equity portfolios. He originated the company’s 4Factor™ process on his arrival from Schroder Investment Management where he was a director and global head of research, responsible for over 100 equity analysts around the world. He also managed equity funds, having joined as an investment analyst in 1990.
Ben joined Dalton Strategic Partnership, which was acquired by Polar Capital in 2021, in June 2010 to advise on risk and to assist Nick Mottram in launching and managing the firm's global equity strategy. Prior to joining the firm he worked at FactSet Research Systems, with a focus on portfolio analytics, risk and quantitative products.
Please click on each country to see share class availability
Important Information: This document is provided for the sole use of the intended recipient and is not a financial promotion. Melchior Global Equity Fund (the “Fund”) is a sub-fund of Melchior Selected Trust (MST) which is an investment company organised under the laws of the Grand Duchy of Luxembourg as a Société d'Investissement à Capital Variable (SICAV). It is governed by Part I of the 2010 Law and qualifies as a UCITS within the meaning of Article 1 (2) of the UCITS Directive. Polar Capital LLP is the investment manager of the Melchior Selected Trust. ONE fund management S.A. Registered Address: 4 rue Peternelchen, Cubus C3, L-2370 Howald, Luxembourg, acts as the management company and is regulated by the Commission de Surveillance du Secteur Financier (“CSSF”). This document has been prepared by Polar Capital for informational purposes only for the sole use of the intended recipient. It does not seek to make any recommendation to buy or sell any particular security (including shares in the Fund) or to adopt any specific investment strategy. This document does not contain information material to an investor’s decision to invest in the Fund. Shares in the Fund are offered only on the basis of information contained in the prospectus, key investor information document (“KIID”), and the latest annual audited accounts. Copies are available free of charge from Polar Capital at the below address or on www.polarcapital.co.uk. The KIID is available in Danish, Dutch, English, French, German, Italian, Norwegian, Spanish and Swedish. The prospectus is available in English.
Third-party Data: Some information contained herein has been obtained from third party sources and has not been independently verified by Polar Capital. Neither Polar Capital nor any other party involved in or related to compiling, computing or creating the data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any data contained herein.
Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.
Benchmark: The Fund is actively managed and uses the MSCI AC World Total Return Net Index as a performance target and to calculate the performance fee. The benchmark has been chosen as it is generally considered to be representative of the investment universe in which the Fund invests. The performance of the Fund is likely to differ from the performance of the benchmark as the holdings, weightings and asset allocation will be different. Investors should carefully consider these differences when making comparisons. Further information about the benchmark can be found http://www.msci.com/. The benchmark is provided by an administrator on the European Securities and Markets Authority (ESMA) register of benchmarks which includes details of all authorised, registered, recognised and endorsed EU and third country benchmark administrators together with their national competent authorities.
Country Specific Disclaimers It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor MST shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of MST or share class is available in all jurisdictions.
Source & Copyright: ©2022 Morningstar. All Rights Reserved. Rating representative of the F GBP Acc Share Class, as at 30/06/2022. Ratings may vary between share classes. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For more detailed information about the Morningstar Rating or Morningstar Analyst rating, including its methodology, please go to: http://corporate1.morningstar.com/AnalystRating/.
Invalid Dates
Update chart| Since Launch | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1m | 3m | YTD | 1yr | 3yrs | 5yrs | 10yrs | Cumulative | Annualised | |
| GBP Class F Acc | 6.47 | -0.43 | -16.84 | -12.13 | 24.86 | 43.46 | 220.99 | 267.38 | 11.46 |
| Index | 6.77 | 1.19 | -4.95 | 2.27 | 28.59 | 58.17 | 214.62 | 255.61 | 11.15 |
Source: Northern Trust Global Services SE (Luxembourg), monthly percentage growth, GBP and has been calculated to account for the deduction of fees. Fund performance does not take account of any commissions or costs incurred by investors when subscribing for or redeeming shares. The GBP Class F Acc was launched on 12 June 2015. The performance before 12 June 2015 relates to the Melchior Global Equity Fund, which was a constituent of our UK OEIC, Melchior Investment Funds. The index performance figures are sourced from Bloomberg and are in GBP terms. These figures refer to the past. Investments in funds are subject to risk. Past performance is not a reliable indicator of future returns. The money invested in a fund can increase and decrease in value and past performance is not a reliable indicator that you will get back the full amount invested. The performance calculation is based on GBP. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency.
| 12 months to | 29.07.22 | 30.07.21 | 31.07.20 | 31.07.19 | 31.07.18 |
|---|---|---|---|---|---|
| GBP Class F Acc | -12.13 | 34.57 | 5.60 | 3.51 | 11.00 |
| Index | 2.27 | 25.73 | 0.01 | 10.29 | 11.53 |
Please click on each country to see share class availability
Important Information: This document is provided for the sole use of the intended recipient and is not a financial promotion. Melchior Global Equity Fund (the “Fund”) is a sub-fund of Melchior Selected Trust (MST) which is an investment company organised under the laws of the Grand Duchy of Luxembourg as a Société d'Investissement à Capital Variable (SICAV). It is governed by Part I of the 2010 Law and qualifies as a UCITS within the meaning of Article 1 (2) of the UCITS Directive. Polar Capital LLP is the investment manager of the Melchior Selected Trust. ONE fund management S.A. Registered Address: 4 rue Peternelchen, Cubus C3, L-2370 Howald, Luxembourg, acts as the management company and is regulated by the Commission de Surveillance du Secteur Financier (“CSSF”). This document has been prepared by Polar Capital for informational purposes only for the sole use of the intended recipient. It does not seek to make any recommendation to buy or sell any particular security (including shares in the Fund) or to adopt any specific investment strategy. This document does not contain information material to an investor’s decision to invest in the Fund. Shares in the Fund are offered only on the basis of information contained in the prospectus, key investor information document (“KIID”), and the latest annual audited accounts. Copies are available free of charge from Polar Capital at the below address or on www.polarcapital.co.uk. The KIID is available in Danish, Dutch, English, French, German, Italian, Norwegian, Spanish and Swedish. The prospectus is available in English.
Third-party Data: Some information contained herein has been obtained from third party sources and has not been independently verified by Polar Capital. Neither Polar Capital nor any other party involved in or related to compiling, computing or creating the data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any data contained herein.
Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.
Benchmark: The Fund is actively managed and uses the MSCI AC World Total Return Net Index as a performance target and to calculate the performance fee. The benchmark has been chosen as it is generally considered to be representative of the investment universe in which the Fund invests. The performance of the Fund is likely to differ from the performance of the benchmark as the holdings, weightings and asset allocation will be different. Investors should carefully consider these differences when making comparisons. Further information about the benchmark can be found http://www.msci.com/. The benchmark is provided by an administrator on the European Securities and Markets Authority (ESMA) register of benchmarks which includes details of all authorised, registered, recognised and endorsed EU and third country benchmark administrators together with their national competent authorities.
Performance: The performance shown has been calculated to account for the deduction of fees and expenses and includes the reinvestment of dividends and capital gain distributions. £ or GBP/US$/JPY/EUR/CHF = Currency abbreviations of: British Pound sterling/US Dollar/Japanese Yen/Euro/Swiss Franc, respectively.
Risk: Factors affecting fund performance may include changes in market conditions (including currency risk) and interest rates, as well as other economic, political, or financial developments. The Fund’s investment policy allows for it to enter into derivatives contracts. Leverage may be generated through the use of such financial instruments and investors must be aware that the use of derivatives may expose the Fund to greater risks, including, but not limited to, unanticipated market developments and risks of illiquidity, and is not suitable for all investors. Past performance is not a guide to or indicative of future results. Future returns are not guaranteed and a loss of principal may occur. Polar Capital may also receive a performance fee based on the appreciation in the NAV per share and accordingly the performance fee will increase with regard to unrealised appreciation, as well as realised gains. The performance fee may create an incentive for Polar Capital to make investments for MST which are riskier than would be the case in the absence of a fee based on the performance of MST.
Country Specific Disclaimers It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor MST shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of MST or share class is available in all jurisdictions.
| Microsoft | 3.7 |
| UnitedHealth Group | 2.6 |
| Thermo Fisher Scientific | 2.4 |
| Apple | 2.2 |
| Synopsys | 2.2 |
| Arthur J Gallagher & Co | 2.1 |
| BP | 2.1 |
| AutoZone | 2.0 |
| Accenture | 2.0 |
| Alphabet | 1.8 |
| Total |
| Large Cap (>US$10bn) | 77.6 | |
| Mid Cap (US$1 - 10bn) | 17.3 | |
| Small Cap (<US$1bn) | 0.6 | |
| Cash | 4.6 |
| US & Canada | 61.8 | |
| Europe (ex UK) | 12.9 | |
| Asia Pac (ex-Japan) | 8.9 | |
| Japan | 6.5 | |
| UK | 5.3 | |
| Cash | 4.6 | |
| Information Technology | 24.5 | |
| Healthcare | 14.6 | |
| Financials | 13.8 | |
| Consumer Discretionary | 13.1 | |
| Industrials | 8.9 | |
| Consumer Staples | 5.6 | |
| Energy | 4.5 | |
| Materials | 3.7 | |
| Communication Services | 2.9 | |
| Utilities | 2.5 | |
| Real Estate | 1.3 | |
| Cash | 4.6 | |
Note: Totals may not sum due to rounding.
It should not be assumed that recommendations made in future will be profitable or will equal performance of the securities in this document. A list of all recommendations made within the immediately preceding 12 months is available upon request.
Please click on each country to see share class availability
Important Information: This document is provided for the sole use of the intended recipient and is not a financial promotion. Melchior Global Equity Fund (the “Fund”) is a sub-fund of Melchior Selected Trust (MST) which is an investment company organised under the laws of the Grand Duchy of Luxembourg as a Société d'Investissement à Capital Variable (SICAV). It is governed by Part I of the 2010 Law and qualifies as a UCITS within the meaning of Article 1 (2) of the UCITS Directive. Polar Capital LLP is the investment manager of the Melchior Selected Trust. ONE fund management S.A. Registered Address: 4 rue Peternelchen, Cubus C3, L-2370 Howald, Luxembourg, acts as the management company and is regulated by the Commission de Surveillance du Secteur Financier (“CSSF”). This document has been prepared by Polar Capital for informational purposes only for the sole use of the intended recipient. It does not seek to make any recommendation to buy or sell any particular security (including shares in the Fund) or to adopt any specific investment strategy. This document does not contain information material to an investor’s decision to invest in the Fund. Shares in the Fund are offered only on the basis of information contained in the prospectus, key investor information document (“KIID”), and the latest annual audited accounts. Copies are available free of charge from Polar Capital at the below address or on www.polarcapital.co.uk. The KIID is available in Danish, Dutch, English, French, German, Italian, Norwegian, Spanish and Swedish. The prospectus is available in English.
Third-party Data: Some information contained herein has been obtained from third party sources and has not been independently verified by Polar Capital. Neither Polar Capital nor any other party involved in or related to compiling, computing or creating the data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any data contained herein.
Holdings: Portfolio data is “as at” the date indicated and should not be relied upon as a complete or current listing of the holdings (or top holdings) of the fund. The holdings may represent only a small percentage of the aggregate portfolio holdings, are subject to change without notice, and may not represent current or future portfolio composition. Information on particular holdings may be withheld if it is in the fund’s best interest to do so. A historic complete list of the portfolio holdings may be made available upon request. It should not be assumed that recommendations made in future will be profitable or will equal performance of the securities in this document. A list of all recommendations made within the immediately preceding 12 months is available upon request. This document is designed to provide updated information to professional investors to enable them to monitor the Fund. No other persons should rely upon it. The information provided in this document should not be considered a recommendation to purchase or sell any particular security.
Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.
Benchmark: The Fund is actively managed and uses the MSCI AC World Total Return Net Index as a performance target and to calculate the performance fee. The benchmark has been chosen as it is generally considered to be representative of the investment universe in which the Fund invests. The performance of the Fund is likely to differ from the performance of the benchmark as the holdings, weightings and asset allocation will be different. Investors should carefully consider these differences when making comparisons. Further information about the benchmark can be found http://www.msci.com/. The benchmark is provided by an administrator on the European Securities and Markets Authority (ESMA) register of benchmarks which includes details of all authorised, registered, recognised and endorsed EU and third country benchmark administrators together with their national competent authorities.
Allocations: The strategy allocation percentages set forth in this document are estimates and actual percentages may vary from time-to-time. The types of investments presented herein will not always have the same comparable risks and returns. Please see the private placement memorandum for a description of the investment allocations as well as the risks associated therewith. Please note that the Fund may elect to invest assets in different investment sectors from those depicted herein, which may entail additional and/or different risks. Performance of the Fund is dependent on the Investment Manager’s ability to identify and access appropriate investments, and balance assets to maximize return to the Fund while minimizing its risk. The actual investments in the Fund may or may not be the same or in the same proportion as those shown herein.
Country Specific Disclaimers It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor MST shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of MST or share class is available in all jurisdictions.
Please click on each country to see share class availability
Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.
Country Specific Disclaimers It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor MST shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of MST or share class is available in all jurisdictions.
| Bloomberg | ISIN | SEDOL | Annual Management Fee | ||
|---|---|---|---|---|---|
| GBP Class F Acc | MSGEI7G LX | LU1205353409 | BWFQSW4 | 0.25% | - |
| Melchior Selected Trust - Melchior Global Equity Fund | 549300PO3KVY8WPPCQ94 |
| Polar Capital LLP | 4YW3JKTZ3K1II2GVCK15 |
Please click on each country to see share class availability
Information Subject to Change: The information contained herein is subject to change, without notice, at the discretion of Polar Capital and Polar Capital does not undertake to revise or update this information in any way.
Country Specific Disclaimers It is the responsibility of any person/s in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction. Neither Polar Capital nor MST shall be liable for, and accept no liability for, the use or misuse of this document. If such a person considers an investment in Shares of the Fund, they should ensure that they have been properly advised about the suitability of an investment. Please be aware that not every sub-fund of MST or share class is available in all jurisdictions.
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