IOOF QuantPlus. International Equities Portfolio NZD. Quarterly update

Transcription

1 IOOF QuantPlus NZD Quarterly update For the period ended 31 March 2016

2 Contents Overview 2 Portfolio at glance 3 Performance 4 Asset allocation 6 Overview At IOOF, we have been helping Australians secure their financial future since During that time we have grown into one of Australia's leading provider of quality financial services. Through our investment management expertise, we offer a range of highly rated investment products utilising a range of investment philosophies including multi-manager, quantitative and qualitative investing as well as sector specific investments expertise through Perennial Investment Partners. The QuantPlus team at IOOF aims to achieve an optimal risk and return outcome through efficient exposure to a highly diversified portfolio of assets. They seek to obtain a premium from holding securities with different risk characteristics than those provided by the most commonly used indices by employing a quantitative process with a qualitative overlay, together with a variety of trading strategies. This report outlines the performance and asset allocation of the in New Zealand dollars previously referred to as the Plan B, International Core Equities Portfolio. 2

3 IOOF QuantPlus NZD: Quarterly update March 2016 Portfolio at a Glance The portfolio seeks to achieve long term capital growth through structured exposure to listed global equities in both developed and developing markets. The portfolio seeks returns by maintaining some exposure to firms with either smaller capitalisation or greater value, placing a lesser emphasis on smaller capitalisation firms in developing markets. To manage the risks associated with these exposures the portfolio maintains a high level of diversification. At least 80 per cent of net assets will be invested in securities or depository receipts of companies and property trusts listed on the stock exchanges of international developed and developing markets. Weighted average portfolio characteristics Portfolio Benchmark Market Cap (m NZD) 98, ,012 Price to Book Price to Earnings Price to Earnings FY Dividend Yield () Fast facts Fund Size (NZD) $625,324,092 Management Fees & Expense Inception Date Number of Holdings Benchmark Tracking error 0.33 Jun-05 3,658 MSCI All Country World ex Australia Index Upper tracking error limit for the portfolio against its benchmarks is five per cent. Composition of versus benchmark by size Large Mid Small MSCI AC World ex AU Index 3

4 Performance Gross performance 3 month 6 month 1 year 3 years pa 5 years pa 10 years pa (gross return) MSCI All Country World ex Australia Active Return Net performance 3 month 6 month 1 year 3 years pa 5 years pa 10 years pa (net return) MSCI All Country World ex Australia Active Return Performance figures are calculated using month end unit prices. Past performance is not predictive of future performance. Small discrepancies may occur due to rounding. Top ten holdings of portfolio allocation of benchmark allocation Apple Inc Exxon Mobil Corporation Microsoft Corporation General Electric Company AT&T Inc Johnson & Johnson Wells Fargo & Company JPMorgan Chase & Co Nestle S.A Taiwan Semiconductor Manufacturing Co., Ltd

5 IOOF QuantPlus NZD: Quarterly update March 2016 Contributors to the portfolio Top 10 contributors to return for the quarter Total return of share for quarter Average portfolio allocation Contribution to portfolio return AT&T Inc Exxon Mobil Corporation Taiwan Semiconductor Manufacturing Co., Ltd Verizon Communications Inc Checkpoint Systems, Inc Tyson Foods, Inc. Class A CenturyLink, Inc Apple Inc Oracle Corporation Johnson & Johnson Detractors from the portfolio Top 5 detractors from return for the quarter Total return of share for quarter Average portfolio allocation Contribution to portfolio return Bank of America Corporation HSBC Holdings plc Wells Fargo & Company JPMorgan Chase & Co Novartis AG

6 Asset allocation Holdings by region The Portfolio invests in the following countries: Developed Countries: Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States Emerging Countries: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey The following charts illustrate the percentage split of the portfolio s investment in developed versus emerging countries as compared to the MSCI All Country World Index (ex Australia). MSCI All Country World ex AU Index 9 Developed Market Emerging Market 8 Developed Market Emerging Market Allocations by region: Developed Markets MSCI AC World ex AU Index North America Western Europe Pacific Rim Middle East 6

7 IOOF QuantPlus NZD: Quarterly update March 2016 Allocations by region: Emerging Markets MSCI AC World ex AU Index 1 0 Pacific Rim Central Asia Africa South America Eastern Europe North America Western Europe Middle East Sector allocations To ensure that the remains diversified and is not over exposed to any one sector, the active weight of each GICS sector to the benchmark is maintained within ±10 per cent. The sector allocations as at the end of the reporting period are outlined below MSCI AC World ex AU Index 5 0 Financials Information Technology Consumer Discretionary Industrials Health Care Consumer Staples Energy Materials Utilities Telecommunication 7

8 This document is issued by IOOF Investment Management Limited (IIML) ABN , AFS Licence No IIML is a company within the IOOF Group of companies which consists of IOOF Holdings Ltd ABN and its related bodies corporate. IIML s contact details can be found on Past performance is not a reliable indicator of future performance. The information contained in this document is believed to be correct at the time of publication, however to the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on the information it contains. The information provided is general in nature and has been prepared without taking into account your particular objectives, financial situation and needs. Before making an investment decision based on this information, you should assess your own circumstances or consult a financial planner. QuantPlus is a trade mark of IOOF Investment Management Limited. INV-515