The Brandywine Global Opportunistic Equity Fund (the Fund) is a PIE-compliant New Zealand-domiciled fund. FundRock NZ Ltd is the issuer and manager of the Fund. The Fund is registered as an offer within a Managed Investment Scheme under the Financial Markets Conduct Act 2013 and is regulated by the FMA.
The Fund gains exposure to a diversified portfolio of global equities and cash. The investment objective of the Fund is to earn a return before fees and taxes in excess of the MSCI All Country World Index NR, in New Zealand dollar terms, over the medium to long term.
The Equity Fund invests into an actively managed portfolio of global equity and equity-related securities such as convertible securities (excluding contingent convertible securities), warrants, American depositary receipts (ADRs), global depositary receipts (GDRs), and preferred stock, including from emerging market issuers. Further details are contained in the OMI and Statement of Investment Policy and Objectives (“SIPO”). The Equity Fund may, from time to time, use derivatives to hedge foreign currency risk.
The significant benefits of investing in the Funds are:
- Diversification and scale. By pooling the money of all investors in a Fund, we can give investors exposure to a more widely diversified portfolio of underlying assets than they may be able to access themselves and chosen on the basis of fundamental company research and macroeconomic insights of the investment manager. This increased diversification can reduce risk. In addition, the scale of each Fund allows us to lower costs by negotiating better prices with service providers.
- Professional investment management. Franklin Templeton Australia Limited (“Franklin Templeton”) is the investment manager. Franklin Templeton has sub-contracted investment management to Brandywine Global Investment Management LLC (“Brandywine Global”). Brandywine Global was founded in 1986 by a group of highly experienced portfolio managers. They are an active specialist manager in fixed income, equity, and alternative investments headquartered in Philadelphia, USA. Value investing is core to Brandywine Global’s investment approach. Through a value-driven process, they focus on assets in countries and currencies that meet their definition of value, and advance this with a benchmark agnostic investment style. Brandywine Global is not afraid to uncover investment potential where others see risk with a central objective to maximise risk adjusted returns over an investment cycle. Acting with conviction and discipline, they thrive on a culture of debate that encourages ideas, diverse viewpoints and invite candid discussion. Franklin Templeton and Brandywine Global are part of the Franklin Resources, Inc. group operating as Franklin Templeton.
Investment Manager
Franklin Templeton Australia Limited
Investment Objectives
The investment objective of the Fund is to earn a return before fees and taxes in excess of the MSCI All Country World Index NR, in New Zealand dollar terms, over the medium to long term.
Investment Manager strategy
- Franklin Templeton selects underlying funds and/or appoints investment managers.
- The current investment manager appointed by Franklin Templeton is Brandywine Global.
- The Equity Fund invests in a diversified portfolio of equity securities listed on recognised stock markets
in both developed and emerging markets around the world. - The Equity Fund generally aims to ensure that:
- typically, between 60-100 securities are held;
- no more than 5% of its NAV is invested in any one security at the time of purchase; and
- no more than 30% of its NAV is invested in emerging market countries at time of purchase.
Benchmark
MSCI All Country World Index NR, in New Zealand dollar terms
