Tyndall/Suncorp global share fund review
Tyndall/Suncorp Investment Management has undertaken a review of its World Equities Trust, halving the number of stocks held and altering the fund manager line-up, among other changes.
The number of stocks held in the fund has been reduced from over 1,000 to just under 500, and the trust now has a new fund manager line-up: Walter Scott & Partners, Principal Global Investors, Epoch Investment Partners, Davis Advisors, and Schroders.
Portfolio manager Ken Ostergaard said the new line-up reduces the level of manager correlation as well as stock overlap.
Tyndall/Suncorp Investment Management managing director Brett Himbury said the review resulted in a reduction in excessive diversification, while also eliminating the fund’s overweight position in small caps and the bias towards growth stocks. The World Equities Trust now has an increased weighting to emerging markets, with Ostergaard believing these markets will continue to grow in significance in coming years.
The trust is the underlying investment fund for all Suncorp retail global share funds.
Recommended for you
Advice firm Apt Wealth Partners has appointed Andrew Dunbar to lead the firm in its next growth phase, while former CEO James McGregor will step up as executive chair to focus on M&A plans.
The use of offshore service providers could be exposing clients to potential risks around confidentiality, operational disruption, or effective supervision, ASIC has warned financial advice licensees.
With the adviser education pathway deadline less than three months away, Padua Wealth Data is predicting a “very unstable last quarter” after three months of solid net growth and new entrants.
ASIC has banned the former CEO of Lighthouse Partners from providing financial services for 10 years after failing to report fees-for-no-service conduct, the second individual banning from this firm.
