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The Multi-Manager global equity strategy has four underlying managers WCM Investment Management, Royal London Asset Management, Nikko Asset Management Europe Ltd and JP Morgan Asset Management. These managers select companies from around the world covering a diverse range of regions and sectors. The appointed global managers are responsible for the investment management of the assets. The multi-manager global equity strategy managed by Yarra Capital Management.
This fund combines four underlying managers WCM Investment Management, Royal London Asset Management, Nikko Asset Management Europe Ltd and JP Morgan Asset Management. Each manager selects companies from around the world covering a diverse range of regions and sectors based on their own investment process. The result is a portfolio that holds around 150-170 companies. The multi-manager global equity strategy is managed by Yarra Capital Management.
Risk Indicator (volatility)
Target Asset Allocation
This number indicates the relative 'risk' level of this fund based on the types of assets it is invested in, ranging from level 1 (least risky) to 7 (most risky).
| Risk category | Description of volatility |
| 1 | Very low |
| 2 | Low |
| 3 | Medium |
| 4 | Medium to High |
| 5 | High |
| 6 | Very high |
| 7 | Extremely high |
The risk indicators are calculated using returns of the funds, the returns of the fund’s market index or a combination of both, for the previous five years. Index returns or a mix are used if the fund has existed for less than five years. All Managers are required to use the same methodology so you can compare the risk of different funds if you are researching more than one manager.
| One month | Three months | One year | Three years (p.a) | Five years (p.a) | |
|---|---|---|---|---|---|
| Fund performance1 | 2.01% | 12.47% | 14.98% | 15.69% | 13.00% |
| Appropriate Market Index (AMI)2 | 2.18% | 11.95% | 14.38% | 13.81% | 11.85% |
AMI (appropriate market index) is a theoretical portfolio with similar underlying assets as the fund. This allows investors to see a comparison of how the value of those assets have changed in the market relative to the fund.
| Security Name | Percentage |
|---|
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Commentary
As of 31 July 2025
Royal London, WCM and NAME all underperformed in July – Royal London lagged the most, underperforming by -1.3%. The JP Morgan Global Select strategy however managed to buck the trend and outperformed by 1.2%.
From a performance attribution perspective for the overall fund, security selection within the information technology sector was the key positive contributor. However, it wasn’t enough to offset the negative impact from security selection in the financials, healthcare and communication services sectors. An overweight position in the poorly performing healthcare sector was the most significant negative sector allocation effect.
At the individual security level, the fund benefitted most from overweight exposures to technology names such as Amazon.com, Microsoft, Synopsis. Amazon highlighted major AI innovations, including Alexa+ and Bedrock AgentCore, and held its biggest Prime Day ever, ahead of their Q2 results announced on 1st August. Microsoft rose more than 10%, after posting a strong Q4 FY25, with revenue up 18% to US$76.4 billion and net income rising 24% to US$27.2 billion. Azure revenue surpassed US$75 billion for the year, growing 34%. Synopsys, a provider of electronic design automation (EDA) software that engineers use to design and test integrated circuits (ICs), delivered robust Q2 FY25 results, with revenue of US$1.6 billion and adjusted EPS of US$3.67, both exceeding guidance. Growth was driven by AI, silicon complexity, and software-defined systems, reconfirming Synopsys as a key enabler in the semiconductor design ecosystem.
The fund’s key detractors from performance over the month were nil exposures to top performing names such as Alphabet Class C, Advanced Micro Devices and Palantir Technologies.