Antipodes Global Fund (PIE)

FundRock NZ Limited acts as the Manager of the Antipodes Global Fund (PIE), while Antipodes Partners undertakes the role of Investment Manager. The fund was registered under the Financial Markets Control Act 2013 in New Zealand on 23 July 2018. The aim of the fund is to achieve absolute returns in excess of the MSCI All Country World Net Index in New Zealand dollars over a typical investment cycle of 3-5 years.

Fund and investment manager

How do we operate?

  • The Fund invests in the Antipodes Global Fund – UCITS (Underlying Fund) and cash or cash equivalent securities. The Underlying Fund’s investment exposure is predominantly to a broad range of international shares listed on stock exchanges in developed and emerging markets. Derivatives, including equity shorts and currency positions may be used where the Investment Manager sees attractive opportunities and also to offset specific unwanted portfolio risks and provide some protection from unexpectedly large movements in the value of the portfolio. Derivatives may also be used to amplify positions where the Investment Manager feels strongly about the return potential of an idea. In using derivatives, the Underlying Fund’s total gross exposure may be leveraged to a maximum of 200% of the Net Asset Value. The Underlying Fund’s net exposure will be within a range of 50% to 100% of its Net Asset Value.
  • Given the Fund’s broad mandate and wide range of tools available, its investment performance will depend, to a larger degree than traditional equity investment funds, on Antipodes’ skill in selecting, combining and implementing investment decisions.
  • These features mean that the Fund will not be appropriate for all investors.

For further information on Antipodes Global Fund (PIE), please download and read our Product Disclosure Statement available for download here.

Key facts

Net performance

Performance chart

Cumulative performance (over selected time horizon)

All returns are net of fees and in NZD terms. Calculations are based on exit price with distributions reinvested, after ongoing fees and expenses but excluding taxation. Inception date of the Antipodes Global Fund (PIE) was 25 July 2018. Past performance is not a reliable indicator of future performance.

Unit price & distribution history

Portfolio profile as at 30th April 2024

Top 10 equity longs (%)

Sector exposure (%)2

Currency exposure (%)1, 3

Regional exposure (%)1, 3

1 Where possible, regions, countries and currencies classified on a look through basis. 2 GICS Classification. 3 Antipodes Partners classification.

Monthly updates

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Quarterly updates

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How to invest