Overview

The WCM Quality Global Growth Fund (WCMQ or the Fund) is an exchange traded managed fund investing in global equities.

The Fund provides investors with access to an actively managed portfolio of quality global companies found primarily in the high growth consumer, technology and healthcare sectors.

The portfolio is managed by WCM Investment Management (WCM), a California-based specialist global equity firm with an outstanding long-term investment track record.

WCM's investment process is based on the belief that corporate culture is the biggest influence on a company's ability to grow its competitive advantage or 'moat'. This process has resulted in WCM's Quality Global Growth strategy outperforming the MSCI World Index by an annualised 5.2% per annum over the past decade, with total firm assets under management growing to over $35 billion.

Switzer Asset Management Limited is the responsible entity for WCMQ.

Fund Objectives

  • To exceed the benchmark MSCI All Country World Index ex-Australia before taxes and fees over rolling three-year time periods, and
  • to experience lower volatility than the benchmark.

Benefits

Proven world-class manager Unique investment process
Active all-weather portfolio Focused and low-turnover portfolio
ASX-trading and CHESS statements Track your investment in real time
Download an
Information Pack

More Information

 

Overview

More Information

 

The WCM Quality Global Growth Fund (WCMQ or the Fund) is an exchange traded managed fund investing in global equities.

The Fund provides investors with access to an actively managed portfolio of quality global companies found primarily in the high growth consumer, technology and healthcare sectors.

The portfolio is managed by WCM Investment Management (WCM), a California-based specialist global equity firm with an outstanding long-term investment track record.

WCM's investment process is based on the belief that corporate culture is the biggest influence on a company's ability to grow its competitive advantage or 'moat'. This process has resulted in WCM's Quality Global Growth strategy outperforming the MSCI World Index by an annualised 5.2% per annum over the past decade, with total firm assets under management growing to over $35 billion.

Switzer Asset Management Limited is the responsible entity for WCMQ.

Fund Objectives

  • To exceed the benchmark MSCI All Country World Index ex-Australia before taxes and fees over rolling three-year time periods, and
  • to experience lower volatility than the benchmark.

Benefits

Proven world-class manager Unique investment process
Active all-weather portfolio Focused and low-turnover portfolio
ASX-trading and CHESS statements Track your investment in real time
Download an
Information Pack

Key Fund Info

Fund Facts

Key Fund Facts

ASX Code WCMQ
Responsible Entity Switzer Asset Management
Investment Manager WCM Investment Management
Benchmark MSCI All Country World Index ex-Australia
Management & Administration fee 1.35%
Performance Fee 10% excess return above the Benchmark after Management Fee

Investment Guidelines

Global listed equities 93% - 100%
Cash 0% - 7%
Australian listed equities 0%

Portfolio Characteristics

Asset allocation

Top 10 Holdings

Stock Weight %
Costco Wholesale 3.7
Visa Inc 3.7
The Cooper Companies 3.3
Boston Scientific 3.3
West Pharmaceutical Services 3.1
Steris 3.0
Amphenol 3.0
First Republic Bank 3.0
Keyance 2.9
Amazon 2.9

Data at 31 October 2018.

Performance

Performance of $100 invested in WCMQ

Value of $100 invested in the WCMQ Quality Global Growth since inception (3 September 2018). Data as at 28 September 2018.

Performance Breakdown (after fees but before taxes)

1 Month 3 Month 6 Month 12 Month Inception
(22 Feb, 2017)
WCMQ 0.7% - - - -
Index -0.2% - - - -
Value Add 0.9% - - - -

Performance to 28 September 2018

Announcements

Date Description Link
08/11/2018 Monthly Redemptions and Units on Issue 31 October 2018 View
05/10/2018 Monthly Redemptions and Units on Issue 30 September 2018 View
31/08/2018 Product Disclosure Statement 4 July 2018 View
31/08/2018 Admission and Commencement of Quotation View

Media

The Executive Series - CommSec

WCM Investment Management Co-CEO, Kurt Winrich speaks with Tom Piotrowski about WCM’s launch of its Exchange Traded Managed Fund (ETMF).

Read more +
More Media

Why Invest

Proven world class manager

WCM has an outstanding long-term track record of global equity management. Their Quality Global Growth strategy has outperformed the MSCI World Index by an annualised 5.2% since its inception in 2008. To learn more, click here. This consistency of performance has been a large factor behind the firm managing many of the world’s biggest pension plans including a number of large Australian superannuation funds. For more information on performance, please click here.

Active all-weather portfolio

A key to building long-term wealth is to maximise participation in rising markets while limiting the impact of market weakness. The fund has therefore been designed as an ‘all weather one’ capable of strong relative performance in both up and down markets. WCM’s focus on high quality companies with expanding moats is a proven approach for achieving this objective. This is evidenced by their Quality Global Growth strategy having delivered downside capture of close to 50% since inception, meaning the portfolio has experienced on average half of the loss of the benchmark during market declines. To read more, click here

Quality global stocks

WCM’s focus on quality global stocks with expanding economic moats leads it towards high growth sectors such as technology, healthcare and consumer. For Australian investors this provides significant diversification benefits, as these sectors represent a relatively small proportion of the local market. WCMQ will have a relatively low exposure to banks and basic resources, the two heavyweight sectors in the ASX.

Unique Investment Process

WCM’s two key criteria for any company to be considered for inclusion in the WCMQ Strategy are 1) a rising competitive advantage (or expanding economic moat) and 2) a corporate culture that supports the expansion of this moat. WCM believes the direction of a company’s economic moat is of more importance than its absolute width or size.

Focused and low turnover portfolio

The fund invests in a portfolio of no more than 20 - 40 companies. These companies are chosen from a universe of close to 2,100. This results in a high conviction portfolio ensuring that the investment team’s best ideas aren’t diluted by less compelling ones. The average holding period of each company is five to seven years. This means that each company is deeply researched prior and post inclusion in the portfolio, resulting in avoidance of unnecessary and excessive trading.

Track Your Investment in Real-Time

WCMQ's Net Asset Value (NAV) per Unit will be published on our website daily. Investors will also be able to see the prices at which other investors are prepared to exchange Units when Units in the Fund are quoted on the ASX.

The Manager

Founded in 1976, WCM Investment Management is a California-based specialist active global and emerging markets asset management firm. The firm is 100% owned by its 41 employees and manages in excess of $35 billion of assets on behalf of institutional and retail investors around the world including Australia. Key investment professionals include:

Paul Black

Portfolio Manager & Co-CEO

Sanjay Ayer

Portfolio Manager & Business Analyst

Peter Hunkel

Portfolio Manager & Business Analyst

Kurt Winrich

Portfolio Manager & Co-CEO

Michael Trigg

Portfolio Manager & Business Analyst

How to Invest

Frequently Asked Questions

  • What are the fees?

    The fund has an annual management fee of 1.25% of the fund's net asset value plus an administration fee of 0.10% inclusive of GST and less RITC. The Responsible Entity may charge the Fund a Performance Fee depending on how the Fund performs relative to its Benchmark. Performance Fees are subject to a high-water mark meaning any underperformance in prior periods must be recouped before a Performance Fee becomes payable. Performance Fees are also capped at 0.375% of the value of the Fund’s portfolio for each Calculation Period. The Performance Fee for the Fund is 10% (inclusive of GST and less RITC) of the amount by which the Fund exceeds its Benchmark return after the Management Fee (excess return) for the relevant Calculation Period.

  • What are the risks of investing in the Fund?

    As with all investments, there are risks involved with an investment in the WCM Quality Global Growth Fund. It is important to understand that the value of investments may rise or fall, investment returns will vary, future returns may differ from past returns, investment returns are not guaranteed and investors may lose the money they have invested in the Fund. For more detailed information relating to the risks of the Fund, please refer to the Product Disclosure Statement available via the 'Downloads and Forms' section at the top of this page.

  • How does the Fund select investments?

    The two key criteria for any company to be considered for inclusion in this portfolio are i) a rising competitive advantage (or expanding economic moat) and ii) a corporate culture that supports the expansion of this moat

    WCM believes the direction of a company’s economic moat is of more importance than its absolute width or size. Their research therefore is focused on identifying those companies with a positive moat trajectory as measured by a rising return on invested capital (ROIC) as opposed to those with a large but static or declining moat.

    WCM also strongly believes that corporate culture is a key determinant of a firm’s ability to achieve a consistently growing moat. Starkly diverging performance of two seemingly very similar companies in the same industry can often be explained by their differing corporate culture. WCM has developed a proprietary approach to analysing corporate culture and has investment team members solely dedicated to this part of their process.

  • What does the Fund invest in?

    The fund invests in 20 – 40 developed and emerging market listed quality growth companies.

  • How and when can I access my money?

    Holders can sell Units on the ASX market through a stockbroker or share trading account without completing any forms. Proceeds from any sale of Units will be delivered through the ASX CHESS settlement service. An investor’s exit price will be the price at which the Units were sold on the ASX market, less any brokerage fee that is incurred.

  • What is an iNAV?

    iNAV stands for Indicative Net Asset Value. The Net Asset Value (NAV) is calculated by deducting all liabilities (including fees) from the total value of the Fund’s assets, and dividing this number by the number of Units on issue.

    At the end of each business day, the NAV is calculated and published on this website. During each ASX Trading Day, an indicative NAV (iNAV) is published to take into account any movement of the prices of those securities that comprise the Fund's investment portfolio. The iNAV will also be updated for foreign exchange movements in respect of the domicile of individual stocks within the Fund's portfolio.

  • Will I receive a CHESS statement?

    Holders will receive a CHESS holding statement showing the numbers of Units that they own. Holders will receive an updated CHESS holding statement upon the occurrence of any changes to their holding.

  • How do I invest?

    General Offer

    You can invest online by following the 'Invest Now' links on our website. You can pay for your units via BPay.

    A BPay Biller Code and Customer Reference Number will be provided on screen and by email when you complete your application.

    Broker Offer

    Investors who have been offered a firm allocation by a Broker or Licensed Dealer will be treated as an Applicant under the Broker Firm Offer in respect of that allocation. Investors should contact their Broker or Licensed Dealer to determine whether they may be allocated Units under the Broker Firm Offer.