October, 2020
Global small cap equity markets were flat in the month of October with MSCI World Small Cap index returning -.01% (USD). Markets were drawn lower off the international small cap equity markets largely on fears over a resurgence of the virus and a resumption of lockdowns across Europe and the U.K. The S&P Developed ex US Small Cap index, for example, declined -3.51%(USD). The Copper Rock Global Small Cap Composite returned -0.60% (USD). Within the index, the Financials sectors had the best positive return of ~5% while the Communication Services, Real Estate, and Consumer Staples sectors declined the most, each down more than ~-3%. Within the Global Small Cap portfolio, there was positive selection in the Consumer Staples sector led by good performance from Darling Ingredients, Inc. and Grocery Outlet Holdings Corp. The underperformance in the Financials sectors came from the position in Italian financial services company, Unipol Gruppo, S.p.A. Underperformance in cyclical sectors like Materials, Industrials, and Energy sectors declined worse than the overall index primarily on negative sentiment from the virus and jittery markets ahead of the U.S. Presidential election.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/SCRGSC-Fund-Update-October-2020.pdfticker: ETL0410AU
commentary_block: Array
factsheet_url:
https://www.spirecapital.com.au/funds/spire-copper-rock-capital-global-smaller-companies-fund/
Just use Market Commentary section if nothing else..
release_schedule: Monthly
fund_features:
The Fund aims to outperform the MSCI World Small Cap Index by 2% to 3% p.a. gross over a full market cycle (e.g. 5 to 7 years).
- The Fund will invest primarily in equity securities of US and non-US issuers listed on globally recognised exchanges of developed markets. The Fund will generally hold between 80 and 120 securities.
- Investment in any one region or sector will generally be limited to +/- 6% relative to the Benchmark.
- Investment in any one security will generally be limited to +/-3.5% relative to the Benchmark.
- The Fund may also invest up to 15% in emerging markets.
- The securities in which the Fund may invest include common stocks, preferred stocks, convertible debt, depository receipts, rights and warrants, and may also invest in initial public offerings and private placements.
manager_contact_details: Array
asset_class: Foreign Equity
asset_category: Equity World Mid/Small
peer_benchmark: Foreign Equity - World Mid/Small Index
broad_market_index: Developed -World Index
structure: Managed Fund