Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • Investegate.co.uk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com
  • FETransmission.com
  • Trustnet.hk
  • FEAnalytics.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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World Trust Fund (WTR)

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Monday 01 August, 2011

World Trust Fund

Factsheet

Factsheet

World Trust Fund

As of 30 April 2011

Return Statistics   MTD   YTD   1-Year   3-Year   5-Year   10-Year   Annualized Since Inception**
The World Trust Fund Price (£)* 0.6% -0.3% 13.1 -3.7% -3.7% 5.1% 6.3%
The World Trust Fund Price (US$) 4.8% 6.9% 23.4% -9.1% -5.4% 6.7% 6.2%
The World Trust Fund NAV (US$) 4.3% 7.0% 19.5% -9.7% -4.7% 6.7% 7.1%
MSCI All Country World Index (US$) 4.1% 8.7% 18.6% -0.2% 3.1% 4.7% 6.7%

Source: Lazard Asset Management / MSCI

* As at 01.11.09 the currency in which the shares of the Fund are listed changed from US$ to GBP. Past performance data up to and including 31.10.09 has been re-calculated using exchange rates provided by Bloomberg. Past performance data from 01.11.09 is calculated using exchange rates provided by State Street Bank. The Fund’s base currency for valuation and performance fee calculation purposes remains as US$.

** Inception date 01.07.91

Fund Description

The Fund aims to achieve long-term capital appreciation by investing primarily in companies whose shares trade at a discount to the underlying net asset value, and list on the international exchanges. The Fund may also sell short stock indices, stocks, and shares of exchange-traded funds or closed-end funds, not exceeding 100% of the Fund's net assets.

Portfolio Construction

Closed- End Investment Companies   41.5%
Investment Trusts 33.9%
Corporate Equities 25.4%

Source: Lazard Asset Management

Fund Data

Net Asset Value (£)   2.20
Market Price (£) 1.98
Discount/Premium -9.89%

Source: State Street Bank

Portfolio Exposure

Long Exposure   100.8%
Short Exposure 0.0%
Net Exposure 100.8%
Gross Exposure 100.8%

Source: Lazard Asset Management

Regional Exposure

Asia (ex-Japan)   27.3%
Europe (ex-UK) 25.8%
North America 21.3%
Japan 8.1%
UK 6.0%
Latin America/Africa/Middle East 5.4%
Other 6.2%

Source: Lazard Asset Management

Top Holdings

Name

 

Weight (%)

 

Discount/Premium (%)

First Pacific Co 6.7 -48.1*
JPMorgan European Smaller Companies Investment Trust 6.1 -14.3
The New Germany Fund 5.6 -9.7
Eurazeo 5.4 -24.7*
China Everbright Ltd 4.7 -16.0*
Swiss Helvetia Fund 4.4 -8.7
China Merchants China Direct 3.7 -39.0*
JP Morgan Emerging Markets 3.4

 

-8.7

Morgan Stanley Asia Pacific Fund 3.3 -10.5
Clough Global Opportunities Fund 3.2 -12.7

Source: Lazard Asset Management / Morningstar (unless otherwise stated)

*Lazard Asset Management



This is a financial promotion and is not intended to be investment advice.

Securities identified in this document are not necessarily held by Lazard Asset Management for all client portfolios, and should not be considered as a recommendation or solicitation to purchase, sell or hold these securities. It should also not be assumed that any investment in these securities was, or will be, profitable.

Information and opinions contained within this document are derived from sources believed by Lazard to be reliable. Lazard makes no representation as to their accuracy or completeness. All opinions are as at the date of this document and are subject to change without notice.

The World Trust Fund is an investment company incorporated in Luxembourg, whose shares are listed and traded on the London Stock Exchange.

Past performance is not a reliable indicator of future results. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested.

Investors are reminded that although the shares of the Fund are listed in GB sterling, the base currency of the Fund is US dollars. Therefore, in addition to the fluctuations in the rate of exchange between the currency in which shares are denominated (US$) and the base currencies of the underlying investments that may affect the value of your investment both positively and negatively, changes in rates of exchange between the Fund’s base currency and the currency in which it is listed (GBP) may also have the effect of causing the value of your investment to fluctuate.

Certain information included herein is derived by Lazard in part from an MSCI index or indices (the “Index Data”). However, MSCI has not reviewed this product or report, and does not endorse or express any opinion regarding this product or report or any analysis or other information contained herein or the author or source of any such information or analysis. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any Index Data or data derived therefrom. The MSCI Index Data may not be further redistributed or used as a basis for other indices or any securities or financial products.

There is no assurance that the World Trust Fund’s objectives or performance targets will be achieved.

This financial promotion is issued and approved by Lazard Asset Management Limited, 50 Stratton Street, London W1J 8LL

Lazard Asset Management Limited is incorporated in England and Wales with registered number 525667. It is authorised and regulated by the Financial Services Authority

Listing Category: Premium – Equity Closed-ended Investment Fund