The Trust aims to seek capital appreciation over a full market cycle (before fees, taxes and expenses) by investing in a diversified portfolio of global equity securities of companies located in developed and Emerging Market countries.
Investment Focus
Emphasis on valuation, balance sheet leverage and maintaining a suitable margin of safety
Focus on investments in companies with medium to large market capitalizations, but may invest in companies of any size
Seeks to identify investment opportunities trading at a significant discount to their intrinsic value, due to adverse market sentiment, operating difficulties or going through a transition
Trust Facts
Inception Date
12-Mar-2025
ARSN
683 495 052
APIR
ETL8831AU
Net Assets
(AUD
M)
As of 31-Oct-25
AUD4.06
Exit Price
As of 05-Dec-25
AUD1.1108
Most Recent Exit Price Change
As of 05-Dec-25
AUD0.0033
|
0.30%
All investments carry risks. Different investment strategies may carry different levels of risk, depending on the assets acquired under the strategy.
Please see the Product Disclosure Statement and Reference Guide for detailed risk considerations.
Anne Christine Farstad
Portfolio Manager
24
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
24
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
Anne-Christine (AC) Farstad is an investment officer and equity portfolio manager for the Contrarian Equity strategies at MFS Investment Management® (MFS®). In this role, she is responsible for final buy and sell decisions, portfolio construction, risk and cash management. She also participates in the research process and strategy discussions. She is based in London.
AC joined MFS in 2005 as an equity research analyst before assuming her current role in 2015. Before joining the firm, she worked for two years as an equity research analyst following European and US companies for Bailey Coates Asset Management. She also spent one year in the Global Equity Hedge Fund Sales group for UBS in London. She began her career in the financial services industry in 2002.
AC earned a Master of Arts degree in literature from the University of Cambridge.
Zahid Kassam, CFA
Portfolio Manager
18
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
18
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
Zahid Kassam, CFA, is an investment officer and equity portfolio manager for the Contrarian Value strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. He is based in Toronto.
Zahid joined MFS in 2013 as an equity research analyst and assumed portfolio management responsibilities in 2021. He previously spent two years as a senior analyst at the Ontario Teachers' Pension Plan's private equity arm and two years as a mergers and acquisitions investment banking analyst at RBC Capital Markets. He began his career in the financial services industry in 2007.
Zahid earned a Bachelor of Arts degree in business administration with Ivey Scholar honors from Ivey Business School at the University of Western Ontario and a Master of Business Administration degree from Harvard Business School. He holds the Chartered Financial Analyst (CFA) designation.
Paul Fairbrother, ASIP
Institutional Portfolio Manager
32
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
32
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
Paul Fairbrother, ASIP, is an investment officer and institutional equity portfolio manager at MFS Investment Management® (MFS®). In this role, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines, and manages daily cash flows. He is also responsible for communicating investment policy, strategy and positioning. He is based in London.
Paul joined MFS in 2019 in his current role after five years at Sarasin & Partners as a business partner and client account director. Prior to that, he served as a European equity portfolio manager, European equity analyst and UK equity portfolio manager for UBS Asset Management over the course of his 21-year tenure there. He began his career in the financial services industry in 1993.
Paul earned a bachelor's degree in business economics from the University of Reading. He is a member of the CFA Institute and an Associate of the CFA Society of the UK (ASIP).
Benjamin Tingling, CAIA
Institutional Portfolio Manager
19
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
19
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
Benjamin Tingling is an institutional portfolio manager at MFS Investment Management (MFS). In this role, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. He also communicates investment policy, strategy and positioning. He is based in London.
Benjamin joined MFS in 2014 in his current role. He previously worked for Man Group Plc for six years, most recently as a derivatives and client on-boarding associate.
Benjamin earned a Bachelor of Science degree in economics and finance from Brunel University. He holds the Chartered Alternative Investment Analyst (CAIA) designation and an Investment Management Certificate (IMC).
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Past performance is not a reliable indicator of future performance. Net-of-fees performance is based on end-of-month redemption prices after the deduction of fees and expenses and the reinvestment of all distributions. Gross-of-fees performance is the net return with fees and expenses added back. Figures include changes in principal value. Investment return and principal value will vary, and an account may be worth more or less at termination than at inception.
Source: Benchmark performance from SPAR, FactSet Research Systems Inc.
Annual Performance
Annual Performance (%)
No data currently available
annual rate of return table
Pricing
Pricing History
Exit Price at Close of Trading on:
05-Dec-25
Exit Price:
AUD 1.1108
Change
(AUD) (since
04-Dec-25):
0.0033
Change (%) (since
04-Dec-25):
0.30
Market Price (MP):
Maximum data displayed is for the most recent 10 years
Historical Exit Price Lookup
Enter date for which you wish to obtain a Historical Exit Price for this fund
Historical Exit Price may not be available for all dates.
Historical MP Lookup
Enter date for which you wish to obtain a Historical MP for this fund
Historical MP may not be available for all dates.
Historical Exit Price Table
Exit Price at Close of Trading on
Net Asset Value (NAV)
No Data Available
Portfolio & Holdings Information
The portfolio is actively managed, and current holdings may be different.
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.
Map represents sectors greater than 5%.
Holding Characteristics
Weighted Average Price/earnings ratio is the ratio of the current price of a stock to an estimate of forward 12 month earnings; P/E ex-negatives ratio is an exposure-weighted average of the P/E ratios of the securities held in the fund, excluding companies with projected negative earnings.
Weighted Average Price-to-cash-flow is the ratio of a stock's price to its per-share cash earnings.
Weighted Average Price/Sales Ratio (P/S) is the ratio of a stock's price to its per-share sales.
Weighted Average Price/book ratio (P/B) is the ratio of a stock's price to its book value per share.
Weighted Average IBES Long Term EPS Growth is the weighted average forecast, by sell side analysts of how much a company's net income has grown over the long-term (typically 3-5 years). The forecast is derived from all polled analysts' estimates. Source: Ibbotson
Weighted Average Market Cap: Market capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock. It is calculated by multiplying the number of outstanding shares by the current market price of a share.
Weighted Median Market Cap is the Market Capitalization of the firm defined by the median dollar within the distribution of the market capitalization of all companies in the index or portfolio. It is calculated from a running total of market capitalizations from smallest company to largest. The Market Capitalization of the firm that sorts the total dollar value of all market capitalizations into two equal portions defines the value.
As of
31-Oct-25
Data table of holding characteristics
characterstics
Equity Earning
Weighted Average Price/Earnings (next 12 months)
13.21x
Weighted Average Price/Cash Flow
9.80x
Weighted Average Price/Sales
1.00x
Weighted Average Price/Book
1.70x
Weighted Average IBES Long Term EPS Growth
9.96%
Weighted Average Market Cap
AUD114.9b
Weighted Median Market Cap
AUD46.5b
Number of Issues
35
Active Share
Active share is calculated by taking the absolute value of the difference between each issuer's weighting in the index and its weighting in the portfolio, summing, then dividing by two. The higher the number, the more the weights differ from those of the benchmark.
95.87%
Portfolio Turnover
Turnover ratio is the percentage of a portfolio's assets that have changed over the course of a year: (Lesser of purchases or sales)/average market value.
-
% in Top Ten
37.62%
Performance Statistics
Updated Monthly As of
31-Oct-25
Benchmark
MSCI World Value Index (net div)
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
n/a
n/a
n/a
Beta
n/a
n/a
n/a
R-squared
n/a
n/a
n/a
Standard Deviation %
n/a
n/a
n/a
Sharpe Ratio
n/a
n/a
n/a
Tracking Error
n/a
n/a
n/a
Information Ratio
n/a
n/a
n/a
Treynor Ratio
n/a
n/a
n/a
Top 10 Holdings
As of
31-Oct-25
DAVIDE CAMPARI-MILANO NV
DEUTSCHE POST AG
SAMSUNG ELECTRONICS CO LTD
CIE GENERALE DES ETABLISSEMENTS MICHELIN SCA
BECTON DICKINSON AND CO (EQ)
IMCD NV (EQ)
VEOLIA ENVIRONNEMENT SA
CANADIAN PACIFIC KANSAS CITY LTD
JOHNSON & JOHNSON
ZALANDO SE
The portfolio is actively managed, and current holdings may be different.
Type Of Holdings (%)
As of
31-Oct-25
Sector Weights (%)
As of
31-Oct-25
% Assets
Health Care
17.17
Industrials
16.61
Consumer Discretionary
14.17
Financials
13.23
Consumer Staples
11.97
Materials
8.02
Utilities
5.94
Information Technology
4.06
Energy
2.57
Cash & Cash Equivalents
6.25
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.
The portfolio is actively managed, and current holdings may be different.
Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.
The Trust aims to seek capital appreciation over a full market cycle (before fees, taxes and expenses) by investing in a diversified portfolio of global equity securities of companies located in developed and Emerging Market countries.
Investment Focus
Emphasis on valuation, balance sheet leverage and maintaining a suitable margin of safety
Focus on investments in companies with medium to large market capitalizations, but may invest in companies of any size
Seeks to identify investment opportunities trading at a significant discount to their intrinsic value, due to adverse market sentiment, operating difficulties or going through a transition
Trust Facts
Inception Date
12-Mar-2025
ARSN
683 495 052
APIR
ETL8831AU
Net Assets
(AUD
M)
As of 31-Oct-25
AUD4.06
Exit Price
As of 05-Dec-25
AUD1.1108
Most Recent Exit Price Change
As of 05-Dec-25
AUD0.0033
|
0.30%
All investments carry risks. Different investment strategies may carry different levels of risk, depending on the assets acquired under the strategy.
Please see the Product Disclosure Statement and Reference Guide for detailed risk considerations.
Anne Christine Farstad
Portfolio Manager
24
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
24
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
Anne-Christine (AC) Farstad is an investment officer and equity portfolio manager for the Contrarian Equity strategies at MFS Investment Management® (MFS®). In this role, she is responsible for final buy and sell decisions, portfolio construction, risk and cash management. She also participates in the research process and strategy discussions. She is based in London.
AC joined MFS in 2005 as an equity research analyst before assuming her current role in 2015. Before joining the firm, she worked for two years as an equity research analyst following European and US companies for Bailey Coates Asset Management. She also spent one year in the Global Equity Hedge Fund Sales group for UBS in London. She began her career in the financial services industry in 2002.
AC earned a Master of Arts degree in literature from the University of Cambridge.
Zahid Kassam, CFA
Portfolio Manager
18
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
18
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
Zahid Kassam, CFA, is an investment officer and equity portfolio manager for the Contrarian Value strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. He is based in Toronto.
Zahid joined MFS in 2013 as an equity research analyst and assumed portfolio management responsibilities in 2021. He previously spent two years as a senior analyst at the Ontario Teachers' Pension Plan's private equity arm and two years as a mergers and acquisitions investment banking analyst at RBC Capital Markets. He began his career in the financial services industry in 2007.
Zahid earned a Bachelor of Arts degree in business administration with Ivey Scholar honors from Ivey Business School at the University of Western Ontario and a Master of Business Administration degree from Harvard Business School. He holds the Chartered Financial Analyst (CFA) designation.
Paul Fairbrother, ASIP
Institutional Portfolio Manager
32
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
32
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
Paul Fairbrother, ASIP, is an investment officer and institutional equity portfolio manager at MFS Investment Management® (MFS®). In this role, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines, and manages daily cash flows. He is also responsible for communicating investment policy, strategy and positioning. He is based in London.
Paul joined MFS in 2019 in his current role after five years at Sarasin & Partners as a business partner and client account director. Prior to that, he served as a European equity portfolio manager, European equity analyst and UK equity portfolio manager for UBS Asset Management over the course of his 21-year tenure there. He began his career in the financial services industry in 1993.
Paul earned a bachelor's degree in business economics from the University of Reading. He is a member of the CFA Institute and an Associate of the CFA Society of the UK (ASIP).
Benjamin Tingling, CAIA
Institutional Portfolio Manager
19
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
19
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
Benjamin Tingling is an institutional portfolio manager at MFS Investment Management (MFS). In this role, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. He also communicates investment policy, strategy and positioning. He is based in London.
Benjamin joined MFS in 2014 in his current role. He previously worked for Man Group Plc for six years, most recently as a derivatives and client on-boarding associate.
Benjamin earned a Bachelor of Science degree in economics and finance from Brunel University. He holds the Chartered Alternative Investment Analyst (CAIA) designation and an Investment Management Certificate (IMC).
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Past performance is not a reliable indicator of future performance. Net-of-fees performance is based on end-of-month redemption prices after the deduction of fees and expenses and the reinvestment of all distributions. Gross-of-fees performance is the net return with fees and expenses added back. Figures include changes in principal value. Investment return and principal value will vary, and an account may be worth more or less at termination than at inception.
Source: Benchmark performance from SPAR, FactSet Research Systems Inc.
Annual Performance
Annual Performance (%)
No data currently available
annual rate of return table
Pricing
Pricing History
Exit Price at Close of Trading on:
05-Dec-25
Exit Price:
AUD 1.1108
Change
(AUD) (since
04-Dec-25):
0.0033
Change (%) (since
04-Dec-25):
0.30
Market Price (MP):
Maximum data displayed is for the most recent 10 years
Historical Exit Price Lookup
Enter date for which you wish to obtain a Historical Exit Price for this fund
Historical Exit Price may not be available for all dates.
Historical MP Lookup
Enter date for which you wish to obtain a Historical MP for this fund
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.
Map represents sectors greater than 5%.
Holding Characteristics
Weighted Average Price/earnings ratio is the ratio of the current price of a stock to an estimate of forward 12 month earnings; P/E ex-negatives ratio is an exposure-weighted average of the P/E ratios of the securities held in the fund, excluding companies with projected negative earnings.
Weighted Average Price-to-cash-flow is the ratio of a stock's price to its per-share cash earnings.
Weighted Average Price/Sales Ratio (P/S) is the ratio of a stock's price to its per-share sales.
Weighted Average Price/book ratio (P/B) is the ratio of a stock's price to its book value per share.
Weighted Average IBES Long Term EPS Growth is the weighted average forecast, by sell side analysts of how much a company's net income has grown over the long-term (typically 3-5 years). The forecast is derived from all polled analysts' estimates. Source: Ibbotson
Weighted Average Market Cap: Market capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock. It is calculated by multiplying the number of outstanding shares by the current market price of a share.
Weighted Median Market Cap is the Market Capitalization of the firm defined by the median dollar within the distribution of the market capitalization of all companies in the index or portfolio. It is calculated from a running total of market capitalizations from smallest company to largest. The Market Capitalization of the firm that sorts the total dollar value of all market capitalizations into two equal portions defines the value.
As of
31-Oct-25
Data table of holding characteristics
characterstics
Equity Earning
Weighted Average Price/Earnings (next 12 months)
13.21x
Weighted Average Price/Cash Flow
9.80x
Weighted Average Price/Sales
1.00x
Weighted Average Price/Book
1.70x
Weighted Average IBES Long Term EPS Growth
9.96%
Weighted Average Market Cap
AUD114.9b
Weighted Median Market Cap
AUD46.5b
Number of Issues
35
Active Share
Active share is calculated by taking the absolute value of the difference between each issuer's weighting in the index and its weighting in the portfolio, summing, then dividing by two. The higher the number, the more the weights differ from those of the benchmark.
95.87%
Portfolio Turnover
Turnover ratio is the percentage of a portfolio's assets that have changed over the course of a year: (Lesser of purchases or sales)/average market value.
-
% in Top Ten
37.62%
Performance Statistics
Updated Monthly As of
31-Oct-25
Benchmark
MSCI World Value Index (net div)
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
n/a
n/a
n/a
Beta
n/a
n/a
n/a
R-squared
n/a
n/a
n/a
Standard Deviation %
n/a
n/a
n/a
Sharpe Ratio
n/a
n/a
n/a
Tracking Error
n/a
n/a
n/a
Information Ratio
n/a
n/a
n/a
Treynor Ratio
n/a
n/a
n/a
Top 10 Holdings
As of
31-Oct-25
DAVIDE CAMPARI-MILANO NV
DEUTSCHE POST AG
SAMSUNG ELECTRONICS CO LTD
CIE GENERALE DES ETABLISSEMENTS MICHELIN SCA
BECTON DICKINSON AND CO (EQ)
IMCD NV (EQ)
VEOLIA ENVIRONNEMENT SA
CANADIAN PACIFIC KANSAS CITY LTD
JOHNSON & JOHNSON
ZALANDO SE
The portfolio is actively managed, and current holdings may be different.
Type Of Holdings (%)
As of
31-Oct-25
Sector Weights (%)
As of
31-Oct-25
% Assets
Health Care
17.17
Industrials
16.61
Consumer Discretionary
14.17
Financials
13.23
Consumer Staples
11.97
Materials
8.02
Utilities
5.94
Information Technology
4.06
Energy
2.57
Cash & Cash Equivalents
6.25
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.
The portfolio is actively managed, and current holdings may be different.
Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.