IFPUX: Independent Franchise Partners US Equity

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IFPUX Independent Franchise Partners US Equity


Profile

IFPUX - Profile

Vitals

  • YTD Return -3.6%
  • 3 Yr Annualized Return 0.5%
  • 5 Yr Annualized Return 2.4%
  • Net Assets $1.54 B
  • Holdings in Top 10 51.6%

52 WEEK LOW AND HIGH

$17.87
$13.49
$20.30

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.76%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 37.99%

TRADING FEES

  • Max Redemption Fee 0.25%

Min Investment

  • Standard (Taxable) $3,000,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -3.6%
  • 3 Yr Annualized Total Return 2.2%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.62%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Independent Franchise Part Equity Fund
  • Fund Family Name
    Independent Franchise Partners
  • Inception Date
    Dec 20, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Hassan Elmasry

Fund Description

The fund normally invests at least 80% of its assets (net assets plus borrowings for investment purposes) in equity securities of companies deriving a significant portion of their revenue from the U.S.; or with a primary listing on a U.S. stock exchange; or that have their principal place of business or operations in the U.S. It may invest up to 20% of the value of its net assets in non-U.S. equity securities, including equity securities in emerging markets. The fund is non-diversified.


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Categories

Performance

IFPUX - Performance

Return Ranking - Trailing

Period IFPUX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.6% -36.9% 1767.2% 8.24%
1 Yr 1.0% -73.2% 2008.7% 42.62%
3 Yr 0.5%* -33.7% 184.1% 42.98%
5 Yr 2.4%* -21.2% 91.4% 31.37%
10 Yr N/A* -7.5% 37.9% N/A

* Annualized

Return Ranking - Calendar

Period IFPUX Return Category Return Low Category Return High Rank in Category (%)
2019 21.5% -72.6% 39.5% 57.91%
2018 -13.9% -67.0% 10.0% 47.36%
2017 14.2% -32.8% 33.2% 47.90%
2016 5.7% -18.6% 19.7% 63.66%
2015 -0.7% -35.5% 7.8% 11.42%

Total Return Ranking - Trailing

Period IFPUX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.6% -36.9% 1767.2% 8.24%
1 Yr 1.0% -73.2% 2008.7% 42.53%
3 Yr 2.2%* -33.7% 184.1% 58.61%
5 Yr 4.2%* -17.1% 91.4% 50.49%
10 Yr N/A* -5.1% 37.9% N/A

* Annualized

Total Return Ranking - Calendar

Period IFPUX Return Category Return Low Category Return High Rank in Category (%)
2019 21.5% -72.6% 39.5% 57.91%
2018 -13.9% -67.0% 10.0% 71.36%
2017 19.9% -22.1% 33.2% 46.34%
2016 9.6% -16.4% 26.8% 49.84%
2015 -0.7% -26.4% 106.5% 39.53%

NAV & Total Return History


Holdings

IFPUX - Holdings

Concentration Analysis

IFPUX Category Low Category High IFPUX % Rank
Net Assets 1.54 B 1.14 K 822 B 37.38%
Number of Holdings 27 1 3520 96.22%
Net Assets in Top 10 850 M 48.8 K 180 B 26.76%
Weighting of Top 10 51.61% 2.2% 100.0% 5.86%

Top 10 Holdings

  1. Apple Inc 6.69%
  2. Microsoft Corp 6.20%
  3. Fox Corp Class A 5.53%
  4. S&P Global Inc 5.29%
  5. Johnson & Johnson 5.22%
  6. Booking Holdings Inc 4.84%
  7. Nintendo Co Ltd 4.62%
  8. Accenture PLC Class A 4.57%
  9. Equifax Inc 4.33%
  10. The Western Union Co 4.31%

Asset Allocation

Weighting Return Low Return High IFPUX % Rank
Stocks
96.20% 80.67% 167.47% 88.18%
Cash
3.80% -86.70% 11.89% 10.99%
Preferred Stocks
0.00% 0.00% 18.97% 72.90%
Other
0.00% -13.45% 24.57% 71.39%
Convertible Bonds
0.00% 0.00% 10.65% 72.48%
Bonds
0.00% -0.59% 78.72% 76.19%

Stock Sector Breakdown

Weighting Return Low Return High IFPUX % Rank
Technology
21.55% 0.00% 39.23% 56.61%
Communication Services
19.39% 0.00% 29.84% 2.03%
Consumer Defense
16.33% 0.00% 29.02% 4.41%
Healthcare
14.19% 0.00% 31.87% 80.76%
Financial Services
9.97% 0.00% 49.17% 94.75%
Consumer Cyclical
9.67% 0.00% 45.17% 58.31%
Industrials
5.53% 0.00% 27.85% 93.73%
Basic Materials
3.38% -0.14% 11.19% 19.24%
Utilities
0.00% 0.00% 19.31% 95.51%
Real Estate
0.00% 0.00% 54.83% 96.78%
Energy
0.00% -1.47% 13.88% 97.20%

Stock Geographic Breakdown

Weighting Return Low Return High IFPUX % Rank
US
81.32% 80.14% 157.79% 98.49%
Non US
14.88% -1.85% 20.17% 3.10%

Expenses

IFPUX - Expenses

Operational Fees

IFPUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.76% 0.01% 49.73% 63.40%
Management Fee 0.68% 0.00% 2.00% 74.92%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.95% N/A

Sales Fees

IFPUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.95% 5.00% N/A

Trading Fees

IFPUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 0.25% 0.25% 2.00% 100.00%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

IFPUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.99% 0.00% 412.00% 54.71%

Distributions

IFPUX - Distributions

Dividend Yield Analysis

IFPUX Category Low Category High IFPUX % Rank
Dividend Yield 0.00% 0.00% 17.30% 73.93%

Dividend Distribution Analysis

IFPUX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

IFPUX Category Low Category High IFPUX % Rank
Net Income Ratio 1.62% -3.93% 3.34% 25.36%

Capital Gain Distribution Analysis

IFPUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

IFPUX - Fund Manager Analysis

Managers

Hassan Elmasry


Start Date

Tenure

Tenure Rank

Dec 20, 2011

8.37

8.4%

Hassan is a partner and lead portfolio manager at Independent Franchise Partners, LLP. Prior to founding the Firm in June 2009, Hassan was Managing Director and lead portfolio manager at Morgan Stanley Investment Management. Hassan joined Morgan Stanley in 1995 and responsibility for the Global Franchise strategy in April 2002 and launching American Franchise in June 2005. Previously, Hassan was an international equity portfolio manager for Mitchell Hutchins Asset Management and worked as an international equity analyst for First Chicago Corporation. He has 36 years of investment experience.

Jayson Vowles


Start Date

Tenure

Tenure Rank

Dec 20, 2011

8.37

8.4%

Jayson is a partner and portfolio manager at Independent Franchise Partners, LLP. Prior to founding the Firm in June 2009, Jayson was Vice President and a portfolio manager/ research analyst for Global and American Franchise portfolios at Morgan Stanley Investment Management, which he joined in August 2003. Previously, Jayson worked at Goldman Sachs and Deloitte & Touche. Jayson received a BComm. and a post-graduate diploma in Accounting from the University of Natal. He is a CFA® Charterholder, a Qualified Chartered Accountant and a member of the South African Institute of Chartered Accountants (SAICA). He has 19 years of investment experience.

Karim Ladha


Start Date

Tenure

Tenure Rank

Dec 20, 2011

8.37

8.4%

Karim Ladha is a partner and member of investment team at Independent Franchise Partners, LLP. He joined the Firm in May 2011 and has 13 years of investment experience. Prior to joining the Firm, Karim worked at Neptune Investment Management in London. Previously, Karim performed both equity and fixed income research at Morgan Stanley Investment Management, including working with the Franchise team. Karim received a B.A. (Hons) in Philosophy, Politics and Economics at St John’s College, University of Oxford and an MBA from the University of Chicago, and is a CFA® Charterholder.

Michael Allison


Start Date

Tenure

Tenure Rank

Dec 20, 2011

8.37

8.4%

Michael is a partner and portfolio manager at Independent Franchise Partners, LLP. Prior to founding the Firm in June 2009, Michael was Executive Director and a portfolio manager/ research analyst for Global and American Franchise portfolios at Morgan Stanley Investment Management. Michael joined Morgan Stanley in 2000 and served as a portfolio manager for global and European equity portfolios before joining the Franchise team in February 2005. Previously, Michael worked at NatWest Markets and Unilever. He received a BComm. and a post-graduate diploma in Management Accounting, both from the University of Natal. He is a CFA® Charterholder and a Chartered Global Management Accountant. Mr. Allison has 23 years of investment experience.

Richard Crosthwaite


Start Date

Tenure

Tenure Rank

Jan 31, 2014

6.25

6.3%

Richard is a partner and investor at Independent Franchise Partners, LLP. He joined the Firm in January 2014 and has over 14 years of investment experience. Prior to joining the Firm, Richard was a fund manager at Legal & General Investment Management. In this role he continued his previous analyst responsibility for the TMT sector. Previously, Richard was a senior equity research associate at Sanford C Bernstein Ltd, working with the firm’s Telecoms and European Media teams, following earlier experience working in corporate finance. Richard received an M.A. in Classics from the University of Cambridge.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 34.18 6.19 0.33