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- Global Leaders Equity Fund | Q3 2025
Global Leaders Equity Fund | Q3 2025
18 November 2025
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Ashburton Fund Managers (Proprietary) Limited is a licensed Financial Services Provider ("FSP") in terms of the Financial Advisory and Intermediary Services Act, 37 of 2002, FSP number 40169, and Ashburton Management Company RF (Pty) Ltd is an approved manager of Collective Investment Schemes in terms of Collective Investments Scheme Control Act, 45 of 2002 by the Financial Sector Conduct Authority (FSCA) and is also a full member of the Association for Savings and Investment SA (ASISA).
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In September, the Fund returned -2.01%, while the MSCI World Index returned +3.62%. The Fund returned -3.43% for the third quarter (Q3) versus +7.62% for the index, while for the year-to- date (YTD), the Fund has delivered +2.86% versus +18.44%.
The current environment has been challenging for our quality investing philosophy. It is important to remember that Global Brands is focused on owning the world’s most resilient companies and has historically offered lower volatility of earnings growth than the index over the long term. This resilient profile is currently at variance to a market lead by artificial intelligence (AI) conviction, high expectations generally and seemingly little concern for absolute risk. We have high conviction in the quality of the earnings streams of the companies we own, and their resilience should the market regime change.
Our team of investment specialists is ready to discuss how we can help you achieve your financial objectives.
Our team of investment specialists is ready to discuss how we can help you achieve your financial objectives.