As lockdowns lift in some parts of the world, many of us are still miles away from our lives as we knew them pre-pandemic. Society, the economy and the markets continue to come to terms with, and live alongside COVID-19 and we continue to watch how companies adapt. One significant adjustment we are seeing is in supply chains.
In this month’s commentary, Ty Lee shares his view on the evolution of supply chains – from just in time to just in case. Companies were already scrambling to restructure their supply chains to minimise the impact of trade tariffs, when the COVID-19 pandemic hit the world. The pandemic fully exposed the vulnerability of global supply networks. How will supply chains be re-structured? And what companies will benefit from this change? We believe technology and automation will be key in this shift.
WHEB recently published our 6th annual Impact Report, “Solutions in a Time of Crisis”, for those of you that missed it please visit https://impact.pengana.com to have a read. The findings of this report were discussed on a recent webinar with George Latham and Seb Beloe. A recording of the webinar is available below.
This past month has also been something of an awards season for WHEB over in the UK, having won the “Outstanding Achievement in Sustainable and ESG Investing” award at the Investment Week’s Fund Manager of the Year 2020, and the “Boutique Investment Manager of the Year” award in the 2020 Sustainable Investment Awards from Environmental Finance. We could not be more thrilled!
||Agilent Technologies||United States||Health Care|
||Cerner||United States||Health Care|
||Danaher||United States||Health Care|
||Intertek Group||United Kingdom||Industrials|
||MSA Safety||United States||Industrials|
||Thermo Fisher Scientific||United States||Health Care|
|1 Month||1 Year||3 Years P.A.||5 Years P.A.||SINCE INCEPTION|
|Strategy (partial simulation2)||9.3%||7.8%||5.8%|
|VOLATILITY3||13.2%||NUMBER OF STOCKS||51|
Partner, Fund Manager
Partner, Head of Research
The Pengana WHEB Sustainable Impact Fund invests in companies with activities providing solutions to sustainability challenges. WHEB have identified critical environmental and social challenges facing the global population over coming decades including a growing and ageing population, increasing resource scarcity, urbanisation and globalisation. The Fund invests in companies providing solutions to these sustainability challenges via nine sustainable investment themes – five of these are environmental (cleaner energy, environmental services, resource efficiency, sustainable transport and water management) and four are social (education, health, safety and well-being). WHEB’s mission is ‘to advance sustainability and create prosperity through positive impact investments.’
|International Fund||High Conviction Property Securities Fund||Australian Equities Fund||International Ethical Fund|
|Global Small Companies Fund||WHEB Sustainable Impact Fund||Emerging Companies Fund||High Conviction Equities Fund|
|Pengana International Equities Limited (ASX: PIA)||International Fund - Ethical Opportunity||Private Equity Trust (ASX: PE1)||Alpha Israel Fund|
1. From August 2017, performance figures are those of the Pengana WHEB Sustainable Impact Fund’s class A units (net of fees and including reinvestment of distributions). The strategy’s AUD performance between January 2006 and July 2017 has been simulated by Pengana from the monthly net GBP returns of the Henderson Industries of the Future Fund (from 1 January 2006 to 31 December 2011) and the FP WHEB Sustainability Fund (from 30 April 2012 to 31 July 2017). This was done by: 1) converting the GBP denominated net returns to AUD using FactSet’s month-end FX rates (London 4PM); 2) adding back the relevant fund’s monthly ongoing charge figure; then 3) deducting the Pengana WHEB Sustainable Impact Fund’s management fee of 1.35% p.a. The WHEB Listed Equity strategy did not operate between 1 January 2012 and 29 April 2012 – during this period returns are zeroed. The Henderson Industries of the Future Fund’s and the FP WHEB Sustainability Fund’s GBP net track record data is historical. Past performance is not a reliable indicator of future performance. The value of the investment can go up or down.
2. The Fund incepted on 31 October 2007 as the Hunter Hall Global Deep Green Trust. The Fund was relaunched on 1 August 2017 as the Pengana WHEB Sustainable Impact Fund employing the WHEB Listed Equity strategy. This strategy was first employed on 1 January 2006 by the Henderson Industries of the Future Fund and currently by the FP WHEB Sustainability Fund.
3. Annualised standard deviation since inception.
4. Relative to MSCI World Total Return Index (net, AUD unhedged)
* For further information regarding fees please see the PDS available on our website.