EQUITY•US
Symbol
GNSRRUS LX
ISIN
LU1046546062
Overview
Objective
The Fund seeks to generate income with capital appreciation.The Fund seeks to achieve its objective by holding shares or similar instruments and MLP related securities of North American midstream energy companies (MLP related securities are entities treated as a corporation for US tax purposes rather than a partnership). Such companies are either based in or earn most of their profits or revenues from North America. The Fund may also invest in companies which are based anywhere in the world. The Fund will primarily seek exposure to Midstream companies but may also invest in Upstream and Downstream companies. Midstream energy companies are engaged in energy infrastructure activities including, but not limited to, transportation (pipelines), storage and processing. Midstream companies sit in between energy producer companies (for example exploration or drilling companies) (Upstream) and energy user companies (for example refiners or utilities companies) (Downstream).
Risk Profile
- Concentration risk this is a concentrated asset strategy that is likely to exhibit a significantly greater fluctuations in asset values than a broad investment in a wide range of shares of companies.
- Correlation risk the link between the value of the Portfolio and oil, gas and energy prices may vary significantly, particularly over short periods of time. An investment in the Portfolio should not be used to obtain exposure to movement in the price of oil.
- Counterparty risk a party that the Portfolio transacts with may fail to meet its obligations which could cause losses.
- Custodian risk insolvency, breaches of duty of care or misconduct of a custodian or subcustodian responsible for the safekeeping of the Portfolio's assets can result in loss to the Portfolio.
- Derivatives risk derivative instruments are highly sensitive to changes in the value of the underlying asset that they are based on. Certain derivatives may result in losses greater than the amount originally invested.
- Exchange rate risk changes in exchange rates may reduce or increase the returns an investor might expect to receive independent of the performance of such assets. If applicable, investment techniques used to attempt to reduce the risk of currency movements (hedging), may not be effective. Hedging also involves additional risks associated with derivatives.
- Liquidity risk the Portfolio may not always find another party willing to purchase an asset that the Portfolio wants to sell which could impact the Portfolio's ability to meet redemption requests on demand.
- Market risk the value of assets in the Portfolio is typically dictated by a number of factors, including the confidence levels of the market in which they are traded.
- Operational risk material losses to the Portfolio may arise as a result of human error, system and/or process failures, inadequate procedures or controls.
- Regulatory Risk the Portfolio invests in instruments which may be exposed to increased regulatory and tax risk. This risk may be related to a number of factors including but not limited to potential changes in tax incentives as well as increased regulation and costs due to environmental concerns.
- Small capitalisation companies risk investing in the securities of smaller, lesserknown companies may involve greater risk due to the less certain growth prospects, the lower degree of liquidity (see liquidity risk) of such shares and the greater sensitivity of small companies to changing economic conditions.
Fund Data
Performance
Allocations
Management Team
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