SECTOR OVERVIEW

In numbers

FRANK TALBOT
Head of Investment Research, CITYWIRE

Long-term track record of the PineBridge Global Focus Equity Fund

During Rob Hinchliffe and his teams’ tenure managing the fund, they have outperformed the average manager in the Citywire Equity - Global Blend peer group and moved ahead of the challenging MSCI ACWI index which is representative of global equity returns. Of particular note has been the performance since the nadir of the pandemic crash in March 2020. The graphic shows the portfolio’s returns since the fund changed the benchmark to the MSCI ACWI, which is more reflective of the fund’s strategy.


PineBridge Global Focus Equity rankings in Morningstar’s Global Large-Cap Blend Equity category

The fund ranked first in its category over three years as well as delivering top-quartile performance over one, five and ten years to 31 December 2022.


The below data was supplied by PineBridge and not Citywire’s investment research team.

The PineBridge Global Focus Equity Fund has delivered a differentiated portfolio with strong relative risk/reward characteristics in a challenging market environment
Active Weight

SOURCE: Morningstar, data as of 31 December 2022.

Looking at the chart above, PineBridge Global Focus Equity Fund’s alpha could be attributed to the stock selection.

Methodology: List of 25 competitor funds from the sales team which we are most likely to come up against in RFP pitches. Ordered from largest to smallest AUM. The Sum of Active Weight - top 10 stocks is the absolute sum of active weights of the largest 10 stocks in the portfolio. The information ratio of the representative account is the trailing 3-year Excess Return vs. MSCI ACWI divided by the 3-year Tracking Error vs. MSCI ACWI. Diversification does not ensure against market loss.
Methodology:
• Ordered from largest to smallest AUM
• Tracking Error is calculated as the standard deviation of monthly excess returns vs MSCI ACWI NR USD since PM inception date (Jan 2016)
• Excess Return Correlation is calculated as the correlation between PineBridge Global Focus Equity’s monthly excess returns (vs MSCI ACWI NR USD) and those of the competitor funds’ since PM inception date (Jan 2016)

PineBridge Global Focus Equity Fund versus Morningstar Global Large-Cap Blend Equity

Correlation of Excess Returns

Of interest is the fund’s excess return correlation to the entire Global Large-Cap Blend Equity universe in Morningstar. The PineBridge Global Focus Equity Fund has low correlations across all periods, which means that the fund’s holdings are differentiated from their peers. Investors seeking to diversify their global equity exposure may have additional alpha opportunity through uncorrelated exposure, which the fund has provided historically.

SOURCE: Morningstar, data as of 31 December 2022. *Start date of the lead PM is 01 January 2016. The peer group is the Morningstar Global Large-Cap Blend Equity Universe. The peer group had 1,642 members in the 1-year period, 1,318 members in the 3-year period, 1,089 members in the 5-year period and 997 in the since inception period. All data, including rankings are calculated by Morningstar using monthly returns. Third-party rankings and recognition from rating services or publications are no guarantee of future investment success. Working with a highly rated advisor does not ensure that a client or prospective client will experience a higher level of performance or results. A more detailed disclosure of the criteria used in making these rankings can be provided upon request.
Methodology:
• Ordered from largest to smallest AUM
• Tracking Error is calculated as the standard deviation of monthly excess returns vs MSCI ACWI NR USD since PM inception date (Jan 2016)
• Excess Return Correlation is calculated as the correlation between PineBridge Global Focus Equity’s monthly excess returns (vs MSCI ACWI NR USD) and those of the competitor funds’ since PM inception date (Jan 2016)

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