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FACTSHEET
RISK DISCLOSURE STATEMENT
• The Fund is exposed to equity risk and may
invest in a limited number of market(s) or
holdings which may involve additional risks (e.g.
liquidity, volatility, concentration and Eurozone
debt crisis risks).
• The Fund may use financial
derivative instruments to limited extent.
•
Dividends may be paid out of capital of the Fund at
the discretion of the Manager. This amounts to a
return or withdrawal of part of an investor’s
original investment or from any capital gains
attributable to that original investment and may
result in an immediate decrease in NAV.
•
Investors may be subject to substantial losses.
• Investors should not rely solely on this material
to make investment decisions.
PineBridge Global Focus Equity Fund
MARKET REVIEW
The MSCI ACWI posted a negative result in March, although performance varied widely across geographies.
Weakness in the US, France and the UK was partially offset by gains in Germany and Japan. The Chinese
market posted healthy gains.
FUND ATTRIBUTION & POSITIONING
The Fund underperformed its benchmark index during March, primarily driven by laggards in the Financials
and Consumer Discretionary sectors, which was only partially offset by strong performance in the Fund’s high
conviction overweight to Health Care. From a stock perspective, HCA and Catcher were among the biggest
contributors to performance.
Despite elevated volatility in the markets, the Fund retains its high-conviction positions in both Health Care
and Information Technology. In March, a new position in Comcast was added, which is one of several stocks
that fit into the Team’s digital mobile transition theme. The Fund’s positon in Actavis was increased, as it is
believed to be poised to outgrow its industry over the long-term. The Fund’s position in Visa was sold.
MARKET OUTLOOK
The Team believes that market volatility will continue to rise, driven by mixed expectations regarding the
timing of the first US interest rate hike and currency devaluations elsewhere. The Team’s efforts continue to
focus on finding undervalued equities where underlying fundamentals are better than valuation implies.
Objective
To achieve growth at a
reasonable price by making
equity and equity-related
investments in global markets
with a focus on superior and
sustainable earnings
performance.
Fund Size
USD 244.0 million
NAV Per Unit
Y - USD 158.0154
L - USD 153.1447
A - USD 21.0758
Wtd Avg Mkt Cap
USD 107,511 million
No. of Securities
40
Inception Date
Y - 7 Jan 1999
L - 7 Jan 1999
A - 9 Dec 2003
Benchmark
MSCI ACWI Index
Currency
Y - USD
L - USD
A - USD
Min. Investment
Y - USD 1 million
L - No minimum
A - USD 1,000
Initial Charges
Maximum 5%
Management Fee
Y - 1.00%
L - 1.25%
A - 1.30%
ISIN
Y - IE0004896431
L - IE0033528617
A - IE0034235188
Bloomberg
Y - PBIGEGI
L - PBIGEGL
A - PBIGEGA
Fund Manager(s)
Graeme Bencke
Rating(s)
Morningstar
PERFORMANCE % - Class L
For periods to 31 March 2015
Calendar
2013
2012
2011
2010
Period
3 Mth
1 Yr
3 Yr
5 Yr Since Incep.
Fund %
2015 YTD 2014
2.7
4.1
23.2
15.2
-13.3
8.2
Fund %
2.7
5.5
33.7
40.5
70.9
Benchmark %
1.8
2.6
26.7
15.8
-5.5
11.8
Benchmark %
1.8
3.3
37.4
56.8
93.1
Fund performance is calculated net of fees and on a cumulative basis. NAV to NAV IN USD with income reinvested.
TOP FIVE HOLDINGS
Sector
Actavis Plc
Health Care
7.1
Apple Inc
Information Technology
6.4
Comcast Corp
Telecom Services
6.1
CVS Corp
Consumer Staples
5.2
Ace Ltd
Financials
TOTAL
Fund %
4.2
29.0
SECTOR BREAKDOWN
COUNTRY BREAKDOWN
Information Technology
Investment involves risks. Past performance is not indicative of future performance. Investors should refer to the offering documents for details, including risk factors. All information as of 31 Mar 2015. Unless otherwise noted, all
information is sourced from PineBridge Investments internal data. PineBridge Global Focus Equity Fund (the "Fund") was renamed from PineBridge Global Equity Fund on 29 March 2011 and is a sub-fund of PineBridge Global Funds,
an Irish domiciled UCITS umbrella fund, authorized and regulated by the Central Bank of Ireland. The Fund was formed as a successor fund to AIG Global Equity Fund plc ("the Company") following a scheme of amalgamation with the
Company and was launched on 29 Jul 2005. On 19 Feb 2013, PineBridge Investments Europe Limited is appointed as co-investment manager to manage the Fund in tandem with the existing investment manager, PineBridge
Investments LLC. From 10 February 2014, the benchmark is changed from MSCI World DTR Net to MSCI ACWI Index. On 1 March 2011, the benchmark of the Sub-Fund was changed. Performance is representative of Class 'L' in U.S.
Dollars of the Company up to 29 Jul 2005, and of Class 'L' of the Fund from that date. The PineBridge Global Funds were renamed from AIG Global Funds on 7 April 2010, and the sub-funds replaced "AIG" with "PineBridge" in their
sub-fund names. PineBridge Investments is a group of international companies that provide investment advice and market asset management products and services to clients around the world. PineBridge Investments is a registered
trademark proprietary to PineBridge Investments IP Holding Company Limited. Services and products are provided by one or more affiliates of PineBridge however certain incidental middle and back office services may be outsourced
to 3rd parties. This material is issued by PineBridge Investments Asia Limited and has not been reviewed by the Securities and Futures Commission. Morningstar Rating™ Source: Morningstar Essentials™. Copyright © 2015
Morningstar, Inc. All Rights Reserved. Morningstar Rating as of 31 Mar 2015, in the GLOBAL LARGE-CAP BLEND EQUITY Morningstar Category. Morningstar Performance ratings shown reflect the share class performance shown
unless noted otherwise.