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Global Dividend Fund


The Global Dividend Fund is an actively managed equity portfolio, which holds 30-50 global high yield stocks. The portfolio is managed in accordance with the Setanta investment philosophy. That is, the managers seek to own good businesses for the long-term at prices below what they think they’re worth, carefully considering each investment’s risk profile. The Fund further distils this philosophy by targeting stocks where management have both the willingness and ability to distribute meaningful dividends to shareholders.

The fund is managed by three portfolio managers, who also look to leverage off the experience and knowledge of their colleagues. The aim is to achieve a sensible level of diversification on a sector and geographic basis. Stocks are chosen through bottom-up analysis, based on investment merit. The fund can hold up to 10% cash where investments of sufficient quality cannot be found. Rather than focusing on the historic level of volatility of an asset, the portfolio managers regard the probability of permanent impairment of capital as the most relevant measure of risk. In doing so, they seek to maximise downside protection by understanding the risks posed by the valuation, financial, and operational characteristics of the asset.

The Fund’s active share, a measure of overlap versus the benchmark, is typically around 90%, a level that is generally considered highly differentiated.


Investment Objective:

The investment objective of the Fund is to outperform the MSCI High Yield index over the long term.

Key Information & Disclosures(s)

The Dividend All-Equity Fund is managed by Setanta Asset Management Limited and is a representative account of the Dividend strategy. The Fund is currently available in Ireland via a unit-linked offering of Irish Life Assurance. It is also available in Germany, via a unit-linked offering of Canada Life Assurance Europe plc. Learn more

For these life assurance products, investors should refer to the relevant policy conditions. The strategy is also available on a segregated basis to institutional investors.

The EU Sustainable Finance Disclosure Regulation (“SFDR”) requires a determination, on a product-by-product basis, whether sustainability risks are relevant to financial products. For the purposes of SFDR, “sustainability risk” means an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of an investment.

While sustainability risks might (from an economic perspective) have a material negative effect on the returns of the Dividend Strategy, we have determined that sustainability risks are not relevant to the Strategy. The Strategy does not expressly promote or have a core objective concerning sustainability matters as set out in SFDR, or expressly oblige Setanta to integrate sustainability risks into its investment decision making and/or assess the likely impacts of sustainability risks on the returns of the Strategy.

Setanta will keep its assessment that sustainability risks are not relevant to the Strategy under regular review. Setanta has implemented a policy in respect of the integration of sustainability risks in its investment decision making process on a firm-wide basis. This policy is available here.

The investments underlying this financial product do not take into account the EU criteria for environmentally sustainable economic activities.

WARNING: Past performance is not a reliable indicator of future results. The price of units and the income from them may go down as well as up and investors may not get back the amount invested. The return may increase or decrease as a result of currency fluctuations. Forecasts are not a reliable indicator of future performance.