Vanguard FTSE 100 UCITS ETF · LSE:VUKE
Vanguard FTSE 100 UCITS ETF — Vanguard Global Equity Income Fund — Corporate Update (March 2024)
15 slides from Vanguard FTSE 100 UCITS ETF's corporate update, Mar 31, 2024
Slide 1: Q1 2024 Update
Vanguard Q1 2024 Update Global Equity Income Fund Perry Marsden National Active Investment Specialist Madison McCall Investment Product Manager This document is directed at professional investors and should not be distributed to, or relied upon by retail investors. This document is designed for use
Slide 2: Equity market performance
Equity market performance Vanguard
Slide 3: Equity market returns
Equity market returns Previous quarter equity index returns in GBP (%) 11.6 9.8 8.8 3.6 3.3 US equities Developed equities Global equities UK equities Emerging markets Past performance is not a reliable indicator of future results. Source: Vanguard, data shows 3 months to 31 March 2024. Index return
Slide 4: Leadership was consistent across developed, emerging and UK markets
Leadership was consistent across developed, emerging and UK markets Quarterly sector returns in GBP (%) FTSE Developed Index FTSE All-World Emerging Index FTSE All-Share Index Technology 14.18 9.66 3.43 Financials 11.43 1.51 3.81 Energy 10.00 9.25 4.23 Industrials 9.82 3.97 10.25 Consumer Discretion
Slide 5: Fund performance and characteristics
Fund performance and characteristics
Slide 6: Vanguard Global Equity Income Fund
Vanguard Global Equity Income Fund Analyst-Driven %: 10% What the fund seeks to achieve Data Coverage %: 66% The Fund seeks to provide an annual level of income (gross of fees) greater than that of the FTSE Developed Net Tax (UK UCITS) Index (the “Index”) together with an increase in the value of in
Slide 7: Performance since inception
Vanguard Global Equity Income Fund Performance since inception (GBP accumulation shares) 310 Vanguard Global Equity Income Fund IA Global Equity Income FTSE Developed Net Tax (UK UCITS) Index in GBP Rebased to 100 260 210 160 110 60 May-16 Oct-16 Mar-17 Aug-17 Jan-18 Jun-18 Nov-18 Apr-19 Sep-19 Feb-
Slide 8: The power of multiple fund managers
Vanguard Global Equity Income Fund The power of multiple fund managers 2016 2017 2018 2019 2020 2021 2022 2023 Excess return (%) (3-month cumulative returns) Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Breakdown of each fund
Slide 9: US value shares appear depressed relative to growth
US value shares appear depressed, even in the context of a long-running decline in their relative value Value stock price-to-book ratio divided by growth stock price-to-book ratio 0.35 ↑ Growth underperforms 0.30 Value stock price/book divided by 0.25 Growth stock price/book 0.20 0.15 ↓ Growth outpe
Slide 10: Performance analysis
Vanguard Global Equity Income Fund Performance analysis Top contributors 3-month (%) Top detractors 3-month (%) Portfolio Bench 3-month Total Portfolio Bench 3-month Total Company name weight weight return effect Company name weight weight return effect Apple Inc. 0.0 3.8 -10.0 0.9 NVIDIA Corporatio
Slide 11: Country weightings
Vanguard Global Equity Income Fund Country weightings Country Top 5 overweight (%) Fund allocation (%) Benchmark allocation (%) United Kingdom +7.7 11.6 3.9 France +6.0 9.1 3.0 Norway +2.2 2.4 0.2 Italy +2.1 2.9 0.8 Canada +2.0 4.7 2.7 Country Top 5 underweight (%) Fund allocation (%) Benchmark allo
Slide 12: Sector weightings
Vanguard Global Equity Income Fund Sector weightings Country and sector allocations are a result of bottom-up, fundamental analysis and valuation-sensitive philosophy Sector Over/under weighting (%) Fund allocation (%) Benchmark allocation (%) Financials +10.7 24.4 13.6 Utilities +6.3 9.0 2.7 Energy
Slide 13: Top 10 holdings
Vanguard Global Equity Income Fund Top 10 holdings Company name Fund (%) TotalEnergies SE 2.1 Novartis AG 2.1 Cisco Systems Inc. 2.1 Johnson & Johnson 1.9 BAE Systems plc 1.9 Bank of America Corp. 1.9 Philip Morris International Inc. 1.7 Home Depot Inc. 1.7 Merck & Co. Inc. 1.7 Industria de Diseno T
Slide 14: Investment risk information
Investment risk information The value of investments, and the income from them, may fall or rise and investors may get back less than they invested. Past performance is not a reliable indicator of future results. Some funds invest in emerging markets which can be more volatile than more established
Slide 15: Important information
Important information This is directed at professional investors and should not be distributed to, or relied upon by retail investors. For further information on the fund's investment policies and risks, please refer to the prospectus of the UCITS and to the KIID before making any final investment d
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