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American Fund

Investment Philosophy and Approach

The investment objective of the Findlay Park American Fund is to achieve capital growth principally through investment in the securities of companies in the Americas. We aim to achieve a return above the performance of the Russell 1000 Net 30% Total Return Index. While we are aware that our investors will reference a benchmark when it comes to performance, stocks are selected on their individual merits and fit with our investment philosophy, not with reference to the benchmark. We think about performance in absolute as well as relative terms.

We aim to control the downside risk in each investment we make in order to produce a compelling risk-adjusted compound rate of return over time.

Our starting point when looking at any stock for investment is not ‘how much can we make if we get it right?’ but ‘how much could we lose if we’re wrong?’ We aim to control the downside risk in each investment to generate a strong risk-adjusted compound rate of return, measured over decades. In doing so, we believe that we can generate higher compound returns for our investors by taking less risk.

Our investment philosophy has guided our research intensive process since the Findlay Park American Fund’s launch in 1998. This philosophy is the cornerstone of every investment decision we make at Findlay Park. We’ve codified it into a comprehensive list of questions that we ask ourselves on every company we consider investing in.

Fund Prices

Dollar Class - $143.33
Sterling Hedged Class - £73.51
Sterling Unhedged Class - £109.92
(NAV prices accurate as of close of the last relevant market on 18th February 2020.)

Fund Structure and Governance

The Findlay Park American Fund is an Irish domiciled Undertaking for Collective Investment in Transferable Securities (UCITS) with FCA Recognised status in the UK. The Fund has UK Reporting Status.

The Fund is registered for sale in the United Kingdom, Finland, Germany, Ireland, Italy (Institutional Clients only), Luxembourg, Singapore, Spain, Austria and Switzerland. The Fund may only be distributed in or from Switzerland to qualified investors. The Fund is classified as a restricted scheme by the Monetary Authority of Singapore (“MAS”) and is not authorised or recognised by the MAS. Accordingly, the Fund may only be distributed in Singapore to (i) institutional investors within section 4A of the Securities and Futures Act (Cap. 289) of Singapore (“SFA”), (ii) a relevant person within section 305(5) of the SFA or (iii) any person pursuant to section 305(2) of the SFA. None of the shares may be directly or indirectly offered or sold in the United States of America, or to or for the benefit of a US Person. Please see the Fund’s Prospectus for further details.

The Findlay Park American Fund is not marketed to new investors; however, it remains open to our existing investors and their underlying investors, current and new.

Share class information

Share Class Dollar Class Sterling Hedged Class Sterling Unhedged Class
SEDOL 0245867 B00J0F1 BWY58M2
ISIN IE0002458671 IE00B00J0F11 IE00BWY58M24
Ongoing Charge (capped) 1% 1% 1%
Performance Fee N/A N/A N/A
Dealing Charges N/A N/A N/A
Inception Date 9th March 1998 9th March 2004 11th May 2015

Fund Administrator

For fund administration and dealing services, please contact:

Brown Brothers Harriman Fund
Administration Services (Ireland) Ltd
30 Herbert Street, Dublin 2
D02 W329, Ireland
Registered No. 231236
T +353 1 603 6460
F +353 1 603 6310
findlayparkta@bbh.com

All data current as of 31st October 2019

Findlay Park American Fund Absolute Performance Since Inception

Source: Bloomberg. Past performance for the Fund is calculated using the USD share class, inclusive of any distributions, on a NAV to NAV basis and net of fees. Past performance should not be used as an indicator of future performance.

Cumulative Performance Data


wdt_IDFund NameYTDLast quarter1YR3YR5YR10YRSince Inception
1 Findlay Park American Fund 19.4 1.1 16.1 52.5 69.5 263.1 1197.0
2 Russell 1000 Net TR Index 22.5 1.3 13.5 48.5 60.4 241.0 300.1
3 S&P 500 Net TR Index 22.6 1.6 13.6 49.0 61.8 239.1 284.0
4 Russell 2000 Net TR Index 16.8 -2.5 4.5 35.0 39.9 205.8 314.9


Source: Bloomberg. Past performance for the Fund is calculated using the USD share class, inclusive of any distributions, on a NAV to NAV basis and net of fees. Past performance should not be used as an indicator of future performance.

Discrete Annual Performance Data


wdt_IDfundname20192018201720162015CAGR (Inception)
1 Findlay Park American Fund 26.8 0.8 23.0 9.1 2.0 12.8
2 Russell 1000 Net TR Index 30.7 -5.3 21.0 11.4 0.3 6.9
3 S&P 500 Net TR Index 30.7 -4.9 21.1 11.2 0.8 6.7
4 Russell 2000 Net TR Index 25.0 -11.4 14.2 20.8 -4.8 7.1


Source: Bloomberg. Past performance for the Fund is calculated using the USD share class, inclusive of any distributions, on a NAV to NAV basis and net of fees. Past performance should not be used as an indicator of future performance.

Benchmark

The benchmark for the Findlay Park American Fund is the Russell 1000 Net 30% Total Return Index.

The investment objective of the Findlay Park American Fund is to achieve capital growth principally through investment in the securities of companies in the Americas. We aim to achieve a return above the performance of the Russell 1000 Net 30% Total Return Index. While we are aware that our investors will reference a benchmark when it comes to performance, stocks are selected on their individual merits and fit with our investment philosophy, not with reference to the benchmark. We think about performance in absolute as well as relative terms.

Risk Summary

The value of investments and income from them may go down as well as up, and you may not get back the original amount invested. Where an investor’s own currency is different to the currency of the Fund’s investments, returns may be affected by fluctuations in currency exchange rates. Past performance is not a reliable indicator of future results. FPP accepts no liability for any loss or damage arising out of the use or misuse of or reliance on the information provided including, without limitation, any loss of profits or any other damage, whether direct or consequential.

Nothing contained in this document constitutes investment, accounting, tax or legal advice or an offer to sell, or a solicitation of any offer to buy, any interests or shares in any investment. Any subscription in the Fund will be subject to the terms, including a list of risk factors and conflicts of interest, set out in the Fund’s Prospectus, Key Investor Information Document and Supplementary Information Document. Copies of these documents are available https://www.findlaypark.com/american-fund/ (Documents).

Fund Documents

Findlay Park Funds PLC Prospectus

UK Reportable Income Reports

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