Contrarius Global Equity Fund - Investor
Fund Overview
Investment objective
The Fund aims to earn a higher Total Rate of Return than the average of the world's equity markets, as represented by the MSCI World Index, including reinvestment of dividends net of withholding tax. It aims to achieve this without greater risk of loss, over the long-term.
Fund description and investment policies
The Fund aims to be substantially invested in selected global equities and equity-related securities at all times, including but not limited to equities, depository receipts, preferred shares and real estate investments trusts.
The Fund employs Contrarius' valuation-based, contrarian investment philosophy to invest in selected global equities. Stocks are selected using proprietary investment research. The Fund does not seek to replicate the benchmark, is actively managed, and its holdings may differ materially from the benchmark in order to achieve its objective.
The Fund is suitable for investors who:
- are seeking a portfolio that is substantially fully invested in, and exposed to, global stocks at all times and who therefore accept exposure to movements in world markets.
- plan to stay invested for at least 5 years
- are prepared to take on a high level of risk of loss to their original capital in order to seek a higher potential return.
- use the Fund as a part of a portfolio of investments.
Fund and Fee Class Details
| Fund type | Open-ended Irish Collective Asset-management Vehicle |
| Investment manager | Contrarius Investment Management Limited |
| Benchmark | MSCI World Index, including the reinvestment of net income |
| Peer group | Average Global Equity Fund |
| Fund inception | 01 Jan 2009 |
| Reporting Currency | US Dollars |
| Fee class inception | 01 Jan 2009 |
| Dealing | Daily |
| Minimum initial investment | US$ 1,000 |
| Minimum subsequent transaction | US$ 1,000 |
| Management fee | Base fee of 1.25% per annum with a performance fee equivalent to 20.00% of the outperformance of the benchmark, subject to a high watermark |
| ISIN Number | IE00BD6GCJ53 |
| SEDOL code | BD6GCJ5 |
| Available on Calastone | No |
Performance
|
Contrarius Global Equity Fund - Investor, net
US$ (%) |
MSCI World Index
US$ (%) |
Average Global Equity Fund
US$ (%) |
| Performance to 25 Sep 2025 |
Returns in USD | Since Strategy Inception 01 Jan 2009 |
Last 10 Years |
Last 5 Years |
Last 3 Years |
Latest 1 Year |
Last 3 Months |
Latest 1 Month |
Graph Selection |
| Gross of Fees | |||||||||
| Contrarius Global Equity Fund | 17.8 | 16.2 | 33.0 | 28.9 | 55.6 | 30.7 | 19.3 | ||
| MSCI World Index | 11.6 | 12.2 | 14.5 | 22.7 | 16.6 | 7.9 | 2.0 | ||
| Net of Fees | |||||||||
| Contrarius Global Equity Fund - Investor | 15.1 | 14.3 | 31.4 | 27.3 | 53.7 | 30.3 | 19.2 | ||
| Average Global Equity Fund | 9.0 | 9.1 | 10.9 | 19.2 | 12.6 | 6.2 | |||
Past performance is not indicative of future performance. The value of investments may go down as well as up and investors may not get back the amount invested. Contrarius funds’ share prices fluctuate and are not guaranteed. Returns may decrease or increase as a result of currency fluctuations. There is no guarantee that an investor's capital will be preserved. Please consider the Fund's most recent Prospectus, Supplemental Prospectus and Key Investor Information Document and seek your own independent financial advice tailored to your personal circumstances before deciding whether to invest in the Fund.
Gross returns are calculated gross of all income, assume reinvestment of dividends and are net of expenses excluding investment management fees. Net returns are calculated gross of all income, assume reinvestment of dividends and are net of expenses and investment management fees. Returns are based on valuations using prices at market close. Returns, other than for periods less than one year, are annualised.
Since 30 June 2016, the Sub-Fund has been priced daily. From inception up to 30 June 2016, the Sub-Fund was priced weekly. Performance prior to 30 June 2016 was while the Sub-Fund was a Jersey domiciled fund.
With effect from 1 July 2020, a separate Series for each performance fee paying Fee Class of the Sub-Fund is issued on each Dealing Day for subscriptions. Any shares issued prior to 1 July 2020 will be part of the Initial Series of the Fee Class. The performance information shown above is for the Initial Series.
The benchmark for the Contrarius Global Equity Fund is the MSCI World Index, including the reinvestment of net income ("MSCI World Index"). The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an "as is" basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the "MSCI Parties") expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages (www.msci.com). All index returns for the Equity Strategy include the reinvestment of net income.
Average fund data source is © 2025 Morningstar Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The latest average fund index sourced from Morningstar is for 18 September 2025. To allow comparison of returns to a common date the average fund index has been extended to reflect the subsequent movement of the Benchmark Index. The Average Global Equity Fund is comprised of Global Large-Cap Blend Equity funds which invest principally in the equities of large-cap companies from around the globe as defined by Morningstar.
Holdings and Exposures
As at 31 Aug 2025
| Top 10 Holdings | ||
| Rank | Security | % Fund |
| 1 | Tesla | 9.3 |
| 2 | Warner Bros. Discovery | 7.3 |
| 3 | Paramount Skydance | 7.2 |
| 4 | Alibaba Group Holding - ADR | 5.7 |
| 5 | Baidu – ADR | 4.4 |
| 6 | NVIDIA | 4.4 |
| 7 | Swatch Group | 3.8 |
| 8 | Fox | 3.8 |
| 9 | Unity Software | 3.7 |
| 10 | Alphabet - A | 3.7 |
| Total | 53.2 | |
| Sector Exposure | |
| Sector | % Fund |
| Communication Services | 33.1 |
| Consumer Discretionary | 26.9 |
| Consumer Staples | 1.4 |
| Energy | 2.1 |
| Financials | 4.2 |
| Health Care | 3.5 |
| Industrials | 0.7 |
| Information Technology | 25.0 |
| Materials | 2.2 |
| Real Estate | 0.0 |
| Utilities | 0.0 |
| Net Current Assets | 0.8 |
| Total | 100.0 |
| Geographic Exposure | |
| Region | % Fund |
| North America | 74.0 |
| Europe | 8.0 |
| Japan | 0.2 |
| Asia ex-Japan | 16.8 |
| Other | 0.2 |
| Net Current Assets | 0.8 |
| Total | 100.0 |
Totals may not sum due to rounding.
Documents
Monthly Fact Sheet / MDD
Quarterly Commentary
How to Invest
Invest Directly:
You can open a Contrarius account by completing and submitting an account opening form, accompanied by the appropriate supporting documentation.
Please download the account opening form by clicking on the relevant link. Once completed, please email to administrator@contrarius.com or fax to +353 21 463 3377.
The Administrator will contact investors to confirm receipt of your documentation.
Please refer to the account opening form for information on the relevant minimum initial investment and minimum subsequent transaction amounts applicable to the fund and fee class you wish to invest in.
If you require financial advice or need more information about the nature of investment funds, please contact your registered financial advisor.
Important Information for Investors
Waystone Management Company (IE) Limited (“Manager”) is authorised and regulated by the Central Bank of Ireland. Contrarius Investment Management Limited (“Investment Manager”) is regulated by the Jersey Financial Services Commission and can be contacted at clientservice@contrarius.com. Contrarius Investment Services (South Africa) (Pty) Ltd is a member of the Association for Savings & Investment South Africa. Contrarius Investment Services (South Africa) (Pty) Ltd (FSP48937) is an authorised financial services provider with the Financial Sector Conduct Authority of South Africa in terms of the Financial Advisory and Intermediary Services Act (“FAIS”). The Fund’s Administrator is Apex Fund Services (Ireland) Limited and can be contacted at administrator@contrarius.com.
Collective Investment Schemes (CIS) are generally medium to long-term investments. The value of an investment in the Fund may go down as well as up, and past performance is not a reliable indicator of future results. Returns may decrease or increase as a result of currency fluctuations. The Investment Manager provides no guarantee with respect to capital or the Fund’s returns. CIS are traded at ruling prices. Contrarius ICAV may only engage in limited borrowing to fund redemptions and may not engage in scrip lending. A schedule of fees and charges and maximum commissions is available on request from the Investment Manager. Individual investors’ performance may differ as a result of investment date, reinvestment date and dividend withholding tax, as well as a levy that may apply in the case of transactions representing more than 5% of the Fund’s net asset value. The Fund may be closed to new investments at any time in order to be managed in accordance with its mandate. The Fund invests in foreign securities. Depending on their markets, trading in those securities may carry risks relating to, among others, macroeconomic and political circumstances, constraints on liquidity or the repatriation of funds, foreign exchange rate fluctuations, taxation and trade settlement.
Investments in the Fund are made according to the terms and conditions and subject to the restrictions set out in the Prospectus. The offering of shares in the Fund may be restricted in certain jurisdictions. Please contact the Contrarius Client Service team to confirm if there are any restrictions that apply to you. The Sub-Fund of Contrarius ICAV described in this report, has been approved for marketing in South Africa in terms of section 65 of the Collective Investment Schemes Control Act, 2002 by the South African Registrar of Collective Investment Schemes.
