Ninety One International Franchise Fund
Data updated: 2025-01-13
C000229635 — Ninety One International Franchise Fund. Europe Mid Cap Growth Industrials Equity · $4.90M AUM. Holdings, fees, performance and SEC filings.
C000229635 Fund Overview
Ninety One International Franchise Fund is a US mutual fund managed by Advisors' Inner Circle Fund III, categorised as Europe Mid Cap Growth Industrials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Advisors' Inner Circle Fund III
- Category: Europe Mid Cap Growth Industrials Equity
- Assets under management: $4.90M
- 1-year return: 25.8%
- SEC CIK: 0001593547
- SEC series ID: S000072934
- Share class ID: C000229635
C000229635 Investment Objective and Strategy
Ninety One International Franchise Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisors' Inner Circle Fund III.
Investment objective
The Ninety One International Franchise Fund (the Fund) seeks long-term capital growth.
Principal investment strategy
Under normal circumstances, the Adviser seeks to achieve the Funds investment objective by investing primarily in international companies that the Adviser believes have rare and exceptional qualities that create enduring competitive advantages, such as strong brands, franchises or unique intellectual property; dominant market positions; well capitalized balance sheets; and attractive reinvestment opportunities. The Fund may invest in companies located in both developed and emerging market countries. Under normal circumstances, the Fund invests in at least three countries, and invests at least 40% of its total assets in securities of non-U.S. companies. If conditions are not favorable, the Fund will invest at least 30% of its total assets in securities of non-U.S. companies. The Fund considers a company to be a non-U.S.
company if: (i) at least 50% of the companys assets are located outside of the U.S.; (ii) at least 50% of the companys revenue is generated outside of the U.S.; (iii) the company is organized or maintains its principal place of business outside of the U.S.; or (iv) the companys securities are traded principally outside of the U.S. The equity securities in which the Fund invests are primarily common stocks, but may also include American Depositary Receipts (ADRs), European Depositary Receipts (EDRs) and Global Depositary Receipts (GDRs and, together with ADRs and EDRs, Depositary Receipts). Although the Fund may invest in securities of companies with any market capitalization, the Fund generally invests in medium and large capitalization companies. The Fund typically invests in securities of approximately 25-40 companies.
From time to time, the Fund may invest a significant amount of its assets in a particular country, such as the Peoples Republic of China (China). The Fund may invest in A Shares of companies incorporated in China (China A Shares) that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange through the Shanghai Hong Kong and Shenzhen Hong Kong Stock Connect programs (Stock Connect). Stock Connect is a mutual stock market access program designed to, among other things, enable foreign investments in China. The Fund may also invest in China through H Shares, which are shares of companies incorporated in China that are traded on the Hong Kong Stock Exchange. In selecting investments to buy for the Fund, the Adviser uses a fundamental research process to seek to identify attractively valued companies that, in its opinion, represent strong long-term investment opportunities considering the companys quality, growth and valuation.
The Adviser seeks to maintain a portfolio with consistent long-term returns at below average levels of risk relative to the broader international equity market. The Adviser will consider whether to sell an investment using the same fundamental research process it uses to identify potential purchases. The Adviser may sell a security for a variety of reasons such as because it becomes overvalued or shows deteriorating fundamentals, or to invest in a company believed by the Adviser to offer superior investment opportunities. The Fund is classified as non-diversified, which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
C000229635 Holdings
Top 10 holdings of Ninety One International Franchise Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Sap SE | 8.85% |
| Constellation Software Inc. | 6.21% |
| Mastercard Incorporated. | 6.08% |
| London Stock Exchange Group PLC | 5.13% |
| Essilorluxottica SA | 4.99% |
| Taiwan Semiconductor Manufacturing Co., Ltd. | 4.47% |
| Wolters Kluwer N.V. | 4.33% |
| L'oreal SA | 3.55% |
| Philip Morris International Inc. | 3.50% |
| Alcon AG | 3.49% |
C000229635 Portfolio Allocation
Asset-class allocation of Ninety One International Franchise Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.7% |
C000229635 Performance
Total returns for C000229635 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 25.8% |
| 3 years (annualised) | 3.0% |
C000229635 Risk Information
Risk metrics for C000229635, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.9%
C000229635 Costs and Fees
C000229635 costs about $85 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.85%
- Gross expense ratio: 12.98%
- Portfolio turnover: 8%
- Brokerage commissions: 2.67 bps of average net assets (SEC N-CEN)
C000229635 Cashflows
Over the 12 months to 2024-10, Ninety One International Franchise Fund had net inflows of $3.09M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-10 | $3.29K |
| 2024-09 | $2.73K |
| 2024-08 | −$20.39K |
| 2024-07 | $3.65K |
| 2024-06 | $1.76K |
| 2024-05 | $7.01K |
C000229635 Debt Constituents
No individual debt constituents are reported in Ninety One International Franchise Fund's latest SEC N-PORT filing.
C000229635 Prospectus and SEC Filings
Official Ninety One International Franchise Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-02-28
- Prospectus (485BPOS) — filed 2023-02-28
- Prospectus supplement (497) — filed 2022-03-02
- Portfolio holdings (N-PORT) — filed 2024-12-30
- Portfolio holdings (N-PORT) — filed 2024-09-30
- Portfolio holdings (N-PORT) — filed 2024-06-28
- Annual census (N-CEN) — filed 2025-01-13
- Annual census (N-CEN) — filed 2024-01-12
Related Funds
Other Europe Mid Cap Growth Industrials Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.