Beauty is in the eye of the investor!

Insync invested into Estēe Lauder 3 years ago. Why did we, how is this investment progressing and what are its prospects? To begin, Estēe Lauder meets Insync’s 3 key criteria; It was (and still is) on the right side of global disruption, benefitting from global megatrends. Is consistently highly profitable based on its ROIC (Return On Invested Capital) Strong management that’s future focused with its business well positioned In aggregate these factors have once again combined to produce compounding growth in earnings and cash flows. Here’s the Insync scoreboard on this count so far; From $87 per share to $185.70 today. Equating to an annual compound rate of 28.7% p.a. (USD). Compare this to

Insync September 2019 Fund Commentary

Performance Commentary Global equity markets proved resilient in the 3rd quarter of 2019. Most markets turned in relatively flat performance in local currencies, with the weak Australian dollar being the major contributor towards strong performance of the benchmark in AUD. This was achieved with a background of ongoing trade tensions, spiking oil prices and rising concerns about slowing global growth. US equity markets led, followed by non-US developed and emerging markets. On the monetary policy front, many central banks shifted toward accommodative stances with the Fed cutting its benchmark rate again in September following the cut in August. At the sector level, utilities, real estate and
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©2018 by Insync Funds Management Pty Ltd.

Disclaimer

The rating contained in this document is issued by SQM Research Pty Ltd ABN 93 122 592 036 AFSL 421913. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.