Fund Type: Insync Global Quality Equity Fund

The Insync Global Quality Equity Fund returned 1.81% over the month and has gained 11.57% for the last 12 months to October 2025, consistent with the returns of the fund since inception

The Insync Global Quality Equity Fund returned 1.14% over the month and has gained 12.30% for the last 12 months to September 2025.

The Insync Global Quality Equity Fund returned -0.51% over the month and has gained 10.68% for the last 12 months to August 2025.

The Insync Global Quality Equity Fund returned -0.88% over the month and added 10.03% for the last 12 months to July 2025.

The Insync Global Quality Equity Fund added 2.53% over the quarter and returned 13.42% for the last 12 months to June 2025.

The Insync Global Quality Equity Fund added 2.99% in May, in comparison to a benchmark return of 5.16%. The underperformance during the month was primarily driven by our relative underweights in the U.S. megacap technology sector, particularly Nvidia, where we viewed valuations as excessive and maintained a conservative positioning, pricing and timing of the Switch 2 launch was understandable, as the new console was unveiled amid heightened geopolitical tensions following the U.S. announcement of sweeping reciprocal tariffs.

The Insync Global Quality Equity Fund returned -0.34% in April, outperforming the benchmark by 1.45%. Nintendo was the largest contributor to performance during the month. Initial market skepticism around the pricing and timing of the Switch 2 launch was understandable, as the new console was unveiled amid heightened geopolitical tensions following the U.S. announcement of sweeping reciprocal tariffs.

The Insync Global Quality Equity Fund returned 0.97% in the three months to March 2025, outperforming the benchmark by 2.91%. Key contributors to performance included our overweight position in Tencent and a zero allocation to NVIDIA.

The Insync Global Capital Aware Fund outperformed the benchmark in February. The Fund's protection level increased in January due to stretched valuations. The Insync Global Quality Equity Fund outperformed the benchmark in February.

Global equity markets demonstrated resilience and growth across January despite the challenges of unpredictable policies from President Trump, persistently high inflation, and the prospect of sustained elevated interest rates. Whilst US stocks rose, their return lagged against many other key markets.