Page 172 - Profile's Unit Trusts & Collective Investments - September 2025

Chapter 9 Fund manager interviews

Long Beach Worldwide Flexible Prescient Fund
Sector: Worldwide–Multi Asset–Flexible
Portfolio manager: David Hansford
Benchmark: ASISA Worldwide Multi Asset Flexible Sector Average

Returns to investors 1 year 3 years
Long Beach Worldwide Flexible Prescient Fund 48.29% 38.42%
Sector Average 13.63% 15.01%
Inflation (CPI) 3.02% 4.49%
ProfileData performance stats to 30 June 2025: CAGR with dividends reinvested

Describe your investment universe
The Long Beach Worldwide Flexible Prescient Fund is a flexible global investment portfolio and
sits in the ASISA Worldwide Multi Asset Flexible unit trust sector. The Long Beach Worldwide Flexible
Prescient Fund is designed for investors looking for long term growth through a carefully selected
global investment portfolio. The fund is actively managed and provides access to a focused portfolio
of international equities, ETFs, listed property, fixed income, and commodities, with the flexibility to
shift between asset classes as global opportunities evolve.
Comment on your investment year (July 2024 – June 2025) from a fund manager’s point of view
The Long Beach Worldwide Flexible Prescient Fund returned 48.3% for the period 1 July 2024
to 30 June 2025, this compares favourably with the fund’s benchmark return of 13.3% (ASISA
Worldwide Multi Asset Flexible Sector Average). Long Beach takes a long term view on security
selection, and a number of the fund’s holdings, which have been held for several years, contributed
positively to the fund’s performance, including Cloudflare, Shopify, Naspers, Uber and DoorDash.
In terms of risk management, what methods or strategies are you able to use to protect your
clients’ investments?
Long Beach takes a deliberate approach, meaning there are certain strategies we avoid, to preserve
the clarity and integrity of our investment process. We believe buying exceptional companies, and
patiently holding them for the long term, leads to the best investment results.
Long Beach does not attempt to predict short term market movements. Instead, we focus on the
quality and long term potential of each of the businesses we own. Long Beach makes minimal use
of derivatives, and generally does not attempt to hedge currency exposures, trusting instead in the
long term value of the global businesses in which we invest.
Comment on the year ahead and, if possible, estimate the performance of your fund over 2 or
3 years. What are your targets and objectives for the year ahead?
We are confident the Long Beach Worldwide Flexible Prescient Fund is well positioned to serve
investors in the year ahead and in the long term. The fund’s holdings comprise well managed, global
companies, investing in AI and innovation, with large addressable markets and long runways for
growth.
In the year ahead, the US fed is likely to further cut interest rates. Europe’s fiscal spending is
increasing significantly to fund defence, and a moderately weaker dollar will allow large emerging
markets to provide both monetary and fiscal stimulus. These factors will continue to create a positive
environment for global risk assets, including equities, notwithstanding a raucous geopolitical
environment and ongoing trade frictions.
Are equity markets in general overpriced? Do you anticipate a significant correction?
Long Beach believes the best investment results come from an optimistic mind-set and positive
approach. It is all too easy to get caught up in the negativity of daily news headlines. The human
capacity for creativity, resilience, innovation, adaptability and growth is unlimited, and a positive, and
open mind-set will always yield the best investment results.

170 Profile’s Unit Trusts & Collective Investments September 2025