Herald Worldwide Fund NAV Performance (Class A)
The Herald Worldwide Fund (HWF) is an Open Ended Investment Company (OEIC) which seeks to achieve capital growth, in excess of the average, by investing in quoted companies in the technology, communications and multi-media sectors. As its name suggests, the fund invests in companies worldwide, but especially the UK and the US. The fund is domiciled, listed on the Irish Stock Exchange and administered in Dublin. Having UCITS status, it is marketable throughout Europe.
Live Herald Worldwide Fund price available from the Irish Stock Exchange.HWF Current Market Background
The TMT sector is now globally very large, and technology is mission critical for businesses and governments alike. Penetration of mobile telephones and networked personal computers has risen dramatically. Does the sector still have attractions?
1) The sector generally has little debt, and many substantial companies have significant cash balances. This proved a drag on the sector in relative terms, when there was a credit boom, but has provided resilience in the downturn, and offers the potential for earnings enhancing acquisitions, at prices reasonable for the sellers, while cash yields so little. Furthermore, products and services are not generally acquired with debt as in sectors such as property and cars.
2) There is a significant amount of non discretionary recurring expenditure – maintenance, data centres, security such as unified threat management, rental and hosted software models, domain names, etc. Companies with recurring models may not offer the highest growth rates, but should command a premium for certainty.
We continue to be excited about our sector.
The minimum initial investment in Herald Worldwide Fund is £10,000 and any subsequent investment must be for a minimum of £5,000. Before applying to make an investment in HWF you must download and read the latest prospectus and the latest factsheet for the fund and the relevant Key Investor Information Document (KIID) for the class of shares of in which you wish to invest. If after reading these documents you are in any doubt as to the suitability of HWF as an investment you should consult an independent financial adviser. Remember that the value of an investment in HWF can fall as well as rise, and that you may get back less than you invested when you redeem your shares.
Click on the following links to download a copy of the documents you need:
The Herald Worldwide Fund is an open-ended investment company (OEIC). Shares are traded on the Irish Stock Exchange every Thursday (the Dealing Day) which is a business day, or the next succeeding dealing day if the foregoing is not a business day. The Fund is valued once a week on each Dealing Day by reference to the latest available prices for the investments it holds quoted on the immediately preceding business day. Applications for share purchases/sales should be submitted to the administrator, Northern Trust International Fund Administration Services (Ireland ) Limited, by 17:00 (Irish time) on Wednesday (or on the business day preceding the Dealing Day).
Adrian Waters (Chairman) (Irish)
Adrian is a resident in Ireland and is a fellow of The Institute of Chartered Accountants in Ireland. He is the principal of Fund Governance Solutions, an independent funds consultancy. He has over 20 years’ experience in the offshore funds industry. From 1993 to 2001, he held various executive positions within The BISYS Group, Inc. (now part of the Citi Group), including chief executive officer of BISYS Fund Services (Ireland) Limited and finally as Senior Vice President – Europe for BISYS Investment Services out of London. From 1989 to 1993, he was employed by the Investment Services Group of PricewaterhouseCoopers in New York and prior to that by Oliver Freaney and Company, Chartered Accountants, in Dublin. He is an independent director of several other offshore funds.
David Boyle (British)
David worked for Morgan Grenfell from 1965 to 1982 in a number of capacities including corporate finance and, from 1977, asset management. In 1982 he joined the investment management subsidiary of Rowe & Pitman and, following that firm’s merger with Mercury Securities in 1986, became a director of Mercury Asset Management plc. He retired in 1997 and is currently a director of and shareholder in the parent company of the Investment Manager and other investment companies, a pro-chancellor of Essex University, deputy chairman of Essex Community Foundation, and holds other voluntary sector posts.
William Backhouse (British)
William qualified as a chartered accountant. He joined the corporate finance department of Barings in 1970 and from 1984 until he retired in 1993, he was a director of Baring Asset Management. He is chairman of Thames River Multi Hedge PCC . Mr Backhouse is a shareholder in the parent company of the Investment Manager.
Michael Boyce (Irish)
Michael is a resident in Ireland and acts as an independent director and a consultant to a number of Irish collective investment schemes. Prior to this, he was an executive director of Northern Trust Investor Services (Ireland) from 1990. He has worked in the financial services industry for over 30 years including stockbroking, investment management and fund administration. He holds a Diploma in Corporate Governance from the Michael Smurfit School of Business at University College Dublin. He is a member of the Chartered Institute for Securities and Investment, the Institute of Directors Ireland, as well as the Corporate Governance Association of Ireland.
BOARD OF DIRECTORS
Adrian Waters, Chairman (Irish)
William Backhouse LVO (British)
David Boyle DL (British)
Michael Boyce (Irish)
Dublin 2, Ireland
20 Cursitor Street
London, EC4A 1LT, England
76 Baggot Street Lower
Herald Investment Management Ltd
10-11 Charterhouse Square
London EC1M 6EE
One Spencer Dock
North Wall Quay
ADMINISTRATOR AND REGISTRAR
Northern Trust International Fund Administration Services (Ireland) Ltd
New Century House
International Financial Services Centre
Mayor Street Lower
76 Baggot Street Lower
Northern Trust Fiduciary Services (Ireland) Ltd
54-62 Townsend Street
70 Sir John Rogerson’s Quay
The Class A shares and the Class B shares of Herald Worldwide Fund PLC, which have both been accepted as ‘reporting funds’ under the UK’s offshore funds tax regime with effect from 1st January 2011, are required to make a report annually to UK investors. These reports are published below for the convenience of UK investors, who should consult their accountant or other tax adviser if they are in any doubt as to what action they should take in respect of them.
2015 Report to UK Investors
2014 Report to UK Investors
2013 Report to UK Investors
2012 Report to UK Investors
2011 Report to UK Investors