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World Focus Equity
Why own global value equities today
Owning Global Value equities today serves as a vital portfolio hedge against high market concentration and valuations, particularly in the U.S. and within pockets of the Information Technology ecosystem. Adding a Global Value option within a total portfolio structure that is likely heavily geared towards a common index such as the MSCI World can improve portfolio resilience and long-term return potential. Notably, a well-balanced and attractively Global Value option should allow investors to:
Portfolio Specifications
- Bottom-up, fundamental approach leading to high-conviction, ‘best-ideas’ portfolio
- ~30 holdings diversified by sector and region
- Solid quality characteristics (low financial leverage, high returns) with lower valuation metrics versus index, plus strong dividend support
Benefits
- Consistent approach focused on identifying high-quality global opportunities trading at attractive valuations
- Differentiated portfolio in the context of a more Core/Growth-oriented peer group that aligns closer with the index
- Balanced regional and sector allocations with more diversified exposure and less effective concentration than most indices
- Potential for downside protection through dual Valuation/Quality buffer
Quality, Value, and Dividend Characteristics
5-year averages of Beutel Goodman World Focus Equity compared to the MSCI World Index
| BG World Focus | MSCI World Index | Relative | |
|---|---|---|---|
| Dividend Yield | 2.72% | 1.88% | 45% higher income stream |
| Forward P/E | 13.2x | 17.7x | 26% lower valuation versus future earnings |
| EV/EBITDA | 11.6x | 18.4x | 37% lower overall business valuation |
| P/Sales | 1.4x | 2.3x | 38% lower valuation versus revenues |
| FCF Yield | 6.6% | 4.1% | 62% higher cash returned per dollar invested |
| ND/EBITDA | 1.6x | 2.1x | 26% lower financial leverage |
| 5Y ROE | 26% | 23% | 16% higher returns |
Why World Focus, Why Now
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Portfolio Specifications – BG Global Mandates
| World Focus | Global Equity | Global Dividend | Global ADR | |
|---|---|---|---|---|
| Vehicle Availability | Mutual Fund Separate Acct |
Mutual Fund Separate Acct |
Mutual Fund Separate Acct |
Model Delivery Separate Acct |
| Mandate Inception | July 2005 | July 1995 | December 2007 | December 2006 |
| Mandate Constraints | Max 10% EM | Max 10% EM MXWO Sectors +10% U.S./non-U.S. 35-70% |
Max 10% EM | - MXWO Sectors +10% U.S./non-U.S. 30-70% |
| Reference Benchmark | Main benchmark: MSCI World Style-specific benchmark: MSCI World Value |
|||
| # Holdings | 32 | 41 | 28 | 28 |
| U.S. Weight | 61.9% | 57.2% | 25.5% | 42.0% |
| Active Share | 96.5% | 96.3% | 97.8% | 99.2% |
| Forward P/E | 14.2x | 14.5x | 12.7x | 12.1x |
| Dividend Yield | 2.3% | 2.4% | 3.8% | 3.3% |
| Annual Turnover (10Y) | 25.4% | 28.5% | 24.3% | 38.4% |
The index information contained in this document has been obtained from sources believed to be reliable, but we do not represent that it is accurate or complete and it should not be relied on as such.
Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.
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Note: This recording represents the views of the participants, as at October 22, 2026. It is not intended, and should not be relied upon, to provide legal, financial, accounting, tax, investment or other advice. This is not an invitation to purchase or trade any securities. Beutel Goodman & Company does not endorse or recommend any referenced securities.
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