Highlights

  • XALG actively selects global companies using valuation and Earnings research.
  • Its Investment universe comprises shares listed on global stock exchanges.
  • The MSCI World Net Return index in AUD is the listed reference benchmark.
  • Management fees and costs were listed at 0.75%.

Alphinity Global Equity Fund Active ETF (ASX:XALG) invests in global companies selected through an active research process. Alphinity seeks businesses it considers high quality, undervalued and within an earnings upgrade cycle. At the time of writing on 6 November 2026, XALG was trading at AUD 10.25. The mandate provides international equity exposure through manager decisions about individual companies, rather than a requirement to hold every constituent of a market index.

Company research determines the portfolio

The investment universe comprises companies listed on global stock exchanges. Selection combines an assessment of Business quality with the manager’s view of valuation and company earnings. An earnings upgrade cycle describes the type of opportunity the manager seeks; it does not establish that every holding will deliver improving results.

The process creates exposure to companies the manager believes offer a favourable combination of these attributes. Portfolio composition can change as research views develop. Decisions about whether a business is undervalued depend on assumptions about future earnings and appropriate valuation, both of which can be revised as new information becomes available.

A global mandate with an active benchmark relationship

The listed reference benchmark is the MSCI World Net Return Index in Australian dollars. A benchmark provides context for the investment mandate, while an active portfolio can allocate differently across companies, sectors and countries. The fund’s exposure should therefore be understood through its actual investments and research approach.

International companies introduce several economic and currency influences. A company’s listing market alone does not reveal where it generates sales, incurs costs or owns assets. Changes in those markets can affect earnings expectations and valuations. Global equity exposure also remains subject to ordinary share market risk, including the possibility of Capital losses.

Costs distributions and the meaning of an active mandate

XALG’s listed management fees and costs relate to accessing the portfolio through the fund. The Market Price of an ETF unit and the value of its underlying investments are distinct measures and can differ during trading. A quoted last price also describes a transaction rather than the complete investment case.

The active process places importance on the manager’s company assessments and portfolio implementation. Identifying an earnings opportunity does not remove the risk that a business disappoints expectations or remains below the manager’s estimated value. Changes in company fundamentals can alter both the intended exposure and the reasons for retaining a position.

Management fees and costs were listed at 0.75%. A distribution of AUD 0.250 per unit had an ex-distribution date of 1 July 2026, a Record Date of 2 July 2026 and a payment date of 8 July 2026. Distribution amounts can change and do not represent a fixed payment commitment.

Key Insights

XALG provides global equity exposure shaped by company quality, valuation and earnings research. The distinguishing feature is the selection process. Its reference benchmark offers context, while the fund’s investments depend on the manager’s assessment of individual opportunities.