DNCA Opportunites Zone Euro

Eurozone countries equity funds

Add to bookmarked funds

Portfolio managers comments
February 2017


The US and emerging markets are soaring, while European indices are recovering slowly. Earnings reports for companies in the Eurozone were positive overall, and confirm earnings projections for 2017. After tension over recent months, bond yields are falling again, despite the increase in inflation statistics. Investors are still obsessed with European political risks, particularly concerns over a surge in populist sentiment at the forthcoming French elections.

DNCA EUROCOVERY underperformed in February, with a gain of +0.87% vs. +2.61% for its benchmark, the EURO STOXX NR. This...

Jean-Charles Mériaux - Adrien Le ClaincheText completed on March 01, 2017

At 2017-08-22

NAV

125.41€

Risk indicator

Year-to-date performance

+11,15%

Annualized performance
since inception

+8,8%
Right arrow
Left arrow

Performance 

2016

-3,11%

Right arrow
Left arrow

Volatility over 1 year

19,18%

Recommended minimum investment horizon

5 Years

Net assets
(At 2017-07-31)

88M€

Inception date

2014-12-15
Past performance is not an indicator of future performance
Management fees are included in performance. The performances are calculated net of any fees by DNCA FINANCE.
This is not a capital guarantee fund

Fund Managers

Jean charles meriaux img6755

Jean-Charles Mériaux

Jean-Charles Mériaux is a graduate of HEC Paris School of Management.

After starting his career at Crédit Foncier de France, he joined Oddo & Cie in 1987. In 1994, he joined LCF Edmond Rothschild Asset Management, where he became a member of the Executive Board and Head of French and European Equities Management. He launched and managed funds Tricolore Rendement and Saint-Honoré Convertibles.

He joined DNCA in October 2002 as managing partner and portfolio manager of Eurose and Centifolia. In October 2005 he became Chief Investment Officer of DNCA.

Alc

Adrien Le Clainche

Adrien Le Clainche holds a master's degree in Financial Management from Paris X Nanterre University.

He began his career in 2006 with various asset management experiences in the banking groups Candriam, Credit Suisse and Rothschild & Co.

In October 2010, he joined DNCA Finance as a management assistant in the bond and diversified team. He became manager-analyst in 2014 and extended his skills to French and European equities.

Performances

Fund evolution

* From the fund’s creation until July 28th, 2017, its performances have been carried out on the basis of a management strategy which has been modified/a modified management strategy.

Annualised performances

Inception date : 2014-12-15

PerfAt 2017-08-18
Right arrow
Left arrow

YTD

DNCA Opportunites Zone Euro+11,14%
Euro Stoxx NR+9.11%
Simulator
(1) The inception date of the Fund is 2014-12-15

Briefly

Through a so-called “opportunistic” investing strategy, the fund searches for and selects Eurozone societies without considering any geographical or sectorial strain. Hence the combination of several management styles: “Value” (societies considered as under-valuated and shunned by investors), “Growth” (societies regarded by the manager as expanding and driven by new markets) or “Quality” (mature societies that are, according to the manager, known for their strong business-model).

What objective?

The fund is aimed to achieve a performance greater than the reference index, the Euro Stoxx Net Return (net dividends reinvested) on the recommended investment period.

What breakdown?

- At least, 60% in shares issued in one or several countries of the eurozone, of any market capitalisation where the selection is based on the fundamental analysis led by the managers. The sectors repartition may change anytime according to the manager’s anticipation.
- Until 10% of the net asset in firm stocks outside of the eurozone.
- Until 20% of the net asset in small capitalization firm stocks, which means capitalisation lower than 1 billion euros.
- Until 40% of the net asset in sovereign rates tools, of the public and private sectors, of any rating or not rated, with 20% maximum of the net asset in rate tools in the category “Speculative Grade”, which is a rating lower than A-3 for short term or BBB-for long term according to the Standars & Poor’s scale for instance or juged equivalent by the company. The management company doesn’t systematically use ratings done by rating agencies in order to base his management decisions and use its own analysis.
- Until 25% in equities including financial derivatives (example: convertible bonds) negociated on french and foreign regulated markets or by mutual agreement to realize his management goal with a purpose of exposure of the portfolio against a downside risk of the market stocks.

For what type of investor?

All subscribers, and mostly those willing to benefit from DNCA Finance expertise on Eurozone values whose market price does not reflects the manager’s opinion and analysis.

Which characteristics?

Pricing : Daily
Fund Legal Type : FCP
Country Of Domicile : FR
Min Subscription Amount :
Min Subscription Shares :
Subscription Fees : 3% max
Performance fee : 20% of the positive performance net of any fees above Euro Stoxx NR

What taxation?

This fund is eligible for French PEA personal equity plans. Please consult your usual financial advisor for further information.

Highlights

Legal information

The above information is not a confirmation of any transaction and does not comprise investment advice. Past performances are not a reliable indicator of future performances. Management fees are included in performances. Access to products and services presented may be restricted regarding certain persons or countries. Tax treatment depends on the individual situation of each investor. For full information regarding strategies and fees, please refer to the prospectus, KIID documents and other regulatory information available on this website or free of charge on demand from the investment management company’s registered offices.