European Equities Specialised in Infrastructure - UCITS Fund
The economic situation in the Eurozone is now unquestionably improving. Corporates confirmed this during the 2016 earnings reporting season, which prompted slight upgrades to earnings projections. However, investors have still not revisited European assets, as they are probably waiting for the results of the French elections to buy European equities. In the US, the new administration’s policy and ability to act are raising doubts among investors. The US stockmarket looks increasingly hesitant about whether to continue its rally, pending implementation of Trump’s campaign trail promises....
Recommended minimum investment horizon
Igor de Maack graduated from HEC Paris School of Management and is a qualified member of the French financial analysts' association (SFAF) and also holds a postgraduate specialist diploma in International Taxation.
He began his career at Deloitte & Touche. In 1998, he joined the Project Financing department at BNP Paribas. In 2002, he moved to IXIS where he headed the group’s participation in the financing project for the A 28 motorway, then joined the equity research team at Ixis Securities and became senior Vice President of primary equity markets at Lazard-lxis.
He joined DNCA Finance in 2007 as an infrastructures portfolio manager.
Romain Avice is a graduate of EDC and holds a master's degree in Finance.
In July 2008, he joined DNCA Finance as an assistant management before becoming manager - analyst on Gallica in December 2012 and on DNCA PME in December 2014.
|DNCA Invest Infrastructures (Life)||+9.57%||+2.22%||+9.31%||+10.92%||+10.88%||+3.98%||+72.48%||+36.31%||+1.23%|
|MSCI Europe Infrastructure NET Index||+4.95%||+1.17%||+6.77%||+2.20%||+5.94%||+0.46%||+48.56%||-5.37%||+0.46%|
DNCA Invest Infrastructures (LIFE) will invest in listed European companies in the following businesses: toll roads, car parks, airports, diversified concessionaires, satellite network managers, public service managers (hospitals, prisons, etc.), electricity producers/distributors, gas producers/distributors, gas and electricity transport networks, water distribution network managers, waste collection and treatment and renewable energies. The fund, which is eligible for the french equity savings plan (PEA), will invest at least 75% of its net assets in European companies (EU-27). Up to 25% of its net assets may be invested in international equities.
The fund seeks to outperform the Macquarie Global Infrastructure Index Europe Local Total Return over the recommended investment timeframe.
European stocks or related derivative financial instruments (such as CFD or DPS): 75% to 100% of net assets,
Non-European stocks: up to 25% of net assets,
Debt securities: up to 25% of net assets
Units and/or shares in UCI funds: up to 10% of net assets
In securities denominated in any currency. However, exposure to a currency that is not a base currency can be hedged with a base currency in order to reduce forex risk. Futures and OTC contracts in particular can be used for this purpose.
The fund may invest in listed derivatives instruments or OTC derivatives products (other than CFD and DPS) equating to 40% of its net assets, including standardized futures contracts and non-complex options traded on the regulated markets in order to hedge or increase equity exposure, while not actively seeking overexposure.
All investors, in particular investors who wish to have an exposure to European market in infrastructure’s and utilities’ sector and who can retain this investment for the recommended investment period.
Pricing : Daily
Fund Legal Type : SICAV mutual fund governed by Luxembourg law
Country Of Domicile : LU
Min Subscription Amount :
Min Subscription Shares :
Subscription Fees : 3% max
Performance fee : 20% of the positive performance net of any fees above MSCI Europe Infrastructure NET Index with High Water Mark
This fund is eligible for French PEA personal equity plans. Please consult your usual financial advisor for further 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.