DNCA Evolutif

Profiled “Evolutionary” management

Portfolio managers comments
January 2017


Despite signs of reflation, there are still 10,000 billion dollars in sovereign and corporate bonds with negative yield worldwide. The quest for bond yield is forcing investors to turn towards issuers with higher debt loads on longer maturities.

In view of the fund’s diversified approach, we have leeway to focus on equities (68% of the portfolio at the end of January vs. 20% bonds) which display an attractive risk/return ratio.

European companies are currently enjoying the strongest upgrade to their earnings outlook since 2010, after six consecutive years of downgrades.

Growth in volumes is...

Xavier Delaye - Augustin Picquendar - Caroline Slama - Thomas PlanellText completed on February 01, 2017

At 2017-02-20

NAV

119.23€

Risk indicator

Year-to-date performance

+0.85%

5-year annualized performance

+6.4%
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Performance 

2016

+1.9%

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Volatility over 1 year

11.14%

Recommended minimum investment horizon

5 Years

Net assets
(At 2017-01-31)

781M€

Inception date

2000-10-16
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

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Xavier Delaye

Xavier Delaye is a qualified member of the French financial analysts’ association (SFAF).

He began his career at Schelcher Prince. In 1986, he joined Oddo & Cie as an institutional fund manager. In 1996, Xavier joined Richelieu Finance where he became CIO.

In 2000, he co-founded DNCA Finance with Joseph Châtel and Charles Nouailhetas and became an associate partner.

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Augustin Picquendar

Augustin Picquendar is a graduate of ESSCA Angers, holds a postgraduate degree in Banking and Finance and is also a qualified member of the French financial analysts’ association (SFAF) and a qualified CIIA (issued by SFAF).

After an initial professional experience at BNP Paribas, he joined DNCA Finance in January 2008 as assistant manager before becoming co-manager of DNCA Evolutif and DNCA Evolutif PEA.

Caroline slama

Caroline Slama

Caroline Slama graduated from Paris IX Dauphine and is holder of a postgraduate specialist master's degree in Banking and Finance and is also a qualified member of the French financial analysts’ association (SFAF) and a qualified CIIA (issued by SFAF).

Caroline has 15 years of experience including 7 years at Carmignac Gestion on global equities and fixed income and 6 years as a sell-side analyst (team ranked 3rd on Extel Europe in 2005 and 2006).

She joined DNCA Finance in September 2016 as co-PM of DNCA Invest Evolutif and DNCA Evolutif PEA.

Thomas planell img7915

Thomas Planell

Thomas Planell holds a Master’s degree in Finance from the INSEEC Business School (France).

He joined DNCA Finance in November 2013 as part of the DNCA Evolutif and DNCA Evolutif PEA fund management team, having gained previous experience at various financial institutions in asset management, selling derivatives and consulting.

Performances

Fund evolution
Annualised performances
PerfAt 2017-02-20
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YTD

DNCA Evolutif+0.85%
Composite Index DNCA Evolutif NR (2)+0.47%
Simulator
(1) Data are calculated from 2000-10-16 (date of the management guidance change)
(2) Indice composite (60% Eurostoxx 50 NR, 30% FTSE MTS EMU GOV BOND 1-3 years, 10% EONIA capitalisé, calculé dividendes et coupons réinvestis)

Briefly

The profile of this diversified fund evolves according to our expectations, between balanced and dynamic. It is managed in a discretionary fashion depending on the convictions of the managers regarding both asset allocation and selection of securities.

What objective?

Capital appreciation with optimisation of the performance / risk pair. Control volatility.

What breakdown?

Equities: 30–100%
Bonds/Money-market instruments: 0–70%

For what type of investor?

For the investor who is unsure between a balanced and dynamic profile and who wants to take part in bull markets for equities, while trying to protect himself in difficult periods.

Which characteristics?

Pricing : Daily
Fund Legal Type : FCP
Country Of Domicile : FR
Min Subscription Amount :
Min Subscription Shares :
Subscription Fees : 3% max

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.