DNCA Invest
Evolutif

Flexible Diversified - UCITS Fund

Portfolio managers comments
December 2016


2016 ended with several weeks of stockmarket rally triggered by the election of Donald Trump. The US equity markets hit historical highs, while the Eurostoxx finished up rising 4.1% after starting off with a severe 20% collapse due to the decline in commodities prices, oil and the slowdown in growth in China. Against this backdrop of acute volatility, DNCA Invest Evolutif gained 3.00%, primarily driven by equities.

This “Trumpflation” also set off a significant rise in long-term interest rates and the dollar. The Bund moved out of negative territory to reach 0.2%, while the yield on the...

Xavier Delaye - Augustin Picquendar - Thomas PlanellText completed on January 02, 2017

At 2017-01-23

NAV

152.69€

Risk indicator

Year-to-date performance

+0.07%

5-year annualized performance

+7.81%
Right arrow
Left arrow

Performance 

2016

+3.0%

Right arrow
Left arrow

Volatility over 1 year

11.81%

Recommended minimum investment horizon

5 Years

Net assets
(At 2016-12-30)

543M€

Inception date

2007-12-13
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

Xde

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.

Api

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.

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 2017-01-23
Right arrow
Left arrow

YTD

DNCA Invest Evolutif+0.07%
Composite - DNCA Invest Evolutif NR (2)-0.34%
Simulator
(1) The inception date of the Fund is 2007-12-13
(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?

The fund aims to match the performance of the composite index consisting of 60% Eurostoxx 50, 30% FTSE MTS 1-3 years, 10% EONIA, calculated with dividends and coupons reinvested, over the recommended investment timeframe, while also safeguarding the capital during downturns as a result of an opportunity-driven asset management strategy.

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 : 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 Composite - DNCA Invest Evolutif NR with High Water Mark

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.