“My father used to say: ‘Don’t raise your voice, improve your argument.’” – Desmond Tutu
It was good month – both on an absolute and relative basis, with the fund outperforming its index of reference despite a very high cash level.
Despite the sometimes Kafkaesque comments by the new American President and his merry band of followers at the White House – or maybe in spite of them – the global markets continued on a seemingly inexorable rise. Are the valuations cheap? Certainly not! However economic figures globally have been positively biased recently...and in particular in emerging markets...
5-year annualized performance
Recommended minimum investment horizon
Rajesh Varma is a graduate of the University of Michigan (BSE 1986 and MBA 1988).
He began his career at Fidelity in Hong Kong as an analyst covering Asian markets. Between 1991 and 1993 he worked in a hedge fund in Hong-Kong (Arral Associates - the first Asian hedge fund) covering Asia and technology. In 1993, he set up an Asia hedge fund at KI Pacific AM based in London. In 1997, he joined Montgomery AM in San Francisco as fund manager specialising in several global sectors. At the end of 2000, he moved to Paris, where he worked for two years at Eurazeo. Rajesh joined Carmignac Gestion in December 2002 where he managed global funds focusing on new technologies, healthcare and renewable energies, participating in Asian stock-picking for the whole range of funds.
He joined the DNCA Finance management team in September 2010.
Yingying Wu is a graduate of HEC in 2010 and is a CFA charterholder and also holds a master’s degree in Journalism from The Communication University of China in Beijing (2005).
She began her career in the European equities department of BNP Paribas Asset Management in Paris where she co-managed global discretionary funds and an emerging Asia fund.
She joined the DNCA Finance growth team in April 2015.
|DNCA Invest Global Leaders||+6.15%||-1.1%||+5.87%||+4.27%||+13.86%||+0.17%||+64.87%||+72.54%||+0.41%|
|MSCI All Countries World Index (EUR) NR||+3.83%||-2.02%||+2.89%||+10.98%||+19.42%||+7.68%||+82.79%||+101.23%||+11.09%|
The fund seeks to invest in companies that are global leaders, irrespective of geographic location, that have high barriers to entry, and that benefit from secular – rather than cyclical growth. These companies must also have fiscally conservative balance sheets, with a rapidly changing global economic order.
The fund aims to outperform the MSCI All Countries World Index (MSCI ACWI Index) over the recommended investment timeframe of five years.
Stocks or related derivative financial instruments (such as CFD or DPS): 60% to 100% of net assets
Debt securities: up to 40% of net assets
In the event of market downturns, the fund can invest up to 100% of its net assets in money market instruments.
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 and in particular investors who are seeking an opportunity-driven fund management style and are willing to accept exposure to market risk as part of the discretionary asset allocation management strategy, while also holding their positions over a long investment timeframe.
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 : 10% of the positive performance net of any fees above MSCI All Countries World Index (EUR) NR
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.