European 'Value' Equities
The markets saw a real rally in December, despite the resignation of Italian Prime Minister Renzi following his referendum defeat. Once this uncertainty was removed and a functioning government appointed, the markets were able to move forward and focus on the new economic world order: Trumponomics! While no bills can be passed before the inauguration on January 20, expectations of a liberalization of financial services, tax cuts and targeted protectionism have been broadly welcomed. Inflation and an expected normalization of monetary policy were enough to push indices into positive...
5-year annualized performance
Recommended minimum investment horizon
Isaac Chebar holds a chemical engineering degree from the Polytechnic school of the University of Sao Paolo in Brazil.
He began his career at Société Générale managing emerging market funds and funds investing in Southern Europe. In 2000, Isaac joined Tocqueville Finance where he set up and managed Tocqueville Value Europe until 2002. He then joined Aviva asset management as head of European investments managing several discretionary funds.
He joined the DNCA Finance management team in 2007.
Don Fitzgerald, CFA (Chartered Financial Analyst) graduated from Trinity College Dublin.
He began his career with Citigroup in 1996 firstly in Dublin then in Frankfurt and Paris. He joined WestLB Paris as an investor in distressed debt in 2003 and Tocqueville Finance in 2007. From 2008 to August 2015 he managed the fund Tocqueville Value Europe to first decile performance, by Quantalys, in its category over 1, 3 and 5 years. May 2015 he was awarded the Silver Prize by REVENU for risk adjusted returns in the European equities segment over 3 years. Trilingual, Don worked in Dublin, Paris , London and Frankfurt.
In September 2015, he joined DNCA Finance.
Maxime Genevois graduated from Toulouse Business School in 2015.
After several internship in financial analysis in DNCA Finance, Financière Arbevel and Rothschild & Cie Gestion, he joined the DNCA Finance management team in August 2015.
|DNCA Invest Value Europe||-0.07%||-0.04%||+6.9%||+10.26%||+9.63%||+9.68%||+78.86%||+76.59%||+1.86%|
|Stoxx Europe 600 NR||-0.08%||+0.34%||+5.17%||+6.86%||+9.86%||+2.98%||+62.11%||+51.82%||+1.73%|
At any given time, the fund invests at least two thirds of total assets in stocks of companies that have their head office in Europe or that conduct the majority of their business in Europe. The fund is based on an active discretionary asset management strategy using a stock-picking approach. This approach relies entirely on a fundamental analysis of the stocks on the basis of investment criteria such as market valuation, the company’s financial structure, the quality of the management team, the company’s market position, as well as regular contact with the company.
The fund seeks to outperform the Stoxx Europe 600 Net Return, over the recommended investment timeframe of five years.
European stocks or related derivative financial instruments (such as CFD or DPS): 75% to 100% of net assets
Non-European stocks: maximum 10% of net assets
Debt securities: maximum 25% of net assets
Units and/or shares in UCI funds: maximum 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.
For the investor who wants to invest in European equities while minimising risk in this asset class.
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 Stoxx Europe 600 NR 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.