DNCA Invest
Beyond Alterosa

Multi-Asset Fund SRI

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At 2019-05-17

NAV

105.38€

Risk indicator

Year-to-date performance

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Annualized performance
since inception

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Performance 

2018

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Volatility over 1 year

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Recommended minimum investment horizon

Net assets
(At 2019-04-30)

53M€

Inception date

2018-12-17
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

Léa Dunand-Chatellet

Léa Dunand-Chatellet, is a graduate of the École Normale Supérieure (ENS), with an agregation in economy and management (university highest-level competitive examination for teachers’ recruitment), and is also a member of various committees on the Paris financial market. She teaches courses on responsible investment in some of France’s major business schools on a yearly basis and co-authored a key publication in 2014 “SRI and Responsible Investment” (published by Ellipse, available in French only).

Léa started her career in 2005 at Oddo Securities’ extra-financial research department, then became portfolio manager and Head of ESG research at Sycomore Asset Management in 2010. She spent five years at the company, setting up and managing a range of SRI funds with AUM of €700m, achieving a top AAA ranking from Citywire. Working within the investment management industry, she developed a pioneering extra-financial model that includes sustainable development issues in the fund management approach. In 2015, she joined Mirova as Equity CIO, managing a team of ten equity portfolio managers, with AUM of €3.5bn.

Léa Dunand-Chatellet was appointed Head of the Responsible Investment department at DNCA Finance in June 2018.

Adrien Le Clainche

Adrien Le Clainche holds a master's degree in Financial Management from Paris X Nanterre University.

He began his career in 2006 with various asset management experiences in the banking groups Candriam, Credit Suisse and Rothschild & Co.

In October 2010, he joined DNCA Finance as a management assistant in the bond and diversified team. He became manager-analyst in 2014 and extended his skills to French and European equities.

Baptiste Planchard

Baptiste Planchard, CFA, is a graduate of business school ESC Reims and holds a degree in History.

Following an initial role in Sales trading at Oddo & Cie in 2013, he joined DNCA Finance in July 2014 and is involved in both the bond and diversified fund management teams.

Damien Lanternier

Damien Lanternier, is a CFA charterholder and also holds a Master’s degrees from HEC.

He began his career in 2002 at BNP Paribas Corporate Finance as an M&A analyst. In 2003 Damien joined Lazard Frères Asset Management as a buy-side analyst. He then joined La Financière de l’Echiquier in 2004 as a European equity analyst. He became manager of Agressor, a €1.7 bn European equity portfolio, flagship of the asset management company.

In October 2017, Damien joined DNCA Finance. He will manage DNCA’s European equity portfolio, Opportunités Zone euro. He will also co-manage Centifolia with Jean-Charles Mériaux as well as the equity segment of Eurose.

Romain Grandis

Romain Grandis, CFA charterholder, holds a degree in civil engineering from the Ecole des Mines and an Actuarial qualification from the ISFA financial science and insurance institute in Lyon.

He began his career at CIC Lyonnaise de Banque in 2004, and in 2005 joined MMA Finance, part of the Covéa group, as a fund manager and quantitative analyst on European equities. In 2010, he joined Covéa Finance, using his quantitative analysis skills across all asset classes. In 2011, Covéa Finance appointed him to manage insurance mandates for the group’s various entities.

Romain joined DNCA Finance in May 2016 as co-fund manager in both the bond and diversified fund management teams.

Performances

For legal reasons, we can not post the performance of the sub-fund

Briefly

The Sub-Fund is managed taking into consideration Responsible and Sustainable principles. In this way, the investment process and resulting stock and bond picking take into account internal scoring with respect to both corporate responsibility and sustainability of the companies.
Corporate Responsibility is astounding information’s pool used to anticipate companies’ risk especially looking at the interplay with their stakeholders: employees, supply chains, clients, local communities, and shareholders…, regardless of the sector of activities.
Besides, the Investment Manager’s conviction is to finance the economy based on a long term perspective which results in the identification of sustainability related thematics.

The extra-financial analysis model used by the Investment Manager for the Sub-Fund is a proprietary tool based on the following:
- Corporate responsibility rating,
- Sustainable transition exposure,
- Controversies analysis,
- Companies’ meeting and newsflow recordings.

The research and the ratings are made internally by the Investment Manager thanks to corporate disclosures and statement which represent the majority of the used information.
The Sub-Fund applies a proprietary tool developed internally by the Investment Manager to make investment decisions. The risk exists that the models used to make these investment decisions do not perform the tasks they were designed to.
The use of the proprietary tool relies on the experience, relationships and expertise of the Investment Manager’s personnel.

Due to the Responsible Investment strategy, the Sub-Fund strictly excludes the following activities:
- Tobacco production,
- Weapons production over than 10% of revenues,
- Coal production over than 10% of revenues,
- Coal in power generation over than 30% of revenues,
- Unconventional oil and gas production over than 10% of revenues,
- Conventional oil and gas production over than 10% of revenues.

The overall investment strategy of the Sub-Fund is to seek to enhance the return on a wealth investment. Through active management of a portfolio of Euro denominated equities and fixed income products, it aims to provide an alternative to investments in bonds and convertible bonds (directly or through mutual funds) as well as an alternative to Euro denominated funds. The Sub-Fund does not benefit from a guarantee on capital invested.

What objective?

The Sub-Fund seeks to outperform the 30% EUROSTOXX 50 (Bloomberg ticker: SX5T Index) + 70% FTSE MTS Global (Bloomberg ticker: EMTXGRT Index) composite index, calculated with dividends reinvested, over the recommended investment period.

What breakdown?

The Sub-Fund may invest at any time within the following limits in:

- Up to 100% of its net assets may be exposed to fixed income securities denominated in Euro, composed of securities issued by public or private sector-issuers, without any rating constraint including non-rated issues.
- Up to 50% of its net assets may be composed of fixed income securities belonging to the “speculative grade” (i.e. which have ratings below a Standard & Poor’s minimum A-3 short term rating or BBB- long-term rating or equivalent with a minimum of CCC) or non-rated.
- Up to 5% of its net assets may be invested in securities which may qualify as distressed securities (i.e. which have a Standard & Poor’s notation below CCC long-term rating or equivalent).
- The Sub-Fund may invest up to 15% of its net assets in assets backed securities (ABS) and mortgage backed securities (MBS) which shall consist of securities that are rated at least B- by Standard & Poor’s for example or that are considered of a comparable credit quality by the Investment Manager.

The Investment Manager shall not solely base its investment decisions on the ratings assigned by independent rating agencies, but shall also proceed to its own credit risk assessment.

In all cases, the Sub-Fund will not invest in securities which may qualify as “in default” at the time of the investment or during their lifetime in the portfolio. Fixed income securities which may be downgraded during their lifetime will be disposed of as soon as possible with due regards to the interest of shareholders.

- Up to 50% of its net assets in equities or equivalent from issuers belonging to all market capitalisation categories, headquartered in OECD countries and denominated in Euro.
- Investment in equities or equivalent issued by issuers which capitalisation is under 200 million Euros may not exceed 5% of the net asset of the Sub-Fund.

The modified duration of the Sub-Fund’s portfolio will be limited to 7 years.

- Up to 10% of its net assets in securities outside of OECD countries.
- Up to 10% of its net assets in securities denominated in other currency than Euro.

The exchange risk will not exceed 10% of the net asset of the Sub-Fund.

Which characteristics?

Pricing : Daily
Fund Legal Type : SICAV mutual fund governed by Luxembourg law
Country Of Domicile : LU
Min Subscription Amount :
200000€ (Share I)
Nil (Share N)
2500€ (Share A)
50000000€ (Share SI)
Min Subscription Shares :
None (Share I, Share N, Share A, Share SI)
Subscription Fees : 1% max

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.