European Equities Fund
Add to bookmarked fundsWe recently met the CEO of Irish hotel group Dalata, the largest holding in our fund. The group leads the Irish market, and is particularly present in Dublin with market share of 20%. Revenue per room (REVPAR) has been on a very sound trend in 2017 in both the capital (+11%) and outside (+9%) and all lights are on go for 2018 and probably beyond. Demand is particularly strong from large corporates (Apple, Google, etc.) as well as banks that are beginning to relocate their teams from London to Dublin ahead of Brexit. At the same time, tourist demand is also robust. Growth in hotel capacity...
Carl Auffret - Yingying WuText completed on October 02, 2017
NAV
123.21€
Risk indicator
Year-to-date performance
Risks incurred : Liquidity risk, Credit risk, Risk relating to discretionary management, Equity risk, Foreign-exchange risk
Annualized performance
since inception
Performance
2016
-
Volatility over 1 year
Recommended minimum investment horizon
Net assets
(At 2017-09-29)
Inception date
Carl Auffret is a CFA charterholder and also holds a master’s degree in Management and a postgraduate degree in Banking and Finance from Paris IX Dauphine University.
In 1999, he began his career at SG Securities in London as a sell-side analyst covering the consumer goods sector. In July 2003, he returned to France to become sector fund manager/analyst at CM-CIC Asset Management before taking over the Union Europe Growth pan-European growth equity fund in 2005.
He joined the DNCA Finance management team in May 2012.
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.
For legal reasons, we can not post the performance of the sub-fund
The Sub-Fund will invest at all time at least 90% of its total assets in equities of issuers listed on North European stock exchanges (Britain, Ireland, Benelux, Norway, Sweden, Finland, Denmark, Germany, Swiss, Austria) in all market capitalisation or exercising the preponderant part of their economic activities in North Europe. The selection process carried out by the Investment Manager is based on picking stocks according to their intrinsic worth (an in-depth analysis of fundamentals is conducted in-house) as opposed to a mere replication of the composition of the benchmark index. It is a conviction fund intended to be concentrated on a small number of issuers, between 30 and 60. Investments may therefore be concentrated on a limited number of stocks.
The Sub-Fund seeks to outperform of the following composite net return index denominated in Euro: 40% MSCI Nordic, 35% DAX, 15% SMI, 10% MSCI UK TR UK Net Local Currency calculated with dividends net of withholding taxes reinvested, over the recommended investment term.
The Sub-Fund may at any time invest in:
-Equities of issuers having their registered office in the North Europe: from 80% to 100% of its net assets;
-Equities outside the North Europe: from 0% to 10% of its net assets;
-Equities with total market capitalisation below 200 million EUR up to 10% of its net assets;
- Fixed income securities and money market instruments or deposits if market conditions are unfavourable: from 0% to 10% of its net assets;
- Other financial instruments up to 10% of its net assets
All investors, in particular investors looking for a Northern European equity market exposure.
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 Indice Composite Norden
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.
