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Fondo Azionario Euro

  • OBIETTIVI DI INVESTIMENTO

    Diversificare tra diverse classi di azioni sta diventando sempre più importante. Con tassi di interesse ai minimi ed investitori sempre alla ricerca di rendimenti, le azioni stanno diventando sempre più allettanti. L’Euro Equity Fund mira a conseguire un maggiore livello di rendimento per gli investitori, investendo principalmente in un portafoglio diversificato di azioni blue-chip (ad esempio titoli azionari). L’Euro Equity Fund investe in società Blue Chip trattate sui principali mercati europei. Le società Blue Chip sono note per essere in grado di sopportare meglio momenti di recessione ed operare in profitto anche in condizioni economiche negative. Ciò ha permesso loro di costruire un’ottima reputazione in termini di esperienza e crescita stabile ed affidabile.

    STRUTTURA

    Il Fondo è amministrato secondo la struttura dell’OICVM, che è divenuta lo standard per i fondi di investimento nell’UE, per gli investitori al dettaglio. I fondi OICVM sono ideali per gli investitori al dettaglio, poichè sono stati progettati appositamente per garantire diversificazione e liquidità attraverso specifici parametri, imponendo classi di attività e restrizioni agli investimenti secondo quanto stabilito dal diritto comunitario.

    GESTIONE

    I fondi sono amministrati da un gruppo di investitori professionale presso Calamatta Cuschieri Investment Management Ltd, i quali controllano quotidianamente i loro sviluppi.

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Panoramica

→ Profilo dell'investitore
→ Valute
→ Integrazioni
→ Monitoraggio e Prezzo
→ Commissioni di Ingresso e Uscita
→ Investimento minimo
→ Regolamento del Fondo in Sintesi
→ Obiettivo sul Dividendo
→ Altre Informazioni

Commento

July 2019 Commentary

For much of this year, equity markets have enjoyed a healthy climb, assisted by a dovish tilt from central banks, as well as the possibility of a trade deal between the US and China. The mixed sentiment during July, led the stock market’s performance to remain flat month on month whereas year to date, the SX5E is up 19.91%.

Markets saw a mixed sentiment throughout the whole of July; uncertainties revolving around the Fed’s decision to cut rates along with ECB’s Mario Draghi hinting at easing were the stars of the month. Needless to say, investors were seen to take a cautious approach during the month after the rally of June. By the end of July, the Fed cut rates by 25bps and Mario Draghi left rates unchanged after markets had already priced in stimulus as at end July.

Specifically in the Eurozone area, Greece’s election proved to be a positive for the country as the New Democracy party rose to power; the party has promised tax cuts financed by spending cuts in attempt to support growth. On another note, Italy has continued to avoid censure from Brussels over the size of its deficit In contrast, Brexit remains a major problem for Europe given the new Prime Minister, Boris Johnson’s target to leave the EU by end October with or without a deal.

On a more general note, the ECB kept rates on hold with the main refinancing rate remaining at 0% and the deposit rate at -0.4 percent, but changed its forward guidance to say that it expects rates to remain the same or at lower levels at least through the first half of 2020. The bank has also pointed that is already making preparations for more quantitative easing. Since markets had already reacted positively to Draghi hinting to a July rate cut which led to a decrease in negative yields, yields made a U-turn after the ECB suggested otherwise. Indeed, we saw the 10-year Bund tumbling to even lower negative levels of circa 0.44 percent from the positive 0.2 percent levels in January and the negative 0.20 percent mid-month.

There were limited developments on the Trade War front apart from a meeting at end of July where it was agreed that talks would resume in September. That being said, macroeconomic data in the U.S improved whereas China’s deteriorated. Due to this, the People’s Bank of China (PBOC) has finally started to ease monetary policy conditions for consumers and businesses. In order to maintain growth following the U.S tariffs, the PBOC produced a coordinated response in the form of liquidity stimulus and fiscal measures. To underline its easing bias, the PBOC provided another 100bps cut to its reserve requirement ratio, injecting further liquidity.

The Investment Manager (IM) remains of the opinion that names held in the fund have further to gain as we are in earnings season. Nonetheless, investors should remain cautious due to the uncertainties from the Trade War. The IM has built positions in high conviction names and further aims to benefit the portfolio by adapting to the market scenario. With this in mind, the IM is confident that the stocks in the portfolio should generate alpha for the fund and boost performance.

Scheda

  • NAV/Prezzo: Clicca qui per Prezzi aggiornati

    Nome del Comparto Euro Equity Fund
    Investment Manager Calamatta Cuschieri Investment Management Ltd
    Conculente del Fondo n/a
    Depositario Sparkasse Bank Malta p.l.c.
    Amministratore del Fondo CC Fund Services (Malta) Limited.
    Revisori Deloitte Malta
    Consulente Legale Ganado & Associates
    Data di Lancio 1st November 2013
    Sede Malta
    Valuta Euro (€)
    Frequenza Negoziazioni Daily
    Dimensione Fondo €7.2 M
    Numero di Titoli 24
    Commissione Iniziale up to 2.5%
    Tassa di Gestione 1.35%
    Data pagamento Dividendo N/A
    Numero ISIN EUR – MT7000009031
    Minimum Initial Investment € 2,500
    Minimum Additional Investment € 500

    Country Exposure*

    Country %
    Germany 39.1
    France 33.0
    Malta 14.3
    United States 6.5
    Netherlands 4.6

    *including exposures to ETFs

    Top Equities

    Equity %
    Allianz SE 5.1
    Renault SA 5.0
    BMIT Technologies plc 4.9
    Deutsche Post 4.8
    L’Oreal 4.8

     

    Top ETFs

    ETF %
    Lyxor ETF Eurostoxx 600 H-care 6.9
    iShares Eur600 Oil&Gas 6.0
    iShares Eur600 BasicResources 4.4
    Lyxor ETF Eurostoxx 600 Tech 4.0
    Lyxor DAX ETF 3.3

     

  • Performance ad Oggi (EUR)

    Performance History

    Calendar Year Performance YTD 2018 2017 2016 Since
    Inception*
    Total Return 17.63 -18.36 10.39 -0.93  13.55
    Calendar Year Performance 1-month 3-month 6-month 9-month 12-month
    Total Return -0.26 -1.18 10.07 6.88 -3.58

    * The Euro Equity Fund was launched on 31 October 2013.

    Currency Allocation

    Currency %
    EUR 91.0
    USD 9.0
    GBP 0.0

    Asset Allocation

    Asset %
    Cash 9.4
    Equities 90.6

    Sector Breakdown

    Sector %
    ETFs 24.7
    Financial 17.5
    Consumer, Non-Cyclical 12.5
    Consumer, Cyclical 11.9
    Technology 9.5
    Industrial 9.2
    Communications 4.1
    Energy 1.3

     

Informazioni Legali

* The Fund achieved a performance increase of 10.92% during the period 1st November 2013- 31st October 2015 (Source: Calamatta Cuschieri Fund Services). Calamatta Cuschieri Investment Services (CCIS) is a founding member of the Malta stock exchange and is licensed to conduct Investment Services in Malta by the Malta Financial Services Authority. The CC Euro Equity Fund is a sub fund of  CCFunds Sicav plc and is authorised by the MFSA. Performance figures quoted refer to the past and are not a guarantee for future performance. The value of the investment may rise as well as fall. Investors may incur a subscription charge and may be subject to tax on distributions. Investment should be based on the CCFunds Sicav plc prospectus and KIID document, which may be obtained from CCIS offices. Issued by CCIS. 
 
This document is prepared for information purposes only and should not be interpreted as investment advice. This document does not constitute an offer or invitation by CCIS to any person to buy or sell any investment. CCIS has based this document on information obtained from sources it believes to be reliable but which have not been independently verified. This document may not be reproduced either in whole, or in part, without the written permission of CCIS.
 
THIS IS NOT A CAPITAL GUARANTEED PRODUCT ACCORDINGLY THE VALUE OF YOUR INVESTMENT CAN GO DOWN AS WELL AS UP. INVESTORS SHOULD NOTE THAT THE PAYMENT OF DIVIDENDS HAS THE EFFECT OF REDUCING THE NAV PER SHARE.