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Euro Equity Fund


    Diversifying into alternative asset classes is becoming increasingly important. With interest rates at all-time lows and investors seeking returns, equities are looking more attractive.  The Euro Equity Fund aims to achieve a higher level of return for investors by investing, mainly, in a diversified portfolio of blue-chip equities (such as stocks and shares). The Euro equity fund invests in Blue Chip companies trading on major European markets. Blue Chip companies are known to weather downturns and operate profitably in the face of adverse economic conditions, which helps to contribute to their long record of stable and reliable growth.


    The Fund operates under the UCTIS structure which has become the gold standard for EU investment funds for retail investors. UCITS funds are ideal for retail investors as they have been specifically designed to ensure diversification and liquidity through distinct parameters, permitted asset classes and investment restrictions as set out in EU law.


    The Funds are managed by a group of investment professionals at Calamatta Cuschieri Investment Management Limited who monitor developments on a daily basis.


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February 2018 Commentary

After the peaks seen in January, February was a difficult month for global equity markets. The main European index fell 4.7% while the benchmark US equity index fell 3.9%. Core European investment regions were also negative with the German index suffering a decline of 5.7% and the French equity index losing 2.9%.

These declines were triggered as US hourly earnings annual growth came out at 2.9%, the biggest since June 2009, suggesting inflation is accelerating. The US 10year benchmark yield soon approached the critical 3% boundary. Volatility then took centre stage, with many observers questioning the upside potential of developed equity markets. Under these conditions, the Calamatta Cuschieri equity fund fell 2.6%, which compares well with the declines in the market.

It is worth bearing in mind that corrections are normal, but they rarely turn into bear markets unless there is a recession. We do not expect a recession in the US and much less in the core European region. As such, the pullback provides an opportunity because the shares are now cheaper. In addition, while share prices may have fallen, company profits remain optimistic, thus dividend yield is actually up. The investment managers intend to continue cautiously position funds in core allocations, as we remain confident of a European recovery.


  • NAV/Price: Click Here for latest price

    Sub-Fund Name Euro Equity Fund
    Investment Manager Calamatta Cuschieri Investment Management Ltd
    Fund Advisor n/a
    Custodian Sparkasse Bank Malta p.l.c.
    Fund Administrator Calamatta Cuschieri Fund Services Ltd.
    Auditors Deloitte Malta
    Legal Advisors Ganado & Associates
    Launch Date 1st November 2013
    Domicile Malta
    Currency Euro (€)
    Dealing Frequency Daily
    Fund Size €8.7 Million
    Number of Holdings 24
    Initial Charge up to 2.5%
    Management Fee 1.35%
    Dividend Payment Dates N/A
    ISIN numbers EUR – MT7000009031
    Minimum Initial Investment € 2,500
    Minimum Additional Investment € 500

    Performance History

    Calendar Year Performance YTD 2017 2016 2015 2014 Since
    Inception *
    Total Return 1.32 10.39 -0.93 5.37  1.27 19.80
     Calendar Year Performance 1-month 3-month 6-month 9-month 12-month
    Total Return -2.59 1.29 6.21 3.34 10.58

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

    Top Equities

    Equity %
    Valeo SA 6.6
    Renault SA 6.5
    ASML NV 5.6
    Allianz SE 5.1
    BNP Paribas 5.0

    Top ETFs

    ETF %
    Lyxor ETF Eurostoxx 600 Tech 7.4
    Lyxor ETF Eurostoxx 600 Banks 5.2
    Lyxor ETF DAX 4.5
    iShares MSCI EM ETF 4.3
    iShares E/Stoxx 600 Materials 3.7


  • Historical Performance to Date (EUR)

    Country Exposure*

    Country %
    France 36.2
    Germany 33.5
    United States 8.5
    Great Britain 6.8
    Netherlands 5.6
    Global 4.3

    *including exposures to ETFs

    Currency Allocation

    Currency %
    EUR 84.0
    USD 9.2
    GBP 6.8

    Asset Allocation

    Asset %
    Cash 2.8
    Equities 97.2


    Sector Breakdown

    Sector %
    ETFs 30.6
    Financial 28.4
    Consumer, Cyclical 22.2
    Technology 9.4
    Industrial 3.4
    Consumer, Non-Cyclical 3.2

Legal Information

* 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 Euro Equity Fund is a sub fund of Calamatta Cuschieri Funds 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 CCFS 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 CC to any person to buy or sell any investment. CC 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 CC.