• Global-Opportunities-Fund

Global Opportunities Fund

  • INVESTMENT OBJECTIVES

    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 CC Global Opportunities 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 CC Global Opportunities Fund invests in Blue Chip companies trading on major world 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.

    STRUCTURE

    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.

    MANAGEMENT

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

Overview

→ Investor Profile
→ Currencies
→ Top up
→ Monitoring and Pricing
→ Entry and Exit Fees
→ Minimum Investment
→ Fund Rules at a glance
→ Target dividend
→ Other Information

Commentary

September 2020 Commentary

The Global Opportunities fund was down 1.68% for the month of September and down 3.50% for the year. This performance is a result of the prudent stance of the Manager to invest in stocks, which continue to do well in uncertain times whilst also slowly building a position in those stocks in beaten down industries a longer-term view on their valuations.

The third quarter emphasized the benefits of geographic diversification. Asian equities returned over 10% and are the joint best performing equity region year to date, up over 5%. Meanwhile, UK equities fell 3% and are down 20% year to date. European equities also lagged the rest of the world, with returns of 2% and -7% for the quarter and year to date respectively. US equities delivered nearly 9% over the quarter and over 5% this year.

Asia’s strong performance has been helped by China’s remarkable success in containing the virus. This has allowed subway usage in China’s major cities to recover to only 10% below 2019 levels, compared with tube use in London, which remained down more than 60% even before the latest work-from-home measures were announced.

In the US, the summer started with a sharp rise in the number of people in hospital with Covid-19, but since late July that number has declined sharply, perhaps helped by increased use of face masks. In Europe and the UK, hospitalizations have been very low for most of the summer, but have started to creep up, with Spain and then France and the UK seeing a rise in cases. This has prompted concerns that, as summer turns to autumn and temperatures drop, hospitalizations and deaths could start to rise more meaningfully.

The US election is also heating up, with polls now suggesting that Trump has gained ground in some key swing states, such as Florida and North Carolina, but still needs to make further gains in at least two of the other key swing states of Arizona, Michigan, Pennsylvania and Wisconsin if he is to retain the presidency.

The final quarter of the year could be particularly eventful. By January, we should know the outcome of the US election, whether a no-deal Brexit was avoided and whether US Congress has passed more fiscal stimulus. Most importantly, there is a good chance that we will get news on a vaccine. For now, we continue to believe the focus should be on diversification, both regionally and by asset class, with alternative and targeted absolute return strategies playing an increasingly important role in portfolio diversification. However, we also think it’s worth considering what to buy if we get good news on a vaccine.

Given the high degree of uncertainty around the outlook for the virus and a vaccine, the Investment Manager continues to believe it makes sense to aim for a defensive portfolio taking up selective positions in cyclical stocks with long-term value. In this environment, the Investment Manager favors an up-in-quality approach across for stocks with a focus on valuations relative to fundamentals.

Factsheet

  • 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 CC Fund Services (Malta) Limited.
    Auditors Deloitte Malta
    Legal Advisors Ganado & Associates
    Launch Date 1st November 2013
    Domicile Malta
    Currency Euro (€)
    Dealing Frequency Daily
    Fund Size €7.1 M
    Number of Holdings 21
    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

    Country Exposure*

    Country %
    France 13.0
    United States 11.7
    Germany 8.3
    China 6.3
    Netherlands 3.4
    Jersey 1.9
    Malta 1.7

    *including exposures to ETFs

    Top Equities

    Equity %
    Alibaba Group 6.3
    L’Oreal 5.4
    Microsoft Corp 4.5
    Amazon 3.8
    SAP SE 3.7
    Sanofi 3.6
    ASML Holding NV 3.4
    Home Depot 3.3
    Munich Re 2.7
    Danone 2.3

     

    Top ETFs

    ETF %
    iShares MSCI World Min Vol 13.4
    Lyxor EuroStoxx600 Technology 7.7
    Lyxor EuroStoxx 600 Healthcare 6.3
    Lyxor EuroStoxx600 Industrials 5.5
    iShares MSCI World UCITS ETF 5.4
    iShares Core Euro Stoxx 50 DE 4.0

     

  • Historical Performance to Date (EUR)

    Performance History

    Calendar Year Performance YTD 2019 2018 2017 Since
    Inception*
    Total Return -3.50 27.49 -18.36 10.39 18.76
    Calendar Year Performance 1-   month 3-    month 6-   month 9-   month 12-    month
    Total Return -1.68 1.70 16.96 -3.50 3.11

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

    Currency Allocation

    Currency %
    EUR 70.0
    USD 30.0

    Asset Allocation

    Asset %
    Cash 5.9
    Equities 50.4
    ETF 43.7

    Sector Breakdown

    Sector %
    ETF 41.7
    Technology 17.4
    Consumer, Cyclical 15.2
    Consumer, Non-cyclical 7.8
    Financials 4.6
    Health Care 3.6
    Basic Materials 1.9

     

Legal Information

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 Global Opportunities Fund of  CCFundsSicav 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.