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Euro Equity 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 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 CC 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.

    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

February 2020 Commentary

In February, the coronavirus (COVID-19) outbreak replaced trade as the main focus for the markets. The Euro equity fund was down 7.54% year to date compared to the Euro Stoxx 50 which was down 11%. The outperformance of the equity fund was due to the high cash levels in the fund and move towards defensive stocks.

Fears of near-term negative effects on Chinese and global growth, together with the expectation that central banks around the globe will provide further monetary policy support, sent core government bond yields lower throughout the month. By the end of the month, the US 10-year Treasury yield stood at a new all-time low of 1.1%, 2.1% points below the recent peak in October 2018.

In the first couple of weeks of February, equity markets shrugged off concerns about the outbreak, supported by a better-than-expected US Q4 earnings season, improving business surveys for January, and the expectation that negative effects of the coronavirus would be temporary and localised. However, the increase in cases outside China led to a sharp selloff towards the end of the month. Developed market equites fell sharply, with the S&P 500 ending the month down 8.2%. From a regional perspective, emerging market equities outperformed developed markets, despite the fact that most COVID-19 infections are currently in Asia, as investors factored in declining rates of new infection in China compared with increasing infections outside China.

The Investment Manager is of the view that in the short term the markets will experience high volatility. For this reason, the cash levels in the fund have increased to take advantage of any opportunities that arise. The Investment Manager remains of the opinion that the names held within the fund will continue to benefit in the medium to long term.

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 €6.7 M
    Number of Holdings 25
    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 %
    Germany 40.0
    France 23.7
    United States 15.4
    Malta 12.3
    China 4.9
    Netherlands 3.6

    *including exposures to ETFs

    Top Equities

    Equity %
    L’ OREAL 5.0
    ALIBABA GROUP 4.9
    MICROSOFT CORP 4.3
    AMAZON 4.1
    AXA SA 4.0
    MASTERCARD 3.8
    SANOFI 3.7
    ASML 3.6
    BMIT 3.6

     

    Top ETFs

    ETF %
    iShares Eurostoxx 50 De 7.4
    Lyxor ETF Eurostoxx 600 Tech 7.0
    iShares MSCI WORLD 5.9
    Lyxor ETF Eurostoxx 600 Healthcare 5.6

     

  • Historical Performance to Date (EUR)

    Performance History

    Calendar Year Performance YTD 2019 2018 2017 Since
    Inception*
    Total Return -7.54 27.49 -18.36 10.39 13.79
    Calendar Year Performance 1-   month 3-    month 6-   month 9-   month 12-    month
    Total Return -6.76 -6.33 1.8 5.68 5.47

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

    Currency Allocation

    Currency %
    EUR 87.1
    USD 12.9
    GBP 0.0

    Asset Allocation

    Asset %
    Cash 6.8
    Equities 93.2

    Sector Breakdown

    Sector %
    ETFs 31.3
    Financial 15.1
    Technology 14.8
    Consumer, Non-Cyclical 11.5
    Communications   9.1
    Consumer, Cyclical   8.4
    Industrial   3.0

     

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 Euro Equity Fund is a sub 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.