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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 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.

    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 2017 Commentary

The world economy seems to be recovering steadily. Expectations of economic growth often accompanied by higher interest rate expectations are having a twofold impact on equity valuations. The twin effect; an expected earnings increases from higher economic growth and the expected rotation from fixed income to equities as a result of higher interest rates, is dramatic.

In February, European equities gained 2.75 percent as market analysts continued to reprice future earnings. Optimism was supported by a decent earnings season and a rebound in profit margins, even if most of the growth was already priced-in. However, we believe that the Q416 results were the first stage of a strengthening earnings recovery.

Throughout most of the period under review the allocation of the equity fund was fully utilised to represent the Investment manager’s preferred sectors. The automobile suppliers, luxury goods, Insurance and technology have outperformed. An overweight position in German stocks contributed further to the fund’s positive performance.

A cash balance created towards the end of February will be utilised as a buffer against any unexpected market movements. The Fund Managers expect 2017 to continue to be positive for European Equities. Still, in the short term, elections in the Netherlands and France and the start of Brexit negotiations may increase short-term market volatility.

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 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 €8.5 Million
    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

    Historical Performance (%)*

    1-month 3-month 6-month 9-month
    Fund 0.39% -1.29% 2.29% N/A
    12-month H2 2015 YTD Since Inception
    Fund N/A N/A -9.54% -2.19%

    * Performance figures are calculated using the Value Added Monthly Index “VAMI” principle. The VAMI calculates the total return gained by an investor from reinvestment of any dividends and additional interest gained through compounding.

    Top Equities

    Equity %
    ASML Holding NV 6.1%
    Allianz SE 5.8%
    LVMH Louis Vuitton 5.6%
    BMW AG 5.5%
    Total SA 5.0%

     

    Top ETFs

    ETF %
    iShares Eurostoxx 50 ETF 6.7%
    iShares Eurostoxx 600 Tech 6.0%
    Lyxor CAC 40 ETF 5.6%
    Lyxor ETF DAX 4.7%
    iShares Core S&P 500 3.8%

     

  • Performance to Date (EUR)

    Country Exposure*

    Country %
    France 37.4%
    Germany 35.5%
    Malta 11.1%
    United States 10.0%
    Netherlands 6.1%

    *including exposures to ETFs

    Currency Allocation

    Currency %
    EUR 92.6%
    USD 7.4%
    GBP 0.0%

     

    Asset Allocation

    Asset %
    Cash 11.1
    Equities 88.9%

     

    Sector Breakdown

    Sector %
    ETFs 30.4%
    Consumer, Cyclical 20.3%
    Financial 16.6%
    Technology 9.1%
    Energy 5.0%
    Industrial 4.7%
    Consumer, Non-Cyclical 2.9%
    Basic Materials 0.0%

     

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.