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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

May 2017 Commentary

The French presidential election panned out even better than we expected with Macron winning 66% of the vote. Coming on the back of the Spanish, Austrian and Dutch elections it is clear that Eurozone countries continue to reject the nationalism and populism evident in the Brexit and US elections. France under Macron is likely to move towards economic reform, openness and working with
Germany to strengthen the Eurozone.

However, the European equity index closed the month flat as most global share markets fell over the last two weeks on the back of the political crisis around President Trump. In this environment the Calamatta Cuschieri Equity Fund gained 0.31% during the month. Year to date the Fund is up 8.22%.

Going forward we expect a short period of uncertainty as doubts surrounding the ‘Trump trade’ re-emerge. Meanwhile Eurozone GDP growth was solid in the March quarter and December quarter growth was revised up with business conditions indicators pointing to a further improvement ahead. Unemployment was unchanged at 9.5% in March, which is well down from its 2013 high of 12.1%. Eurozone March quarter profits are running at a 24% level of increase year-on-year. Eurozone business conditions Purchasing Managers’ Index data remained very strong in April and business confidence rose in Germany and France, which is all consistent with strengthening growth in Europe.

The improving economic environment provides optimism towards our pro-EU investment stance. We expect the June earnings season to be supportive towards our long-term investment strategy in the region.

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 €8.7 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 2016 2015 2014 2013 Since
    Inception *
    Total Return 8.23 -0.93 5.37 1.27  - 15.93
     Calendar Year Performance 1-month 3-month 6-month 9-month 12-month
    Total Return 0.31 7.01 14.37 18.53 16.99

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

    Top Equities

    Equity %
    Allianz SE 5.2
    BMW AG 5.0
    LVMH Louis Vuitton 4.9
    Total SA 4.6
    ASML Holding NV 4.5

     

    Top ETFs

    ETF %
    iShares Eurostoxx 600 Tech 6.9
    iShares Eurostoxx 600 Banks 6.7
    Lyxor CAC 40 ETF 6.5
    iSHares EuroStoxx 50 ETF 4.4
    Lyxor ETF DAX 4.4

     

  • Performance to Date (EUR)

    Country Exposure*

    Country %
    Germany 38.6
    France 37.8
    United States 10.6
    Netherlands 5.0
    Global 3.7
    Ireland 3.5
    Malta 0.7

    *including exposures to ETFs

    Currency Allocation

    Currency %
    EUR 88.9
    USD 11.1
    GBP 0.0%

     

    Asset Allocation

    Asset %
    Cash 0.7
    Equities 99.3

     

    Sector Breakdown

    Sector %
    ETFs 36.3
    Consumer, Cyclical 22.2
    Financial 17.6
    Technology 8.4
    Industrial 5.4
    Basic Materials 3.8
    Consumer, Non-Cyclical 3.3
    Energy 2.3

     

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.
 
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