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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

October 2019 Commentary

Financial markets welcomed signs of an easing in geopolitical tensions in October, with risk assets generally outperforming traditional safe havens. The U.S and Chinese authorities moved closer to agreeing a partial deal on trade, while the UK once again edged back from the precipice of a no-deal Brexit. Global central banks reiterated their dovish stances and the U.S Federal Reserve cut interest rates for the third time this year.

The U.S earnings season for the third quarter of the year is well underway, with companies so far doing better than expected. Earnings per share and sales are growing at 1 percent and 4 percent year on year, respectively on the S&P 500. However, U.S companies continue to give lower guidance for next year’s earnings, with the trade dispute an ongoing theme.

In Europe, October’s European Central Bank (ECB) meeting marked Mario Draghi’s final press conference as president. Christine Lagarde, former head of the International Monetary Fund, now takes the reins. Lagarde inherits an ECB tool kit that is nearing its limits, with interest rates at -0.5 percent and quantitative easing of EUR 20 billion per month in place until the inflation target is close to being achieved. With a seemingly depleted monetary toolkit, the challenge will be whether Lagarde can convince governments to loosen the fiscal purse strings to stimulate the economy.

To the surprise of markets, Prime Minister Boris Johnson was able to agree a new Brexit deal with the European Union. The new deal gained more support in the House of Commons; however, members of parliament refused to approve rushing through the legislation process in order to leave the EU on the 31 October deadline. This meant an extension to the departure deadline was agreed to 31 January 2019. A general election will now be held on 12 December, as the prime minister seeks a new parliamentary majority to pass his deal.

The Investment Manager remains of the opinion that the names held within the fund have further to gain. Nonetheless, the IM remains cautious and continues to monitor the developments in the U.S-China trade war, the Brexit saga and general economic conditions, with the aim to adjust the Fund’s positioning to further benefit from market developments.

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 €7.5 M
    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

    Country Exposure*

    Country %
    France 43.8
    United States 32.4
    Malta 10.2
    Netherlands 5.0
    China 2.3

    *including exposures to ETFs

    Top Equities

    Equity %
    SAP Se 5.2
    Airbus SE 5.1
    ASML Holdings 5.0
    LVMH 5.0
    Muencher Rueckver 5.0

     

    Top ETFs

    ETF %
    Lyxor ETF Eurostoxx 600 H-care 6.8
    iShares Eur600 BasicResources 4.0
    iShares Eur600 Tech 3.8
    Lyxor ETF Eurostoxx 50 3.6
    Lyxor DAX ETF 3.2

     

  • Historical Performance to Date (EUR)

    Performance History

    Calendar Year Performance YTD 2018 2017 2016 Since
    Inception*
    Total Return 21.64 -18.36 10.39 -0.93  17.42
    Calendar Year Performance 1-month 3-month 6-month 9-month 12-month
    Total Return 1.94 3.41 2.18 13.82 10.52

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

    Currency Allocation

    Currency %
    EUR 90.9
    USD 9.1
    GBP 0.0

    Asset Allocation

    Asset %
    Cash 1.6
    Equities 98.4

    Sector Breakdown

    Sector %
    ETFs 24.1
    Technology 18.2
    Financial 17.0
    Consumer, Non-Cyclical 13.1
    Consumer, Cyclical 10.1
    Industrial 10.0
    Communications 5.8

     

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.