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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

July 2017 Commentary

The month started with the European Central Bank indicating it is considering dropping its easing bias. This triggered a mini ‘taper tantrum’. The response in equity markets was subdued and negative movement are being interpreted as a normal correction following strong gains and investor complacency in the first half of the year.

Meanwhile US Federal Reserve Chair Yellen stuck to her recent script in front of Congress by emphasising that monetary policy adjustment would be ‘gradual’. The Fed is still expected to raise interest rates once more this year in December. However, the infighting in the US admiration and the failure to pass significant legislation has tempered confidence in the US dollar.

On the back of these expectations, the Euro moved significantly upwards against the dollar closing the month at 1.1842 over 5% from the start of the month. Consequently, Eurozone shares fell over 3%. US equity indices remained largely unchanged.

Data emerging from Europe remains strong and consistent; in addition, political risk appears to have shifted to the United States. Under these circumstances, the investment managers expect European equities to outperform in the medium term. Currency adjustment appear to be reaching a peak and the European earnings season is mostly in line with expectations.

The third quarter of 2017 is expected to remain turbulent. Currency risk in the fund in mostly hedged. The investment managers are also seeking opportunities and adjusting the allocation when investments deviate from their fundamental values. The fourth quarter of 2017 is expected to be more in line with the Investment Managers base scenario.

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 6.83 -0.93 5.37 1.27  - 14.43
     Calendar Year Performance 1-month 3-month 6-month 9-month 12-month
    Total Return 0.93 -0.99 7.86 14.84 24.23

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

    Top Equities

    Equity %
    Valeo SA 7.2
    Allianz SE 5.8
    ASML Holding NV 5.8
    BNP Paribas 5.1
    LVMH 4.8

     

    Top ETFs

    ETF %
    Lyxor ETF Eurostoxx 600 Banks 7.3
    Lyxor ETF Eurostoxx 600 Tech 7.1
    iShares MSCI EM ETF 4.0
    iShares E/Stoxx 600 Materials 3.7
    iShares E/Stoxx 600 Oil&Gas 3.1

     

  • Performance to Date (EUR)

    Country Exposure*

    Country %
    Germany 38.8
    France 32.8
    United States 13.4
    Netherlands 5.8
    Global 4.0
    Ireland 3.7

    *including exposures to ETFs

    Currency Allocation

    Currency %
    EUR 85.9
    USD 14.1
    GBP 0.0

     

    Asset Allocation

    Asset %
    Cash 1.6
    Equities 98.4

     

    Sector Breakdown

    Sector %
    ETFs 27.4
    Consumer, Cyclical 27.4
    Financial 24.0
    Technology 9.0
    Basic Materials 3.8
    Industrial 3.5
    Consumer, Non-Cyclical 3.2
    Communications 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.
 
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