The sub fund’s objective is to outperform the following indices over a recommended investment horizon of 5 years: 70% Stoxx Europe 600 y 30% S&P500 EUR. The sub-fund will invest up to 100% of its assets in a selected portfolio of international equities (mainly in mid and big capitalisations) traded on organized markets with no geographical constraints. The sub-fund may invest up to 100% of its assets in other UCITS and/or other UCIs (including ETFs) provided that the underlying funds have an investment policy that is consistent with the investment policy of the sub-fund. Investments in emerging countries will not exceed 50 % of the net assets of the Sub-Fund. The implementation of financial derivatives will only respond to a discretional hedging of currency risk.
Comment
12/2024
With nearly 60% of companies having reported earnings during the month and 85% beating earnings expectations, stocks once again hit record highs during the month of July despite a resurgence of COVID-19 cases. Inflation also continued to climb, but it haven’t caused the central banks to change course just yet: moving closer to tapering. Unlike previous quarters, Healthcare led all sectors to start 3Q21, while Financials and Energy closed the month down. It should be noted, though, that Energy stocks remain the market leaders on a YTD basis. as for the fixed income side, Treasury yields slumped to lows last seen in February. Such a sharp decline in yields would normally imply a downgrade to the growth outlook. However, we see the current level of yields as inconsistent given the strength of the recovery, at least in US. For the Euro area seems that interest rates will remain negative for a very long time, and fiscal policy instead of monetary policy should be put in place to break out of the low growth and infation environment.
prices updated on
Dec 20, 2024 1:00
Summary Sheet
Investment platformS
Allfunds, Fundsettle, Inversis
Management style
Investment in traditional assets (up to 100% in equity)
