Monthly factsheet 30/08/2019 Econopolis Patrimonial ...
2
Highest returns (month) Equity - Top 5 Curr Return ( €) Agnico Eagle Mines USD +9,5% Pepsico USD +8,1% Vinci EUR +6,7% Nestle CHF +5,7% Booking Holdings USD +5,4% Total number of positions 37 Bonds - Top 5 Curr Return ( €) US 2,25% - 15/08/46 USD +13,4% Microsoft 3,75% - 12/02/45 USD +9,9% Microsoft 3,75% - 12/02/45 USD +8,8% Ireland 1,5% - 15/05/50 EUR +8,0% AT&T 5,45% - 01/03/47 USD +7,8% Total number of positions 150 Monthly factsheet Description of the fund Econopolis Patrimonial Sustainable is a compartment of Econopolis Funds SICAV, a UCITS fund under Luxembourg law. The fund aims to deliver a long term return to investors via investments in equity, bonds and monetary instruments, without geographical restrictions and without restrictions concerning sector or currency allocation. The fund is aimed at investors with an investment horizon of more than 5 years. Asset allocation Currency allocation Evolution NAV (class I-cap) Maturity bond component EUR USD NOK CZK GBP CHF Others 5,0% 1,4% 2,0% 2,7% 3,3% 25,1% 60,5% 0 - 1 y 1 - 3 y 3 - 5 y 5 - 7 y 7 - 10 y + 10 y 10,5% 6,0% 12,3% 25,3% 32,3% 13,6% Others 4,6% Bonds 75,9% Cash 3,3% Equity 16,1% Monthly factsheet - Econopolis Patrimonial Sustainable Fund - Data as at 30/08/2019 Comments of the portfolio managers Patrimonial Sustainable grew by 0,9% in a month during which shares markets were put under pressure as a result of fears of recession and an escalating trade war. Within the shares compartment, we sold our remaining position in Allergan. Allergan is the subject of a takeover bid by AbbVie. The transaction will probably drag on until the start of next year and a significant portion of the offer price is made up of shares in AbbVie. We sold Schlumberger because the recovery of investments in the oil sector has not yet gathered pace. As a result, the dividend from Schlumberger may come under pressure. We said goodbye to Siemens after the company issued a profits warning. Food producer Nestlé was welcomed back to the compartment thereafter. Technology company Alphabet was a newcomer to the compartment. In order to capitalise on the increasing price of gold, we added 2 quality gold mining groups into the portfolio, i.e. Agnico Eagle Mines and Newmont Goldcorp. Agnico Eagle Mines is principally active in Canada, Mexico and Finland. Newmont Goldcorp was created earlier this year as the result of a merger and is the world leader in this sector. Finally, we slightly reduced positions in Applied Materials and Vopak and increased positions in Momad Foods. 2019 is well on the way to becoming a fantastic year for bonds. In August, yields were excellent due to further interest rate reductions. The long-term quality bonds realised the best returns. The Belgian government bond, for example, which expires in 2050, increased by almost 8%. However the best yield (up to over 10%) was realised on long-term US Dollar bonds. Most other foreign currencies struggled against the Euro. In August, a long-term company bond was also purchased (Kinepolis 2026). A few other bonds were sold in order to free up cash for more interesting alternatives. The focus in this context was on the sale of central European government bonds with negative interest rates. After the substantial interest rate reduction over the past few months, we expect a period of consolidation in the coming months. Econopolis Patrimonial Sustainable Fund 30/08/2019 Returns NAV class I-cap: 114,28 € NAV class I-dis: 105,50 € Net Asset Value (NAV) Disclaimer: The graph illustrates the past performance of the fund. Past performance does not offer any guarantee for future performance. The performance is net of costs and fees. The fund was launched in February 2013. The performance is calculated in euro. 1 month: +0,91% YTD: +6,31% 2018: -1,79% 2017: +0,86% 2016: +3,78% 2015: +1,94% 2014: +5,84% 98 101 105 108 112 115 19/02/13 30/08/2019
Transcript of Monthly factsheet 30/08/2019 Econopolis Patrimonial ...
Highest returns (month)
Equity - Top 5 Curr Return (€)
Agnico Eagle Mines USD +9,5%
Pepsico USD +8,1%
Vinci EUR +6,7%
Nestle CHF +5,7%
Booking Holdings USD +5,4%
Total number of positions 37
Bonds - Top 5 Curr Return (€)
US 2,25% - 15/08/46 USD +13,4%
Microsoft 3,75% - 12/02/45 USD +9,9%
Microsoft 3,75% - 12/02/45 USD +8,8%
Ireland 1,5% - 15/05/50 EUR +8,0%
AT&T 5,45% - 01/03/47 USD +7,8%
Total number of positions 150
Monthly factsheet
Description of the fund
Econopolis Patrimonial Sustainable is a compartment of Econopolis Funds SICAV, a UCITS fund under Luxembourg law. The fund aims to deliver a long term return to investors via investments in equity, bonds and monetary instruments, without geographical restrictions and without restrictions concerning sector or currency allocation. The fund is aimed at investors with an investment horizon of more than 5 years.
Asset allocation
Currency allocation
Evolution NAV (class I-cap)
Maturity bond component
EUR
USD
NOK
CZK
GBP
CHF
Others 5,0%
1,4%
2,0%
2,7%
3,3%
25,1%
60,5%
0 - 1 y
1 - 3 y
3 - 5 y
5 - 7 y
7 - 10 y
+ 10 y 10,5%
6,0%
12,3%
25,3%
32,3%
13,6%
Others4,6%
Bonds75,9%
Cash3,3%
Equity16,1%
Monthly factsheet - Econopolis Patrimonial Sustainable Fund - Data as at 30/08/2019
Comments of the portfolio managers
Patrimonial Sustainable grew by 0,9% in a month during which shares markets were put under pressure as a result of fears of recession and an escalating trade war. Within the shares compartment, we sold our remaining position in Allergan. Allergan is the subject of a takeover bid by AbbVie. The transaction will probably drag on until the start of next year and a significant portion of the offer price is made up of shares in AbbVie. We sold Schlumberger because the recovery of investments in the oil sector has not yet gathered pace. As a result, the dividend from Schlumberger may come under pressure. We said goodbye to Siemens after the company issued a profits warning. Food producer Nestlé was welcomed back to the compartment thereafter. Technology company Alphabet was a newcomer to the compartment. In order to capitalise on the increasing price of gold, we added 2 quality gold mining groups into the portfolio, i.e. Agnico Eagle Mines and Newmont Goldcorp. Agnico Eagle Mines is principally active in Canada, Mexico and Finland. Newmont Goldcorp was created earlier this year as the result of a merger and is the world leader in this sector. Finally, we slightly reduced positions in Applied Materials and Vopak and increased positions in Momad Foods. 2019 is well on the way to becoming a fantastic year for bonds. In August, yields were excellent due to further interest rate reductions. The long-term quality bonds realised the best returns. The Belgian government bond, for example, which expires in 2050, increased by almost 8%. However the best yield (up to over 10%) was realised on long-term US Dollar bonds. Most other foreign currencies struggled against the Euro. In August, a long-term company bond was also purchased (Kinepolis 2026). A few other bonds were sold in order to free up cash for more interesting alternatives. The focus in this context was on the sale of central European government bonds with negative interest rates. After the substantial interest rate reduction over the past few months, we expect a period of consolidation in the coming months.
Econopolis Patrimonial Sustainable Fund30/08/2019
Returns
NAV class I-cap: 114,28 €
NAV class I-dis: 105,50 €
Net Asset Value (NAV)
Disclaimer: The graph illustrates the past performance of the fund. Past performance does not offer any guarantee for future performance. The performance is net of costs and fees. The fund was launched in February 2013. The performance is calculated in euro.
1 month: +0,91%
YTD: +6,31%
2018: -1,79%
2017: +0,86% 2016: +3,78%
2015: +1,94% 2014: +5,84%
98
101
105
108
112
115
19/02/13 30/08/2019
Monthly factsheet
Geographical allocation bondsEurope
North America
Emerging Europe
Supranational
Latin America
Middle East & Africa
Asia-Pacific 0,4%
0,7%
1,8%
3,5%
11,4%
19,8%
62,4%
Monthly factsheet - Econopolis Patrimonial Sustainable Fund - Data as at 30/08/2019
Econopolis Patrimonial Sustainable Fund30/08/2019
Geographical allocation equity
Europe
North America
Asia-Pacific
Emerging Europe
Latin America
Middle East & Africa 0,0%
0,0%
0,0%
0,0%
40,9%
59,2%
Split corporate and government bonds
Main characteristics bonds
Average rating: A
Current yield to maturity: 1,1 %
Average coupon yield: 2,3 %
Average maturity: 5,2 year
Duration: 4,3 year
Sector allocation equity
Consumer StaplesMaterials
ITIndustry
Health careConsumer Discretionary
CommunicationUtilitiesEnergy
Financials 2,1%2,3%2,8%
4,8%5,9%
11,7%13,5%
15,1%20,4%
21,4%
Key facts and practical information
Compartment of: SICAV under Luxembourg law with European Passport
Risk profile: 1 - 2 - 3 - 4 - 5 - 6 - 7
Launch date: February 2013
Currency: EUR
ISIN Code I-class Capitalisation: LU0889925391
ISIN Code I-class Distribution: LU0889925474
Size: 117,6 million EUR
Investment horizon: 5 year
Shares: Capitalisation & Distribution
Subscription fee: Max. 3% depending on distributor
Redemption fee: Max. 3% depending on distributor
Subscription and redemption: Weekly on Monday before 12:00 pm
Management fee: 0,70%
Performance fee: Not applicable
NAV-reporting: www.fundsquare.net/homepage, Bloomberg, Reuters,…
Licensed in: Belgium, Switzerland, Luxembourg, Spain
WarningThe compartment is approved for distribution in Belgium, Luxembourg, Switzerland and Spain. The prospectus and essential investor information, KIID, are available on the website www.fundsquare.net, where the net asset value is also published. This document is a general document for a general public and is not based on information of the personal situation of the reader. There is no review of the knowledge and experience of the reader, neither of his financial situation or investment objectives. There are possibly financial instruments mentioned in this document that are not suitable nor appropriate for the reader. Therefore the document exclusively contains product information of the mentioned financial instruments and cannot be considered as investment advice.
Contact
Econopolis Wealth Management NV I Sneeuwbeslaan 20 bus 12 I 2610 Wilrijk I Tel. + 32 3 3 666 555 I fax + 32 3 3 666 466 I [email protected] I www.econopolis.be Responsible editor : Geert Noels, Econopolis Wealth Management NV Distributor in Spain: Allfunds Bank, S.A. I Calle de la Estafeta 4 I 28109 Alcobendas, Madrid I Spain
Government bonds49,4%
Corporate bonds50,6%
Sustainability analysis
Average sustainability risk < 30 ✔No controversial names (controversy score > 3) ✔
Confirm with exclusion list Norwegian Pension Fund ✔Focus on Econoshock themes ✔
