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.

Investor Profile

A typical investor in the CC Euro Equity Funds is:

  • Seeking to achieve capital growth over time.
  • Seeking an actively managed & diversified equity portfolio in European blue-chip companies

Fund Rules

The Investment Manager of the CC Euro Equity Fund has the duty to ensure that the underlying investments of the fund is well diversified.

The investment manager has to abide by a number of investment restrictions to safeguard the value of the assets of the fund. Some of the restrictions include:

  • The fund may not invest more than 10% of its assets in securities listed by the same body
  • The fund may not keep more than 10% of its assets on deposit with any one credit institution. This limit may be increased to 30% in respect of deposits with an Approved Institution
  • The fund may not invest more than 20% of its assets in any other funds
  • The fund may not carry out uncovered sales (naked short-selling) of securities or other financial instruments

Commentary

December 2019

Last Christmas, the markets gave investors a fright. This year, to save us from tears, the central banks gave us something special. Equity markets delivered fantastic returns in 2019. The MSCI World Index was up 28%, led by US equities (+31%), with European equities (+27%) in hot pursuit.

The first four months of 2019 brought a strong rebound, as central banks signalled that rather than raise interest rates they would provide yet more stimulus to try to keep the economic expansion intact. Equities clearly believed the central banks would succeed.

Then, from the end of April to the end of September, global equities broadly traded sideways with some bumps in the road, as investors digested the ebbs and flows in the trade negotiations between the US and China, and the continued deterioration in macroeconomic indicators.

However, the fourth quarter has tilted the year in favour of the bulls. Global equities rose 9% in the last three months of the year, while developed market government bonds gave up some of their gains.

Moving into 2020, 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.

Key Facts & Performance

Fund Manager

Kristian Camenzuli

Kristian is the Head of the Equity Desk at Calamatta Cuschieri which manages discretionary portfolios. He is also the lead manager of the CC Euro Equity Fund. Kristian sits on various investment committees. He is a regular contributor to the local press and investment seminars as well as a visiting lecturer at the University of Malta. He is CFA qualified and graduated with Honours in Economics from the University of Malta.

PRICE (EUR)

ASSET CLASS

Equity

MIN. INITIAL INVESTMENT

€2500

FUND TYPE

UCITS

BASE CURRENCY

EUR

RETURN (SINCE INCEPTION)*

23.07%

*View Performance History below
Inception Date: 01 Nov 2013
ISIN: MT7000009031
Bloomberg Ticker: CCFEEAE MV
Entry Charge: Up to 2.5%
Total Expense Ratio: 2.33%
Exit Charge: None
Distribution Yield (%): N/A
Underlying Yield (%): N/A
Distribution: N/A
Total Net Assets: €7.7 m
Month end NAV in EUR: 123.07
Number of Holdings: 22
Auditors: Deloitte Malta
Legal Advisor: Ganado & Associates
Custodian: Sparkasse Bank Malta p.l.c.
% of Top 10 Holdings: 56.8

Performance To Date (EUR)

Top 10 Holdings

Lyxor ETF Eurostoxx 600 Health
7.2%
Lyxor ETF Eurostoxx 600 Tech
6.7%
iShares Eurostoxx 50 De
6.0%
Lyxor ETF Dax
5.9%
ASML
5.6%
LVMH
5.4%
SAP SE
5.3%
Airbus SE
5.2%
L' Oreal
4.9%
Alibaba Group
4.6%

Major Sector Breakdown

ETFs
25.9%
Information Technology
17.8%
Consumer Discretionary
13.7%
Financials
13.4%
Consumer Staples
11.4%
Asset 7
Communications
8.2%
Data for maturity buckets is not available for this fund.
Data for credit ratings is not available for this fund.

Risk & Reward Profile

1
2
3
4
5
6
7
Lower Risk

Potentialy Lower Reward

Higher Risk

Potentialy Higher Reward

Top Holdings by Country*

Germany
36.6%
France
31.7%
United States
13.8%
Malta
7.7%
Netherlands
5.6%
*including exposures to ETFs

Asset Allocation

Cash 4.5%
Equities 95.5%

Performance History (EUR)*

YTD

27.49%

1-month

1.31%

3-month

6.85%

6-month

8.10%

9-month

11.92%

Inception*

23.07%

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

Currency Allocation

Euro 88.2%
USD 11.8%
GBP 0.0%
Data for risk statistics is not available for this fund.

Interested in this product?

  • 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.
  • Investor profile

    A typical investor in the CC Euro Equity Funds is:

    • Seeking to achieve capital growth over time.
    • Seeking an actively managed & diversified equity portfolio in European blue-chip companies
    Investor Profile Icon
  • Fund Rules

    The Investment Manager of the CC High Income Bond Funds – EUR and USD has the duty to ensure that the underlying investments of the funds are well diversified. According to the prospectus, the investment manager has to abide by a number of investment restrictions to safeguard the value of the assets

    • The fund may not invest more than 10% of its assets in securities listed by the same body
    • The fund may not keep more than 10% of its assets on deposit with any one credit institution. This limit may be increased to 30% in respect of deposits with an Approved Institution
    • The fund may not invest more than 20% of its assets in any other funds
    • The fund may not carry out uncovered sales (naked short-selling) of securities or other financial instruments
  • Commentary

    December 2019

    Last Christmas, the markets gave investors a fright. This year, to save us from tears, the central banks gave us something special. Equity markets delivered fantastic returns in 2019. The MSCI World Index was up 28%, led by US equities (+31%), with European equities (+27%) in hot pursuit.

    The first four months of 2019 brought a strong rebound, as central banks signalled that rather than raise interest rates they would provide yet more stimulus to try to keep the economic expansion intact. Equities clearly believed the central banks would succeed.

    Then, from the end of April to the end of September, global equities broadly traded sideways with some bumps in the road, as investors digested the ebbs and flows in the trade negotiations between the US and China, and the continued deterioration in macroeconomic indicators.

    However, the fourth quarter has tilted the year in favour of the bulls. Global equities rose 9% in the last three months of the year, while developed market government bonds gave up some of their gains.

    Moving into 2020, 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.

  • Key facts & performance

    Fund Manager

    Kristian Camenzuli

    Kristian is the Head of the Equity Desk at Calamatta Cuschieri which manages discretionary portfolios. He is also the lead manager of the CC Euro Equity Fund. Kristian sits on various investment committees. He is a regular contributor to the local press and investment seminars as well as a visiting lecturer at the University of Malta. He is CFA qualified and graduated with Honours in Economics from the University of Malta.

    PRICE (EUR)

    ASSET CLASS

    Equity

    MIN. INITIAL INVESTMENT

    €2500

    FUND TYPE

    UCITS

    BASE CURRENCY

    EUR

    RETURN (SINCE INCEPTION)*

    23.07%

    *View Performance History below
    Inception Date: 01 Nov 2013
    ISIN: MT7000009031
    Bloomberg Ticker: CCFEEAE MV
    Entry Charge: Up to 2.5%
    Total Expense Ratio: 2.33%
    Exit Charge: None
    Distribution Yield (%): N/A
    Underlying Yield (%): N/A
    Distribution: N/A
    Total Net Assets: €7.7 m
    Month end NAV in EUR: 123.07
    Number of Holdings: 22
    Auditors: Deloitte Malta
    Legal Advisor: Ganado & Associates
    Custodian: Sparkasse Bank Malta p.l.c.
    % of Top 10 Holdings: 56.8

    Performance To Date (EUR)

    Risk & Reward Profile

    1
    2
    3
    4
    5
    6
    7
    Lower Risk

    Potentialy Lower Reward

    Higher Risk

    Potentialy Higher Reward

    Top 10 Holdings

    Lyxor ETF Eurostoxx 600 Health
    7.2%
    Lyxor ETF Eurostoxx 600 Tech
    6.7%
    iShares Eurostoxx 50 De
    6.0%
    Lyxor ETF Dax
    5.9%
    ASML
    5.6%
    LVMH
    5.4%
    SAP SE
    5.3%
    Airbus SE
    5.2%
    L' Oreal
    4.9%
    Alibaba Group
    4.6%

    Top Holdings by Country*

    Germany
    36.6%
    France
    31.7%
    United States
    13.8%
    Malta
    7.7%
    Netherlands
    5.6%
    *including exposures to ETFs

    Major Sector Breakdown

    ETFs
    25.9%
    Information Technology
    17.8%
    Consumer Discretionary
    13.7%
    Financials
    13.4%
    Consumer Staples
    11.4%
    Asset 7
    Communications
    8.2%

    Asset Allocation

    Cash 4.5%
    Equities 95.5%

    Performance History (EUR)*

    YTD

    27.49%

    1-month

    1.31%

    3-month

    6.85%

    6-month

    8.10%

    9-month

    11.92%

    Inception*

    23.07%

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

    Currency Allocation

    Euro 88.2%
    USD 11.8%
    GBP 0.0%
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