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

March 2019

In the first quarter of 2019, the Euro Stoxx 50 experienced a high positive retracement of 12.43% year to date for multiple reasons.

On trade, progress seems to have been made this quarter between the US and China, a main contributor to the rally in the equity markets. We are of the view that an agreement will be signed.

On interest rates, there is some reason for optimism. The Fed Reserve has made a U-turn when it comes to interest rate hikes. The ECB on the other hand have introduced further expansionary policies.

On growth, the Chinese authorities are now stimulating domestic demand with a package of tax cuts, infrastructure investment and measures designed to support bank credit growth.

Easier monetary policy and less disruptive trade policies could continue to support markets in Q2 2019. Moreover, Brexit still remains the star of uncertainty having ended the month of March with the Parliament not agreeing with May’s divorce plan from the EU.

The quarter ended on a good note and the Investment Manager remains of the view that a Trade War agreement will be reached. In addition to, a strong manufacturing figure for China and the US for March reduced fears of a global recession. Also, the Fed and ECB being accommodative to the market remains to be of a benefit for equities.

The Investment Manager (IM) has built positions in high conviction names and further aims to include exposures that will benefit the portfolio from a Trade War agreement. With this in mind, the IM is confident that the stocks in the portfolio should generate alpha for the fund and boost performance.

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)*

9.96%

*View Performance History below
Inception Date: 01 Nov 2013
ISIN: MT7000009031
Bloomberg Ticker: CCFEEAE MV
Entry Charge: Up to 2.5%
Total Expense Ratio: 2.22%
Exit Charge: None
Distribution Yield (%): N/A
Underlying Yield (%): N/A
Distribution: N/A
Total Net Assets: €7.2 m
Month and NAV in EUR: 109.96
Number of Holdings: 25
Auditors: Deloitte Malta
Legal Advisor: Ganado & Associates
Custodian: Sparkasse Bank Malta p.l.c.
% of Top 10 Holdings: 52.9

Performance To Date (EUR)

Top 10 Holdings

Lyxor ETF Eurostoxx 600 Tech
7.4%
Lyxor ETF Eurostoxx 600 H-care
6.5%
Allianz SE
5.7%
Lyxor DAX ETF
5.5%
BMIT Tech
4.8%
iShares Eur600 BasicResources
4.7%
L'oreal
4.7%
Deutsche Post AG
4.6%
ASML NV
4.6%
iShares Eur600 Oil&Gas
3.9%

Major Sector Breakdown

ETFs
28.0%
Financials
21.8%
Information Technology
12.3%
Consumer Staples
10.8%
Consumer Discretionary
10.5%
Industrials
7.6%
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
45.6%
France
28.2%
Malta
9.9%
United States
7.4%
Netherlands
4.6%
China
4.2%
*including exposures to ETFs

Asset Allocation

Cash 3.2%
Equities 96.8%

Performance History (EUR)*

YTD

13.91%

1-month

1.92%

3-month

13.91%

6-month

-4.99%

9-month

-4.96%

Inception*

9.96%

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

Currency Allocation

Euro 91.2%
USD 8.8%
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

    March 2019

    In the first quarter of 2019, the Euro Stoxx 50 experienced a high positive retracement of 12.43% year to date for multiple reasons.

    On trade, progress seems to have been made this quarter between the US and China, a main contributor to the rally in the equity markets. We are of the view that an agreement will be signed.

    On interest rates, there is some reason for optimism. The Fed Reserve has made a U-turn when it comes to interest rate hikes. The ECB on the other hand have introduced further expansionary policies.

    On growth, the Chinese authorities are now stimulating domestic demand with a package of tax cuts, infrastructure investment and measures designed to support bank credit growth.

    Easier monetary policy and less disruptive trade policies could continue to support markets in Q2 2019. Moreover, Brexit still remains the star of uncertainty having ended the month of March with the Parliament not agreeing with May’s divorce plan from the EU.

    The quarter ended on a good note and the Investment Manager remains of the view that a Trade War agreement will be reached. In addition to, a strong manufacturing figure for China and the US for March reduced fears of a global recession. Also, the Fed and ECB being accommodative to the market remains to be of a benefit for equities.

    The Investment Manager (IM) has built positions in high conviction names and further aims to include exposures that will benefit the portfolio from a Trade War agreement. With this in mind, the IM is confident that the stocks in the portfolio should generate alpha for the fund and boost performance.

  • 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)*

    9.96%

    *View Performance History below
    Inception Date: 01 Nov 2013
    ISIN: MT7000009031
    Bloomberg Ticker: CCFEEAE MV
    Entry Charge: Up to 2.5%
    Total Expense Ratio: 2.22%
    Exit Charge: None
    Distribution Yield (%): N/A
    Underlying Yield (%): N/A
    Distribution: N/A
    Total Net Assets: €7.2 m
    Month and NAV in EUR: 109.96
    Number of Holdings: 25
    Auditors: Deloitte Malta
    Legal Advisor: Ganado & Associates
    Custodian: Sparkasse Bank Malta p.l.c.
    % of Top 10 Holdings: 52.9

    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 Tech
    7.4%
    Lyxor ETF Eurostoxx 600 H-care
    6.5%
    Allianz SE
    5.7%
    Lyxor DAX ETF
    5.5%
    BMIT Tech
    4.8%
    iShares Eur600 BasicResources
    4.7%
    L'oreal
    4.7%
    Deutsche Post AG
    4.6%
    ASML NV
    4.6%
    iShares Eur600 Oil&Gas
    3.9%

    Top Holdings by Country*

    Germany
    45.6%
    France
    28.2%
    Malta
    9.9%
    United States
    7.4%
    Netherlands
    4.6%
    China
    4.2%
    *including exposures to ETFs

    Major Sector Breakdown

    ETFs
    28.0%
    Financials
    21.8%
    Information Technology
    12.3%
    Consumer Staples
    10.8%
    Consumer Discretionary
    10.5%
    Industrials
    7.6%

    Asset Allocation

    Cash 3.2%
    Equities 96.8%

    Performance History (EUR)*

    YTD

    13.91%

    1-month

    1.92%

    3-month

    13.91%

    6-month

    -4.99%

    9-month

    -4.96%

    Inception*

    9.96%

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

    Currency Allocation

    Euro 91.2%
    USD 8.8%
    GBP 0.0%
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