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

September 2019

The month of September turned out to be a positive month for equities. Despite ongoing economic growth concerns, investors reacted positively to fresh announcements of accommodative monetary policy decisions by the European Central Bank (ECB) and the US Federal Reserve (Fed). The Euro Equity Fund continued to improve its performance for the year, adding a further 3.04 percent in September, contributing to a total performance of 19.32 percent year-to-date.

Both the ECB and the Fed announced new measures to stimulate the flagging economy. In Europe, the European Central Bank (ECB) announced an interest rate cut of 10 basis points to -0.50 percent and restarted quantitative easing with an asset purchase program (APP) of €20 billion per month. The ECB committed to the reinvestment of maturing securities under the APP for an extended period of time, past the date when the key ECB interest rates starts increasing. Moreover, a two-tier system for reserve remuneration will be introduced to exempt the banks’ excess liquidity from a negative deposit rate.

Meanwhile, the U.S Federal Reserve cut its interest rates for the second time in over a decade. The Fed lowered the fed funds target rate by 25 basis points, to the range of 1.75 percent to 2.0 percent, over concerns that the uncertainty over the U.S-China trade war is slowing down the manufacturing sector and weighing on business confidence.

During the month of September, investors favoured the more cyclical sectors. The financial sector was the best performer on the month, followed by energy and materials. However, the more defensive sectors outperformed on a quarterly basis, including the utilities, real estate and consumer staples.

As we head into earnings season, the Investment Manager (IM) 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)*

15.18%

*View Performance History below
Inception Date: 01 Nov 2013
ISIN: MT7000009031
Bloomberg Ticker: CCFEEAE MV
Entry Charge: Up to 2.5%
Total Expense Ratio: 2.25%
Exit Charge: None
Distribution Yield (%): N/A
Underlying Yield (%): N/A
Distribution: N/A
Total Net Assets: €7.3 m
Month end NAV in EUR: 115.18
Number of Holdings: 23
Auditors: Deloitte Malta
Legal Advisor: Ganado & Associates
Custodian: Sparkasse Bank Malta p.l.c.
% of Top 10 Holdings: 55.4

Performance To Date (EUR)

Top 10 Holdings

Lyxor ETF Eurostoxx 600 H-care
7.2%
Allianz SE
7.0%
iShares Eur600 Oil&Gas
6.0%
ASML NV
5.1%
L'Oreal
5.1%
Airbus SE
5.0%
LVMH
5.0%
iShares Eur600 BasicResources
4.2%
Lyxor ETF Eurostoxx 600 Tech
3.9%
Lyxor DAX ETF
3.3%

Major Sector Breakdown

ETFs
24.5%
Financials
19.8%
Consumer Staples
13.2%
Consumer Discretionary
12.5%
Industrials
10.0%
Asset 7
Communications
4.0%
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
46.5%
France
35.0%
Malta
5.9%
Netherlands
5.1%
United States
5.1%
*including exposures to ETFs

Asset Allocation

Cash 1.0%
Equities 99.0%

Performance History (EUR)*

YTD

19.32%

1-month

3.04%

3-month

1.17%

6-month

4.75%

9-month

19.32%

Inception*

15.18%

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

Currency Allocation

Euro 92.5%
USD 7.5%
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

    September 2019

    The month of September turned out to be a positive month for equities. Despite ongoing economic growth concerns, investors reacted positively to fresh announcements of accommodative monetary policy decisions by the European Central Bank (ECB) and the US Federal Reserve (Fed). The Euro Equity Fund continued to improve its performance for the year, adding a further 3.04 percent in September, contributing to a total performance of 19.32 percent year-to-date.

    Both the ECB and the Fed announced new measures to stimulate the flagging economy. In Europe, the European Central Bank (ECB) announced an interest rate cut of 10 basis points to -0.50 percent and restarted quantitative easing with an asset purchase program (APP) of €20 billion per month. The ECB committed to the reinvestment of maturing securities under the APP for an extended period of time, past the date when the key ECB interest rates starts increasing. Moreover, a two-tier system for reserve remuneration will be introduced to exempt the banks’ excess liquidity from a negative deposit rate.

    Meanwhile, the U.S Federal Reserve cut its interest rates for the second time in over a decade. The Fed lowered the fed funds target rate by 25 basis points, to the range of 1.75 percent to 2.0 percent, over concerns that the uncertainty over the U.S-China trade war is slowing down the manufacturing sector and weighing on business confidence.

    During the month of September, investors favoured the more cyclical sectors. The financial sector was the best performer on the month, followed by energy and materials. However, the more defensive sectors outperformed on a quarterly basis, including the utilities, real estate and consumer staples.

    As we head into earnings season, the Investment Manager (IM) 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)*

    15.18%

    *View Performance History below
    Inception Date: 01 Nov 2013
    ISIN: MT7000009031
    Bloomberg Ticker: CCFEEAE MV
    Entry Charge: Up to 2.5%
    Total Expense Ratio: 2.25%
    Exit Charge: None
    Distribution Yield (%): N/A
    Underlying Yield (%): N/A
    Distribution: N/A
    Total Net Assets: €7.3 m
    Month end NAV in EUR: 115.18
    Number of Holdings: 23
    Auditors: Deloitte Malta
    Legal Advisor: Ganado & Associates
    Custodian: Sparkasse Bank Malta p.l.c.
    % of Top 10 Holdings: 55.4

    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 H-care
    7.2%
    Allianz SE
    7.0%
    iShares Eur600 Oil&Gas
    6.0%
    ASML NV
    5.1%
    L'Oreal
    5.1%
    Airbus SE
    5.0%
    LVMH
    5.0%
    iShares Eur600 BasicResources
    4.2%
    Lyxor ETF Eurostoxx 600 Tech
    3.9%
    Lyxor DAX ETF
    3.3%

    Top Holdings by Country*

    Germany
    46.5%
    France
    35.0%
    Malta
    5.9%
    Netherlands
    5.1%
    United States
    5.1%
    *including exposures to ETFs

    Major Sector Breakdown

    ETFs
    24.5%
    Financials
    19.8%
    Consumer Staples
    13.2%
    Consumer Discretionary
    12.5%
    Industrials
    10.0%
    Asset 7
    Communications
    4.0%

    Asset Allocation

    Cash 1.0%
    Equities 99.0%

    Performance History (EUR)*

    YTD

    19.32%

    1-month

    3.04%

    3-month

    1.17%

    6-month

    4.75%

    9-month

    19.32%

    Inception*

    15.18%

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

    Currency Allocation

    Euro 92.5%
    USD 7.5%
    GBP 0.0%
  • Downloads

Designed and Developed by