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 Global Opportunities 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 Global Opportunities fund invests in Blue Chip companies trading on major world 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 Global Opportunities Funds is:

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

Fund Rules

The Investment Manager of the CC Global Opportunities 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

April 2020

After the severe shock in March, markets rebounded strongly in April. COVID-19 continued to spread globally, but some countries saw daily new infection rates start to fall and are now planning to gradually reopen their economies. Governments and central banks introduced very significant stimulus measures to reduce the damage caused by the economic shutdown, restoring some positive sentiment to markets.

Volatility declined from extreme levels. Developed stock markets outperformed emerging markets and growth stocks outperformed value. The S&P 500 index returned 12.8% and has recovered close to 60% of its prior decline. 

Massive global fiscal and monetary responses fuelled a strong market rebound in April despite macroeconomic data that showed the huge economic cost of the COVID-19 shutdowns.

Analysts revised down 2020 earnings estimates, which are now expected to decline by over 15% in the US and Europe. Dividends may also suffer cuts as companies prioritise balance sheet protection over profit distribution.

Despite April’s market rebound, considerable uncertainty remains over the trajectory of global growth over the coming quarters. A lot will depend on the extent to which economies can successfully reopen. For this reason, the investment managers remain prudent and expect further volatility. However, they acknowledge that the unprecedented policy response – particularly the willingness of central banks to intervene in credit markets – has shifted the balance of risks.

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)*

9.64%

*View Performance History below
Inception Date: 01 Nov 2013
ISIN: MT7000009031
Bloomberg Ticker: CCFEEAE MV
Entry Charge: Up to 2.5%
Total Expense Ratio: 2.21%
Exit Charge: None
Distribution Yield (%): N/A
Underlying Yield (%): N/A
Distribution: N/A
Total Net Assets: €6.8 m
Month end NAV in EUR: 109.64
Number of Holdings: 22
Auditors: Deloitte Malta
Legal Advisor: Ganado & Associates
Custodian: Sparkasse Bank Malta p.l.c.
% of Top 10 Holdings: 51.1

Performance To Date (EUR)

Top 10 Holdings

iShares Eurostoxx 50 De
8.2%
Lyxor ETF Eurostoxx 600 Tech Tech
6.5%
Lyxor EuroStoxx600 Healthcare
5.7%
Amazon
5.3%
L'Oreal
5.2%
Alibaba Group
4.7%
Microsoft Corp
4.5%
ASML
3.9%
Sanofi
3.7%
Mastercard
3.5%

Major Sector Breakdown

ETFs
39.4%
Information Technology
14.3%
Consumer Discretionary
11.5%
Asset 7
Communications
10.0%
Financials
9.7%
Consumer Staples
4.5%
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
30.4%
United States
16.3%
France
14.5%
Malta
13.8%
China
4.7%
Netherlands
3.8%
*including exposures to ETFs

Asset Allocation

Cash 9.1%
Equities 90.9%

Performance History (EUR)*

YTD

-10.91%

1-month

7.98%

3-month

-10.16%

6-month

-6.63%

9-month

-3.44%

Inception*

9.64%

*The Global Opportunities Fund (previously known as the Euro Equity Fund) was launched on 31 October 2013.

Currency Allocation

Euro 86.5%
USD 13.5%
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 Global Opportunities 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 Global Opportunities fund invests in Blue Chip companies trading on major world 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 Global Opportunities Funds is:

    • Seeking to achieve capital growth over time.
    • Seeking an actively managed & diversified equity portfolio in Global 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

    April 2020

    After the severe shock in March, markets rebounded strongly in April. COVID-19 continued to spread globally, but some countries saw daily new infection rates start to fall and are now planning to gradually reopen their economies. Governments and central banks introduced very significant stimulus measures to reduce the damage caused by the economic shutdown, restoring some positive sentiment to markets.

    Volatility declined from extreme levels. Developed stock markets outperformed emerging markets and growth stocks outperformed value. The S&P 500 index returned 12.8% and has recovered close to 60% of its prior decline. 

    Massive global fiscal and monetary responses fuelled a strong market rebound in April despite macroeconomic data that showed the huge economic cost of the COVID-19 shutdowns.

    Analysts revised down 2020 earnings estimates, which are now expected to decline by over 15% in the US and Europe. Dividends may also suffer cuts as companies prioritise balance sheet protection over profit distribution.

    Despite April’s market rebound, considerable uncertainty remains over the trajectory of global growth over the coming quarters. A lot will depend on the extent to which economies can successfully reopen. For this reason, the investment managers remain prudent and expect further volatility. However, they acknowledge that the unprecedented policy response – particularly the willingness of central banks to intervene in credit markets – has shifted the balance of risks.

  • 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)*

    9.64%

    *View Performance History below
    Inception Date: 01 Nov 2013
    ISIN: MT7000009031
    Bloomberg Ticker: CCFEEAE MV
    Entry Charge: Up to 2.5%
    Total Expense Ratio: 2.21%
    Exit Charge: None
    Distribution Yield (%): N/A
    Underlying Yield (%): N/A
    Distribution: N/A
    Total Net Assets: €6.8 m
    Month end NAV in EUR: 109.64
    Number of Holdings: 22
    Auditors: Deloitte Malta
    Legal Advisor: Ganado & Associates
    Custodian: Sparkasse Bank Malta p.l.c.
    % of Top 10 Holdings: 51.1

    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

    iShares Eurostoxx 50 De
    8.2%
    Lyxor ETF Eurostoxx 600 Tech Tech
    6.5%
    Lyxor EuroStoxx600 Healthcare
    5.7%
    Amazon
    5.3%
    L'Oreal
    5.2%
    Alibaba Group
    4.7%
    Microsoft Corp
    4.5%
    ASML
    3.9%
    Sanofi
    3.7%
    Mastercard
    3.5%

    Top Holdings by Country*

    Germany
    30.4%
    United States
    16.3%
    France
    14.5%
    Malta
    13.8%
    China
    4.7%
    Netherlands
    3.8%
    *including exposures to ETFs

    Major Sector Breakdown

    ETFs
    39.4%
    Information Technology
    14.3%
    Consumer Discretionary
    11.5%
    Asset 7
    Communications
    10.0%
    Financials
    9.7%
    Consumer Staples
    4.5%

    Asset Allocation

    Cash 9.1%
    Equities 90.9%

    Performance History (EUR)*

    YTD

    -10.91%

    1-month

    7.98%

    3-month

    -10.16%

    6-month

    -6.63%

    9-month

    -3.44%

    Inception*

    9.64%

    *The Global Opportunities Fund (previously known as the Euro Equity Fund) was launched on 31 October 2013.

    Currency Allocation

    Euro 86.5%
    USD 13.5%
    GBP 0.0%
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