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

November 2020

November will likely be marked as a turning point in the markets for 2020. The announcement of three vaccines that are effective against the virus drove a risk-on mood in markets and added fuel to the post-US election rally, eclipsing worries about the near-term economic outlook. Equity markets cheered the light at the end of the tunnel, with this year’s biggest losers gaining the most in November: MSCI Europe ex-UK and FTSE All-Share indices returned 14.2% and 12.7%, respectively. The year-to-date star performers, Asia ex-Japan and the US, still made impressive monthly gains of 8.0% and 11.0%. Global value stocks returned 15.1%, outperforming growth, which returned 10.9%.

An end to the Covid-19 crisis is now in sight, but the path to recovery may still be bumpy over the coming quarters as governments grapple to control the virus, particularly as seasonal factors make this more difficult through the winter period. In Europe, significant restrictions to curb the spread of the virus look to have been effective, with new infections now falling sharply from their latest peak. In the US, the situation has continued to escalate, with new cases continuing to rise and deaths following. High-frequency activity data shows the stark effect that the restrictions in Europe have had in slowing the economy. The question now is whether Europe is once again a bellwether for the US, and whether new restrictions and therefore a decline in services activity will be needed to contain the virus there.

In any case, markets are likely to digest near-term economic developments in the context of better times on the horizon, just as they did this month.

 

As the positive news surrounding the vaccine emerged, uncertainty around the length of the Covid-19 crisis is beginning to fade, which in turn is brightening the outlook for risk assets – despite the difficult winter ahead for the economy.

Within equities, the outperformance this month of this year’s losers makes sense, with a return to normality now on the horizon. As the economic recovery plays out, earnings expectations should continue to recover providing continued support for equities.

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)

N/A

ASSET CLASS

Equity

MIN. INITIAL INVESTMENT

€100000

FUND TYPE

UCITS

BASE CURRENCY

EUR

RETURN (SINCE INCEPTION)*

N/A

Inception Date: 05 Feb 2020
ISIN: MT7000026506
Bloomberg Ticker: CCFEEBE MV
Entry Charge: Up to 2.5%
Total Expense Ratio: 1.60%
Exit Charge: None
Distribution Yield (%): N/A
Underlying Yield (%): N/A
Distribution: N/A
Total Net Assets: €7.3 mn
Month end NAV in EUR: 121.33
Number of Holdings: 31
Auditors: Deloitte Malta
Legal Advisor: Ganado & Associates
Custodian: Sparkasse Bank Malta p.l.c.
% of Top 10 Holdings: 54.39

Performance To Date (EUR)

Top 10 Holdings

iShares MSCI World Min Vol
8.7%
Lyxor STOXX Europe 600 Industrials
8.0%
L'Oreal SA
5.9%
iShares MSCI World UCITS ETF
5.6%
Alibaba
5.4%
Microsoft Corp
4.4%
iShares S&P 500 Financials
4.4%
iShares Core S&P 500
4.2%
Mastercard
3.9%
Lyxor STOXX Europe600 Healthcare
3.9%

Major Sector Breakdown

ETFs
50.4%
Information Technology
19.8%
Consumer Discretionary
14.3%
Industrials
12.2%
Financials
10.6%
Consumer Staples
8.1%
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*

France
13.4%
United States
11.3%
Germany
5.8%
China
5.4%
Netherlands
3.8%
Malta
1.7%
Great Britain
1.2%
*including exposures to ETFs

Asset Allocation

Cash 3.1%
Equities 46.5%
ETF 50.4%

Performance History (EUR)*

YTD

-3.87%

1-month

7.59%

3-month

0.21%

6-month

8.32%

9-month

6.59%

Annualised Since Inception*

-3.87%

*The Global Opportunities Fund (previously known as the Euro Equity Fund) Institutional Share Class was launched on 5 February 2020.

Currency Allocation

Euro 486%
USD 48.7%
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

    November 2020

    November will likely be marked as a turning point in the markets for 2020. The announcement of three vaccines that are effective against the virus drove a risk-on mood in markets and added fuel to the post-US election rally, eclipsing worries about the near-term economic outlook. Equity markets cheered the light at the end of the tunnel, with this year’s biggest losers gaining the most in November: MSCI Europe ex-UK and FTSE All-Share indices returned 14.2% and 12.7%, respectively. The year-to-date star performers, Asia ex-Japan and the US, still made impressive monthly gains of 8.0% and 11.0%. Global value stocks returned 15.1%, outperforming growth, which returned 10.9%.

    An end to the Covid-19 crisis is now in sight, but the path to recovery may still be bumpy over the coming quarters as governments grapple to control the virus, particularly as seasonal factors make this more difficult through the winter period. In Europe, significant restrictions to curb the spread of the virus look to have been effective, with new infections now falling sharply from their latest peak. In the US, the situation has continued to escalate, with new cases continuing to rise and deaths following. High-frequency activity data shows the stark effect that the restrictions in Europe have had in slowing the economy. The question now is whether Europe is once again a bellwether for the US, and whether new restrictions and therefore a decline in services activity will be needed to contain the virus there.

    In any case, markets are likely to digest near-term economic developments in the context of better times on the horizon, just as they did this month.

     

    As the positive news surrounding the vaccine emerged, uncertainty around the length of the Covid-19 crisis is beginning to fade, which in turn is brightening the outlook for risk assets – despite the difficult winter ahead for the economy.

    Within equities, the outperformance this month of this year’s losers makes sense, with a return to normality now on the horizon. As the economic recovery plays out, earnings expectations should continue to recover providing continued support for equities.

  • 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)

    N/A

    ASSET CLASS

    Equity

    MIN. INITIAL INVESTMENT

    €100000

    FUND TYPE

    UCITS

    BASE CURRENCY

    EUR

    RETURN (SINCE INCEPTION)*

    N/A

    Inception Date: 05 Feb 2020
    ISIN: MT7000026506
    Bloomberg Ticker: CCFEEBE MV
    Entry Charge: Up to 2.5%
    Total Expense Ratio: 1.60%
    Exit Charge: None
    Distribution Yield (%): N/A
    Underlying Yield (%): N/A
    Distribution: N/A
    Total Net Assets: €7.3 mn
    Month end NAV in EUR: 121.33
    Number of Holdings: 31
    Auditors: Deloitte Malta
    Legal Advisor: Ganado & Associates
    Custodian: Sparkasse Bank Malta p.l.c.
    % of Top 10 Holdings: 54.39

    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 MSCI World Min Vol
    8.7%
    Lyxor STOXX Europe 600 Industrials
    8.0%
    L'Oreal SA
    5.9%
    iShares MSCI World UCITS ETF
    5.6%
    Alibaba
    5.4%
    Microsoft Corp
    4.4%
    iShares S&P 500 Financials
    4.4%
    iShares Core S&P 500
    4.2%
    Mastercard
    3.9%
    Lyxor STOXX Europe600 Healthcare
    3.9%

    Top Holdings by Country*

    France
    13.4%
    United States
    11.3%
    Germany
    5.8%
    China
    5.4%
    Netherlands
    3.8%
    Malta
    1.7%
    Great Britain
    1.2%
    *including exposures to ETFs

    Major Sector Breakdown

    ETFs
    50.4%
    Information Technology
    19.8%
    Consumer Discretionary
    14.3%
    Industrials
    12.2%
    Financials
    10.6%
    Consumer Staples
    8.1%

    Asset Allocation

    Cash 3.1%
    Equities 46.5%
    ETF 50.4%

    Performance History (EUR)*

    YTD

    -3.87%

    1-month

    7.59%

    3-month

    0.21%

    6-month

    8.32%

    9-month

    6.59%

    Annualised Since Inception*

    -3.87%

    *The Global Opportunities Fund (previously known as the Euro Equity Fund) Institutional Share Class was launched on 5 February 2020.

    Currency Allocation

    Euro 486%
    USD 48.7%
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