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TCSETendercapital Secular Euro
This is a Euro denominated fund which invests primarily in European equities and provides the Client with the means of gaining exposure to the potential upside of equity markets over the medium term. The investment manager selects undervalued themes highlighted by a top-down quantitative secular analysis which then focuses on a single company and its future economic prospects, emphasizing European companies with business activities in foreign markets. The portfolio is carefully constructed piecemeal through a rigorous top-down analysis of the future demographic trends and the socio-economic-healthcare developments.
Achieve a positive annual return with a medium risk profile.
The macroeconomic environment is confirmed as positive at global level, although it is slowing down compared to 2017. The accommodating monetary policy is confirmed as a driver favourable to the Eurozone stock markets, despite the strong phase in the local currency, which is one of the factors slowing down corporate fundamentals. The worsening of geopolitical conflicts and the evolution of global trade tensions constitute the main sources of risk. In March, the fund maintained a good diversification with a total of 54 positions, increasing the liquidity buffer to roughly 12.0%, with a market hedge of 6.0%. The weight of the first ten securities in the portfolio totalled 24.7%. 48% of the fund is invested in large capitalisation companies (>5 B), 25% in Mid Caps and the remaining 27% in Small Caps (<2 B). Lastly, the exposure in foreign currencies was 8.5%, broken down into Norwegian krone, Swedish krona and dollars, without hedging against exchange rate risk. The product had an annualised volatility of 12.5% in the last month, whereas the 12-month figure rose to 10.0%. The beta of the equity component is 0.71 in the last year, confirming the defensive nature of the Secular themes. Tendercapital Secular Euro is based on 9 Secular Trends with an overweight on the themes of Infrastructure, of Renewable Energies and of Sustainable Agro Food.
Europe Large-Cap Blend Equity
ISIN Code Share Class: SECULAR EURO RETAIL ACC SHARE CLASS
ISIN Code: IE00B8XC4845
Consult Monthly Factsheet
ISIN Code Share Class: SECULAR EURO INSTITUTIONAL ACC AI SHARE CLASS
ISIN Code: IE00B8XCNZ43
DISTRIBUTION Ireland, United Kingdom, Italy, Switzerland
The KIID (Key Investment Information Document) provides you with key investor information about the funds.
The information is required by law to help you understand the nature and the risks of investing in this fund.
You are advised to read it so you can make an informed decision about whether to invest.
Please select just the KIID(s) related to your country of residence.
- FUND NAME
- TENDERCAPITAL SECULAR EURO FUND
- CLASS
- Retail
- WKN
- A1W3HE
- ISIN
- IE00B8XC4845
- NAV DATE
- 24-04-2018
- NAV PRICE
- 6.623
- NAV %
- -0.41
- FUND NAME
- TENDERCAPITAL SECULAR EURO FUND
- CLASS
- Institutional
- WKN
- A1W3HH
- ISIN
- IE00B8XCNZ43
- NAV DATE
- 24-04-2018
- NAV PRICE
- 6.914
- NAV %
- -0.39
Funds Documents
Full Prospectus
[1] Distributors marked with [1] act as sub-distributors on behalf of Allfunds Bank S.A., which serves as primary distributor (without exclusive agreement) of Tendercapital Funds plc’s shares in Italy, with option to make use of sub-distributors.
[2] Distributors marked with [2] act as sub-distributors on behalf of Online Sim SpA, which serves as primary distributor (without exclusive agreement) of Tendercapital Funds plc’s shares in Italy, with option to make use of sub-distributors.