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TCSETendercapital Secular Euro

Tendercapital Secular Euro is a long-only thematic equity fund actively managed which invests in companies across the European equity market engaged in the area of «Robotics&Automation», «Sustainable Environment», «Digital Economy» and «Healthy Living». The fund promotes environmental, social and governance (ESG) criteria through a combination of exclusion, integration of ESG parameters and active management. ESG criteria are interwined with traditional financial analysis to define the reference framework for portfolio structuring.

The Fund in a nutshell

Read more about our investment themes

ESG Report


Risk-reward profile

Achieve a positive annual return with a medium risk profile.


The month of October saw significant gains on the main European indices. The fund maintained a broad diversification, with 72 securities in portfolio. The fund continues to maintain a balanced exposure between cyclical and defensive sectors.

The fund remains most invested in industrial and consumer products, at 16% and 11%, respectively. The fund maintains a primary exposure to the small and large segments, with the latter at 56% in October, albeit down slightly compared to the previous month. The main positive contributor for the month was Zalando, which benefited from the positive market sentiment. The worst contributor is Prosus, a holding company that invests in companies related to the tech segment. The most significant holding is Tencent, a Chinese tech company. The stock was therefore negatively affected by the response of Chinese stocks following the reappointment of Xi Jinping as head of the Chinese Communist Party. However, our positive view on the stock in the medium term remains unchanged. The portfolio’s beta is stable at 0.96. In terms of secular trends, digital economy is the trend with the greatest weight in the portfolio, at 37.5%. The weight of the top ten securities is up to 38.3%. The fund maintains an ESG rating of AA, based on its MSCI score.


Europe Large-Cap Blend Equity

ISIN Code: IE00B8XC4845
Consult Monthly Factsheet


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.

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