Fund performance

Annual performance
Perinvest Harbour US Equity A USD

Evolution of the annual performance of Perinvest Harbour US Equity A USD

Evolution of the NAV (Net Asset Value) of Perinvest Harbour US Equity A USD

Latest NAV in USD
(16-11-2018)
191,07

Cumulative returns
as of 16-11-2018

YTD -5,57%
1 year -0,60%

Annualized returns as of 16-11-2018

3 years 11,35%
5 years 7,68%
Origin* 8,50%

* from launch date of the sub-fund (2010).

Past performance is no guarantee of future performance.

Source: Banque Degroof Petercam Luxembourg and Bloomberg for the period 2010 - 2018

The returns are calculated in the reference currency: USD (returns in EUR can go up or down depending on exchange rate fluctuations). The historical performance in EUR was negatively affected by exchange rate fluctuations.

The returns are calculated in the reference currency of the share class, reflect ongoing charges, including management and performance fees, taken from the sub-fund, but do not reflect any entry charges you might have to pay.

The calculations of yields are based on the historical NAVs which are consultable in the newspapers l'Echo or De Tijd.

General information

Name of fund Perinvest (Lux) SICAV
Name of sub-fund Harbour US Equity
Type of product/ legal form/ applicable duty and applicable duration UCITS sub fund, being a SICAV under Luxembourg Law with undefinite end
Share class A USD
Dividend policy Capitalisation
Launch date 2010
ISIN code LU0564489937
Minimum initial inv. $100
Type of fund UCITS
Liquidity Daily
Domicile Luxembourg
Type of investor All investors
Management fee 1.50%
Performance fee 20% High Watermark
Entry fee* Max. 5%
Ongoing charges (as of 31/12/17) 1,92%
Stock exchange transaction tax at redemption (or conversion) in Belgium 1,32% (max 4.000 EUR)
Belgian tax on savings (Belgian withholding tax at redemption) N/A
Belgian withholding tax on dividends N/A

 

Risk and Reward Profile

1 2 3 4 5 6 7

Lower risk (but not risk-free)

Potentially lower reward

Higher risk


Potentially higher reward

For more information about the fund’s risk/reward profile see the latest KIID and prospectus.

* There are no entry fees for subscription to actively managed funds through a discretionary management mandate, investment advice mandate or reception and transmission of client orders mandate signed with TreeTop Asset Management Belgium.

Mediation service
For complaints relating to investment products and services - address your concern to the financial sector Ombudsman: Banks – Credits - Investments Mediation Service, North Gate II, Avenue Roi Albert II 8 B-1000 Brussels (www.ombudsfin.be or [email protected]).
The mediation service may suggest solutions for resolving the dispute. In the event of a lack of mutual acceptance of the proposed solutions, either party can turn to the competent courts.

Handling of client complaints
Send your complaint, in writing, to the attention of the “Compliance Officer”, at the following address: TreeTop Asset Management Belgium, rue des Francs, 79, 1040 Brussels.
We will send you an acknowledgement of receipt within 5 working days. We will analyze your complaint and give a detailed response in the month following its receipt, provided that the complaint is complete and specific.

 

Documents

It is essential to read and aknowledge the fund information documents before subscribing. The KIID, prospectus and the last annual and semi annual reports are at your disposal.

The NAVs of the sub­fund are also published in the newspapers l'Echo or De Tijd.

You can obtain additional information on this fund, including the prospectus, the latest annual report, any later semi-annual report and the most recent price of the shares from the fund management company established at 12, rue Eugène Ruppert, L-2453 Luxembourg. They are available free of charge in English, French and Dutch.

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Ann. Perf.
2018 -0,88% -1,90% -4,69% 0,55% 5,96% -0,82% 1,90% 5,60% -0,91% -11,17% - - -5,57% (YTD)
2017 0,72% 4,40% 1,86% 1,88% -0,71% 0,34% 3,03% 1,12% 2,70% 2,27% 4,15% 2,22% 26,90%
2016 -13,12% 5,66% 5,16% 2,48% -0,85% 0,07% 8,38% 1,82% 0,91% -0,84% 5,53% 1,07% 16,10%
2015 -1,07% 4,17% -2,28% -0,41% -0,34% -3,03% -0,36% -6,04% -6,49% 8,58% 1,61% -4,16% -10,30%
2014 -1,38% 3,37% 0,48% -0,49% 4,07% 2,27% -3,17% 3,62% -2,14% 2,33% 4,47% -0,20% 12,30%
2013 2,63% 0,64% 2,84% 0,70% 4,48% -1,92% 4,20% -2,74% 3,90% 3,07% 0,65% 1,44% 22,00%
2012 8,30% 1,73% 1,04% 1,01% -6,75% 3,46% 0,54% 2,12% -0,62% -0,82% 1,64% 2,58% 14,50%
2011 2,02% 1,38% 0,11% 2,64% -0,16% -1,56% -1,48% -8,06% -10,31% 13,48% 0,37% -0,36% -3,70%
2010 - - - - - - - - - - - 1,23% 1,20%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Perf. Ann.
2018 200,54 196,72 187,49 188,53 199,76 198,13 201,90 213,20 211,25 187,66 - - -5,57% (YTD)
2017 160,89 167,97 171,10 174,32 173,09 173,68 178,95 180,96 185,84 190,05 197,94 202,33 26,90%
2016 120,04 126,84 133,38 136,69 135,53 135,63 147,00 149,68 151,04 149,77 158,05 159,74 16,10%
2015 152,37 158,73 155,11 154,47 153,94 149,27 148,73 139,74 130,67 141,88 144,16 138,16 -10,30%
2014 133,64 138,15 138,81 138,13 143,75 147,02 142,36 147,51 144,36 147,72 154,33 154,02 12,30%
2013 114,52 115,25 118,52 119,35 124,70 122,30 127,44 123,95 128,78 132,73 133,59 135,51 22,00%
2012 105,57 107,40 108,52 109,62 102,22 105,76 106,33 108,58 107,91 107,03 108,78 111,59 14,50%
2011 103,27 104,69 104,81 107,58 107,41 105,73 104,16 95,76 85,89 97,47 97,83 97,48 -3,70%
2010 - - - - - - - - - - - 101,23 1,20%

Fund strategy

The Fund aims to maximize the return on your investment over the medium to long term. Under normal conditions, the Sub-Fund mainly invests in shares from companies in the US. The Sub-Fund may use derivatives to reduce its exposure to various investment risks (hedging) and for efficient portfolio management, but not to directly seek investment gains. The investment manager uses economic data, onsite visits and management calls to determine the level of investment in companies that appear to have the potential for growth.

Fund Manager

Charles A. Paquelet

The Fund seeks to produce an attractive absolute and relative return over time by employing the following strategy:

- Investing primarily in U.S. common stocks
- Performing extensive due diligence on the majority of portfolio holdings, including on-site meetings with management
- Evaluating companies based on growth prospects, valuation, sustainable competitive advantages, balance sheet strength and management assessment
- Trading around core holdings by adjusting position sizes based on recent price fluctuations
- Raising cash to protect capital when market conditions are unfavorable
- Focusing the investments in liquid securities that have market quotes
- Investing in fixed income securities from time to time
- In addition to the foregoing, the Fund has the flexibility to invest in non-U.S. securities and use options and/or futures contracts.

The Manager follows internal guidelines and takes responsibility for adhering to risk controls. In addition, Perinvest UK and Degroof Petercam Asset Services monitor the portfolio to ensure the Fund complies with all relevant regulations.

Main risk factors defining the risk level

The risk/reward rating of the Fund reflects the following factors: (i) it is invested in shares which carry higher risks than bonds or money market instruments and (ii) the Fund focuses on a single geographical region.

Other risks to be considered

Moreover, it can be exposed to unusual market conditions which could trigger other risks: counterparty risk (the Fund could lose money if an entity with which it does business becomes unwilling or unable to honor its commitments), default risk (the issuers of certain bonds could become unable to make payments on their bonds), derivatives risk (certain derivatives could increase the volatility or expose the Fund to losses greater than the cost of the derivative), focus risk (to the extent that the fund has exposure to an area that is heavily affected by an adverse event, its value may fall), liquidity risk (certain securities could become hard to value, or to sell at a desired time and price) and management risk (portfolio management techniques that have worked well in normal market conditions could prove ineffective or detrimental during unusual conditions) and operational risk (in any market, but especially in emerging markets, the Fund could lose some or all of its investments through fraud, corruption, political or military actions, the seizure of assets, or other irregular events).

Portfolio allocation

Geographic spread

Top 10 sorted by underlying

Description Weight (% NAV)
Total 53,0%
Apple 9,1%
Union Pacific 7,1%
Arch Coal 6,8%
Coherent 6,5%
Beacon Roofing Supply 4,5%
Visa Inc-Class A 4,4%
Intercontinental Exchange 3,8%
CME Group 3,7%
Verso Corp. 3,6%
MKS Instruments 3,5%

Type of securities

Sector breakdown by underlying value

Equity Play / Yield Play

Top 5 convertible bonds

Top 5 equities

Top 10 by instrument

Description Weight (% NAV)
Total 53,0%
Apple 9,1%
Union Pacific 7,1%
Arch Coal 6,8%
Coherent 6,5%
Beacon Roofing Supply 4,5%
Visa Inc-Class A 4,4%
Intercontinental Exchange 3,8%
CME Group 3,7%
Verso Corp. 3,6%
MKS Instruments 3,5%

Market capitalisation

Evolution of ratios

* Before 30/06/2006, these data are issued from underlying stocks of the SICAV TreeTop Convertible International.

Other statistics