Fund performance
Annual performance
TreeTop Convertible International AH EUR
Evolution of the annual performance of TreeTop Convertible International AH EUR vs MSCI AC World(1)
(1) MSCI All Countries World Index Net Dividend Reinvested in local currency. The fund is actively managed and its portfolio differs from the index mentioned. Consequently, the performance of the fund will differ from the performance of the index.
Evolution of the NAV (Net Asset Value) of TreeTop Convertible International AH EUR vs MSCI AC World(1)
(1) MSCI All Countries World Index Net Dividend Reinvested in local currency. The fund is actively managed and its portfolio differs from the index mentioned. Consequently, the performance of the fund will differ from the performance of the index.
Latest NAV in EUR
(21-02-2019) |
256,98 |
---|
Cumulative returns
as of 21-02-2019
Fund | MSCI AC World (1) | |
---|---|---|
YTD | 7,47% | 10,40% |
1 year | -22,91% | 1,57% |
Annualized returns as of 21-02-2019
Fund | MSCI AC World (1) | |
---|---|---|
3 years | -1,02% | 12,92% |
5 years | -1,63% | 8,17% |
10 years | 7,81% | 12,60% |
Origin* | 7,98% | 6,79 % |
* from launch date of the sub-fund (1988).
Past performance is no guarantee of future performance.
Source: Degroof Petercam Asset Services and Bloomberg for the period 1988 - 2019
The returns are calculated in the reference currency:
EUR.
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 | TreeTop Convertible SICAV |
---|---|
Name of sub-fund | TreeTop Convertible International |
Type of product/ legal form/ applicable duty and applicable duration | UCITS sub fund, being a SICAV under Luxembourg Law with undefinite end |
Share class | AH EUR |
Dividend policy | Capitalisation |
Launch date | 1988 |
ISIN code | LU0012006317 |
Minimum initial inv. | €250 |
Type of fund | UCITS |
Liquidity | Daily |
Domicile | Luxembourg |
Type of investor | All investors |
Management fee | 1.20% |
Performance fee | 12% High Watermark |
Entry fee | 0% |
Ongoing charges (as of 31/12/17) | 1,55% |
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) | 30% |
Belgian withholding tax on dividends | N/A |
Risk and Reward Profile
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.
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. | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2019 | 3,64% | - | - | - | - | - | - | - | - | - | - | - | 7,47% (YTD) |
2018 | 7,47% | -2,94% | -5,92% | -0,20% | -0,02% | -3,31% | 1,44% | -2,54% | -4,24% | -10,65% | -2,60% | -3,97% | -25,09% |
2017 | 3,68% | 4,31% | 6,28% | -0,08% | 0,41% | -1,13% | 1,60% | -1,22% | 1,38% | 0,36% | -2,78% | 2,93% | 16,51% |
2016 | -10,05% | -1,04% | 3,61% | -1,65% | 2,27% | -5,30% | 5,60% | 0,53% | -1,51% | -1,25% | 0,64% | -0,37% | -9,05% |
2015 | 1,23% | 1,69% | 1,70% | 1,32% | 0,82% | -3,15% | 0,78% | -4,91% | -2,34% | 7,53% | 0,83% | -3,38% | 1,56% |
2014 | -0,77% | 4,39% | -0,48% | -0,25% | 1,93% | 0,59% | 1,42% | 1,91% | -1,39% | 0,66% | 1,32% | -0,40% | 9,17% |
2013 | 1,21% | 1,04% | 1,36% | 0,69% | 2,43% | -2,96% | 2,84% | 0,43% | 2,46% | 3,94% | 3,41% | 1,71% | 20,03% |
2012 | 7,33% | 2,84% | 0,66% | 0,68% | -5,28% | 2,20% | 2,78% | 0,50% | 1,96% | -0,38% | 1,37% | 3,52% | 19,22% |
2011 | -0,04% | 0,30% | 5,82% | 3,03% | -0,08% | -2,11% | -1,03% | -9,04% | -7,27% | 8,55% | -6,69% | 0,48% | -9,18% |
2010 | -0,14% | 0,17% | 6,34% | 2,31% | -7,59% | -0,11% | 6,10% | -0,41% | 5,64% | 4,14% | -1,69% | 0,35% | 15,21% |
2009 | 0,12% | -2,41% | 6,08% | 13,39% | 7,28% | -1,82% | 8,88% | 4,43% | 3,48% | -1,55% | 0,07% | 3,48% | 49,49% |
2008 | -10,81% | 2,42% | -4,76% | 8,82% | 2,02% | -4,17% | -4,90% | -2,41% | -15,78% | -14,36% | -5,96% | 1,30% | -41,19% |
2007 | -0,70% | -0,16% | 0,63% | 5,57% | 7,66% | -2,32% | 0,84% | -2,27% | 4,26% | -0,62% | -4,28% | 2,33% | 10,10% |
2006 | 7,17% | -1,34% | 1,37% | 5,97% | -6,05% | -2,94% | -1,71% | 0,95% | -0,27% | 2,08% | 0,15% | -1,61% | 3,09% |
2005 | -0,52% | 4,81% | 1,11% | -2,04% | 4,66% | 0,15% | 7,62% | -0,10% | 7,71% | -4,26% | 6,05% | 3,45% | 31,67% |
2004 | 6,54% | 1,50% | 0,79% | 2,79% | -4,37% | 1,61% | -2,61% | 2,41% | 1,85% | -1,82% | 6,00% | 2,66% | 18,16% |
2003 | -1,76% | -0,55% | 0,47% | 1,67% | 1,92% | 2,93% | 1,02% | 3,66% | 1,76% | 4,45% | -1,16% | 2,94% | 18,58% |
2002 | 0,19% | 1,22% | 3,36% | 3,79% | -2,62% | -3,81% | -3,02% | 1,73% | -1,15% | 0,63% | 1,78% | -2,85% | -1,12% |
2001 | 0,24% | 0,92% | -0,57% | 3,35% | 4,35% | -1,18% | -3,03% | 1,48% | -6,50% | 4,66% | 0,20% | 0,39% | 3,85% |
2000 | 1,41% | 6,09% | 5,99% | -2,65% | -4,80% | 5,03% | 0,20% | 1,49% | -4,48% | -2,09% | -0,28% | 1,50% | 6,84% |
1999 | 2,76% | 0,40% | 0,97% | 9,38% | -6,54% | 15,04% | 3,52% | 1,92% | -2,01% | 0,07% | 8,10% | 6,39% | 45,76% |
1998 | 1,06% | 6,38% | 5,28% | -1,26% | 2,54% | -3,08% | 2,59% | -6,19% | -6,12% | -0,29% | 6,11% | 3,64% | 10,03% |
1997 | 3,56% | 3,27% | -1,92% | -0,59% | 4,58% | 2,60% | 5,79% | -2,40% | -2,37% | -4,32% | -3,24% | -2,04% | 2,27% |
1996 | 2,49% | 0,66% | 1,41% | 2,83% | 0,00% | -0,36% | -2,81% | 1,98% | 0,65% | 0,97% | 2,13% | -0,20% | 10,05% |
1995 | -2,19% | 1,16% | -0,30% | 0,74% | 2,60% | 0,92% | 1,83% | 1,61% | 0,27% | -0,17% | -1,10% | 0,94% | 6,38% |
1994 | 2,10% | -3,99% | -5,43% | 0,48% | 0,24% | -2,87% | 3,06% | -0,42% | -1,12% | -1,70% | -1,79% | -1,81% | -12,75% |
1993 | 4,30% | 1,46% | 2,27% | 1,90% | 2,70% | 3,63% | 3,37% | 5,78% | 0,61% | 7,37% | 5,27% | 9,25% | 59,44% |
1992 | 4,57% | 1,86% | 0,18% | 2,27% | 0,96% | -1,43% | -2,21% | -0,98% | 2,48% | 1,83% | 1,70% | 2,31% | 14,19% |
1991 | -0,33% | 5,39% | 3,75% | 2,40% | 0,85% | 0,53% | 2,62% | 1,69% | 2,55% | 0,04% | -0,24% | 1,72% | 22,92% |
1990 | 1,97% | -0,54% | -2,46% | 1,24% | 6,50% | 2,83% | 0,54% | -4,99% | -4,89% | 0,41% | 1,06% | 0,18% | 1,30% |
1989 | 3,03% | -0,83% | -0,76% | -1,13% | 2,36% | -2,62% | 2,53% | 2,43% | 2,91% | -5,74% | -2,56% | -2,74% | -3,52% |
1988 | - | - | - | - | - | - | 3,11% | -1,46% | -0,60% | 0,20% | -2,02% | 1,06% | 0,20% |
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Perf. Ann. | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2019 | 247,83 | - | - | - | - | - | - | - | - | - | - | - | 7,47% (YTD) |
2018 | 343,06 | 332,96 | 313,25 | 312,62 | 312,55 | 302,19 | 306,55 | 298,77 | 286,11 | 255,65 | 249,00 | 239,12 | -25,09% |
2017 | 284,06 | 296,31 | 314,91 | 314,66 | 315,96 | 312,38 | 317,38 | 313,52 | 317,85 | 319,01 | 310,14 | 319,22 | 16,51% |
2016 | 270,97 | 268,14 | 277,81 | 273,23 | 279,44 | 264,64 | 279,47 | 280,95 | 276,70 | 273,25 | 275,00 | 273,99 | -9,05% |
2015 | 300,27 | 305,33 | 310,52 | 314,63 | 317,21 | 307,22 | 309,63 | 294,43 | 287,55 | 309,19 | 311,77 | 301,24 | 1,56% |
2014 | 269,63 | 281,46 | 280,12 | 279,43 | 284,82 | 286,50 | 290,58 | 296,12 | 291,99 | 293,91 | 297,80 | 296,62 | 9,17% |
2013 | 229,12 | 231,50 | 234,66 | 236,28 | 242,02 | 234,85 | 241,52 | 242,57 | 248,53 | 258,33 | 267,14 | 271,71 | 20,03% |
2012 | 203,80 | 209,59 | 210,98 | 212,41 | 201,20 | 205,62 | 211,33 | 212,39 | 216,56 | 215,73 | 218,68 | 226,37 | 19,22% |
2011 | 208,98 | 209,61 | 221,80 | 228,51 | 228,33 | 223,51 | 221,20 | 201,21 | 186,59 | 202,54 | 188,98 | 189,88 | -9,18% |
2010 | 181,22 | 181,53 | 193,04 | 197,49 | 182,50 | 182,30 | 193,42 | 192,63 | 203,50 | 211,93 | 208,35 | 209,07 | 15,21% |
2009 | 122,35 | 119,40 | 126,66 | 143,62 | 154,07 | 151,27 | 164,71 | 172,00 | 177,99 | 175,23 | 175,36 | 181,47 | 49,49% |
2008 | 184,67 | 189,14 | 180,14 | 196,02 | 199,97 | 191,63 | 182,24 | 177,84 | 149,77 | 128,27 | 120,63 | 122,20 | -41,19% |
2007 | 185,56 | 185,26 | 186,43 | 196,82 | 211,89 | 206,98 | 208,72 | 203,99 | 212,69 | 211,37 | 202,33 | 207,05 | 10,10% |
2006 | 194,88 | 192,27 | 194,90 | 206,54 | 194,05 | 188,35 | 185,13 | 186,88 | 186,37 | 190,24 | 190,53 | 187,47 | 3,09% |
2005 | 137,39 | 144,00 | 145,60 | 142,63 | 149,28 | 149,51 | 160,91 | 160,75 | 173,14 | 165,76 | 175,79 | 181,85 | 31,67% |
2004 | 124,52 | 126,39 | 127,39 | 130,95 | 125,23 | 127,25 | 123,93 | 126,92 | 129,27 | 126,92 | 134,53 | 138,11 | 18,16% |
2003 | 96,84 | 96,31 | 96,76 | 98,38 | 100,27 | 103,21 | 104,26 | 108,08 | 109,98 | 114,87 | 113,54 | 116,88 | 18,58% |
2002 | 99,87 | 101,09 | 104,49 | 108,45 | 105,61 | 101,59 | 98,52 | 100,22 | 99,07 | 99,69 | 101,46 | 98,57 | -1,12% |
2001 | 96,23 | 97,11 | 96,56 | 99,80 | 104,14 | 102,91 | 99,79 | 101,27 | 94,69 | 99,10 | 99,30 | 99,69 | 3,85% |
2000 | 91,11 | 96,66 | 102,44 | 99,73 | 94,94 | 99,72 | 99,92 | 101,40 | 96,86 | 94,83 | 94,57 | 95,99 | 6,84% |
1999 | 63,34 | 63,59 | 64,21 | 70,23 | 65,63 | 75,50 | 78,16 | 79,66 | 78,06 | 78,12 | 84,45 | 89,85 | 45,76% |
1998 | 56,62 | 60,23 | 63,41 | 62,61 | 64,20 | 62,22 | 63,83 | 59,88 | 56,21 | 56,05 | 59,48 | 61,64 | 10,03% |
1997 | 56,72 | 58,58 | 57,45 | 57,11 | 59,73 | 61,28 | 64,82 | 63,27 | 61,77 | 59,11 | 57,19 | 56,02 | 2,27% |
1996 | 51,01 | 51,35 | 52,07 | 53,55 | 53,55 | 53,35 | 51,85 | 52,88 | 53,23 | 53,74 | 54,89 | 54,78 | 10,05% |
1995 | 45,76 | 46,29 | 46,15 | 46,49 | 47,70 | 48,14 | 49,02 | 49,81 | 49,94 | 49,86 | 49,31 | 49,77 | 6,38% |
1994 | 54,75 | 52,56 | 49,71 | 49,95 | 50,07 | 48,63 | 50,12 | 49,91 | 49,36 | 48,52 | 47,65 | 46,79 | -12,75% |
1993 | 35,08 | 35,59 | 36,40 | 37,09 | 38,09 | 39,48 | 40,81 | 43,16 | 43,43 | 46,63 | 49,08 | 53,62 | 59,44% |
1992 | 30,80 | 31,37 | 31,43 | 32,14 | 32,45 | 31,99 | 31,28 | 30,97 | 31,74 | 32,33 | 32,87 | 33,63 | 14,19% |
1991 | 23,88 | 25,17 | 26,11 | 26,74 | 26,97 | 27,11 | 27,82 | 28,29 | 29,01 | 29,02 | 28,95 | 29,45 | 22,92% |
1990 | 24,12 | 23,99 | 23,40 | 23,69 | 25,23 | 25,94 | 26,08 | 24,78 | 23,57 | 23,67 | 23,92 | 23,96 | 1,30% |
1989 | 25,26 | 25,05 | 24,86 | 24,58 | 25,16 | 24,50 | 25,12 | 25,73 | 26,48 | 24,96 | 24,32 | 23,65 | -3,52% |
1988 | - | - | - | - | - | - | 25,23 | 24,86 | 24,71 | 24,76 | 24,26 | 24,52 | 0,20% |
Fund strategy
The sub-fund aims to increase the value of your investment over the long term.
Under normal market conditions, the main part of the portfolio is invested in convertible bonds and/or other fixed income securities, bank deposits and warrants or call options on shares and, up to 10% of the sub-fund's assets in units of undertakings for collective investment that represent these asset classes. The sub-fund may also invest in shares or other instruments equivalent to shares and use derivatives for investment purposes or to reduce investment risks (hedging).
The fund manager selects - based on criteria such as product innovation, quality of management, sector leadership, valuation - companies around the world that appear to offer solid growth prospects or whose securities seem to him undervalued. The sub-fund invests in a concentrated portfolio made of shares of these companies and/or in financial instruments convertible in shares or entitling the sub- fund to acquire shares of these companies. The main part of the portfolio is managed in an endeavour to replicate the financial behaviour of a convertible bonds portfolio. To this end, the fund manager ensures that (i) at least 50% of the portfolio is invested in bonds or other fixed income instruments and (ii) the global exposure of the sub-fund to the equity market, through shares and other financial instruments whose value is linked to shares, shall not exceed 100% of the sub-fund's net asset. The manager's objective is to hedge positions in currencies other than the euro which represent more than 2.5% of the net asset value of the share class.
The MSCI All Country World index provides a reference of the investment universe of the fund manager. It is provided for information purpose only as indeed the sub-fund is managed on a discretionary basis and its portfolio will show a significant departure from the index.
The sub-fund may not be appropriate for investors who plan to withdraw their money within 5 years.
This share class does not distribute dividends (meaning that any income earned by the sub-fund is added to the share price).
You can place orders to buy or sell shares of the sub-fund daily.
These objectives as well as the investment policy are an exact copy of those indicated in the corresponding KIID.
Fund Manager

To be successful, a team of financial managers must maintain a rigorous process in selecting investments. Here are the principal selection criteria employed:
Leading companies
Investing is, above all, participating as a shareholder in a company's future. Most of the future profits depend on the company’s management vision and on its capacity to adapt. This management vision must be coupled with an operational aspect of management, which we verify both in terms of growth (turnover, profits, investments, market share…) as well as profitability (profit margins, return on equity…).
Growth sectors
All sectors are subject to change and thus to cycles. Timely detection of the catalysts of these changes is important: innovation in products or in habits of consumption, economies of scale leading to the consolidation of a sector through mergers or acquisitions, the presence of high barriers to entry… Conversely, it is as important to react quickly to sectors maturing or becoming too competitive.
Inexpensive valuation
A recognized company in a growth sector is generally expensive… we must keep in mind that investing in stocks is buying a future stream of profits and dividends that are basically forecast by taking into account interest rates and risk premiums. In general, outperformance is achieved when we buy this estimated stream cheaply and then sell when it becomes expensive. To detect the beginnings and endings of sectoral cycles before others do requires strong anticipatory abilities.
Fundamental momentum
Earnings growth and changes in growth rates are key figures in calculating the actual value of future dividend flows. The value of a stock with an estimated earnings per share growth rate of 10% per year, should double when the estimated growth rate increases to 15% per year for a certain period.
It is thus very important to correctly predict changes in corporate earnings growth.
Technical momentum
A stock chart indicates a price trend. In absolute terms, it reflects what investors expect for any stock over a period of time. This trend is also interesting in relative terms (in relation to competing companies or indices) because it gives an idea of how the market perceives the company, independently of the short-term market direction. Finally, a stock chart can alert the manager when there is a glaring discrepancy with the direction of the fundamentals published by the company.
Investing means taking a gamble on the future.
In addition to errors of judgement, numerous uncontrollable events of a political (political crisis, war…) economic, financial (banking crisis, change in monetary policy…) or technological nature (discovery leading to profound changes…) or risks specific to each company (strategic error, competitive changes…) can transform a potentially attractive investment into a true nightmare.
The methods generally used to assess the risk of a portfolio are based essentially on the analysis of the volatility of the securities relative to the indices. By trying to minimize deviations from the indices, we inevitably get the performance of the latter, diminished by management costs without regard to the absolute performance of the funds managed.
We resolutely take issue with this approach, given that the true risk of the portfolio is to lose money in the medium term, and believe that it is better to incur higher volatility if this is the condition required to obtain a positive performance over the medium term.
The concept of emerging markets well illustrates this over the last ten years: many managers only allocated them a very small proportion of their portfolios because they were more volatile, thus depriving themselves of a major contribution to the performance of the funds managed.
The principal way to efficiently reduce risk is geographic and sectoral diversification, which we selectively practice, because dispersion over too many securities penalizes performance. The following limits set by the managers are objectives, which can be exceeded occasionally, depending on market developments.
Portfolio concentration
The sub-fund invests in a concentrated portfolio.
Sectoral diversification
The fund manager invests opportunistically without any sector allocation constraints.
Geographical diversification
The fund manager invests globally without any geographical allocation constraints.
Preservation of capital
The fund manager ensures that (i) at least 50% of the portfolio is invested in bonds or other fixed income instruments and (ii) the global exposure of the fund to the equity market, through shares and other financial instruments whose value is linked to shares, shall not exceed 100% of the fund’s net asset.
Hedging of currency risk
We believe that betting on currencies is risky and generally destroys shareholders’ value on the long term. Our added value lies in the selection of promising stocks and the management of equity risk. For the sake of transparency, to bring performance and to simplify our management process, the manager's objective is to hedge positions in currencies other than the Euro which represent more than 2.5% of the net asset value of the share class.
Main risk factors defining the risk level
The sub-fund does not offer either protection or any capital guarantee or a guaranteed yield. The risk/reward rating of the sub-fund reflects the following factors: 1) it invests in shares and/or other instruments such as warrants or call options on shares and convertible bonds whose value is linked to shares, 2) it may invest in a limited number of securities, 3) it may invest a part of its portfolio in warrants or call options on shares that are more volatile than shares and may loose their value at expiry date, and 4) it may favor particular economic sectors or regions, including emerging markets.
Other risks to be considered
Moreover, it is also exposed to the following risks: liquidity (convertible bonds may become hard to value or to sell at a desired price and time), default (an issuer’s bonds could become worthless if it is unable to repay its debts), counterparty (the sub-fund could lose money if any entity with which it does business becomes unwilling or unable to honor its obligations to the sub-fund), legal and tax risks (the sub-fund could be affected by foreign legal and tax changes, some of which may be retroactive).
Portfolio allocation
Geographic spread
Top 10 sorted by underlying
Description | Weight (% NAV) |
---|---|
Total | 62,3% |
FUFENG GROUP LTD | 9,8% |
AGEAS/AGEASFINLUX "fresh" | 9,7% |
INDIABULLS HOUSING FINANCE | 7,3% |
3SBIO INC | 7,2% |
VIPSHOP HOLDING LTD ADR | 5,5% |
MOMO INC-SPON ADR | 4,8% |
HORIZON PHARMA PLC | 4,7% |
AGEAS/FORTIS BANK "cashes" | 4,6% |
CTRIP.COM INTERNATIONAL-ADR | 4,5% |
ASHTEAD GROUP PLC | 4,2% |
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 | 59,5% |
FUFENG GROUP LTD | 9,8% |
AGEAS / AGEASFINLUX SA FLOATING RATE PERPETUAL | 9,7% |
3SBIO/STRATEGIC INTL 0% 21/07/22 | 7,2% |
INDIABULLS HOUSING FINANCE | 6,5% |
MOMO 1.25% 01/07/25 | 4,8% |
HORIZON PHARMA INV LTD 2.5% 15/03/22 | 4,7% |
AGEAS / FORTIS BANK SA/NV FLOATING RATE PERPETUAL | 4,6% |
CTRIP.COM INTL LTD 1% 01/07/20 | 4,5% |
VIPSHOP HOLDING 1.5% 15/03/2019 | 4,5% |
SAFRAN SA | 3,2% |
Market capitalisation
Evolution of ratios
* Before 30/06/2006, these data are issued from underlying stocks of the SICAV TreeTop Convertible International.
Other statistics
Delta | 0.86 |
---|---|
Credit spread (bp) | 256 |
Duration | 5.63 |
Market cap. (€ bill.) | 8.05 |
1Y projected P/E | 11.64 |
Estimated 5Y LTG | 15.45 |
Current ROE | 17.47 |