Fund performance

Annual performance
TreeTop Global Conviction AH EUR

Evolution of the annual performance of TreeTop Global Conviction 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 Global Conviction 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
(08-07-2020)
124,73

Cumulative returns
as of 08-07-2020

Fund MSCI AC World (1)
YTD 26,08% -2,48%
1 year 26,35% 4,57%

Annualized returns as of 08-07-2020

Fund MSCI AC World (1)
Origin* 11,58% 6,12 %

* from launch date of the sub-fund (2018).

Past performance and NAV evolution are no guarantee of future performance.

Source: Degroof Petercam Asset Services and Bloomberg for the period 2018 - 2020

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 Global SICAV
Name of sub-fund TreeTop Global Conviction
Management Company TreeTop Asset Management S.A.
Delegated Investment Manager Aubrey Capital Management Ltd
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 2018
ISIN code LU1836395100
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
Ongoing charges 1.51%
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.

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.

Fund strategy

The sub-fund aims to increase the value of your investment over the long term.

Under normal market conditions, the sub-fund invests mainly in shares, or other securities representative of shares, from issuers anywhere in the world including in emerging markets, China and Russia, and in any currency. The sub-fund also invests in other types of financial instruments, consistent with its objective. The sub-fund may use derivatives for investment purposes or to reduce investment risks (hedging).

The fund manager follows a disciplined investment approach based on the analysis of human behaviour during the different phases of the wealth cycle. On that basis, the fund manager aims to select about 35 to 60 companies that exhibit high earnings growth and a strong and stable competitive business. Though the portfolio will be diversified in terms of regions and economic sectors, it is not constructed by reference to any market index. The fund manager will generally favour regions and countries that show an above average potential growth rate. 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 6 years.

The share classes do 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

Andrew Dalrymple

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) the sub-fund invests mainly in shares, and 2) the sub-fund may favour particular economic sectors or regions, including emerging markets.

Other risks to be considered

Moreover, it is also exposed to the following risks:

  • Legal and tax risks: The sub-fund could be affected by foreign legal and tax changes, some of which may be retroactive.
  • Counterparty risk: The sub-fund could lose money if any entity with which it does business becomes unwilling or unable to honour its obligations to the sub-fund.

 

Portfolio allocation

Geographic spread

Top 10 sorted by underlying

Description Weight (% NAV)
Total 41,0%
MEITUAN DIANPING B 5,0%
SEA LTD-ADR 5,0%
YIHAI INTERNATIONAL HOLDING 5,0%
DEXCOM INC 5,0%
ADOBE SYSTEMS INC 4,0%
PROYA COSMETICS CO LTD-A 4,0%
AMAZON.COM INC 4,0%
TAL EDUCATION GROUP ADR 3,0%
TENCENT HOLDINGS LTD 3,0%
HYPOPORT AG 3,0%

Type of securities

Sector breakdown by underlying value

Consumer Discretionary Sector: encompasses businesses sensitive to economic cycles (automotive, household durable goods, textiles & apparel, hotels, restaurants, leisure facilities, media and consumer retailing).

Consumer Staples Sector: encompasses businesses less sensitive to economic cycles (food, beverages and tobacco, non-durable household goods, personal products, drug retailing and consumer super centers).

Top 5 convertible bonds

Top 5 equities

Top 10 by instrument

Description Weight (% NAV)
Total 41,0%
MEITUAN DIANPING B 5,0%
SEA LTD-ADR 5,0%
YIHAI INTERNATIONAL HOLDING 5,0%
DEXCOM INC 5,0%
ADOBE SYSTEMS INC 4,0%
PROYA COSMETIC-A WRT (CLSA) 4,0%
AMAZON.COM INC 4,0%
TAL EDUCATION GROUP ADR 3,0%
TENCENT HOLDINGS LTD 3,0%
HYPOPORT AG 3,0%

Market capitalisation

Market Capitalisation: a company’s total value at a given point in time, obtained by multiplying the stock market price by the number of shares in circulation.

Evolution of ratios

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

Other statistics