Fund performance

Annual performance
TreeTop Patrimoine Conservative P EUR

Evolution of the annual performance of TreeTop Patrimoine Conservative P EUR vs Composite Index(1)

(1) Composite Index consisting of 70% Euro Government 1-3Y TR Bonds index and 30% 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 Patrimoine Conservative P EUR vs Composite Index(1)

(1) Composite Index consisting of 70% Euro Government 1-3Y TR Bonds index and 30% 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
(07-04-2020)
113,15

Cumulative returns
as of 07-04-2020

Fund Composite Index (1)
YTD -7,93% -5,74%
1 year -5,92% -2,76%

Annualized returns as of 07-04-2020

Fund Composite Index (1)
3 years -2,60% 0,96%
5 years -1,43% 1,29%
Origin* 1,47% 3,45 %

* from launch date of the sub-fund (2011).

Past performance is no guarantee of future performance.

Source: Degroof Petercam Asset Services and Bloomberg for the period 2011 - 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 Portfolio SICAV
Name of sub-fund TreeTop Patrimoine Conservative
Type of product/ legal form/ applicable duty and applicable duration NON-UCITS sub fund, being a SICAV under Luxembourg Law with undefinite end
Share class P EUR
Dividend policy Capitalisation
Launch date 2011
ISIN code LU0675136062
Minimum initial inv. €250,000
Type of fund Non-UCITS
Liquidity Daily
Domicile Luxembourg
Type of investor All investors
Management fee 0.60%
Performance fee None
Entry fee* Max. 1.5%
Ongoing charges 0,97%
Stock exchange transaction tax at redemption (or conversion) in Belgium N/A
Belgian tax on savings (Belgian withholding tax at redemption) 30%
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.
2020 0,17% -1,39% -6,93% - - - - - - - - - -7,93% (YTD)
2019 2,35% 1,28% -0,18% 1,09% -1,63% 1,25% -0,66% -0,52% -0,55% 1,74% 1,52% 0,78% 6,58%
2018 2,06% -0,70% -1,67% 0,50% -0,27% -0,94% -0,09% -0,53% -1,30% -4,05% -0,27% -2,56% -9,50%
2017 1,47% 1,96% 1,70% 0,43% 0,67% -0,03% 0,74% 0,14% 1,25% 0,84% -0,67% 0,67% 9,53%
2016 -4,19% -0,78% 1,35% 0,04% 0,72% -1,57% 1,85% 0,37% 0,13% -0,52% 0,28% 0,11% -2,32%
2015 0,40% 0,94% 0,50% 0,26% 0,95% -1,24% 0,35% -1,94% -1,30% 1,82% 0,07% -0,96% -0,21%
2014 -0,26% 1,27% -0,29% -0,15% 0,50% 0,24% 0,29% 0,49% -0,50% -0,23% 0,62% -0,22% 1,77%
2013 0,92% 0,22% 0,50% 0,74% 0,80% -1,26% 1,08% 0,06% 0,88% 1,23% 0,97% 0,62% 6,95%
2012 2,48% 1,70% 0,27% 0,06% -1,74% 0,48% 1,21% 0,66% 1,01% -0,03% 0,73% 1,13% 8,21%
2011 - - - - - - - - - - -1,87% 1,08% 1,32%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Perf. Ann.
2020 123,10 121,39 112,98 - - - - - - - - - -7,93% (YTD)
2019 118,01 119,52 119,31 120,61 118,65 120,13 119,34 118,72 118,07 120,12 121,94 122,89 6,58%
2018 130,03 129,12 126,97 127,61 127,26 126,07 125,96 125,29 123,66 118,65 118,33 115,30 -9,50%
2017 118,03 120,34 122,39 122,92 123,74 123,70 124,62 124,79 126,35 127,41 126,56 127,41 9,53%
2016 114,09 113,20 114,73 114,78 115,61 113,79 115,90 116,33 116,48 115,87 116,19 116,32 -2,32%
2015 119,81 120,94 121,54 121,86 123,02 121,50 121,92 119,56 118,00 120,15 120,23 119,08 -0,21%
2014 116,96 118,44 118,10 117,92 118,51 118,80 119,14 119,72 119,12 118,85 119,59 119,33 1,77%
2013 110,65 110,89 111,44 112,27 113,17 111,74 112,95 113,02 114,02 115,42 116,54 117,26 6,95%
2012 103,83 105,59 105,88 105,94 104,10 104,60 105,87 106,57 107,65 107,62 108,41 109,64 8,21%
2011 - - - - - - - - - - 100,24 101,32 1,32%

Fund strategy

TreeTop Patrimoine Conservative aims to increase the value of your investment over the medium term while protecting part of the capital invested through the active management of a diversified portfolio comprising different asset classes. Under normal market conditions, the sub-fund will emphasize its allocation to fixed income instruments: bonds, money market instruments and bank deposits. However up to one third of the portfolio can be exposed to equity markets. The sub-fund may also use derivatives for investment purposes or to reduce investment risks (hedging). The sub-fund may invest in securities form issuers anywhere in the world, including in emerging markets. With a view of diversifying the source of performance, the sub-fund is managed by different fund managers of TreeTop Asset Management, each following its own global active management approach. Investments will be made either directly or through funds managed by TreeTop Asset Management. The sub-fund will invest in EUR share classes, hedged against the foreign exchange risk provided such share classes are available. The sub-fund is managed on a discretionary basis with no reference to any indices.

Fund Managers

Jacques Berghmans
Andrew Dalrymple
Sharon Bentley-Hamlyn

The investment process of TreeTop Patrimoine Conservative aims to diversify the sources of return between different asset classes, different regions, different economic sectors and different global managers while emphasizing its allocation to fixed income instruments. The portfolio is divided among two main components: an “equity” component exposed, directly or indirectly, to international equity markets (shares, other instruments equivalent to shares, warrants and call options on shares...) and a “fixed income” component made of bonds, money market instruments and bank deposits. • The “fixed income instruments” component represents the principal part of the overall portfolio. It is managed conservatively: priority is given to the protection of capital relative to performance. Investments are thus made in government bonds, bonds from corporate or financial institutions of quality or bank deposits. The majority of investments are made in securities denominated in Euros. • The “equity” component is allocated to different fund management teams of TreeTop Asset Management each following its own global investment approach. Ongoing monitoring of risk aims to ensure that the "equity" risk of the overall portfolio does not exceed one third of the net assets.

There are no financial instruments without risk and investing is always taking a gamble on the future. In addition to errors in judgment, the numerous uncontrollable events of a political (political crisis, war...), economic, financial (banking crisis, monetary policy change…), technological (discovery causing profound changes...) or of a specific nature for each company (strategic error, competitive changes...) can seriously penalize a potentially interesting investment.
The most effective way to reduce risk is to diversify the sources of return and risk among the different asset classes, different regions, different economic sectors and different global managers.

Diversification of asset classes and preservation of capital

The main part of the overall portfolio is made of bonds and other fixed income instruments the principal aim of which is the protection of invested capital. The sub-fund's objective is that the weighting of this component represents no less two third of the overall portfolio.

Diversification of managers

The overall portfolio is managed by two or more management teams that each follows their own investment style.

Weighting of investments

Each management teams manages a diversified portfolio within the overall portfolio. As a general rule the value of a stock taken individually should rarely represent more than 3% of the overall value of the portfolio.

Sector Diversification

A distribution between the various sectors of the MSCI is sought in the “equity” component of the portfolio.

Geographic Diversification

Three major areas of investment are considered: America, Europe-Africa, and Asia-Pacific. The sub-fund’s objective in the management of the “equity” component is that no area taken individually represents in general more than 50% of that component.

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 sub-fund will invest in EUR share classes, hedged against the foreign exchange risk provided such share classes are available.

Portfolio allocation

Geographic spread1

* inclus: Cash & dépôts 53,2% - Emprunt d'Etat 8,3%

(1) This fund invests in other funds managed by TreeTop Asset Management. Portfolio structure information are based on the investments and securities held directly and through these funds.

Top 10 sorted by underlying

Type of securities1

(1) This fund invests in other funds managed by TreeTop Asset Management. Portfolio structure information are based on the investments and securities held directly and through these funds.

Sector breakdown by underlying value

Top 5 convertible bonds

Description Weight (% NAV)
Total 10,1%
AGEAS / FORTIS BANK SA/NV FLOATING RATE PERPETUAL 9,6%
HORIZON PHARMA INV LTD 2.5% 15/03/22 0,5%

Top 5 equities

Description Weight (% NAV)
Total 4,3%
FUFENG GROUP LTD 1,1%
VIPSHOP HOLDING LTD ADR 1,0%
DEXCOM INC 0,8%
DALI FOODS GROUP CO LTD 0,7%
HYPOPORT AG 0,7%

Top 10 by instrument

Market capitalisation

Evolution of ratios

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

Other statistics