Fund performance

Annual performance
TreeTop World ESG Leaders Equity Index CH

Evolution of the annual performance of TreeTop World ESG Leaders Equity Index CH vs Reference Index(1) (2)

(1) From the launch until 25/01/2021, the reference index was MSCI ACWI Index net dividends reinvested in EUR. Since 26/01/2021, the reference index is MSCI ACWI ESG Leaders Index net dividends reinvested in EUR. The performance achieved before this date was achieved under conditions that no longer exist.
(2) Past performances up to the launch (29/09/17) were simulated on the basis of the history of class AH (BE6275985859 - launched on 09/03/15) of the same sub-fund, the two share classes being similar.

Evolution of the NAV (Net Asset Value) of TreeTop World ESG Leaders Equity Index CH vs Reference Index(1)

(1) From the launch until 25/01/2021, the reference index was MSCI ACWI Index net dividends reinvested in EUR. Since 26/01/2021, the reference index is MSCI ACWI ESG Leaders Index net dividends reinvested in EUR. The performance achieved before this date was achieved under conditions that no longer exist.

Latest NAV in EUR
(29-11-2021)
1545,30

Cumulative returns
as of 29-11-2021

Fund Reference Index (1)
YTD 19,68% 26,17%
1 year 23,29% 27,81%

Annualized returns as of 29-11-2021

Fund (2) Reference Index (1)
3 years 14,81% 17,77%
5 years 12,16% 12,97%
Origin* 9,37% 13,90 %

(1) From the launch until 25/01/2021, the reference index was MSCI ACWI Index net dividends reinvested in EUR. Since 26/01/2021, the reference index is MSCI ACWI ESG Leaders Index net dividends reinvested in EUR. The performance achieved before this date was achieved under conditions that no longer exist.
(2) Past performances up to the launch (29/09/17) were simulated on the basis of the history of class AH (BE6275985859 - launched on 09/03/15) of the same sub-fund, the two share classes being similar.
* from launch date of the sub-fund (2017).

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

Source: Amundi Asset Management for the period 2015 – 2021

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

General information: the word "fund" is used as a generic term to designate SICAVs and sub-funds of SICAVs.
Name of fund TreeTop SICAV
Name of sub-fund TreeTop World ESG Leaders Equity Index
Management Company TreeTop Asset Management S.A.
Delegated Investment Manager Amundi Asset Management
Type of product/ legal form/ applicable duty and applicable duration UCITS sub fund, being a SICAV under Belgian Law with undefinite end
Share class CH EUR
Dividend policy Capitalisation
Launch date 2017
ISIN code BE6297540096
Minimum initial inv. €2500
Type of fund UCITS
Liquidity Daily
Domicile Belgium
Type of investor Investors with a TreeTop Asset Management Belgium account
Management fee 0.150%
Performance fee -
Entry fee 0.10%
Outgoing fee 0.05%
Frais en cas de changement de compartiment 0.10% + the possible difference between the management fee of the new subfund and that of the current subfund
Ongoing charges* 0.40%
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
The tax regime applies to an average retail customer, being a natural person residing in Belgium.

 

Risk and Reward Profile

1 2 3 4 5 6 7

Lower risk

Potentially lower reward

Higher risk

Potentially higher reward

For more information about the fund's risk/reward profile see the latest KIID and prospectus.
Other risks are mentioned in the 'Risk management' here under.

* Management fees are included in ongoing charges

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, if necessary in consultation with the management company, and give a detailed response in the month following its receipt, provided that the complaint is complete and specific.

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.

 

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.

Fund strategy

The fund aims to replicate, as closely as possible, as part of passive management, the performance of the MSCI ACWI ESG Leaders Index net return (the “Index”), regardless of whether its performance is positive or negative. The Management Company aims to achieve a tracking error level (ex-ante) between changes in the valuation of shares of the fund and that of the Index of less than 5% (no guarantee is given in this regard by the Management Company). 
This share class provides partial currency exchange hedging: 100% hedging of currency risk against EUR in the following currencies: USD, GBP, JPY, CAD, CHF and AUD and without hedging on other currencies. Given the composition of the Index as of December 31, 2020, this means that the portion of the portfolio not hedged against currency risk is approximately 15%, this proportion being subject to change depending on the weight of currencies not covered within the Index. In this respect, the different share classes proposed may have different levels of spread compared to the Index, due in particular to the impact that the currency risk hedging strategy may have. For this share class, the currency risk will be reduced by the partial coverage, but the tracking error compared to the MSCI ACWI ESG Leaders Index, which is not currency hedged, will be higher. The historical differences this level of tracking error to be estimated at 5% (based on normal market conditions); this level however may be exceeded in case of high currency volatility between them.
The Index is an equity index calculated and published by the international index provider MSCI Inc. (“MSCI”). The shares forming the MSCI ACWI ESG Leaders Index are among the most significant values of the equity markets in developed and emerging countries. They represent among the companies making up the MSCI ACWI Index the securities of companies having according to the index provider the best ratings in environmental, social and governance (ESG) matters. 
The exposure to the Index will be achieved through physical replication with a direct investment in all components of the Index. This replication can lead to portfolio transaction costs having a considerable impact on the investment return. These costs are borne by the assets of the fund, in addition to the costs mentioned in the KIID.
However, in order to handle the entries and exits, as well as the characteristics of the local equity markets (market access, liquidity, local tax), the Management Company will be able to combine physical replication with synthetic replication by using derivative instruments such as futures contracts and/or other UCIs, including Exchange Traded Funds. In the event of synthetic replication of the Index, counterparty risk will be higher.
Forward financial instruments may also be used for hedging and / or for the purpose of achieving the investment objective.
The net income and net realized capital gains of the fund are systematically reinvested.
You can request the redemption of your shares every bank working day in Brussels, the redemption operations are carried out on a daily basis, subject to the limitations outlined in the prospectus and the articles of association.
Recommendation: this fund may not be suitable for investors who plan to withdraw their investment within 5 years.
This share class is reserved for investors who have an account with the Distributor, TreeTop Asset Management Belgium, and at the time of subscription, give instruction to the Distributor to make a donation to King Baudouin Foundation on their behalf equal to 2% of their investment (meaning for an investment of 100, a subscription of 98 and a donation of 2). 
These objectives as well as the investment policy are an exact copy of those indicated in the corresponding KIID.

Fund Manager

Amundi Asset Management

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 factor: it is invested in shares which carry higher risks than bonds or money market instruments.

Other risks to be considered

Moreover, it is be exposed to other risks:

  • Sustainability risk: environmental, social or governance event or condition that could cause an important negative impact on the value of an investment.
  • Counterparty risk : the risk that the credit institution may not honour its commitments with regard these instruments. This risk is present when using financial derivative instruments to ensure the synthetic replication of the Index or to hedge the currency risk.
  • Currency exchange risk: the fund invests in securities denominated in currencies other than that of the fund, the risk that the value of an investment may be influenced by exchange rate fluctuations is real.

TreeTop World ESG Leaders Equity Index is a product promoting environmental or social characteristics in the sense of article 8 of the SFDR, since it replicates the MSCI ACWI ESG Leaders Index, and it does not have a sustainable investment objective. It is a passively managed fund.

The MSCI ACWI ESG Leaders Index is a stock index comprising securities in companies having the best ratings (“Best-in-Class” approach) in environmental, social and governance (ESG) matters among the companies making up the MSCI ACWI Index: an index representing mid and large-cap securities from 23 developed countries and 26 emerging countries (the “Benchmark Index”).

The MSCI ACWI ESG Leaders Index is constructed by applying to the companies comprising the Benchmark Index (MSCI AVWI) a combination of two filters:

  • The exclusion of companies participating in controversial activities (example of excluded activities: alcohol, gambling, tobacco, weapons)
  • ESG rating of the remaining companies according to the MSCI methodology, taking into account 35 issues in the environmental (such as carbon footprint or water use), social (such as occupational health and safety or product quality and safety) and governance field (such as the composition of Boards of Directors or shareholders’ rights)
  • Selection by MSCI of companies with the highest ESG ratings, representing 50% of the market capitalization of each sector and region of the Benchmark Index.

MSCI Inc. is the international index provider responsible for evaluating the selection criteria (more information available at www.msci.com).

For more information related to environmental, social or governance aspects, please refer to TreeTop SICAV’s prospectus.