Fact sheet: BB Entrepreneur Europe Small

Fund information
Fund name
BB Entrepreneur Europe Small B EUR
Fund manager company
Bellevue Asset Management
Fund type
Offshore Fund
Fund managers
  • Birgitte Olsen, CFAsince 30/06/2011
  • Dr.. Miroslav Zuzak, CFAsince 30/06/2011
  • Frank Raubersince 30/06/2011
Fund objective
The Fund invests in small capitalized, listed owner-managed companies in Europe where an entrepreneur or a founder family holds at least a 20% of a company’s voting rights, thereby exerting significant influence. The typical qualities of these companies – a focused business model, fast decision-making processes, sustainable business policies and a strong corporate culture – go hand in hand with efficient innovation, high product quality and strong customer loyalty. The corresponding impact on the share price is demonstrably positive. The Fund’s Management Team offers a wealth of experience in this investment segment and has built up an extensive network with entrepreneurs throughout the sector. It pursues a fundamental, bottom-up approach in identifying the most attractive founder-controlled companies with a small market capitalization while maintaining an investment portfolio of 25 to 40 stocks diversified by country and sub-sector.
Benchmark
  • MSCI Europe Small Cap Index
Investment style
Active,Growth
Investment method
Shares
Quick stats
1 Year return
14.5%
1 Year rank in sector
8/47
Sector
FO Equity - Small Cap Europe
Yield
-
Fund size
£22m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
95
Top in this sector
Fund name1 Year
Old Mutual Eur(ExUK)SmCo42.3%
SEB 2 Estn Eur Sm Cap35.1%
Montanaro Europ Inc31.3%
T. Rowe Price Eurpn SmCo Eq28.5%
Mandarine Uni Sm&MidCpsEur26.3%
...more in FO Equity - Small Cap Europe

Performance snapshot

Holdings snapshot

  • Germany18.1%
    Austria13.9%
    Italy13.8%
    Norway13.3%
    Spain9.4%
  • Industrials22.9%
    Information Technology15.5%
    Financials14.5%
    Consumer Discretionary14%
    Materials10.1%
  • German Equities18.1%
    Austrian Equities13.9%
    Italian Equities13.8%
    Norwegian Equities13.3%
    Spanish Equities9.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund2.6%6.8%7.6%14.5%64.2%135.9%
Sector1.9%3.1%5.3%6.5%35.8%109.4%
Rank within sector15 / 4711 / 4712 / 478 / 471 / 4212 / 39
Quartile2nd1st2nd1st1st2nd
Calendar performance
 YTD - 20162015201420132012
Fund5%28.9%10.1%32.4%12.7%
Sector-0.8%23.6%3.2%29.7%22.3%
Rank within sector9 / 478 / 478 / 4520 / 4136 / 39
Quartile1st1st1st2nd4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
5.53
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.06
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.06
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
14.36
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
5.33
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
1.14
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.87
Price movement
52 week high238.48
52 week low193.98
Current bid price-
Current offer price-
Current mid price237.34
Region
1Germany18.1%
2Austria13.9%
3Italy13.8%
4Norway13.3%
5Spain9.4%
6France8%
7Switzerland7.1%
8Finland5.9%
9Money Market3.2%
Industry sector
1Industrials22.9%
2Information Technology15.5%
3Financials14.5%
4Consumer Discretionary14%
5Materials10.1%
6Energy7%
7Consumer Staples5.9%
8Health Care5.5%
9Money Market3.2%
Asset type
1German Equities18.1%
2Austrian Equities13.9%
3Italian Equities13.8%
4Norwegian Equities13.3%
5Spanish Equities9.4%
6French Equities8%
7Swiss Equities7.1%
8Finnish Equities5.9%
9Money Market3.2%
Individual holdings
1RHI AG3.9%
2UPONOR OYJ3.8%
3I.M.A. Industria Macchone Automatiche S.p.A.3.6%
4AROUNDTOWN PROPERTY HLDGS3.5%
5VEIDEKKE3.5%
6Adler Real Estate AG ORD3.4%
7FILA KOREA LTD3.4%
8BAKKAFROST P/F3.3%
9BANCA IFIS3.2%
Management
Fund manager group
Bellevue Asset Management
Fund manager company
Bellevue Asset Management
Fund type
Offshore Fund
Fund objective
The Fund invests in small capitalized, listed owner-managed companies in Europe where an entrepreneur or a founder family holds at least a 20% of a company’s voting rights, thereby exerting significant influence. The typical qualities of these companies – a focused business model, fast decision-making processes, sustainable business policies and a strong corporate culture – go hand in hand with efficient innovation, high product quality and strong customer loyalty. The corresponding impact on the share price is demonstrably positive. The Fund’s Management Team offers a wealth of experience in this investment segment and has built up an extensive network with entrepreneurs throughout the sector. It pursues a fundamental, bottom-up approach in identifying the most attractive founder-controlled companies with a small market capitalization while maintaining an investment portfolio of 25 to 40 stocks diversified by country and sub-sector.
Benchmark
  • MSCI Europe Small Cap Index
Investment style
Active,Growth
Investment method
Shares
Fund managers
NameSinceBiography
Birgitte Olsen, CFA30/06/2011Birgitte Olsen, Head of European Equities, joined Bellevue Asset Management in 2008 and assumed portfolio management responsibility for the investment funds BB Entrepreneur Switzerland and BB Entrepreneur Europe as well as for institutional mandates. From 1994 to 1997 Birgitte Olsen was a financial analyst at Bank am Bellevue, focusing on the insurance and pharmaceutical sectors. She had previously spent nine years at Generali Investments in Cologne, where she managed European equity portfolios and thematic funds. Birgitte Olsen graduated from the University of St. Gallen in 1992 with a degree in finance and accounting.
Dr.. Miroslav Zuzak, CFA30/06/2011Dr. Miroslav Zuzak joined Bellevue Asset Management as a portfolio manager for European equities in 2009. He was previously at RBR Capital, a hedge fund advisor where he served as an analyst and Chief Legal Officer. He gained professional experience both during and before his university studies while working at an international strategy consulting agency and a law firm, as an Executive Director Major BWL at the University of St. Gallen and in the media industry as an editor for a radio broadcaster. He also founded and managed an IT company. Miroslav Zuzak obtained a degree in banking management (lic.oec. HSG) and a masters in law (M.A. in Law HSG) from the University of St. Gallen before graduating with a doctorate (Dr.oec. HSG). He passed the Level III CFA exam in 2009.
Frank Rauber30/06/2011Frank Rauber has been in Research and Investment Controlling at Bellevue Asset Management since 2003. He was previously employed in brokerage units at Bank Julius Bär and at UBS in Zurich and New York. He holds a degree in Business Administration from the School of Economics and Business Administration in Zurich (HWV).
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Germany, Spain, United Kingdom, Luxembourg, Offshore
BB Entrepreneur Europe Small B CHF
Initial charge5%
Annual charge1.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price211.43
CurrencyCHF
Price updated21/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code03XL
BB Entrepreneur Europe Small B EUR
Initial charge5%
Annual charge1.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price237.34
CurrencyEUR
Price updated21/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi code03XK
BB Entrepreneur Europe Small I CHF
Initial charge5%
Annual charge0.9%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price219.56
CurrencyCHF
Price updated21/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code03XJ
BB Entrepreneur Europe Small I EUR
Initial charge5%
Annual charge0.9%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price246.48
CurrencyEUR
Price updated21/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code03XI
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