Fact sheet: TreeTop Convertible Intl

Fund information
Fund name
TreeTop Convertible International A EUR
Fund manager company
TreeTop Asset Management SA
Fund type
Offshore Fund
Fund managers
  • Jacques Berghmanssince 07/07/2005
  • Hubert d'Ansembourgsince 07/07/2005
Fund objective
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. 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. Most of the sub-fund's exposure to foreign exchange risk is hedged back into the reference currency of the share class.
Benchmark
  • MSCI AC World
Investment style
No data available.
Investment method
No data available.
Quick stats
1 Year return
11.9%
1 Year rank in sector
8/96
Sector
FO Mixed Asset - Cautious
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.55%
Fund size
£486m
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.
100
Top in this sector
Fund name1 Year
Polar Capital IncmOpps22.2%
HSBC Pfl World Seltn 119.1%
Ashmore SICV3EmMktMltAst17.6%
SEI Core16.7%
Allianz Inc & Gth13.4%
...more in FO Mixed Asset - Cautious

Performance snapshot

Holdings snapshot

  • China19%
    India18.6%
    Money Market15.9%
    Belgium14.5%
    USA12%
  • Financials27.7%
    Consumer Discretionary16.3%
    Money Market15.9%
    Materials14.3%
    Industrials8.3%
  • Convertibles37.6%
    Warrants18.3%
    Money Market15.9%
    Options14.3%
    International Equities13.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund4.2%12.4%10.3%11.9%10.3%46%
Sector-0%1.6%1.4%5.2%8.3%16.8%
Rank within sector1 / 1031 / 1022 / 1018 / 9625 / 674 / 53
Quartile1st1st1st1st2nd1st
Calendar performance
 YTD - 20172016201520142013
Fund12.7%-9%1.6%9.2%20%
Sector1.6%3.6%-0.7%4.3%4.2%
Rank within sector1 / 10293 / 9321 / 805 / 642 / 60
Quartile1st4th2nd1st1st
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.
-3.84
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.
2.35
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.
-0
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%.
10.96
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.
8.43
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.
-0.1
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.
0.61
Price movement
52 week high308.94
52 week low257.82
Current bid price-
Current offer price-
Current mid price308.66
Region
1China19%
2India18.6%
3Money Market15.9%
4Belgium14.5%
5USA12%
6France4.9%
7Switzerland4.2%
8Korea3.8%
9Germany3.2%
Industry sector
1Financials27.7%
2Consumer Discretionary16.3%
3Money Market15.9%
4Materials14.3%
5Industrials8.3%
6Health Care7.2%
7Technology6%
8Utilities3.8%
9Consumer Staples0.7%
Asset type
1Convertibles37.6%
2Warrants18.3%
3Money Market15.9%
4Options14.3%
5International Equities13.9%
Individual holdings
1FUFENG GROUP 3% CNV BDS 27/11/18 CNY1000000 REG S9.7%
2FORTFINLUX SA FLTG RATE CNV BDS 7/2049 EUR250000 REG`S9.4%
3VIPSHOP HLDGS LTD 1.5% CNV BDS 15/03/19 USD20009.3%
4FORTIS BANK SA CNV SUBORD FLTG RATE NTS(FORTIS) EUR5%
5INDIABULLS HOUSING FINANCE WRT (CITI)4.8%
6ALLIANCE DATA SYSTEMS CORP4.5%
7GLENMARK PHARMACEUTICALS 2% CNV BDS 28/06/22 USD2500004.2%
8IWG PLC4.2%
9UBS AG LONDON BRANCH STRU PRD224145 01/12/17(KEPCO)3.8%
Management
Fund manager group
TreeTop Asset Management
Fund manager company
TreeTop Asset Management SA
Fund type
Offshore Fund
Fund objective
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. 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. Most of the sub-fund's exposure to foreign exchange risk is hedged back into the reference currency of the share class.
Benchmark
  • MSCI AC World
Investment style
No data available.
Investment method
No data available.
Fund managers
NameSinceBiography
Jacques Berghmans07/07/2005TreeTop AM's founder, Mr Berghmans worked with Merrill Lynch for 20 years as a Financial Consultant and for 3 years with Banque Degroof as a Fund Manager. Mr Berghmans holds a Bachelor of Law from the Catholic University of Louvain.
Hubert d'Ansembourg07/07/2005Fund Manager for 30 years, he developed SECAF, CAF (financial software), and then BRG which was acquired in 2000 by Banque Degroof. Founder of the Convertible International SICAV in 1988. Author of many chronicles and conferences in the financial sector. Mr d’Ansembourg holds Bachelor and Master in Economic Sciences from the Catholic University of Louvain.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Distributor Status, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Belgium, Spain, France, United Kingdom, Luxembourg, Netherlands, Offshore
TreeTop Convertible International A EUR
Initial charge3%
Annual charge1.2%
Min single investment£250
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.55%
Total expense ratio (TER)1.56%
Bid price-
Offer price-
Mid price308.66
CurrencyEUR
Price updated28/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFQJ0
TreeTop Convertible International B USD
Initial charge3%
Annual charge1.2%
Min single investment£250
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.55%
Total expense ratio (TER)1.56%
Bid price-
Offer price-
Mid price405.07
CurrencyUSD
Price updated28/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFQJ1
TreeTop Convertible International C GBP
Initial charge3%
Annual charge1.2%
Min single investment£250
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.54%
Total expense ratio (TER)1.56%
Bid price-
Offer price-
Mid price132.83
CurrencyGBP
Price updated28/03/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFQJ2
TreeTop Convertible International D EUR
Initial charge3%
Annual charge1.2%
Min single investment£250
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.53%
Total expense ratio (TER)1.56%
Bid price-
Offer price-
Mid price277.49
CurrencyEUR
Price updated28/03/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFQJ3
Data provided by

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