Fact sheet: Verrazzano Eurp Foc

Fund information
Fund name
Verrazzano European Focus A NR V USD
Fund manager company
Verrazzano Capital SAS
Fund type
Unit Trust
Fund managers
  • Karim Moussalemsince 01/03/2012
  • Guillaume Rambourgsince 01/03/2012
Fund objective
The investment objective of the Master Fund is to provide investors with attractive risk-adjusted returns, in particular by taking high conviction long and short positions in companies listed in Europe. The investment policy of the Master Fund rests on the fundamental belief that the key determinant of share price performance is unexpected changes in earnings growth. The AIFM believes that over the medium to longer term, superior share price performance is generated by those companies which deliver growth in excess of market expectations. Conversely, the share price of companies with growth which fails to meet market expectations will perform poorly. The AIFM believes that European equity markets operate inefficiently and therefore the AIFM will work to generate capital growth from stock selection via long term fundamental research.
Benchmark
  • MSCI Europe
Investment style
Long/Short
Investment method
Equity
Quick stats
1 Year return
-5.1%
1 Year rank in sector
74/109
Sector
FO Hedge/Stru Prod - Equity
Yield
-
Fund size
£248m (£248m last year)
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.
63
Top in this sector
Fund name1 Year
MontLake ToscaMiCaUCITS24.8%
Majedie Tortoise24.8%
Income Partners AllSeasnAsCred18.5%
Ennismore Eurpn Smallar Cos16.7%
DNB ECO Abs Rt15.4%
...more in FO Hedge/Stru Prod - Equity

Performance snapshot

Holdings snapshot

  • France20.7%
    Italy10.7%
    Spain8%
    UK3.4%
    Germany1.5%
  • Communications15.8%
    Financials14.2%
    Non-Cyclical Consumer Goods11.4%
    Industrials10%
    Technology1.5%
  • No data available.

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.3%-1.6%-5.1%16.4%-
Sector-0.1%0.1%0.5%-2.6%3%14.3%
Rank within sector-31 / 12783 / 12074 / 10916 / 72-
Quartile1st3rd3rd1st
Calendar performance
 YTD - 20162015201420132012
Fund-6.3%15.6%6.1%18.9%-
Sector-2.1%2.7%2.5%7.1%3.9%
Rank within sector84 / 1104 / 9423 / 7414 / 66-
Quartile4th1st2nd1st
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.
4.38
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.
1.77
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.
0.4
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%.
7.92
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.
5.96
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.
0.88
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.
0.54
Price movement
52 week high151.54
52 week low136.93
Current bid price-
Current offer price-
Current mid price141.99
Region
1France20.7%
2Italy10.7%
3Spain8%
4UK3.4%
5Germany1.5%
6Finland1.1%
7Sweden-2.1%
8Not Specified-7.6%
Industry sector
1Communications15.8%
2Financials14.2%
3Non-Cyclical Consumer Goods11.4%
4Industrials10%
5Technology1.5%
6Energy1.3%
7Cyclical Consumer Goods0.7%
8Derivatives-19.1%
Asset type
No data available.
Individual holdings
1SHIRE PLC7.5%
2ORANGE SA6.3%
3TELECOM ITALIA SPA(NEW)6.2%
4LEONARDO SA5.7%
5MARIE BRIZARD WINE & SPIRITS SA5.4%
Management
Fund manager group
No data available.
Fund manager company
Verrazzano Capital SAS
Fund type
Unit Trust
Fund objective
The investment objective of the Master Fund is to provide investors with attractive risk-adjusted returns, in particular by taking high conviction long and short positions in companies listed in Europe. The investment policy of the Master Fund rests on the fundamental belief that the key determinant of share price performance is unexpected changes in earnings growth. The AIFM believes that over the medium to longer term, superior share price performance is generated by those companies which deliver growth in excess of market expectations. Conversely, the share price of companies with growth which fails to meet market expectations will perform poorly. The AIFM believes that European equity markets operate inefficiently and therefore the AIFM will work to generate capital growth from stock selection via long term fundamental research.
Benchmark
  • MSCI Europe
Investment style
Long/Short
Investment method
Equity
Fund managers
NameSinceBiography
Karim Moussalem01/03/2012Prior to joining Verrazzano Capital as a Founding Partner, Karim spent eleven years at Goldman Sachs International (GSI) in London, where he started as a summer analyst in 2000 in the Equities division. Joining full time in March 2001, Karim joined the pan-European trading desk as a financial analyst trading the French market. In 2002, Karim was promoted to associate and moved on to trade the financials book. He was promoted to vice president a few years later and to managing director in 2007. In 2009, Karim was promoted to co-head of One Delta trading in Europe, a role that put him in charge of managing risk across all the non-derivative equity businesses of GSI. The same year, he was put in charge of pricing block trades and other capital market transactions including rights issues, secondary offerings, corporate and institutional blocks. Karim graduated in 2001 from the MBA ESSEC Business School in Paris with a degree in Finance.
Guillaume Rambourg01/03/2012Prior to joining Verrazzano Capital as a Founding Partner, Guillaume was co-portfolio manager of the AlphaGen Capella, AlphaGen Tucana and AlphaGen Acamar hedge funds at Gartmore Investment Management where he co-ran $5 billion in assets under management (AUM) at the peak across both strategies (peaked in 2008 and again in 2009). Guillaume joined Gartmore in 1995 as an analyst. He was co-manager from inception of both the AlphaGen Capella hedge fund (1999–2010) and AlphaGen Tucana (2005–2010). In addition he co-managed European long-only mandates totalling AUM $8 billion at the peak. Guillaume graduated from ESSEC Business School in Paris (1993), majoring in Finance.
Compliance
No data available.
Domicile
No data available.
Fund for sale in
Switzerland, United Kingdom, Ireland, Offshore, United States
Verrazzano European Focus A NR V USD
Initial charge-
Annual charge1.5%
Min single investment£1,000,000
Min regular saving£100,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price141.9877
CurrencyUSD
Price updated30/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeC1OU
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Moneywise and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.