Fact sheet: TreeTop Convertible Intl

Fund information

Fund name
TreeTop Convertible International A EUR
Fund company manager
TreeTop Asset Management SA
Fund type
SIB
Fund manager
Hubert d'Ansembourg
since 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
None
Investment method
Convertibles

Quick stats

1 Year return

13.97 %

1 Year rank in sector

2/75

Sector

FO Convertible

Yield
-
Fund size

£ 476.4 m

FE Risk score

103

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • India
    21.9%
  • China
    19.5%
  • Money Market
    19.5%
  • Belgium
    15.8%
  • USA
    7.8%
  • Financials
    33.5%
  • Money Market
    19.5%
  • Consumer Discretionary
    17.8%
  • Materials
    11.5%
  • Industrials
    7.5%
  • Convertibles
    32.5%
  • Money Market
    19.5%
  • Options
    19.2%
  • Warrants
    18%
  • International Equities
    10.9%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund-0.46 %11.2 %14.69 %10.05 %52.68 %
Sector0.25 %3.22 %6.46 %7.19 %30.43 %
Rank within sector59 / 751 / 752 / 7520 / 624 / 54
Quartile th4 th1 st1 st2 nd1 st

Calendar performance

YTD-20172016201520142013
Fund15.53 %-9.05 %1.56 %9.17 %20.03 %
Sector4.25 %0.75 %2.92 %2.27 %11.66 %
Rank within sector1 / 7574 / 7455 / 693 / 623 / 55
Quartile th1 st4 th4 th1 st1 st

Risk statistics

Alpha0.13
Beta1.7
Sharpe-0
Volatility11.49
Tracking error7.65
Information ratio0.14
R-Squared0.68

Price movement

52 week high320.5
52 week low265.23
Current bid price0
Current offer price0
Current mid price316.55

Holdings by region

  • 21.9% India
  • 19.5% China
  • 19.5% Money Market
  • 15.8% Belgium
  • 7.8% USA
  • 6.1% UK
  • 5.2% France
  • 1.8% Germany
  • 1.4% Hong Kong
  • 1% Canada

Holdings by sector

  • 33.5% Financials
  • 19.5% Money Market
  • 17.8% Consumer Discretionary
  • 11.5% Materials
  • 7.5% Industrials
  • 7.1% Health Care
  • 3.2% Technology

Holdings by asset type

  • 32.5% Convertibles
  • 19.5% Money Market
  • 19.2% Options
  • 18% Warrants
  • 10.9% International Equities

Individual holdings

  • 10.7% FORTFINLUX SA FLTG RATE CNV BDS 7/2049 EUR250000 REG`S
  • 8.7% VIPSHOP HLDGS LTD 1.5% CNV BDS 15/03/19 USD2000
  • 6.8% FUFENG GROUP
  • 5.1% FORTIS BANK SA CNV SUBORD FLTG RATE NTS(FORTIS) EUR
  • 4.4% INDIABULLS HOUSING FINANCE WRT (CITI)
  • 4% CTRIP COM INTERNATIONAL 1% BDS 01/07/20 USD1000
  • 4% GLENMARK PHARMACEUTICALS 2% CNV BDS 28/06/22 USD250000
  • 3.6% MERRILL-CW19 INDIABULLS HO
  • 3.6% UPL-CLSA 14-19
  • 3.1% IWG PLC