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(s)
Jacques Berghmans
since 07/07/2005
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

17.58 %

1 Year rank in sector

3/77

Sector

FO Convertible

Yield
-
Fund size

£ 419.0 m

FE Risk score

114

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • China
    25.8%
  • India
    20.5%
  • Money Market
    17.3%
  • Belgium
    14.3%
  • France
    4.7%
  • Financials
    31.9%
  • Consumer Discretionary
    21.1%
  • Money Market
    17.3%
  • Materials
    14.2%
  • Industrials
    8%
  • Convertibles
    31.6%
  • Options
    21%
  • Money Market
    17.3%
  • Warrants
    16.1%
  • International Equities
    14.1%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund7.33 %5.79 %17.58 %15.29 %45.59 %
Sector1.64 %2.61 %6.23 %10.83 %24.25 %
Rank within sector1 / 797 / 783 / 7719 / 663 / 52
Quartile th1 st1 st1 st2 nd1 st

Calendar performance

YTD-20182017201620152014
Fund4.95 %16.51 %-9.05 %1.56 %9.17 %
Sector1.63 %5.22 %0.75 %2.92 %2.27 %
Rank within sector1 / 783 / 7773 / 7352 / 653 / 59
Quartile th1 st1 st4 th4 th1 st

Risk statistics

Alpha-2.24
Beta1.76
Sharpe-0
Volatility11.69
Tracking error7.89
Information ratio-0.06
R-Squared0.67

Price movement

52 week high335.01
52 week low283.52
Current bid price0
Current offer price0
Current mid price335.01

Holdings by region

  • 25.8% China
  • 20.5% India
  • 17.3% Money Market
  • 14.3% Belgium
  • 4.7% France
  • 4.4% Norway
  • 4.3% USA
  • 3.9% UK
  • 1.9% Germany
  • 1.8% Hong Kong

Holdings by sector

  • 31.9% Financials
  • 21.1% Consumer Discretionary
  • 17.3% Money Market
  • 14.2% Materials
  • 8% Industrials
  • 4.9% Health Care
  • 1.7% Technology
  • 1% Consumer Staples

Holdings by asset type

  • 31.6% Convertibles
  • 21% Options
  • 17.3% Money Market
  • 16.1% Warrants
  • 14.1% International Equities

Individual holdings

  • 9.6% FORTFINLUX SA FLTG RATE CNV BDS 7/2049 EUR250000 REG`S
  • 9.5% FUFENG GROUP
  • 9% VIPSHOP HLDGS LTD 1.5% CNV BDS 15/03/19 USD2000
  • 4.9% INDIABULLS HOUSING FINANCE WRT (CITI)
  • 4.7% FORTIS BANK SA CNV SUBORD FLTG RATE NTS(FORTIS) EUR
  • 4.4% GLENMARK PHARMACEUTICALS 2% CNV BDS 28/06/22 USD250000
  • 4.4% NORWEGIAN FINANS HLDG ASA
  • 4% CTRIP COM INTERNATIONAL 1% BDS 01/07/20 USD1000
  • 3.5% UPL-CLSA 14-19
  • 3.2% MERRILL-CW19 INDIABULLS HO