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

13.26 %

1 Year rank in sector

8/78

Sector

FO Convertible

Yield
-
Fund size

£ 460.7 m

FE Risk score

109

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • China
    23.2%
  • India
    22.1%
  • Money Market
    19.8%
  • Belgium
    14.6%
  • France
    6.2%
  • Financials
    30.5%
  • Money Market
    19.8%
  • Consumer Discretionary
    19.1%
  • Materials
    14.4%
  • Industrials
    9.1%
  • Convertibles
    31.2%
  • Money Market
    19.8%
  • Options
    18.5%
  • Warrants
    18%
  • International Equities
    12.5%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund-4.81 %-1.54 %13.26 %4.84 %41.89 %
Sector0.46 %2.15 %7.24 %9.99 %27.83 %
Rank within sector81 / 8174 / 798 / 7856 / 656 / 52
Quartile th4 th4 th1 st4 th1 st

Calendar performance

YTD-20172016201520142013
Fund12.32 %-9.05 %1.56 %9.17 %20.03 %
Sector5.94 %0.75 %2.92 %2.27 %11.66 %
Rank within sector7 / 7977 / 7755 / 683 / 603 / 53
Quartile th1 st4 th4 th1 st1 st

Risk statistics

Alpha-3.06
Beta1.75
Sharpe-0
Volatility11.47
Tracking error7.52
Information ratio-0.11
R-Squared0.7

Price movement

52 week high326.72
52 week low272.5
Current bid price0
Current offer price0
Current mid price307.75

Holdings by region

  • 23.2% China
  • 22.1% India
  • 19.8% Money Market
  • 14.6% Belgium
  • 6.2% France
  • 4.9% USA
  • 2.7% UK
  • 2.6% Norway
  • 1.5% Germany
  • 1.4% Hong Kong

Holdings by sector

  • 30.5% Financials
  • 19.8% Money Market
  • 19.1% Consumer Discretionary
  • 14.4% Materials
  • 9.1% Industrials
  • 4.9% Health Care
  • 2.3% Technology

Holdings by asset type

  • 31.2% Convertibles
  • 19.8% Money Market
  • 18.5% Options
  • 18% Warrants
  • 12.5% International Equities

Individual holdings

  • 10% FORTFINLUX SA FLTG RATE CNV BDS 7/2049 EUR250000 REG`S
  • 9.8% FUFENG GROUP
  • 8.8% VIPSHOP HLDGS LTD 1.5% CNV BDS 15/03/19 USD2000
  • 4.7% INDIABULLS HOUSING FINANCE WRT (CITI)
  • 4.6% FORTIS BANK SA CNV SUBORD FLTG RATE NTS(FORTIS) EUR
  • 4.1% GLENMARK PHARMACEUTICALS 2% CNV BDS 28/06/22 USD250000
  • 3.8% CTRIP COM INTERNATIONAL 1% BDS 01/07/20 USD1000
  • 3.5% MERRILL-CW19 INDIABULLS HO
  • 3.4% UPL-CLSA 14-19
  • 2.6% AIRBUS 30/07/19 45 EUR OPTION (BARC)