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

13.68 %

1 Year rank in sector

3/75

Sector

FO Convertible

Yield
-
Fund size

£ 470.3 m

FE Risk score

104

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • India
    22.7%
  • Money Market
    21.1%
  • China
    20%
  • Belgium
    15.1%
  • UK
    5.9%
  • Financials
    33.8%
  • Money Market
    21.1%
  • Consumer Discretionary
    17.3%
  • Materials
    12.4%
  • Industrials
    7.9%
  • Convertibles
    31.2%
  • Money Market
    21.1%
  • Warrants
    18.8%
  • Options
    17.4%
  • International Equities
    11.5%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund3.04 %4.63 %13.68 %8.25 %47.32 %
Sector1.37 %2.39 %5.76 %7.99 %26.18 %
Rank within sector5 / 7713 / 763 / 7530 / 633 / 53
Quartile th1 st1 st1 st2 nd1 st

Calendar performance

YTD-20172016201520142013
Fund16.57 %-9.05 %1.56 %9.17 %20.03 %
Sector4.56 %0.75 %2.92 %2.27 %11.66 %
Rank within sector1 / 7674 / 7455 / 693 / 613 / 54
Quartile th1 st4 th4 th1 st1 st

Risk statistics

Alpha-1.2
Beta1.73
Sharpe-0
Volatility11.49
Tracking error7.52
Information ratio-0.02
R-Squared0.7

Price movement

52 week high320.5
52 week low265.23
Current bid price0
Current offer price0
Current mid price319.38

Holdings by region

  • 22.7% India
  • 21.1% Money Market
  • 20% China
  • 15.1% Belgium
  • 5.9% UK
  • 5.3% France
  • 4.6% USA
  • 2.9% Germany
  • 1.5% Hong Kong
  • 1% Canada

Holdings by sector

  • 33.8% Financials
  • 21.1% Money Market
  • 17.3% Consumer Discretionary
  • 12.4% Materials
  • 7.9% Industrials
  • 5.4% Health Care
  • 2.1% Technology

Holdings by asset type

  • 31.2% Convertibles
  • 21.1% Money Market
  • 18.8% Warrants
  • 17.4% Options
  • 11.5% International Equities

Individual holdings

  • 10.2% FORTFINLUX SA FLTG RATE CNV BDS 7/2049 EUR250000 REG`S
  • 8.4% VIPSHOP HLDGS LTD 1.5% CNV BDS 15/03/19 USD2000
  • 7.8% FUFENG GROUP
  • 4.9% FORTIS BANK SA CNV SUBORD FLTG RATE NTS(FORTIS) EUR
  • 4.9% INDIABULLS HOUSING FINANCE WRT (CITI)
  • 3.9% GLENMARK PHARMACEUTICALS 2% CNV BDS 28/06/22 USD250000
  • 3.8% CTRIP COM INTERNATIONAL 1% BDS 01/07/20 USD1000
  • 3.4% UPL-CLSA 14-19
  • 3.3% MERRILL-CW19 INDIABULLS HO
  • 2.7% IWG PLC