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

16.84 %

1 Year rank in sector

2/77

Sector

FO Convertible

Yield
-
Fund size

£ 474.2 m

FE Risk score

107

NAV
-
Discount/Premium
-
Gearing
-

Top in sector

Holdings snapshot

  • Money Market
    22.9%
  • India
    20.8%
  • China
    20.7%
  • Belgium
    14.9%
  • France
    5.8%
  • Financials
    31.7%
  • Money Market
    22.9%
  • Consumer Discretionary
    16.7%
  • Materials
    12.6%
  • Industrials
    9%
  • Convertibles
    31%
  • Money Market
    22.9%
  • Options
    17.6%
  • Warrants
    16.9%
  • International Equities
    11.6%

Performance vs. Sector

Cumulative performance

1m6m1y3y5y
Fund2.29 %5.92 %16.84 %16.73 %50.02 %
Sector0.89 %3.51 %6.36 %13.69 %27.3 %
Rank within sector1 / 8015 / 782 / 7723 / 632 / 52
Quartile th1 st1 st1 st2 nd1 st

Calendar performance

YTD-20172016201520142013
Fund19.25 %-9.05 %1.56 %9.17 %20.03 %
Sector5.52 %0.75 %2.92 %2.27 %11.66 %
Rank within sector1 / 7876 / 7655 / 683 / 603 / 53
Quartile th1 st4 th4 th1 st1 st

Risk statistics

Alpha-2.02
Beta1.76
Sharpe-0
Volatility11.47
Tracking error7.52
Information ratio-0.02
R-Squared0.71

Price movement

52 week high325.6
52 week low265.23
Current bid price0
Current offer price0
Current mid price326.72

Holdings by region

  • 22.9% Money Market
  • 20.8% India
  • 20.7% China
  • 14.9% Belgium
  • 5.8% France
  • 4.1% USA
  • 3.7% UK
  • 2.9% Germany
  • 2% Norway
  • 1.4% Hong Kong

Holdings by sector

  • 31.7% Financials
  • 22.9% Money Market
  • 16.7% Consumer Discretionary
  • 12.6% Materials
  • 9% Industrials
  • 5.2% Health Care
  • 2% Technology

Holdings by asset type

  • 31% Convertibles
  • 22.9% Money Market
  • 17.6% Options
  • 16.9% Warrants
  • 11.6% International Equities

Individual holdings

  • 9.9% FORTFINLUX SA FLTG RATE CNV BDS 7/2049 EUR250000 REG`S
  • 8.4% FUFENG GROUP
  • 8.4% VIPSHOP HLDGS LTD 1.5% CNV BDS 15/03/19 USD2000
  • 5% FORTIS BANK SA CNV SUBORD FLTG RATE NTS(FORTIS) EUR
  • 4.3% 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
  • 3.2% MERRILL-CW19 INDIABULLS HO
  • 3.2% UPL-CLSA 14-19
  • 2.4% AIRBUS 30/07/19 45 EUR OPTION (BARC)