Factsheet: December 2021
Strategy
The Fund's objective is to achieve optimal capital growth over the long term through the active management of a portfolio of large-capitalisation stocks based primarily in a member country of the European Union or the European Economic Area.
The investment strategy is based on a fundamental analysis. The stock selection process is based on the activity of companies, their governance, financial structure, and development prospects. The fund aims to identify companies with dominant positions, high reinvestment capacity, and low debt.
The recommended investment horizon is 5 years. The reference currency is the Euro.
Markets
The indexes performed very well in December, indicating their confidence in the ability of governments to control the Omicron wave and in the solidity of the recovery of economic activity, which is increasingly confirmed.
The Euro Stoxx 50 gained +5.79%, the CAC 40 +6.43% and the Stoxx Europe 600 +5.37%. The ECB has announced that it wants to follow the FED in monetary normalization in order to reduce inflation and it seems that the markets have now absorbed these announcements.
In general, all sectors rose during the month, with Travel & Leisure leading the way with +12.18% and Real Estate closing the gap with +1.45%.
The Fund
The fund slightly underperformed the major indices during the month with an increase of +4.78%.
Simcorp rose by +11.76% following the announcement of a partnership with Domos FS, which was welcomed by the markets. Halma gained +8.55% and Coloplast +7.92% to end the year at +23%.
Conversely, only Ferrari posted a slight decline over the month with a decline of -1.30%.
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