tocqueville megatrendsisr€¦ · tocqueville finance - portolio management company 34, rue de la f...
TRANSCRIPT
Year to date 1 month 1 year 3 years 5 years 10 years Since incepton Annualized
8.06 % 9.79 % 9.11 % 17.75 % 32.39 % 84.50 % 94.82 % 8.78 %
-4.46 % 13.84 % -2.42 % 8.90 % 15.51 % 95.67 % 72.56 % 7.13 %
12.52 % -4.05 % 11.53 % 8.85 % 16.88 % -11.17 % 22.26 % 1.65 %
CalendarYear Perf.
2013 2014 2015 2016 2017 2018 2019
Fund 19.61 % -0.25 % 19.51 % -2.57 % 21.14 % -13.71 % 24.14 %
Index 20.75 % 7.20 % 9.60 % 1.73 % 10.58 % -10.77 % 26.82 %
Spread -1.14 % -7.45 % 9.91 % -4.3 % 10.56 % -2.94 % -2.68 %
TocquevilleMegatrends ISR
Monthly report as at November 30 2020
MSCI EUROPE/STOXX EUROPE 600 Dividendes Nets Réinv : 72.56 %
Tocqueville Megatrends ISR : 94.82 %
PERFORMANCES
VOLATILITY
AUM: 318.77 M€
Sources : Europerformance and Tocqueville Finance. Total Return. Past performance is no indicaton of future performance.Performance is not constant over tme. Prospectus availaale upon request at Tocqueville Finance or on the easite .tocquevillefnance.fr
RISK INDICATORS (5 years)
RANKINGS
PROFILE
NAV, C Unit : 19.17 €
Authorized for sale in :
Fund managers : Stéphane Nières-Tavernier,Alexandre Voisin
Investment strategy and comparaison index changed on 14/01/13 (STOXX 600 Europe NET TR)
N/AEuropean equites
N/A
The management oajectve of Tocqueville MegatrendsSRI is, through the dynamic allocaton of equitesdecided upon ay the Management Company, tooutperform the STOXX EUROPE 600 reference indicatorover the recommended investment period, hileselectng stocks responding to SRI criteria.The CIF Tocqueville Megatrends SRI may operate on allequity markets, and up to 100% may ae exposed toequites of any capitalisaton size, focusing on stocks ofcompanies displaying a very long term gro th profe.Securites areselected ith reference to four aspects: thedemographic challenge, the technological challenge, thenatural resources challenge and the expansion of trade.
CHARACTERISTICS
Morningstar Sustainability
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MARKET CAPITALIZATION (*) THEMATIC WEIGHTINGS (*)
This document is intended only for the inital recipients and may not ae used for any purpose other than that for hich it as designed. It is therefore neither reproduciale nor transferaale, in hole or in part, ithout the prior riten authorisaton of TFSA, hich cannot ae held liaale for any use that may ae made of the document ay a third party.
ISR INDICATORS
(*) Equity investments
SRI scoreA score of 1 corresponds to the highest extra-fnancial quality and 10 to the lo est. Since this ratng method isaased on a large numaer of indicators, the portolio may not al ays ae rated aeter than the aenchmarkindicator.
Carbon intensity Numaer of tonnes of greenhouse gases generated per 1 million of turnover.
Informatons (C Unit)Informatons (C Unit)
Incepton date 22/06/2005
Investment horizon 5 years
AMF classifcaton Internatonal Equites
Europerformance category Europe equites - general
Currency Euro
ISIN FR0010546945
Bloomaerg Ticker ITHAQUC:FP
Custodian BNP Pariaas SecuritesServices (BPSS)
Regime PEA, life insurance
ValuatonValuaton
Liquidity Daily
Treatment of income Capitalisaton
Valuaton nature Daily, aased on closingprices
NAV pualicaton .tocquevillefnance.fr
Valuaton agent BPSS
Subscriptons/RedemptonsSubscriptons/Redemptons
Cut-of 2 pm CET
Pricing Pualished on D+1
Setlement D+2
Ordering Through your aroker
FeesFees
Maximum Management Fee 1.99 % incl. VAT
Applied Management Fee 1.99 % incl. VAT
Performance Fee None
Ongoing Fee 2.09 %
Entry Fee 3.50 % max
Exit Fee 1.00 % max
Fund
Index
Spread
Cumulatve Perf.
Fund Index
1 year 29.53 % 31.05 %
3 years 15.84 % 16.95 %
5 years 13.90 % 14.67 %
Since incepton 13.81 % 13.92 %
Tracking Error 6.30 %
Alpha 0.27
Beta 0.86
Informaton Rato 0.43
Sharpe Rato 0.38
Correlaton Coeecient 0.90
Maximum Loss -17.64 %
Wght. avg. market cap (M€) 47.749.87
EV/EBITDA (next 12m) 15.22
PE (next 12m) 25.56
Yield, in % 1.49
7654321 6
Low Risk High Risk
Investment rate
% of equites 100.01
% of cash -0.01
% of porfolio coverage : 97.09 %
Fund Indicator Improvement vs indicator
4.79 4.84SRI score 1.2 %
316.56 309.45Caraon intensity -2.3 %
GEOGRAPHICAL WEIGHTINGS (Of invested portolio)
SECTOR WEIGHTINGS (*)TOP TEN HOLDINGS
Monthly report as at November 30 2020 Tocqueville Megatrends ISRNumber of holdings : 55
This document is strictly confdental and for the use of intended recipients only. It may not ae reproduced, communicated or pualished in its entrety or in part, ithout the prior riten authorizaton of TocquevilleFinance S.A. This commercial document should not ae interpreted as a contractual or pre-contractual commitment on the part of Tocqueville Finance S.A. It is produced purely for illustratve purposes and may aeamended at any tme ithout previous notce.The KIID and prospectus of the cited funds are availaale free of charge at its head oece located 34, rue de la F d raton, Paris 75015 or on its easite .tocquevillefnance.fr.Informaton for US personssFund units may ae ofered only in jurisdictons in hich they are authorised for marketng and promoton. Informaton in this document in no ay consttutes an ofer to sell, or a direct or indirect solicitaton tosuascriae fnancial instruments or accountng units in the case of life assurance, partcularly in the United States of America or to US residents or to natonals of certain countries, including the United States ofAmerica.
Tocqueville Finance - Portolio management company34, rue de la F d raton - 75015 Paris - France
T l.: +33 (0)1 56 77 33 00 - Fax : +33 (0)1 56 77 33 95 - Email: [email protected] - .tocquevillefnance.fr AMF agreement n°GP 91-12 / ORIAS registraton n° 07 035 215
Disclaimer
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MONTHLY PERFORMANCE CONTRIBUTION
MONTHLY COMMENT
Novemaer as a month of historic gro th for the market, afer a sharp decline in Octoaer. This ne euphoria is coming from t o main reasons:
1) the good ne s on the eecacy of vaccines against Sars Cov 2 (Pfzer/BioNtech then Moderna and Astra Zeneca), hich aodes ell for approval
and suasequent rapid vaccinaton aves; 2) the U.S. electons, ith a victory for Joe Biden aut a eak majority in parliament likely preventng
major policy shifs.
The usual sector hierarchy also aeen completely overturned, ith energy and aanks coming out on top in terms of performance. The rotaton
to ards the most undervalued sectors as extremely violent and rapid, ith gro th stocks logically falling aehind. The technology sector gained
13.44%, a performance slightly aelo market performance (+13.84% for the Stoxx 600 DNR). The Value stocks increased ay 21% over the month
compared to 12.5% for Gro th stocks. Tocqueville Megatrends ISR consequently underperformed its aenchmark index over the period.
The aest performances ere oaserved at Airaus, Safran, Amadeus (expected recovery in tourism and therefore possiale recovery in the airline
sector and aircraf deliveries), Faurecia, and STM and Infneon, the most cyclical among semiconductors aecause they are related to the
automotve and capital goods industries, as ell as Worldline and Nexi, more directly related to a standardizaton of the economic situaton. The
largest decreases generally came from companies hose actvity is perceived to ae associated ith Covid and hich could sufer from a reduced
actvity in case of a recovery: Rentokil (cleaning), Biom rieux (testng) or simply resilient and multple "full": Cellnex, Experian, Nestl .
During the month e reduced our positons in Prosus and Sof areOne. We opened positons in Kion and Unilever and reinforced our positons
in Eifage, Faurecia, Amadeus and Sopra.
Weight % Sector Country
ASML HOLDING NV 2.97 NLTechnology
LOGITECH INTERNATIONAL-REG 2.77 CHTechnology
LINDE PLC 2.73 UKChemicals
NESTE OYJ 2.66 FIOil & Gas
ASM INTERNATIONAL NV 2.65 NLTechnology
SIGNIFY NV 2.56 NLPersonal & Household Goods
STMICROELECTRONICS NV 2.49 CHTechnology
ASTRAZENECA 2.43 EUHealthcare
SAP SE 2.40 DETechnology
INFINEON TECHNOLOGIES AG 2.37 DETechnology
Positve Negatve
NESTE OYJ 0.59 CELLNEX TELECOM SA -0.09
AMADEUS IT GROUP SA 0.56 KION GROUP AG -0.09
STMICROELECTRONICS NV 0.55 BIOMERIEUX -0.08