Quality Growth Boutique US Equities

Vontobel Fund - US Equity

ISIN
LU0278092605
Valor
2870679

Fund strategy

Investment objective

This equity fund aims to provide strong returns over a market cycle with considerably less business risk than the US equity market.


Key features

The fund invests in US-domiciled domestic and multinational companies. It aims to invest in a concentrated portfolio of stocks of high-quality growth companies at sensible prices. The selected companies should exhibit relatively stable and predictable earnings growth that can be sustained for extended periods.


Approach

The highly experienced and stable investment specialist team adheres to a clearly defined, bottom-up approach that focuses on in-depth company research. The team manages the portfolio actively with the aim to participate in rising markets and protect capital during declining markets.


333.91
NAV
4.39%
Performance YTD
3 stars
As at Sep 29 2020 As of Aug 31 2020

Why invest?

Our US Equity Fund is a concentrated portfolio of our best ideas across US-domiciled local and multinational companies. Our approach is based on returns being driven by a long-term investment in companies with relatively stable and predictable earnings growth that can be sustained for extended periods of time. The strategy draws on the expertise of our boutique’s exclusive 30 strong investment team. ESG is integral to our approach given our focus on relatively stable and predictable ‘quality’ earnings growth combined with long-term holding periods. While the strategy is benchmark agnostic, performance is shown relative to the S&P 500 Index.

Key Features

  • Clearly defined bottom-up approach that aims to identify the best investment opportunities in the US
  • Designed to participate in rising markets and protect capital during declining markets
  • Long-term track record with lower risk than the market

“Our strategy is tied to the long-term structural growth stories of businesses that have market power, strong brands and management teams that take calculated risks.”

Matthew Benkendorf, Chief Investment Officer Quality Growth Boutique

Investment process

Many asset managers follow a high quality growth style, but what sets the Vontobel Quality Growth Boutique apart? We have spent decades building our team and distinct investment approach. Director of Research Igor Krutov discusses the philosophy and mechanics behind our process.

infograph-product-us-equity-process_en

Investment opportunity

  • The US is a well-developed, deep, and liquid market with an abundance of diverse businesses.
  • US companies are some of the most profitable globally, with strong corporate governance and a focus on increasing shareholder value.
  • Many companies have diversified their risk by generating a significant portion of revenues and earnings from non-US sources.
  • In this rich hunting ground, we search for companies that are long-term compounders, offering good structural growth, but with downside protection in challenging times.

Investment team

  • 30 investment professionals averaging 21 years industry experience; includes 3 investigative analysts that help quantify risk
  • Managing the Vontobel Fund – US Equity for 30 years
  • Research analysts with diverse backgrounds and on-the-ground coverage

All data is as at Aug 31 2020 unless otherwise indicated.

Daily Performance

Periodic Performance

1M YTD 3Y 5Y SI
I USD 6.7% 8.6% 15.0% 15.1% 247.5%
Index 7.2% 9.7% 14.5% 14.5% 235.0%

Rolling Performance

Sep 01 2015 - Aug 31 2016 Sep 01 2016 - Aug 31 2017 Sep 01 2017 - Aug 31 2018 Sep 01 2018 - Aug 31 2019 Sep 01 2019 - Aug 31 2020
I USD 11.6% 19.0% 18.2% 10.6% 16.5%
Index 12.6% 16.2% 19.7% 2.9% 21.9%

Annual Performance

Risk Data

Portfolio
Volatility 16.3%
Sharpe ratio 0.8
Information ratio 0.1
Tracking error 3.7%
Jensens alpha 1.5%
Beta 0.9
[3 years annualized]
Past performance is not a reliable indicator of current or future performance. The return may go down as well as up, e.g. due to changes in rates of exchange between currencies. The value of invested monies can increase or decrease and there is no guarantee that all or part of your invested capital can be redeemed.

All data is as at Sep 29 2020 unless otherwise indicated.

Fund data
Portfolio Manager Matthew Benkendorf/Chul Chang
Fund Domicile Luxembourg
Fund Currency USD
Share Class Currency USD
End of fiscal year 31 August
Index S&P 500 - TR
Share Class Launch date Mar 16 2007
Distribution type Accum
Fund Registrations AT, CH, DE, ES, FI, FR, GB, IT, LI, LU, NL, NO, PT, SE, SG
Share Class Registrations AT, CH, DE, ES, FI, FR, GB, IT, LI, LU, NL, NO, SE, SG
Nav Information
Highest since launch 349.41
Lowest since launch 54.76
Fund volume in mln. USD 4,008.44
Share class volume in mln. USD 908.52
Fees And Expenses
Management fee 0.83%
TER 0.97% (Feb 28 2020)
Identifiers
ISIN LU0278092605
Valor 2870679
Bloomberg VONUVAJ LX
WKN A0MKHR
Parties
Depository RBC Investor Services Bank S.A.
Management Company Vontobel Asset Management S.A.
Swiss Paying Agent Bank Vontobel AG
Swiss Representative Vontobel Fonds Services AG

Available Share Classes

Share class Currency ISIN Distrib. Type Launch date Management fee TER TER Date
A USD LU0035763456 Dist Retail Nov 21 1991 1.65% 1.97% Feb 28 2020
AI USD LU1506584975 Dist Institutional Oct 28 2016 0.83% 0.97% Feb 28 2020
AN USD LU1683485764 Dist Retail Oct 10 2017 0.83% 1.15% Feb 28 2020
ANG USD LU1550199050 Dist Retail Jan 27 2017 0.55% 0.68% Feb 28 2020
B USD LU0035765741 Accum Retail Nov 21 1991 1.65% 1.97% Feb 28 2020
C USD LU0137005913 Accum Retail Jul 16 2007 2.25% 2.57% Feb 28 2020
G USD LU1428951294 Accum Institutional Jun 13 2016 0.55% 0.64% Feb 28 2020
H (hedged) EUR LU0218912151 Accum Retail Jan 10 2006 1.65% 2.03% Feb 28 2020
HI (hedged) EUR LU0368557038 Accum Institutional Jun 10 2008 0.83% 1.03% Feb 28 2020
HI (hedged) CHF LU0469626211 Accum Institutional Mar 23 2016 0.83% 1.03% Feb 28 2020
HN (hedged) EUR LU1683485848 Accum Retail Oct 10 2017 0.83% 1.21% Feb 28 2020
I USD LU0278092605 Accum Institutional Mar 16 2007 0.83% 0.97% Feb 28 2020
N USD LU0897674072 Accum Retail Mar 11 2013 0.83% 1.15% Feb 28 2020
Click here to see an overview of our shareclass naming convention.

* TER includes performance fee where applicable

All data is as at Aug 31 2020 unless otherwise indicated.

Major Sectors

Major equity positions

Stock Allocation
Microsoft Corp Shs 6.4%
Amazon Com Shs 5.1%
Berkshire Hathaway -A- Akt 4.3%
Alphabet Inc 4.0%
Mastercard Inc 4.0%
Johnson & Johnson Shs 3.8%
Visa -A- 3.6%
Unitedhealth Group Inc 3.5%
Mondelez International Inc 3.4%
PayPal Holdings Inc 3.0%
Document Date DE EN ES FR IT
Factsheets & Commentaries
Factsheet Aug 2020
Monthly Commentary Aug 2020
Quarterly Commentary Jun 2020
Brochures
Product Flyer Oct 2019
KIIDs
KIID Aug 2020
Legal Documents
AGM EGM invitation Jan 2020
Articles of Association Apr 2016
Notification to Investors Nov 2019
Sales Prospectus Dec 2019
Financial Reports
Annual Report Aug 2019
Dividend Payout Jan 2019
Semi-Annual Report Feb 2020
Dealing Information
Holiday Calendar 2020 Jan 2020
List of Active Retail Share Classes Dec 2018
Policies
Sanctioned Countries Sep 2016
Shareclass Naming Convention Nov 2019

Risks

  • Limited participation in the potential of single securities

  • Success of single security analysis and active management cannot be guaranteed

  • It cannot be guaranteed that the investor will recover the capital invested

  • Derivatives entail risks relating to liquidity, leverage and credit fluctuations, illiquidity and volatility

  • Price fluctuations of investments due to market, industry and issuer linked changes are possible

Morningstar rating: © 2020 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.