Quality Growth Boutique Emerging Markets Equities

Vontobel Fund - Emerging Markets Equity

ISIN
LU0278093082
Valor
2870698

Fund strategy

Investment objective

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


Key features

The fund invests across emerging markets. 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.


209.12
NAV
-1.06%
Performance YTD
4 stars
As at Aug 13 2020 As of Jun 30 2020

Why invest?

Our Emerging Markets Equity Fund is an actively managed, concentrated portfolio covering developing markets. 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 MSCI Emerging Markets Index.

Key Features

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

“Investing in EM can be a bumpy ride at times. The MSCI EM Index is not selective – it holds the full range of companies from true quality to the latest thing. This is why we believe exposure to EM equities warrants an active approach. We are highly selective when seeking to identify quality companies. As bottom-up stock pickers, we look to invest in leading franchises with deep competitive advantages, earnings stability, relatively predictable businesses, and the potential for many years of growth.”

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-emerging-markets-equity-process_en

Investment opportunity

Emerging markets (EM) have evolved rapidly over the past 20 years and we believe there are still many decades of growth potential ahead. Emerging market populations, as a group, are living on incomes well below those of the developed markets of Europe, the U.S. and Japan. But they are closing the gap. The World Bank expects there will be 150 million new middle income consumers a year in emerging markets by 2030. As incomes rise, new spending behavior becomes relatively predictable and should generate economic growth for many years. Companies that can consistently deliver the goods and services to increasingly wealthy and demanding EM consumers stand to profit.

Investment team

  • 30 investment professionals averaging 21 years industry experience; includes 3 investigative analysts that help quantify risk
  • Managing the Vontobel Fund – Emerging Markets Equity for more than 28 years
  • Research team has diverse backgrounds with 10 languages spoken

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

Daily Performance

Periodic Performance

1M YTD 3Y 5Y SI
I USD 9.2% -1.8% 1.5% 4.4% 107.6%
Index 8.9% -1.7% 2.8% 6.1% 60.2%

Rolling Performance

Aug 01 2015 - Jul 31 2016 Aug 01 2016 - Jul 31 2017 Aug 01 2017 - Jul 31 2018 Aug 01 2018 - Jul 31 2019 Aug 01 2019 - Jul 31 2020
I USD 2.3% 16.0% -0.7% 3.7% 1.5%
Index -0.7% 24.8% 4.4% -2.2% 6.5%

Annual Performance

Risk Data

Portfolio
Volatility 17.8%
Sharpe ratio negative
Information ratio negative
Tracking error 4.7%
Jensens alpha -1.2%
Beta 0.9
[3 years annualized]
Past performance is not a reliable indicator of current or future performance. Performance data does not take into account any commissions and costs charged when shares of the fund are issued and redeemed, if applicable. The return of the fund may go down as well as up due to changes in rates of exchange between currencies. The value of the money invested in the fund 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 Aug 13 2020 unless otherwise indicated.

Fund data
Portfolio Manager Matthew Benkendorf
Fund Domicile Luxembourg
Fund Currency USD
Share Class Currency USD
End of fiscal year 31 August
Index MSCI Emerging Market TR net
Share Class Launch date Mar 30 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 224.57
Lowest since launch 58.54
Fund volume in mln. USD 2,695.46
Share class volume in mln. USD 746.79
Fees And Expenses
Management fee 0.83%
TER 0.97% (Feb 28 2020)
Identifiers
ISIN LU0278093082
Valor 2870698
Bloomberg VONEMJA LX
WKN A0MKHT
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 LU0040506734 Dist Retail Nov 03 1992 1.65% 2.04% Feb 28 2020
AHI (hedged) EUR LU0858753618 Dist Institutional Dec 03 2012 0.83% 1.03% Feb 28 2020
AN USD LU1233654372 Dist Retail May 22 2015 0.83% 1.22% Feb 28 2020
AX CHF LU2086609422 Dist Jan 07 2020 0.52% 0.79% Feb 28 2020
B USD LU0040507039 Accum Retail Nov 03 1992 1.65% 2.04% Feb 28 2020
C USD LU0137006218 Accum Retail Jul 16 2007 2.25% 2.64% Feb 28 2020
G GBP LU0863298914 Accum Institutional Dec 19 2012 0.65% 0.74% Feb 28 2020
H (hedged) EUR LU0218912235 Accum Retail Dec 02 2005 1.65% 2.10% Feb 28 2020
H (hedged) CHF LU0469618119 Accum Retail Apr 11 2012 1.65% 2.10% Feb 28 2020
HC (hedged) EUR LU0333249109 Accum Retail Apr 15 2008 2.25% 2.70% Feb 28 2020
HI (hedged) EUR LU0368556220 Accum Institutional Jun 10 2008 0.83% 1.03% Feb 28 2020
HI (hedged) CHF LU0469618382 Accum Institutional Dec 19 2011 0.83% 1.03% Feb 28 2020
HN (hedged) GBP LU1179464281 Accum Retail Feb 11 2015 0.83% 1.28% Feb 28 2020
HN (hedged) CHF LU1683486069 Accum Retail Oct 10 2017 0.83% 1.28% Feb 28 2020
HN (hedged) EUR LU1179463556 Accum Retail Feb 11 2015 0.83% 1.28% Feb 28 2020
HS (hedged) CHF LU0773616858 Accum Institutional May 31 2012 0.00% 0.29% Feb 28 2020
I GBP LU0787641983 Accum Institutional Jun 11 2012 0.83% 0.97% Feb 28 2020
I USD LU0278093082 Accum Institutional Mar 30 2007 0.83% 0.97% Feb 28 2020
N USD LU0858753535 Accum Retail Dec 03 2012 0.83% 1.22% Feb 28 2020
S USD LU0209301448 Accum Institutional Feb 01 2005 0.00% 0.23% 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 Jul 31 2020 unless otherwise indicated.

Country Weighting

Major Sectors

Major equity positions

Stock Allocation
Tencent Holdings Ltd 7.7%
Alibaba Group Holding Ltd ADR 7.2%
Taiwan Semiconductor 6.2%
Naspers 3.8%
Unilever Nv 3.8%
Document Date DE EN ES FR IT
Factsheets & Commentaries
Factsheet Jul 2020
Monthly Commentary Jul 2020
Quarterly Commentary Jun 2020
KIIDs
KIID Jul 2020
Legal Documents
Articles of Association Apr 2016
Notification to Investors Jan 2020
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
  • 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

  • Investments in emerging markets may be affected by political developments, currency fluctuations, illiquidity and volatility

  • This investment style may lead to more heavily concentrated positions in individual companies or sectors

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