Document 6561524
Transcription
Document 6561524
MM / CASH FUNDS BONDS ABSOLUTE RETURN BALANCED EQUITIES FUND OF FUNDS SPECIAL PURPOSE 06 14 (LF) Fund of Funds - REAL ESTATE Investment Objective Investment Commentary The investment objective of the Sub‐Fund is to provide long term capital appreciation. The Sub‐Fund invests its assets primarily in units of UCITS and/or other UCIs as described in art 41 (1) indent (e) of the 2010 Law, which invest in equity securities of companies in the real estate/property industry (REITS, etc.) primarily located in developed countries, with emphasis in North America/US, or that derive a significant portion of their income from those respective markets. Units of other UCIs as defined above may not exceed 30% of the Sub‐Fund’s net assets as described in art 46 (2) of the 2002 Law. Target UCIs may also be open‐ended Exchange Traded Funds (ETF’s) as defined above traded in any suitable market. During Q2‐2014, major markets rallied. Global REITS outperformed global equities with the FTSE EPRA/NAREIT Developed Index gaining +7.24%. Dev Asia outperformed during the period with the FTSE EPRA/NAREIT Dev Asia gaining +8.66%. FTSE EPRA/NAREIT N.America gained +6.69% and FTSE EPRA/NAREIT Dev Europe gained +6.37% in Euro terms. Secondarily, the Sub‐Fund may invest in units of UCITS and/or other UCIs as defined above that mainly invest in global equity securities, global equities related to the real estate industry and Global REITS. Additionally, the Sub‐Fund may invest in units of UCITS and/or other UCIs as defined above that invest in bank deposits and money market instruments and transferable debt securities. In case where indirect investments through UCITS and UCIs as defined above are not possible or too costly, or restricted by target UCI size, the Sub‐Fund can directly invest in equity securities or convertible securities linked to eligible assets or other financial instruments linked to eligible assets issued by companies in the real estate industry in the US and/or Europe. Such direct investments cannot exceed in aggregate 20% of the Sub‐Fund’s net assets. Investor Profile The Sub‐Fund has a high‐risk profile and is addressed to investors who want high return potentials through participating in a fund whose assets are invested in a diversified portfolio of units of various UCITS and/or other UCIs as described in art 41 (1) indent (e) of the 2002 Law, of the Real Estate market, and seek to benefit from their active management. Funds Facts Structure UCITS IV Luxembourg Total NAV Size 3.958.930,95 € Risk Class Benchmark ‐ 50% FTSE EPRA/NAREIT Developed Index (ENGL Index) ‐ 50% FTSE EPRA/NAREIT N.America Index (EGNA Index) Liquidity Mngnt Co Investment Manager Custodian/Administrator Auditor Daily Eurobank FMC‐LUX Eurobank Asset Management MFMC Eurobank Private Bank Luxembourg S.A. PricewaterhouseCoopers Share Classes Currency ISIN code Bloomberg ticker MorningStar Rating Inception date Assets ( class currency) NAV Min NAV Max NAV Entry fee Redemption fee Conversion fee Redemption scheme Eurobank Interamerican EUR LU0517847660 EEFOFRE LX 2‐Star 22/6/2010 1.593.455,65 13,3499 11,5504 13,4504 0% 0%‐1%* EUR LU0517850029 ELFRSIN LX 2‐Star 8/12/2010 1.430.847,69 13,3496 11,5501 13,4501 1% 0% T+3 T+3 Postbank Eurobank (USD) Postbank (USD) Bancpost EUR USD LU0517849104 LU0517848049 ELFREPB LX EEFFRED LX 3‐Star 3‐Star 28/9/2010 9/7/2010 18.289,35 1.209.145,86 13,3769 18,2512 11,5738 15,6957 13,4776 18,3670 2% 0% 0%‐1%* 0%‐1%* Difference in Entry fees T+5 T+3 USD LU0517849369 ELFREPU LX ‐ 28/9/2010 30.883,96 18,3131 15,7490 18,4295 2% 0%‐1%* EUR LU0517849526 ELFREBP LX 3‐Star 29/9/2010 8.423,62 13,3375 11,5409 13,4379 0% 0%‐2%* T+5 T+5 *Depending on the investment amount **Depending on the duration of the investment period More Information www.eurobankam.gr © 2014 Morningstar UK. All Rights Reserved. Morningstar Ratings as of 31 March 2014 the information contained herein: (1) is property to Morningstar, (2) may not be copied (save (i) as incidentally necessary in the course of viewing it on‐line, and (ii) in the course of printing off single copies of web pages on which it appears for the personal non‐commercial use of those authorised to view it on‐line), adapted or distributed; and (3) is not warranted to be accurate, complete or timely. This Morningstar ‐ sourced information is provided to you by Eurobank Ergasias and is at your own risk. You agree that Morningstar is not responsible for any damages or losses arising from any use of this information and that the information must not be relied upon by you the user. Eurobank Ergasias SA informs you as follows: (i) no investment decision should be made in relation to any of the information provided other than on the advice of a professional financial advisor; (ii) past performance is no guarantee of future results, and (iii) the value and income derived from investments can go down as well as up. UCITS DO NOT HAVE A GUARANTEED RETURN AND PREVIOUS PERFORMANCE DOES NOT GUARANTEE FUTURE RETURNS MM / CASH FUNDS BONDS ABSOLUTE RETURN BALANCED SPECIAL PURPOSE EQUITIES 06 14 (LF) Fund of Funds - REAL ESTATE Risk Statistics Fund Returns Standard Deviation 9,60% Cumulative Returns per share class Var 6,60% Share Classes Standard Deviation calculations have been performed using a data sample of the last 12 month. The VaR analysis is based on the Historical Simulation method using the 99th percentile as confidence interval and historical data of the last 12 months. The VaR level refers to the one month VaR. 3 months y‐t‐d 1 y Since Inception Eurobank +7,53% +12,82% +6,48% +33,50% Eurobank (USD) +6,52% +11,73% 0,79% +51,82% Postbank +7,53% +12,81% ‐6,39% +36,32% Postbank (USD) Bancpost +6,52% +7,53% +11,73% +12,81% 0,79% ‐6,40% +38,65% +36,41% Interamerican +7,53% +12,82% ‐6,39% +29,28% Portfolio breakdown Annual Returns per share class Share Classes 2013 2012 2011 2010 Eurobank ‐3,55% +15,87% +0,99% +4,85% +16,64% Eurobank (USD) +0,82% +18,16% ‐2,21% Postbank ‐3,55% +15,89% +1,02% +7,02% Postbank (USD) Bancpost +0,81% ‐3,55% +18,35% +15,89% ‐2,14% +3,58% +6,28% +4,45% Interamerican ‐3,55% +15,88% +0,98% +1,53% Major Holdings Based on the analysis of investments of the funds included in the FOF portfolio MORGAN STANLEY SICAV ‐ US PROPERTY FUND NEUBERGER BERMAN US REAL ESTATE MORGAN STANLEY GLOBAL PROPERTY (Z$‐Acc) JANUS CAPITAL GLOBAL RE‐I$IN ISHARES EPRA US PROPTY YLD LYXOR ETF FTSE EPRA/NAREIT United States ING (L) INV ‐ GLOBAL RE (I$) CASH IN USD (EUROBANK GREECE) ING L INV‐EUROPE RE EST‐I LYXOR ETF MSCI WLD REAL EST Contact Eurobank Asset Management M.F.M.C. 10 Stadiou Str, Athens, 10564, Τel: +30 210 33 52 800, Fax: +30 210 33 52 890 Email : [email protected] Website : www.eurobankam.gr FUND OF FUNDS www.eurobank.gr Or call Europhone Banking +30 210 95 55 000 or +30 801 111 1144 UCITS DO NOT HAVE A GUARANTEED RETURN AND PREVIOUS PERFORMANCE DOES NOT GUARANTEE FUTURE RETURNS 17,86% 17,82% 15,69% 14,78% 12,29% 5,46% 4,70% 3,18% 2,83% 2,73%