|As of 18 October 2018
|Global Small-Cap Fund||€ 171.18|
|Global Small-Cap Fund||-3.7%||-1.6%||10.3%||13.6%|
1 Average annualised total return
2 Average annualised total return since Fund launch 30/7/2014
YTD: Year To (last working day) Date
|Prospectus||Important Fund Risks|
The Fund’s NAV is the value of a single share and is computed daily using closing prices as of the NYSE closing time – usually 10:00 p.m. Central European Time. Securities for which prices are not readily available (such as when highly volatile global markets cause extreme distortions) are valued at a fair value under the Funds’ Valuation principles as described in the Terms & Conditions of the Fund’s prospectus.
The target of the fund is to achieve a long term total return in excess of a global small-cap index*, also known as ‘alpha’, even though the focus is on absolute return and commensurate risk we take. We require asymmetric risk/reward potential: Each investment must have at least twice as much upside potential as downside risk.
The value added of our investment strategy can best be judged over a time period of 5-7 years, which is generally considered a ‘full market cycle’, or a stock market moving from peak-to-peak. Successful investing is about beating the market over time, not every time.
In our pursuit to identify highly attractive investment opportunities, we are geographically unrestricted. Currency exposure will ordinarily remain unhedged.
* MSCI World Small-Cap Total Return Net index in Euro