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Overview

  • The fund is managed by Perdurance Asset Management Limited.

Share Class

NAV

Cumulative Performance (%)

Fund Inception

Daily Monthly Ytd 1Yr 3Yr 5Yr Incept. Incept.Date

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.


Strategy & Manager

Funds Strategy

The investment objective of the Sub-Fund is to seek long-term capital appreciation.

The Sub-Fund intends to invest its assets principally in equity securities of European companies or non European companies whose shares trade on a European exchange or that the Investment Manager determines are otherwise actively traded in Europe.

Some of the factors considered by the Sub-Fund in its selection of investments are the relative valuation of a company, the liquidity of that company, and the contribution that the stock would make to the conceptual diversification (and sectors, styles and geographies) of the portfolio.


Key Persons

Ivan Briery Founder, CEO & CIO 

Ivan founded and co-managed Voltaire from 1998-2005, and prior to that was a Soros partner. He was on sabbatical until founding Perdurance in 2014.

Ivan started his career as an equity analyst and portfolio manager with a French stockbroker in 1989. He joined Soros Fund Management in 1994, and subsequently became a partner in the business. In 1998, he left Soros Fund Management and co-founded Voltaire Asset Management Limited, which returned assets to investors in 2005 after seven years of very successful investment performance. Until 2014, Ivan was on an extended sabbatical.

 


Statistics & Commentary

Performance

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.

Investment Manager's Commentary

as of

Fund

The main alpha contributor in November was Alstom (trains and railroad equipment), adding 0.7% of alpha after the company reported their Q3 results, confirming to be on track with the existing business plan. Gerresheimer (containers and packaging) contributed 0.6% of alpha, continuing the rally started early September. Rheinmetall (defence) provided 0.6% of alpha after the company released good results and confirmed their guidance.

On the negative side, Teleperformance (customer services) detracted 1.2% of alpha as the Colombian government launched an investigation related to working conditions at the company. Teleperformance has since reached an agreement with unions. African Oil (oil exploration) removed 1.1% of alpha despite results in line with market expectations, due to weak oil prices. Leonardo (defence) also cost 0.8% after the company published good results and reiterated their 2022 guidance but declined to comment on the 2023 outlook before the full year results.


Facts & Documents

Facts

Fund Domicile: Luxembourg

Fund Type: UCITS SICAV

Base Currency: EUR

Depositary, Administrator, Transfert Agent: BNP Paribas Securities Services (LU)

Dealing: Each day with a 1-day notice

Cut-off time: 12 pm CET

Management Company: Alma Capital Investment Management

Investment Manager: Perdurance Asset Management Limited

Countries where the fund is registered:
Luxembourg, France

Sustainability-related disclosures:
The information related to the integration of sustainability risks and to the potential adverse sustainability impacts at the sub-fund level can be found in the prospectus of the Fund.

Identifiers:

Institutional EUR Capitalisation share class
ISIN: LU1687386257   Ticker: AGUIEHA LX    Launch: 11 Jun 2021

Documents

PROSPECTUS
  1. ACIF Prospectus
KIIDS Other sub-funds and other languages
available upon request