CB Accent LUX – Darwin Selection Euro is a UCITS V fund that seeks to provide a best-in-class performance through active and dynamic asset allocation, hedging and risk- minimization strategies, as well as active currency management. The portfolio creation is approached from a macro perspective in order to successively select the best possible candidates within the investable universe. The manager does not pursue passive index replication or benchmarking strategies and will allocate to the broadest spectrum of assets that fall within the scope of the fund.
Legal Structure: SICAV Ucits V
Fund Manager: SWM SA
Management Company: ADEPA SA
Custodian: State Street, LUX
Reference Currency: EUR
AuM: EUR 11.38 M
NAV Frequency: Daily
Registered in: LUX, CH, IT
Management Fee: 2%
NAV as at 30.06.2021 EUR 135.72
CHF(A) Hedged: LU0681572425
Share Type: Accumulation
Targeting investors who expect a long-term increase of their assets and wish to realize a regular revenue, but are ready to accept temporary price fluctuations.
Fund manager insights
In June, the US 10-year yields oscillated within a range with a downward bias. Yields drifted lower in the 1.43% area, suggesting upward pressure might be over for the time being. US financial markets benefitted from the supportive conditions on the yield front and volatility was subdued, remaining in the 15-17 range. Consequently, US indices registered new ATH. SP500 broke above 4300 mark, while Nasdaq recovered
its original strength and started to outperform traditional indices again. US Tech benchmark added more than 1000 points from a monthly low around 13500 it closed above 14500 marks. The FAANG components recovered ground. They now seem ready to give new satisfactions to global investors. The rotation out of high growth stocks appears to be reversed except in Europe, where main indices were lackluster and did
trade below ATH. European cyclical and value investments seem a bit tired. The inflation debate still holds centerstage. Based on the FED last comments, market participants think that US central bank will announce a modest tapering after the summer. Finally, the dollar benefitted strongly from new market expectations. EURUSD parity moved strongly in USD favor, reaching 1.1850. Consequently, gold collapsed. Its decline was stopped by support in the 1750 $ area. The manager sticked with its tactical asset allocation. Liquidity is still in the 10% area, while equity exposure has been increased to over 58% again. The NAV closed at 135.72 with a monthly +5,70%.