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.
General Data
Domicile: Luxembourg
Legal Structure: SICAV Ucits V
Fund Manager: SWM SA
Management Company: ADEPA SA
Custodian: State Street, LUX
Reference Currency: EUR
AuM: EUR 6.42 M
NAV Frequency: Daily
Registered in: LUX, CH, IT
Management Fee: 2%
NAV as at 30.04.2022 EUR 99.09
ISIN:
EUR(A): LU0417110276
CHF(A) Hedged: LU0681572425
Share Type: Accumulation
Investor’s profile
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
April was a difficult month for risk assets as it saw equity markets volatility continue and proved to be the worst month for a bond/stock portfolio in over two decades. The S&P 500 lost 13.3% year-to-date due to several headwinds as less favorable conditions with inflation rising, major geopolitical concerns and Chinas
Covid new lockdowns are all pointing to an upcoming economic slowdown. Additionally, central banks are not investor-friendly anymore. The hawkish rhetoric and the ensuing increase in bond yields are weighing on equity valuations. More than ten 25 bps Fed hike move are priced in for 2022. The prospect of tighter monetary policy reflected on bonds. Treasuries lost ground for a 5th consecutive month. The 10-year yield soared 54 bps and the 2 year10 year curve steepened. When adding a poor visibility on Russias war in Ukraine the picture appears bleak as the sanctions have negative consequences on commodity supplies and thus further increase risks for inflation. Even US earnings season couldnt lift investors mood, as guidance appears the weakest since the last two years. The companies which have been guiding downward have been punished hard by the market. Nasdaq is now in bear market territory with a 24% decline from peak. Amongst the biggest losers the FAANG index shed 18.9%. One of the factors behind lower guidance is the strong dollar effect. At the end of the month VIX jumped by near 50%. NAV closed
at 99.09 with a monthly -8.96%.