The fund aims to provide capital growth by investing in worldwide equities without geographical or sector limits. The fund invests more than 51% of its assets in equities or equity-related securities. The fund seeks to generate a positive return during rising equity markets passing to a defensive approach during extended bearish trends. The fund may use derivatives in order to achieve investment gains, reduce risk or manage the fund more efficiently.
General Data
Domicile: Luxembourg
Legal Structure: SICAV Ucits V
Fund Manager: SWM SA
Custodian: State Street, LUX
Reference Currency: EUR
AuM: EUR 17.73 M
NAV Frequency: Daily
Registered in: LUX, CH, IT
Management Fee: 2%
Performance Fee: 20% HWM
NAV as at 31.03.2021: EUR 103.86
ISIN: EUR (A): LU0451080401
Share Type: Accumulation
Investor’s profile
Targeting investors with a superior risk tolerance who expect capital growth over the business cycle, investing primarily in global equites.
Fund manager insights
During March 2021 the Explorer Equity Fund was up 3.48%, while in the same period the MSCI World Index gained 3.11%. Geographically March was a positive month especially for European Blue Chips (+7.78%) while Emerging Markets continued the correction started in February (-1.70%). In US the investors favored Value stocks instead of those belonging to the Growth sector: in fact the Nasdaq Comp. Index closed the month only slightly positive (+0.41%) versus a very good performance achieved by the Dow Jones Industrial Index (+6.62%). During March we decided to reduce significantly the weight of some third party funds diversifying much better the exposure in this kind of products taking advantage of the correction that occurred in some areas such as clean energy, China and the Emerging Markets in general.
Stock markets remain quite optimistic betting on the fact that the vaccination campaign, despite all the difficulties it is encountering worldwide, will be able to bring economies back to normal by the end of 2021. As a consequence in our opinion the favour of investors towards Value stocks instead of Growth should continue for the next months as well as we believe that the recent correction on Emerging Markets is a buy opportunity, especially for China. For what concerns the currency exposure we reduced the weight of US Dollar to less than 10% as we expect the Eur/Usd to come back above 1.20 very soon.