+41 91 960 99 60 info@swisswealth.ch

The fund aims to deliver positive performance in the medium term through a diversified multi-asset class portfolio which reflects the invest manager’s view on global markets. The fund invests more than 51% of its assets in third parties funds or ETFs UCITS compliant. The fund may hold no more than 70% of its assets in equities or equity-related securities. The fund may use derivatives in order to achieve investment gains, reduce risk or manage the fund more efficiently.

80General Data

Domicile: Luxembourg
Legal Structure: SICAV Ucits V
Fund Manager: SWM SA
Custodian: State Street, LUX
Reference Currency: EUR
AuM: EUR 8.58 M
NAV Frequency: Daily
Registered in: LUX, CH, IT
Management Fee: 2%
Performance Fee: 10% HWM
NAV as at 30.12.2022: EUR 93.61
ISIN: EUR (A): LU0988534649
CHF (A) Hedged: LU0988535026
USD (A) Hedged: LU1057883552

Share Type: Accumulation

Investor’s profile

Targeting investors who expect positive returns in the medium term through active asset allocation
decisions and a complete multi-asset class portfolio solution.

Fund manager insights

In December 2022, the Explorer Fund of Funds generated a negative return of -0.64%. The final month of the year saw negative returns for equities, commodities, and slightly negative returns for bonds despite a better-than-expected US inflation print. Global equities fell by 3.9%, while global government bonds declined by 1.6%. Monetary policymakers continued to raise their respective interest rates and reiterated their hawkish policy stance increasing the uncertainty over the duration and severity of the economic slowdown that started in 2022. US economic data were mixed over the past month: the flash S&P Global PMIs contracted further, and the US CPI data was printed below expectations for a second consecutive month. Eurozone economic data were generally better than expected in December. Both eurozone and UK headline inflation rates turned lower while the ECB raised its deposit rate by 50bps to 2%, with a hawkish Lagarde announcing a balance sheet run-off from March 2023 onwards. In Asia Chinese stocks rose as Beijing’s rapid easing of coronavirus pandemic restrictions raised growth expectations. The Bank of Japan kept its main policy rate on hold but it surprisingly adjusted its Yield Curve Control policy. Commodities had a weak month despite gold was up by 3.1%. For January, we’ll remain quite conservative keeping the equity exposure around 30% because in our opinion it is not already the time to be more aggressive. Uncertainty remains high but there are some reasons for optimism going into 2023.