The fund aims to provide capital growth by investing in Swiss equities without capitalization or sector limits and with a bias over small & mid caps. The fund invests more that 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 bearish trends in all time horizons. The fund may use derivatives in order to achieve investment gains, reduce risk or manage the fund more efficiently and may have a net equity exposure for more than 100%.
Legal Structure: SICAV Ucits V
Fund Manager: SWM SA
Custodian: State Street, LUX
Reference Currency: CHF
AuM: CHF 19.23 M
NAV Frequency: Daily
Registered in: LUX, CH, IT
Management Fee: A:0.9% B:1.2% C:0.4%
Performance Fee: 10% HWM
NAV as at 30.06.2021: CHF 111.85
CHF A Ist: LU1435247876
CHF B Retail: LU1435247959
CHF C Ist: LU1435248098
Share Type: Accumulation
Targeting investors with a superior risk tolerance who expect capital growth over the business cycle, investing primarily in Swiss equities.
Fund manager insights
During June 2021, the Swissness Equity Fund was up 1.15% while in the same period the Swiss Performance Index gained 4.62%. The fund started the month with a net exposure to equities around 60% which was gradually increased to 99% in the first half of the month. The underlying equity portfolio remained stable; it was only increased the position in Swissquote Group now weighting around 3%.
During June 2021 we decided to remain quite conservative for the first two weeks of the month, partially hedging the fund using as usual the SMI and SMIM Index futures. However, during this period our quantitative models began to suggest the opportunity to be fully invested following the indication of a return of strength of “Growth” equities which proved to have strong correlation with small and mid-caps Swiss equities. According to this indication we brought the net exposure of the fund to 100%. We believe that in a very complicated international economic context where unemployment and consumer confidence data as
well as infections and issues linked to vaccines could impact the markets, Switzerland should continue to be still favoured by international investors. For the next weeks we will continue to carefully monitor the international context with our “Swissness” approach being ready to promptly act on the net equity exposure in the same ways used in 2020 which led to excellent results in terms of risk-adjusted performance.