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AXA Rosenberg Global Emerging Markets Equity Alpha Fund

ISIN IE00B101JY64

Last NAV 17.2700 USD as of 18/02/20

Overview

Investment objectives

The aim of the Sub-Fund is to provide long-term capital growth above that of the MSCI Emerging Markets (EM) Index on a rolling three year basis.The MSCI Emerging Markets (EM) Index is designed to measure the performance of shares of companies listed on stock exchanges of emerging market countries in the world. The index's composition is available on www.msci.com.

Risk

Synthetic Risk & Reward Information scale

1 2 3 4 5 SRRI Value 6 7

The risk category is calculated using historical performance data and may not be a reliable indicator of the Sub-Fund's future risk profile. The risk category shown is not guaranteed and may shift over time. The lowest category does not mean risk free.

Why is this Fund in this category?

The capital of the Sub-Fund is not guaranteed. The Sub-Fund is invested in financial markets and uses techniques and instruments which may be subject to sudden and significant variation, which may result in substantial gains or losses.

Additional risks

Counterparty Risk: failure by any counterparty to a transaction (e.g. derivatives) with the Sub-Fund to meet its obligations may adversely affect the value of the fund. The Sub-Fund may receive assets from the counterparty to protect against any such adverse effect but there is a risk that the value of such assets at the time of the failure would be insufficient to cover the loss to the Sub-Fund. Stock Lending: the Sub-Fund may enter into securities lending agreements and as a result be subject to increased counterparty risk. Should the counterparty fail financially, the securities received will be called upon. However in the event of significant market volatility at the time of default the value of those securities received could fall below the value of the lent securities. In this instance the manager would not have sufficient cash to purchase the equivalent value of securities lent out which could result in a significant negative impact on the Sub-Fund's value. Risk linked to Method and Model: attention is drawn to the fact that the Sub-Fund's strategy is based on the utilisation of a proprietary share selection model. The effectiveness of the model is not guaranteed and the utilisation of the model may not result in the investment objective being met. Operational Risk: the Sub-Fund is subject to the risk of loss resulting from inadequate or failed internal processes, people or systems or those of third parties such as those responsible for the custody of the Sub-Fund's assets.

Investment horizon

This Fund may not be suitable for investors who plan to withdraw their contribution within 5 years.

Fund manager comment : 31/12/19

Emerging market equities were up over the fourth quarter, posting 11.9% in USD terms as measured by the benchmark MSCI Emerging Markets index. This was against a backdrop of progressive trade negotiations between the US and China leading to an interim “Phase one” deal being announced. Pro-cyclical sectors led the market with technology sector returning in the high-teens, while defensive sectors lagged behind with utilities and consumer staples the worst-performing sectors. In terms of factors, momentum, quality and value were broadly in line with the market while low volatility underperformed in a risk-on environment. The Fund outperformed its benchmark index, net of fees and expenses applicable to the A USD share class over the quarter. Positive stock selection contributed to the outperformance while style factors and industry allocations were additive but to a lesser degree. Style-wise, it was the Fund’s tilt towards value companies based on book assets that was notably rewarded however this was offset by the Fund’s tilt towards smaller companies which underperformed their larger peers over the period. Among industries, positive contributions came from the underweight to banks and oil companies as both energy and financials sector underperformed the broader market. Strong stock picks over the quarter came from within materials and industrials sectors, both sectors benefited from the increased certainty over the US-China trade negotiations. Consequently above-benchmark positions in Impala Platinum, NMDC and China National Building Materials were among those that featured among the top contributors to relative returns.

Performance

Performance chart

Period

1M
3M
6M
1Y
3Y
5Y
8Y
10Y
YTD
Since launch

Start date

End date

Benchmark

Performance indicator Start date End date
- - -

Performance table

End date

Performance table Net performance Performance indicator  Start date End date
1M - - - -
QTD - - - -
3M - - - -
6M - - - -
YTD - - - -
1Y - - - -
2Y - - - -
3Y - - - -
4Y - - - -
5Y - - - -
8Y - - - -
10Y - - - -
Since launch - - - -

Risk table

End date

Risk table Fund volatility Benchmark volatility Tracking error Information ratio Sharpe ratio Beta Alpha
1M - - - - - - -
QTD - - - - - - -
3M - - - - - - -
6M - - - - - - -
YTD - - - - - - -
1Y - - - - - - -
3Y - - - - - - -
5Y - - - - - - -
8Y - - - - - - -
10Y - - - - - - -
Since launch - - - - - - -

Price table

Start date

End date

Price Date Portfolio AUM
- - -

NAV

First NAV date 30/06/06

Administration

Distribution country

Distribution countries
France
Germany
Ireland
Luxembourg
Netherlands
Spain
Switzerland
United Kingdom

Fees

Ongoing Charges 0.97%

Fund facts

Currency USD
Start date 30/06/06
Asset class ROSENBERG EQUITIES
RI fund False
Legal authority Central Bank of Ireland

Portfolio management

Fund Manager Anubhuti GUPTA
Investment team MT AXA Rosenberg 4

Structure

Investment area Global Emerging Markets
Legal form Unit Trust

Subscription and redemption

The subscription, conversion or redemption orders must be received by the Registrar and Transfer Agent, no later than 1 p.m. Irish time one business day before the relevant Dealing (business) Day. Orders will be processed at the Net Asset Value calculated for that Dealing Day.Please note that there may be additional processing time if your order is placed via intermediaries such as platforms, financial advisors or distributors.The Net Asset Value of this Sub-Fund is calculated on a daily basis. Minimum initial investment: USD 100,000 Minimum subsequent investment: USD 5,000

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