Metzler European Smaller Companies/Class B

Transcription

1 Factsheet Calculation date: 28/12/2018 Page 1 Fund Basics ISIN code Fund symbol Fund category Fund currency Management Company Depositary IE00B40ZVV08 A0YAYL Equity funds Euro Metzler Ireland Limited Brown Brothers Harriman Trustee Services (Ireland) Limited, Dublin Fiscal year 1/10/ - 30/9/ German tax classification Minimum investment equity fund pursuant to Section 2(6) of the Investment Tax Law 500,000 EUR Fund launch 1/10/2009 Offering price (incl. subscription charge) Dividend type Performance Fee Benchmark Registered for sale Investment Policy EUR Distribution STOXX Europe Small 200 Germany, Austria, Finland, France, Luxembourg, Norway, Spain, Sweden, The investment objective of the Fund is to increase the value of its investments over the long term. The Fund will predominantly invest, on a diversified basis, its assets in European equities and equity related securities. Investment focus will be on medium to small companies, measured by market capitalisation (the value of the issued shares of a publicly traded company). The Fund is managed in order to ensure eligibility under the French "Plan dépargne en Actions" ("PEA"). SRRI - Synthetic Risk and Reward Indicator Typically lower rewards Lower risk Typically higher rewards Higher risk Recommended investment horizon 5-10 years Risk Profile The indicated risk category for this Fund is 5 because it is largely invested in equities, thus being exposed to movements in equity markets generally, and to specific movements in regional equity markets (Europe). Expectations of high returns from market and currency gains are offset by high downside risk from equity and currency fluctuations and liquidity risk. An investment in the fund is only suitable for very experienced and very risk-conscious investors who are capable of estimating the risks and the value of the investment. The investor must be prepared and be in a position to accept considerable value fluctuations in the price per share and, potentially, a considerable loss of capital. Contact Details Metzler Ireland Limited Kilmore House Spencer Dock North Wall Quay Dublin 1 Ireland Phone: (+49-69) Fax: (+49-69) metzler-service@metzler.com

2 Factsheet Calculation date: 28/12/2018 Page 2 Prices & Distributions Subscription price Net Asset Value Volume share class Fund volume EUR EUR M. EUR M. EUR Equity participation rate 97.81% Last distribution date 18/12/2017 Distribution Redemption suspended for these target funds Performance Chart 2.15 EUR 0.00% Model Calculation The investor subscribes an amount of EUR 1,000 on 29/12/2013. In the net model calculation the subscription amount includeds an average subscription fee of 5.00%. A subscription fee of EUR is paid on the individual investment amount at subscription equalling a reduction of 4.76% of the amount invested (calculation: 1,000-[(1,000/105.00)*100] ), fund shares are subscribed for an amount of EUR Moreover, account keeping costs can reduce performance. The gross performance (calculated according to the BVI-method) includes all costs charged to the fund (e.g. management fees) but does not consider costs arising for the investor (e.g. subscription fees and account keeping costs). Performance in % Performance for 12-month-periods Period Fund Perform ance Fee YTD month months year years p.a years p.a Since fund launch p.a Period Fund Perform ance Fee 29/12/ /12/ /12/ /12/ /12/ /12/ /12/ /12/ /12/ /12/ /12/ /12/2014** **Including subscription fee of 5.00% (net calculation) Asset Allocation as of 28/12/2018 Equities Cash Others 97.81% 2.57% -0.38%

3 Factsheet Calculation date: 28/12/2018 Page 3 Top 10 Countries as of 28/12/2018 Euro zone United Kingdom Sweden Denmark Norway United States Canada Faroe Islands Top 10 Sectors as of 28/12/2018 Technology Industrial Goods & Services Financial Services Travel & Leisure Retail Health Care Personal & Household Goods Media Insurance Food & Beverage 47.35% 23.23% 8.84% 7.13% 5.08% 2.64% 1.42% 1.16% 0.96% 14.61% 14.25% 10.31% 10.09% 6.11% 6.08% 5.99% 5.72% 4.66% 4.14% Top 10 Equities as of 28/12/2018 BEAZLEY PLC LS -, DRILLISCH AG O.N. EUROPCAR MOBIL.GRP A EO 1 SSP GROUP LS-, ASR NEDERLAND N.V.EO-,16 HOMESERVE LS-, WIZZ AIR HLDGS LS -,0001 GLANBIA PLC EO 0,06 CINEWORLD GRP PLC LS -,01 UDG HEALTHCARE EO -,05 Key Figures as of 28/12/ % 1.95% 1.95% 1.91% 1.89% 1.89% 1.88% 1.86% 1.85% 1.82% Tracking Error (ex-post) 3 years 4.06% Information Ratio 3 years Sharpe Ratio 3 years 0.05 Volatility since fund launch 14.80% Volatility 1 year 12.85% Volatility 3 years 13.85% Volatility 5 years 13.61% Maximum drawdown 3 years % Risk-Return Chart as of 28/12/2018 Chart Details Return p.a. Volatility 3 years Fund Performance Fee 0.27% 0.84% 13.85% 11.94%

4 Factsheet Calculation date: 28/12/2018 Page 4 Expenses & Fees Subscription charge 0.00% Redemption Fee not applicable Management Fee p.a. 0.75% Depositary Fee p.a. 0.04% Performance Fee - Ongoing charges* calculation date 30/9/2018 Ongoing charges* 0.83% *The ongoing charges contain all annual operating costs except transaction costs. Paying Agent in Germany B. Metzler seel. Sohn & Co. KGaA Untermainanlage Frankfurt am Main Germany Paying Agent in Austria Erste Bank der oesterreichischen Sparkassen AG Am Belvedere Wien Austria Tax transparent (weiß) reporting fund since: 1/10/2009 Spanish Representative and Distributor ALLFUNDS BANK, S.A. Madrid Estafeta, 6 La Moraleja Complejo Plaza de la Fuente Alcobendas Madrid Spain Paying Agent in Finland SKANDINAVISKA ENSKILDA BANKEN AB (publ) HELSINKI BRANCH GTS Financial Institutions Global Transaction Services Finland SEB Merchant Banking Finland Unioninkatu 30, FI Helsinki Finland French Centralising and Financial Agent Luxembourg Paying and Branch Representation Agent BNP Paribas Securities Services S.C.A Luxembourg 33, Rue de Gasperich L-5826 Hesperange Luxembourg Paying Agent in Sweden SKANDINAVISKA ENSKILDA BANKEN AB (publ) Custody Services SEB Merchant Banking Sergels Torg 2 SE Stockholm Sweden Representative and Paying Agent for RBC Investor Services Bank S.A. Esch-sur-Alzette, Zurich Branch Bleicherweg Zurich Security number: Semi-annual ongoing charges* calculation date 31/3/2017 semi-annual Total Expense Ratio* 0.78% This is marketing information. Investment in investment funds is subject to market risks. Past performance results are no indication of future results. Especially performance results referring to a period of less than twelve months are no reliable indicator for future results due to the short comparison period. Issuance and redemption commissions are not included in the performance figures. The domicile of the Fund is Ireland. For interested parties, the Statues, the Prospectus, the Key Investor Information Documents (KIIDs) as well as the Annual Report and, if applicable, the Semi-Annual Report may be obtained free of charge from the Swiss Representative and Paying Agent in. *The semi-annual ongoing charges contain all annual operating costs except transaction costs on a 12-months basis. BNP Paribas Securities Services 3 rue d'antin Paris France

5 Factsheet Calculation date: 28/12/2018 Page 5 Fund Manager Market & Fund Comments The third quarter was marked by concerns over a further deceleration in growth momentum, with fears of recession even emerging. The main reasons for this were political risks such as developments in Italy, Brexit and the threat of a trade war between the USA and China. Adding to this were the key interest rate hikes in the USA. Share prices on European stock markets therefore staged a volatile development. The uncertainties led to revaluations and restraint on stock markets, particularly in September. Small caps suffered particularly badly in these conditions, performing worse than the large caps for the first time in a long while. At 1.21%, the fund performed worse than its benchmark, the STOXX Europe Small (-0.41%). Fund manager Lorenzo Carcano, Stefan Meyer Lorenzo Carcano, CFA, joined Metzler in He is Co-Head of the team Equities and as Portfolio Manager responsible for the investment strategy European small & mid caps. As Portfolio Manager he has been specializing in European equities since Prior to starting as a Portfolio Manager for German equities in 1997, he completed a one-year trainee program at Metzler. Mr. Carcano graduated in economics and business administration (Italian Dottore in Economia e Commercio) from L. Bocconi in Milan/Italy. He also completed the program Goethe Executive MBA in Alliance with Duke in Stefan Meyer joined Metzler in He is Portfolio Manager in the team Equities and responsible for the investment strategy European small & micro caps. From 2000 to 2006, he worked at Sal. Oppenheim jr. & Cie. AG & Co. KGaA in Cologne, Germany, where he focused on managing European small and mid caps. Mr. Meyer studied international business administration at the International Business School in Bad Homburg, Germany, and in 1999, he received a Bachelor of Science degree from Florida Atlantic University in a dual degree program. The biggest losers in the fund included the shares in the French company Trigano (-38%). This manufacturer of camper vans and camping equipment suffered from investors' fears that the company's market in Europe might collapse. The shares in the UK software manufacturer for online gaming Playtech lost 35% after issuing another profit warning. The fund's top performers were companies reporting good figures, such as the UK financial services provider Burford Capital (30%), the Norwegian media group Schibsted (23%) and the UK cinema operator Cineworld (19%). In the third quarter, we sold our shares in the above-mentioned Playtech. We also sold our shares in industrial companies with a cyclical business model for which our outlook was negative; examples are the Danish electrical cable manufacturer NKT or the crane manufacturer Cargotec from Finland. Newcomers to the fund included shares in companies that are well-positioned in market niches. Coats Industrial from the UK is global market leader in the production of industrial yarns. Over the years, the company has successfully realigned its business model digitally and is reporting good figures; we took advantage of the favorable valuation to gain exposure. Another newcomer to the fund are the shares in the Swedish video game designer Paradox Interactive. As of September 28, 2018