MILLENNIAL FUND, FI.

ISIN | ES0162917001 Net Asset Value | 10.54 € 1D Return (%) | 2.23 % YTD Return (%) | 12,13% Valuation Date | 21/10/19 Registry No. | 43

INVESTMENT POLICY.

Millennial Fund was launched in January 2016, with the objective of replicating the investment style used by Cross Capital in EVOLUTION INVESTMENT SICAV. The risk profile is moderate and can invest up to 65% of total assets in equities, domestic and/or international. The rest of the assets are invested in fixed income, public and corporate, and also in other financial assets via mutual funds and/or ETFs (Exchange Traded Funds). Geographically, the investments are located fundamentally in United States and Europe. Preservation of capital is key and has the objetive of achieving an absolute return consistent in the long term, fixed in the 5% annual return. Therefore, management is flexible in terms of tactical and strategic allocation.

The investment focus applied, allows the investor taking benefit of the global macro trends, with a bottom-up security selection, for equities but also for fixed income, applying a 'value investing' based approach. The risk control is rigorous, fixing a maximum exposure to high yield of 50% of the total fixed income arm. The maximum duration is 15 years, taking care of the equilibrium between small-mid and large caps, and limiting the maximum exposure to Emerging Markets to 15% of total assets. Risk is also controlled in terms of individual concentration and diversification (number of positions). Derivatives are used basically for hedging purpposes. The exposure to non Euro currencies could be 100%. The investment method has been used and proven by Cross Capital's team for more than 15 years, knowhow that currently is complemented by R4 Gestora SGIIC, S.A..  

The minimum recommended investment period is 3 years.

It's not a benchmark driven portfolio management, due to it's absolute return objective, fixed in 5% annual.

MAIN FEATURES.

Invesment Advisor (RIA)Cross Capital
Inception Date15-01-2016
Ticker (Bloomberg)MILLNFD SM
Fees

  • Management
  • Sucess Fee
  • Depositary
 

1,35% Annual
9% over hurdlerate of 5% annual return
0,08% Annual

Minimum Invesment10 €
DepositaryBNP Securities Services Spain
null

Munesh Melwani

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AARÓN RODRÍGUEZ

NET ASSET VALUE (NAV).

PERFORMANCE.

AnnualJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
201912,20%4,96%1,57%0,74%2,73%-2,44%2,94%0,71%-0,71%1,27%
2018-13,03%0,75% -1,95%-2,41% 2,83% 0,56%-0,35%0,36%-1,55%0,78%-5,61%-1,21%-6,00%
20175,72%0,36%2,28%1,68%0,49%0,31%-0,90%0,35%-1,09%1,36%1,77%-1,31%0,33%
20162,19%-0,96%0,04%-0,70%1,63%-3,57%2,14%0,19%-0,25%0,45%0,97%2,43%

 

*Data as of 30 September 2019

AnnualJanuaryFebruaryMarchAprilMayJune
201912,20%4,96%1,57%0,74%2,73%-2,44%2,94%
2018-13,03%0,75%-1,95%-2,41%2,83%0,56%-0,35%
20175,72%0,36%2,28%1,68%0,49%0,31%-0,90%
20162,19%-0,96%0,04%-0,70%1,63%-3,57%
JulyAugustSeptemberOctoberNovemberDecember
20190,71%-0,71%1,27%
20180,36%-1,55%0,78%-5,61%-1,21%-6,00%
20170,35%-1,09%1,36%1,77%-1,31%0,33%
20162,14%0,19%-0,25%0,45%0,97%2,43%

 

*Data as of 30 September 2019

RISK AND RETURN.

PerformanceAnual Return
1 month1,27%
3 months1,27%
1 year-1,33%-1,81%
3 years7,18%2,34%
5 years
Since inception5,43%1,44%
Annualized Volatility (d)Sharpe Ratio
6,39%0,31
Maximum Drawdown (12m)VaR (95%/1m)
-13,47%2,37%

PORTFOLIO DETAIL.

TOP HOLDINGS
B 0 15/10/199,35%
Bono Bankia Perp7,11%
Bono Unipol 20273,82%
Bono Naturgy Perp3,69%
Bono Auchan 20253,56%
CURRENCY EXPOSURE
Euro67,77%
US Dollar22,28%
Others Development Markets7,44%
Emerging Markets2,51%
ASSET CLASS BREAKDOWN
  • RENTA VARIABLE

  • RENTA FIJA

  • A. MONET.

  • ALTERNATIVOS

25,08% MONEY MARKETS

41,21% FIXED INCOME

29,71% EQUITY

4,01% ALTERNATIVES

EQUITY SECTOR BREAKDOWN
  • ENERGIA

  • FINANZAS

  • C. ESTABLE

  • C.DISCRECIONAL

  • INDUSTRIALES

  • MATERIALES

  • SALUD

  • INFRAESTRUCT.

  • TECNOLOGÍA

  • TMT

10,18% CONSUMER DISCRETIONARY

6,57% CONSUMER STAPLES

7,45% ENERGY

23,42% FINANCE

11,05% INDUSTRIALS

0,00% UTILITIES

13,07% MATERIALS

9,74% HEALTHCARE

12,03% IT

6,50% TMT