ECHIQUIER GLOBAL Yo u r p a s s p o r t t o g r o w t h ISIN: FR0010859769
Eight key reasons to invest in Echiquier Global
NAV as at 28/03/2013: €131.04
Four structural reasons
Four cyclical reasons
A Fund focused on a clear objective: tapping into global growth Echiquier Global is fully exploiting the acceleration in global growth. The Fund invests in business leaders on a sector/industry basis, which are heavily exposed to highly dynamic regions where the IMF expects growth to exceed 6/7% annually over the next 5/10 years.
A pro-leader economic environment The current economic environment should allow leaders to gain market share faster through access to low-priced capital and targeted acquisition strategies.
A proven method For the past eight years, Echiquier Major has successfully identified the best European leaders. On a worldwide scale, Echiquier Global applies the same process that has proven itself in Europe. A unique management approach Our portfolio management team selects industry leaders which offer robust growth prospects. Like strategy consulting firms, our analysts select companies while paying close attention to their competitive advantages and the positioning of their business portfolios. Their focus is on “growth drivers". A novelty: “mobile offices" The portfolio management team travels for two-month periods on a regular basis outside France (setting up base, for example, in the US, China and India), in order to deepen their market analyses and identify new investment opportunities.
Three major themes for this year - The “leadership premium” (e.g., Pearson, a leader in education); - The rebound of the Chinese economy (e.g., Estée Lauder, a leader in production and marketing of cosmetics in China); - Ageing of the population (e.g., Mindray¹, a key leader in medical imaging. A stance that exploits several “megatrends" These include consumer spending in emerging markets with Tingyi¹, the Chinese noodle leader; technology with Oracle; healthcare with the US giant Medtronic; luxury goods with Richemont… A regional breakdown that is riding the strength of the dollar and emerging currencies Breakdown in assets by region (excluding cash, at the end of March 2013): - US: 42%, - EU: 32%, - Rest of world: 25%. Direct or indirect non-hedged USD + emerging currencies exposure: about 60%.
The Fund incurs a risk of loss of invested capital. The Fund is invested mainly in equities. If the stocks to which it is exposed decline in value, the Fund’s net asset value could also decline. As management is discretionary, there is a risk that the Fund will not be invested at all times in the best-performing stocks. A risk is incurred from investing in emerging markets, due mainly to these markets’ operating and supervisory standards, which may diverge from the standards prevailing on the major international markets, as well as political or regulatory factors. Management fees: 2.392% maximum. Ongoing charge: 3.20% maximum. Entry charge: 3% maximum. Exit charge: 2% maximum. Outperformance fee: None.
135
Echiquier Global
+31%
MSCI AC World Eur
125
as at 28/03/2013, since Fund inception, in April 2010
115
105 95 85 Apr-10
Aug-10
Dec-10
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Aug-11
Dec-11
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Aug-12
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Mar-13
Source: Morningstar
This document is meant for professional investors and has no contractual value. The information it provides is based on the best sources in our possession. Past performances are not a reliable indicator of future performances and may vary over time. Performances of the Fund and the benchmark include distributed income (as of the 2013 financial year). However, up to 2012 inclusive, the benchmark’s performance does not include distributed income. Past performance must not be a main criterion in a decision to invest in the Fund. Other information provided in the Fund’s performance reports and the risks to which the Fund is exposed must also be taken into consideration. We urge you to review the prospectus, which is available on request from the management company at +33.(0)1.47.23.90.90, or to contact your usual financial advisor. Echiquier Global is authorised for distribution in France, Germany, Belgium, Spain, Italy, the Netherlands and Switzerland. It is also available for inclusion in life insurance contracts governed by Luxembourg law under the freedom to provide services. ¹ These companies are mentioned as examples. Neither their presence in the portfolio, nor their performances are guaranteed.