LHV World Equities Fund
- Net Asset Value
- 13.4978 EUR
- Issue Price
- 13.4978 EUR
- Redemption Price
- 13.3628 EUR
- Fund volume**
- 7,774,814 EUR
-
Today
- -1.12%
- YTD
- 5.57%
- 1 y
- 4.41%
- 3 y*
- -0.48%
- 5 y*
- 5.52%
* 3 and 5 years annualised
Geographic division**
- Europe (ex Baltics)
- 49.10%
- USA
- 33.63%
- Cash
- 8.45%
- Asia
- 5.71%
- Other
- 3.10%
Sectoral division**
- Industrials
- 40.55%
- Materials
- 26.42%
- Funds
- 11.35%
- Cash
- 8.45%
- Consumer Staples
- 4.71%
- Health Care
- 3.56%
- Consumer Discretionary
- 3.46%
- Utilities
- 1.50%
10 largest investments**
- Agnico Eagle Mines
- 5.52%
- Global X Copper Miner ETF
- 5.04%
- TCM Group
- 3.89%
- Barrick Gold Corp
- 3.78%
- Siemens Healthineers
- 3.75%
- UPM-Kymmene
- 3.69%
- Getinge
- 3.59%
- Sampo
- 3.57%
- iShares MSCI China ETF
- 3.51%
- Tallinna Sadam
- 3.39%
News
Fund Strategy
The LHV World Equities Fund invests in equity markets around the world. The fund’s portfolio is spread across developed markets (e.g. Western Europe, the US, Japan) as well as emerging markets (e.g. Asia, Latin America, Eastern Europe).
The fund is suitable for investors interested in long-term equity investment opportunities.
The fund is suitable for investors interested in long-term equity investment opportunities.
Fund Manager’s Comments
In
June, the funds unit value fell by 3.1%, leaving the funds half-year return
at +8%. After a strong previous month, we saw profit-taking in both Nordic and
US commodity sector stocks, where we have invested more heavily. Largest
decliners were Metso, Freeport McMoRan, Carlsberg shares, which depreciated by
7-12%. Among the bigger gainers were Valmet, Ponsse, and Lifco shares, which
appreciated by 5-8%. In
the economy, we saw weakness in the US, where the manufacturing sector ISM
survey remained below the 50-point level for several months, indicating a
decline in the sector. On the other hand, growing orders for goods in Europe
and China suggest that the cycle of inventory reduction is over in many
industries. Generally, we expect that the first interest rate cuts, high
government budget expenditures, and the inventory cycle turning to growth will
support the economic growth in the second half of the year. This should leave
plenty of opportunity to the equity markets.
We
expect that in the second half of the year, the funds equity positions will be
supported by the growth of companies profits. Higher copper and gold prices
should support the profits of metal industry companies. We are betting that the
underinvestment of traditional energy companies will keep supply on energy
markets limited, oil and gas prices will remain relatively high, and companies
in the sector will offer investors good returns through high dividend yields.
For example, the dividend yield of the Norwegian energy conglomerate Equinor
for this year remains around 12%.
On
the Nordic stock exchanges, we see also good opportunities in industrial
company stocks, which benefit from the regions low energy prices. The
competitive position of Swedish exporting companies is also supported by the
cheap SEK rate against the EUR and USD.Monthly returns of the fund
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| 01 | +7.74% | +0.30% | +1.27% | -4.93% | +5.17% | -2.44% |
| 02 | +2.16% | -5.59% | +1.12% | -3.35% | -1.51% | -0.33% |
| 03 | -0.43% | -14.62% | +4.38% | +3.18% | +0.41% | +7.72% |
| 04 | +4.64% | +12.75% | +4.06% | -3.26% | -0.71% | +1.52% |
| 05 | -7.51% | +3.68% | +0.96% | +0.01% | -3.04% | +4.74% |
| 06 | +4.09% | +4.05% | -0.18% | -11.21% | +2.12% | -3.08% |
| 07 | -0.85% | +3.80% | +2.20% | +7.12% | +3.47% | |
| 08 | -1.39% | +1.44% | -0.73% | -3.06% | +3.41% | |
| 09 | +2.10% | -2.42% | -3.72% | -7.60% | -0.21% | |
| 10 | +2.29% | -2.97% | +5.85% | +6.43% | -4.39% | |
| 11 | +2.99% | +7.59% | -1.42% | +6.40% | -3.69% | |
| 12 | +3.11% | +2.77% | +3.33% | -2.33% | +3.77% | |
| Year | +19.42% | +8.41% | +18.06% | -13.57% | +4.31% |
Fund Manager
Mikk Taras
Fund Manager since 2014
mikk.taras@lhv.ee
Mikk Taras has worked in LHV since 2008 as financial markets analyst and portfolio manager in private banking unit. He has received bachelor degree in economics from University of Tartu and master degree in applied economics from Fudan University.
Fund Manager since 2014
mikk.taras@lhv.ee
Mikk Taras has worked in LHV since 2008 as financial markets analyst and portfolio manager in private banking unit. He has received bachelor degree in economics from University of Tartu and master degree in applied economics from Fudan University.
Documents
Fund Rules
Prospectus
Key Investor Information
NAV calculation
Best execution policy
List of Brokerage Companies
Information on Complaint Handling
Voting Policy
Responsible Investment Policy
Statement on principal adverse impacts of investment decisions on sustainability factors
Reports
Fund Annual Report 2022
Interim report for the first half-year of 2022
Fund Annual Report 2021
Interim report for the first half-year of 2021
Fund Annual Report 2016
Fund Annual Report 2015
Fund Annual Report 2014
Fund Annual Report 2013
Fund Annual Report 2012
Fund Annual Report 2011
Interim report for the first half-year of 2022
Fund Annual Report 2021
Interim report for the first half-year of 2021
Fund Annual Report 2020
Interim report for the first half-year of 2020
Fund Annual Report 2019
Interim report for the first half-year of 2019
Fund Annual Report 2018
Fund Annual Report 2017Interim report for the first half-year of 2020
Fund Annual Report 2019
Interim report for the first half-year of 2019
Fund Annual Report 2018
Fund Annual Report 2016
Fund Annual Report 2015
Fund Annual Report 2014
Fund Annual Report 2013
Fund Annual Report 2012
Fund Annual Report 2011
** Details are given on 7/27/2024
