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LHV World Equities Fund

Net Asset Value
10.8103 EUR
Issue Price
10.8103 EUR
Redemption Price
10.7022 EUR
Fund volume**
3,442,957 EUR
Today
0.51%
   YTD
16.50%
     1 y
13.63%
     3 y*
4.76%
     5 y*
5.49%
* 3 and 5 years annualised

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Geographic division**

Europe (ex Baltics)
50.98%
Cash
26.03%
Asia
8.56%
USA
7.72%
Baltics
6.72%

Sectoral division**

Cash
26.03%
Industrials
25.53%
Materials
12.98%
Consumer Discretionary
8.95%
Financials
7.95%
Regional Funds
6.38%
Consumer Staples
4.79%
Health Care
4.77%
Telecom
2.61%

10 largest investments**

Barrick Gold Corp
5.33%
Siemens Healthineers
4.77%
TCM Group
4.56%
Alibaba Group Holding
4.39%
Banco Santander
4.33%
Coor Service Management Holdings
4.30%
iShares MSCI China ETF
4.17%
Tallinna Sadam
4.03%
Talgo
4.00%
UPM-Kymmene
3.87%

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.

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Fund Manager’s Comments

Markets continued to go up in November which was driven by talks of the potential trade deal between the US and China. LHV World Equities Fund unit value increased 3% with the month. Our best performing single stocks were Siemens Healthineers and Alibaba, which both reported better than expected quarterly results. Most of the fund’s other positions also gained during the month. Positive developments in macro came from China and Europe, where a long slump in industrial production showed first signs of stabilization. Both equity markets have many undervalued opportunities should the economic growth recover. In November, the ECB restarted their quantitative easing program. We do not expect the money supply growth to affect the real economy very much but for financial markets the high liquidity environment has usually had a positive effect. Recovery in the European economic growth depends also when fiscally sound governments start to spend again. A notable change took place in Germany where the Social Democrats held elections for party leadership and the new leaders are leftists who are eager to increase infrastructure spending. It would certainly bring some new life to the European economy if these policies should go into work.  Currently we continue to look for undervalued investment opportunities from the European and Asian equity markets. In this year we have made new investments mostly into Nordic equities that offer dividend yields close to 4-5%. In November we sold Valmet equities and reduced Stora Enso and UPM Kymmene positions. We also exited Japan and European banking sector index funds. At the same time we added TCM Group, Coor and Swedbank equities.

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Monthly returns of the fund

  2014 2015 2016 2017 2018 2019
01 -0.19% +2.49% -7.68% +0.05% +3.37% +7.74%
02 +1.16% +7.75% -2.29% +2.14% -1.84% +2.16%
03 -3.94% +1.54% +4.33% +4.23% -0.60% -0.43%
04 -2.98% -1.78% -1.34% +2.60% +1.62% +4.64%
05 +4.69% +1.70% +2.06% +0.58% -0.87% -7.51%
06 +0.35% -1.85% -6.27% -1.18% -1.78% +4.09%
07 -4.79% +2.71% +5.84% -0.07% +0.91% -0.85%
08 +0.28% -4.73% +1.95% +0.24% -0.46% -1.39%
09 -1.28% -4.00% -0.29% +3.14% -0.21% +2.10%
10 +0.91% +6.40% +1.24% +2.04% -6.19% +2.29%
11 +3.42% +4.49% +2.09% -1.76% -0.85% +2.99%
12 -2.15% -3.15% +4.03% +1.04% -7.38%
Year -4.87% +11.21% +2.73% +13.66% -13.82%

Management company:
AS LHV Varahaldus
Tartu mnt 2, 10145 Tallinn
+372 6 800 400, info@lhv.ee

The management company does not own fund units.

Management Board: Mihkel Oja and Joel Kukemelk

Fund Manager: Mikk Taras
Fund unit:
Nominal value: 10 euros
ISIN: EE3600092417
Registrar: AS LHV Pank


Launched: 13 February 2008
Type: UCITS IV
Fees:
Issue Fee 0%
Management Fee 2%
Redemption Fee (LHV Bank) 1%

Depositary:
AS SEB Pank
Tornimäe 2, 15010 Tallinn
+372 665 5100, info@seb.ee

** Details are given on 30.11.2019