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LHV World Equities Fund

Net Asset Value
9.9426 EUR
Issue Price
9.9426 EUR
Redemption Price
9.8432 EUR
Fund volume**
3,146,312 EUR
Today
0.22%
   YTD
7.15%
     1 y
-7.07%
     3 y*
4.50%
     5 y*
3.84%
* 3 and 5 years annualised

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Geographic division**

Europe (ex Baltics)
48.30%
Cash
25.10%
Asia
8.49%
USA
8.38%
Baltics
7.29%
Japan
2.44%

Sectoral division**

Industrials
25.48%
Cash
25.10%
Materials
13.61%
Regional Funds
11.16%
Consumer Discretionary
9.00%
Financials
8.18%
Consumer Staples
4.00%
market.fund.lhv.data.sector_partition.745532a9-30c3-4ef9-a51b-a81cf702def1.world
3.49%

10 largest investments**

Barrick Gold Corp
5.56%
Banco Santander
5.18%
Tallinna Sadam
4.41%
iShares MSCI China ETF
4.40%
Thales
4.22%
Alibaba Group Holding
4.10%
Talgo
3.56%
Siemens Healthineers
3.49%
Stora Enso
3.32%
Rockwool International
3.16%

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

In July we continue to position the fund towards more conservative investments. Our focus in current uncertain environment is on investing into specific value stocks, ideas with high dividend yield and different correlation assets, which offer reasonable compensation for risks taken. At the moment our biggest positions are related to Scandinavian and Baltic equities, other European and Asian markets and gold related names. We are interested in Finnish market since it has one of the highest dividend yield across Europe. Our largest position from there is Stora Enso that has a market capitalization below the fair value of its forest reserves. Opportunities are also in Swedish market, where we bought the confectionery manufacturing company Cloetta shares that has less cyclical business model. Most extreme valuation can be found among Europe banks. European banks combined market capitalization is lower than one single bank in US – JPMorgan. Our biggest position among the European banks is Banco Santander that trades 40% below its book value. Barrick Gold has grown to become our biggest position after the recent gains. We believe 5-10% position offers good protection from negative interest rates, political uncertainty and possible debt problems. From other subjects we have looked more closely into European defense expenses that support the growth of French industrial company Thales. In July we took profit from TE Connectivity position and sold Kion equities. In conclusion we keep our equity investments diversified across different sectors and regions. Current equity positions yield about 4% and we keep some cash buffer to use the funds available for opportunities should they arise.

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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%
09 -1.28% -4.00% -0.29% +3.14% -0.21%
10 +0.91% +6.40% +1.24% +2.04% -6.19%
11 +3.42% +4.49% +2.09% -1.76% -0.85%
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 31.07.2019