LHV World Equities Fund - Traditional funds - Markets and prices - LHV financial portal

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LHV World Equities Fund

Net Asset Value
11.7208 EUR
Issue Price
11.7208 EUR
Redemption Price
11.6036 EUR
Fund volume**
6,242,956 EUR
Today
2.86%
   YTD
-17.36%
     1 y
-10.46%
     3 y*
5.41%
     5 y*
1.91%
* 3 and 5 years annualised

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Geographic division**

Europe (ex Baltics)
56.44%
USA
35.69%
Asia
4.69%
Cash
3.19%

Sectoral division**

Industrials
36.83%
Materials
25.44%
Funds
13.86%
Information Technology
6.90%
Consumer Staples
4.35%
Health Care
3.42%
Cash
3.19%
Financials
2.53%
Infrastructure
1.89%
Consumer Discretionary
1.60%

10 largest investments**

Agnico Eagle Mines
5.76%
Swedbank
5.51%
Barrick Gold Corp
4.98%
TCM Group
4.77%
Siemens Healthineers
4.69%
Sweco
3.97%
UPM-Kymmene
3.67%
Getinge
3.48%
Tallinna Sadam
3.44%
Sampo
3.34%

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

August started on a positive note for equity markets but ended with selling pressure as US and European central banks confirmed they would continue to rapidly raise interest rates to slow inflation in the economy. The US S&P500 stock index fell 4% and European stock markets fell 5%. The share of the fund fell by 3.1% in the month. The decline came from the Nordic industrial and US stock precious metals positions, which were under selling pressure in anticipation of higher interest rates. Higher interest rates mean that stock markets will continue to adjust to a new environment where interest rates are higher than before. Markets have priced in the expectation that base interest rates in the US will reach 4.5% next year and 3% in Europe. Higher interest rates reduce demand in the economy and slow down price increases. Stock markets have fallen by 10-20% in anticipation of negative developments in the economy. Many high-quality companies, which are still capable of increasing profits in the coming years, have also been sold to considerably lower valuations.  The funds key investments remain in companies that, in a more active economic environment, have good pricing power to grow profits in an environment with high inflation. In the stock markets of the Nordic countries, we have invested more in industrial companies related to commodities, which are one of the market leaders in their sector. Among the funds major equity investments are mining technology companies Epiroc, Sandvik and Metso Outotec, forest companies UPM-Kymmene and Stora Enso, industrial companies Trelleborg and Ponsse, and energy company Equinor. In the US stock markets, we have invested in mining companies related to commodity sectors. Among the funds major positions are the copper mining company Freeport McMoRan and the gold mining company Barrick Gold equities. The funds equity positions are certainly not immune to economic downturns in the short term. However, in a more normal economic growth environment, we expect good returns in stocks related to the commodity and materials sector. In commodity markets, supply is limited and many inputs such as energy, industrial metals, wood, etc. are in structural deficit. In our opinion, suppressing demand with higher interest rates can only temporarily solve the inflation problem. It does not bring us new energy or metals that are needed for green transformation, electrification etc. We believe in todays risk-focused environment in the markets, the ability of old economy companies to generate high profits in the coming years is underestimated.

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Monthly returns of the fund

  2017 2018 2019 2020 2021 2022
01 +0.05% +3.37% +7.74% +0.30% +1.27% -4.93%
02 +2.14% -1.84% +2.16% -5.59% +1.12% -3.35%
03 +4.23% -0.60% -0.43% -14.62% +4.38% +3.18%
04 +2.60% +1.62% +4.64% +12.75% +4.06% -3.26%
05 +0.58% -0.87% -7.51% +3.68% +0.96% +0.01%
06 -1.18% -1.78% +4.09% +4.05% -0.18% -11.21%
07 -0.07% +0.91% -0.85% +3.80% +2.20% +7.12%
08 +0.24% -0.46% -1.39% +1.44% -0.73% -3.06%
09 +3.14% -0.21% +2.10% -2.42% -3.72% -7.60%
10 +2.04% -6.19% +2.29% -2.97% +5.85%
11 -1.76% -0.85% +2.99% +7.59% -1.42%
12 +1.04% -7.38% +3.11% +2.77% +3.33%
Year +13.66% -13.82% +19.42% +8.41% +18.06%

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: Vahur Vallistu 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 10/5/2022

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