LHV World Equities Fund
- Net Asset Value
- 12.6376 EUR
- Issue Price
- 12.6376 EUR
- Redemption Price
- 12.5112 EUR
- Fund volume**
- 7,279,011 EUR
-
Today
- -0.10%
- YTD
- 3.10%
- 1 y
- -3.59%
- 3 y*
- 5.34%
- 5 y*
- 2.58%
* 3 and 5 years annualised
Geographic division**
- Europe (ex Baltics)
- 45.62%
- USA
- 27.97%
- Cash
- 19.72%
- Asia
- 3.73%
- Other
- 2.96%
Sectoral division**
- Industrials
- 32.31%
- Materials
- 23.31%
- Cash
- 19.72%
- Funds
- 11.11%
- Consumer Staples
- 4.41%
- Health Care
- 3.60%
- Information Technology
- 2.53%
- Consumer Discretionary
- 1.56%
- Utilities
- 1.46%
10 largest investments**
- Agnico Eagle Mines
- 5.28%
- Swedbank
- 5.09%
- Barrick Gold Corp
- 4.07%
- TCM Group
- 3.73%
- Siemens Healthineers
- 3.67%
- UPM-Kymmene
- 3.57%
- Getinge
- 3.21%
- Sampo
- 3.14%
- market.fund.lhv.data.investment_top.545b2dbf-e123-4fdd-9a56-a52d49823c1d.world
- 3.14%
- Tallinna Sadam
- 3.13%
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 April, equity
markets moved sideways. The share of the fund fell by 0.7% in the month. The
negative contribution is largely from investments related to mineral resources.
Among the
funds larger equity holdings, we saw declines in commodity related names and
industrials due to general fears of a recession. Copper miner Freeport
McMorans share price fell 8%. Oil service company Valaris fell 9%.
Shares of
copper mining companies offer a free cash flow yield of nearly 20%. The sector
is cheap and well positioned in the long term to benefit from the growing
electrification trend. The energy sector has underinvested in increasing supply
volumes for years, and this should be reflected in rising energy prices again
in a more active economic environment. Energy sector shares offer 10%+ free
cash flow yields.
At these
prices, the fund is ready to increase the equity positions of companies in
various value chains related to mineral resources. Currently, share positions
related to energy and industrial metals make up a total of 27% of the funds
portfolio.
In April,
shares of gold mining companies made a positive contribution to the value of
the unit, supported by the price of gold, which in dollar terms rose to the
peaks of recent years. We expect the price of gold to move up in the long term
if savers are unable to earn returns that exceed inflation through savings or
more conservative investing. Stock investments related to gold and silver make
up 11% of the funds portfolio.
In the
economy, we see a decelerating but still uncomfortably high inflation
environment, forcing central banks to raise base rates. Over the past year,
stock markets have been searching for a new equilibrium point in an environment
with higher interest rates, and we believe that stock markets will continue to
move without a major upward trend. In the changed market environment, we expect
good returns from investments related to natural resources and high-quality
individual Nordic stocks with strong pricing power.
Monthly returns of the fund
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|---|
01 | +3.37% | +7.74% | +0.30% | +1.27% | -4.93% | +5.17% |
02 | -1.84% | +2.16% | -5.59% | +1.12% | -3.35% | -1.51% |
03 | -0.60% | -0.43% | -14.62% | +4.38% | +3.18% | +0.41% |
04 | +1.62% | +4.64% | +12.75% | +4.06% | -3.26% | -0.71% |
05 | -0.87% | -7.51% | +3.68% | +0.96% | +0.01% | -3.04% |
06 | -1.78% | +4.09% | +4.05% | -0.18% | -11.21% | |
07 | +0.91% | -0.85% | +3.80% | +2.20% | +7.12% | |
08 | -0.46% | -1.39% | +1.44% | -0.73% | -3.06% | |
09 | -0.21% | +2.10% | -2.42% | -3.72% | -7.60% | |
10 | -6.19% | +2.29% | -2.97% | +5.85% | +6.43% | |
11 | -0.85% | +2.99% | +7.59% | -1.42% | +6.40% | |
12 | -7.38% | +3.11% | +2.77% | +3.33% | -2.33% | |
Year | -13.82% | +19.42% | +8.41% | +18.06% | -13.57% |
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
Key Investor Information (Lithuanian)
NAV calculation
Best execution policy
List of Brokerage Companies
Information on Complaint Handling
Voting Policy
Responsible Investment Policy
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 6/7/2023