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Ranking
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Sector:
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Europe-Equity-General |
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Size:
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€866 610 000 |
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Sector Rank:
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11 out of 22 |
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(lump sum over 3 years to 31 Mar 2004)
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Overall Rank:
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151 out of 243 |
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(lump sum over 3 years to 31 Mar 2004)
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| R20000 invested on 31 Mar 2001 was worth R16 976 at 31 Mar 2004 |
((5.32)% annual compound return)
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| R5000 per month since 31 Mar 2001 was worth R160 146 at 31 Mar 2004 |
((7.70)% annual return compounded monthly)
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| Please note that offshore fund performance figures are calculated from NAV prices (ie, equivalent to sell-to-sell) and therefore not directly comparable to domestic fund performance figures on this site. |
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Management
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| Philippe Herault |
| Philippe Herault is located in Paris/London |
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Focus and Objective
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This is a growth-oriented fund investing in European companies (including the UK). Investments will be well diversified and tend to be in large and mid-sized companies, although there may be some smaller-company exposure.The team uses top-down analysis from the HSBC Global Investment Strategy Group and combines this with bottom-up research by fund managers and analysts. Fund composition is determined by analysis of the business cycle to identify those sectors that offer value relative to the market. The team can therefore switch between a value and growth bias to suit market conditions. The principal factor that drives stock selection is sustainable competitive advantage: the team aims to find those companies that have lower costs, better technology, superior management and dominant distribution, preferably companies with many or all of these attributes.
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Technical overview
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| Formation Date: |
12 Nov 1993 |
| Holdings: |
109 |
| Original Price: |
1 000.00 |
| Pricing System: |
Forward |
| Base Currency: |
€ |
| Domicile: |
Luxembourg |
| Rollup Fund: |
No |
| Benchmark: |
FT/S&P World Europe index |
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Top holdings on 31 Mar 2004
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Share (Sector)
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Value
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% of fund
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| BPAMOCO (Energy) |
€31 804 587 |
3.67% |
| VODAFONE (Telecom) |
€30 331 350 |
3.50% |
| TOTALFINAELF (Energy) |
€29 464 740 |
3.40% |
| UBS (Financial Services) |
€29 118 096 |
3.36% |
| SHELL (Energy) |
€27 298 215 |
3.15% |
| HSBC (Financial Services) |
€25 564 995 |
2.95% |
| GLAXOSMTHKLNE (Healthcare) |
€24 611 724 |
2.84% |
| NOVARTIS (Healthcare) |
€20 625 318 |
2.38% |
| SIEMENS (Goods & Services) |
€18 718 776 |
2.16% |
| ROYALBNKSCOT (Banks) |
€18 285 471 |
2.11% |
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TOTALS
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€255 823 272
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29.52%
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