| ISIN | ES0162917001 | Net Asset Value | € | 1D Return (%) | -0.5 % | YTD Return (%) | | Valuation Date | | Registry No. | 43 |
INVESTMENT POLICY.
Millennial Fund was launched in January 2016, with the objective of replicating the investment style used by Cross Capital in EVOLUTION INVESTMENT SICAV. The risk profile is moderate and can invest up to 65% of total assets in equities, domestic and/or international. The rest of the assets are invested in fixed income, public and corporate, and also in other financial assets via mutual funds and/or ETFs (Exchange Traded Funds). Geographically, the investments are located fundamentally in United States and Europe. Preservation of capital is key and has the objetive of achieving an absolute return consistent in the long term, fixed in the 5% annual return. Therefore, management is flexible in terms of tactical and strategic allocation.
The investment focus applied, allows the investor taking benefit of the global macro trends, with a bottom-up security selection, for equities but also for fixed income, applying a 'value investing' based approach. The risk control is rigorous, fixing a maximum exposure to high yield of 50% of the total fixed income arm. The maximum duration is 15 years, taking care of the equilibrium between small-mid and large caps, and limiting the maximum exposure to Emerging Markets to 15% of total assets. Risk is also controlled in terms of individual concentration and diversification (number of positions). Derivatives are used basically for hedging purpposes. The exposure to non Euro currencies could be 100%. The investment method has been used and proven by Cross Capital's team for more than 15 years, knowhow that currently is complemented by R4 Gestora SGIIC, S.A..
The minimum recommended investment period is 3 years.
It's not a benchmark driven portfolio management, due to it's absolute return objective, fixed in 5% annual.
MAIN FEATURES.
| Invesment Advisor (RIA) | Cross Capital |
| Inception Date | 15-01-2016 |
| Ticker (Bloomberg) | MILLNFD SM |
Fees
|
1,35% Annual |
| Minimum Invesment | 10 € |
| Depositary | BNP Securities Services Spain |
NET ASSET VALUE (NAV).
PERFORMANCE.
| Annual | January | February | March | April | May | June | July | August | September | October | November | December | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 12,34% | 6,90% | 0,73% | -0,79% | 0,22% | 0,34% | 2,12% | 2,40% | |||||
| 2022 | -16,67% | -2,12% | -2,98% | 1,48% | -3,53% | -1,04% | -6,06% | 4,06% | -2,56% | -5,45% | 2,78% | 2,93% | -4,93% |
| 2021 | 8,29% | -0,03% | 3,29% | 2,88% | -0,05% | 0,52% | 2,27% | -1,36% | 0,76% | -1,19% | 2,49% | -2,84% | 1,45% |
| 2020 | 0,15% | -0,82% | -2,76% | -12,61% | 4,74% | 2,50% | 2,52% | -1,25% | 2,75% | -3,39% | -3,32% | 11,89% | 1,80% |
| 2019 | 15,13% | 4,96% | 1,57% | 0,74% | 2,73% | -2,44% | 2,94% | 0,71% | -0,71% | 1,27% | -0,15% | 1,89% | 0,85% |
| 2018 | -13,03% | 0,75% | -1,95% | -2,41% | 2,83% | 0,56% | -0,35% | 0,36% | -1,55% | 0,78% | -5,61% | -1,21% | -5,70% |
| 2017 | 5,72% | 0,36% | 2,28% | 1,68% | 0,49% | 0,31% | -0,90% | 0,35% | -1,09% | 1,36% | 1,77% | -1,31% | 0,35% |
| 2016 | 2,19% | -0,05% | -0,96% | -0,12% | -0,15% | 1,23% | -3,57% | 2,67% | -0,60% | 0,02% | 0,45% | 0,97% | 2,43% |
*Data as of 31 July 2023
| Annual | January | February | March | April | May | June | |
|---|---|---|---|---|---|---|---|
| 2023 | 12,34% | 6,90% | 0,73% | -0,79% | 0,22% | 0,34% | 2,12% |
| 2022 | -16,67% | -2,12% | -2,98% | 1,48% | -3,53% | -1,04% | -6,06% |
| 2021 | 8,19% | -0,03% | 3,29% | 2,88% | -0,05% | 0,52% | 2,27% |
| 2020 | 0,15% | -0,82% | -2,76% | -12,61% | 4,74% | 2,5% | 2,52% |
| 2019 | 15,13% | 4,96% | 1,57% | 0,74% | 2,73% | -2,44% | 2,94% |
| 2018 | -13,03% | 0,75% | -1,95% | -2,41% | 2,83% | 0,56% | -0,35% |
| 2017 | 5,72% | 0,36% | 2,28% | 1,68% | 0,49% | 0,31% | -0,90% |
| 2016 | 2,19% | – | -0,96% | 0,04% | -0,70% | 1,63% | -3,57% |
| July | August | September | October | November | December | |
|---|---|---|---|---|---|---|
| 2023 | 2,40% | |||||
| 2022 | 4,06% | -2,56% | -5,45% | 2,78% | -2,93% | -4,93% |
| 2021 | -1,36% | 0,76% | -1,19% | 2,49% | -2,84% | 1,45% |
| 2020 | -1,25% | 2,75% | -3,39% | -3,32% | 11,89% | 1,80% |
| 2019 | 0,71% | -0,71% | 1,27% | -0,15% | 1,89% | 0,85% |
| 2018 | 0,36% | -1,55% | 0,78% | -5,61% | -1,21% | -6,00% |
| 2017 | 0,35% | -1,09% | 1,36% | 1,77% | -1,31% | 0,33% |
| 2016 | 2,14% | 0,19% | -0,25% | 0,45% | 0,97% | 2,43% |
*Data as of 31 July 2023
RISK AND RETURN.
| Performance | Anual Return | |
|---|---|---|
| 1 month | 2,40% | – |
| 3 months | 4,92% | – |
| 12 months | 4,07% | 4,07% |
| 3 years | 10,82% | 3,48% |
| 5 years | 1,96% | 0,39% |
| Since inception | 9,82% | 1,25% |
| Annualized Volatility (d) | Sharpe Ratio |
|---|---|
| 9,36% | 0,44 |
| Maximum Drawdown (12m) | VaR (95%/1m) |
| -9,87% | 4,96% |
PORTFOLIO DETAIL.
TOP HOLDINGS
| Brookfield Corp | 3,65% |
| Pershing Square Holdings Ltd | 3,44% |
| Pax Global Technology Ltd | 2,69% |
| Daseke Inc | 2,64% |
| Golar Lng Ltd | 2,45% |
CURRENCY EXPOSURE
| Euro | 41,69% |
| US Dollar | 47,60% |
| Others Development Markets | 7,04% |
| Emerging Markets | 3,66% |
ASSET CLASS BREAKDOWN
RENTA VARIABLE
RENTA FIJA
A. MONET.
ALTERNATIVOS
17,12% MONEY MARKETS
56,39% FIXED INCOME
26,49% EQUITY
0,00% ALTERNATIVES
EQUITY SECTOR BREAKDOWN
ENERGIA
FINANZAS
C. ESTABLE
C.DISCRECIONAL
INDUSTRIALES
MATERIALES
SALUD
INFRAESTRUCT.
TECNOLOGÍA
TMT
20,02% CONSUMER DISCRETIONARY
1,86% CONSUMER STAPLES
8,00% ENERGY
28,31% FINANCE
7,16% INDUSTRIALS
0,00% UTILITIES
5,33% MATERIALS
4,12% HEALTHCARE
17,04% IT
7,86% TMT
HOW TO INVEST.
Institutional Investor (Mutual Fund, Sicavs, Pension Funds, Unit-linked Insurance, etc.)
The fund is available at the mayor funds platforms, as Allfunds and Inversis. Institutional Investors could always invest directly in the mutual fund through any bank, or contacting directly with Renta 4 Banco or it's Asset Managament company: Renta 4 SGIIC, S.A.. If you have any doubt or dificulty, please contact us.
Individual Investors and enterprises
The commercial banks who distribute the fund are Renta 4 Banco and Andbank-Inversis. It's necessary to open an account in any of these banks. You can invest in the fund through the bank's branches or via their websites (www.r4.com, www.andbank.es, www.inversis.com) or via telephone (+34 902 153 020 for Renta 4 Banco and +34 902 255 256 for Andbank-Inversis). In addition, some banks who work with Inversis platform, as Banca March, or with Allfunds platform, as BBVA, Caixabank, Santander and Bankinter, could offer the fund attending to a customer request.
The investment can be made from a current account or transfering a position in other mututal fund from any bank. The fund transfer, or switches among funds, do not require paying taxes for the unmaterialized gains and have no banking costs for changing of entity. The transfer can be ordered from the bank's branches who distribute Millennial Fund, just providing them with a bank statement with the original mutual fund object of the transfer, or through their website (if it's allowed), selecting the original and the destiny fund in the fund search section.