CapitalatWork

This fund invests in companies in the Asian region or having substantial activities therein. Portfolio holdings are diversified across developed and emerging markets alike.

The fund is managed in a bottom up style, independent of benchmark considerations and aiming at superior absolute return. CapitalatWork takes a “value approach” identifying stocks that are trading substantially below their intrinsic value, based on a proprietary valuation model which is focused on the free cash flow (FCF) generation. The fund is invested in companies whose strong and sustainable FCF prospects are not properly reflected in their stock price.

The manager’s focus leans toward companies with a sustainable superior business and a strong management track record that guarantees cash flow visibility. Positions are built gradually, with largest convictions running from 3% to 6%. Diversification is ensured through holding about 50 stocks from a minimum of 7 sectors. Sales of call options on fully valued portfolio holdings may be implemented on a limited basis, to profit from high volatility periods.
Currency hedging is at the manager’s discretion.

This Fund is managed by : the AMD Team

Morningstar rating:

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Fact Sheets:

Asian Equities at Work