FUNDS - DPAM Invest B Equities World - A
Last update on: 28/10/2021

Fundname
DPAM Invest B Equities World - A

Investment Trusts
Degroof Petercam Asset Management SA
Emittent
Degroof Petercam Asset Management
Asset Manager
Degroof Petercam Asset Management SA

Fund data (Equity Fund)

   
Fund size

(as of 30/09/2021)

1,729.80 mil. EUR
Share class size

(as of 30/09/2021)

144.94 mil. EUR
ISIN BE0946563377
Fund price (as of 28/10/2021)
Offer n.s.
Bid 236.28 Euro

Growth (as of 28/10/2021) *

   
10 Years 262.00 %
5 Years 162.66 %
3 Years 106.96 %
1 Year 37.47 %
Current year 20.71 %
Benchmark n.s.

* in Euro (€)

Master data of Funds
ISINBE0946563377
Launch date 22/09/2006
Available in AT, BE, CH, DE, ES, FR, IT, LU
Fund type Equity Fund
Kind of fund Sustainable issues Fund / Climate-/ Environmental Technology fund
Aim of investment The fund invests mainly, without geographical restrictions, in shares or other securities representing companies that are directly or indirectly active in the energy sector in a broad sense and in related sectors. The portfolio comprises 3 main sections: Companies investing in oil & gas, in the alternative energy and energy technologies sectors and companies indirectly associated with these sectors. The objective is to achieve a higher return than the competing funds by taking controlled risks.
Investment strategy The fund is a very actively managed sub-fund. The share selection is based upon a combination of top-down macro-analysis and detailed bottom-up analysis. The objective is the constitution of a defensive portfolio (inflation hedge, geopolitical hedge and defensive valuation), which also has substantial long-term upside potential (huge amounts of money are flowing into energy-related investments). The sub-fund is not benchmarked. The objective of the fund is to achieve a good balance between the 3 pillars (oil & gas, alternative energies and indirect energy plays) in order to avoid the fund to be only invested in oil & gas, this pillar being already well developed and mature as well.
Investment process The investment process is based on both a top-down view and a bottom-up view. The top-down view is important to assess the energy needs, the trends in the gas & oil value chain, developments on alternative energies, etc. Petercam being mainly a stockpicker, the bottom-up approach is therefore very important as well and may be predominant with an active search to investment ideas. This universe will be restricted to 150-200 equities following in-depth research based on macro-economic top down, knowledge and experience.

The first step is research whereby our research efforts are focused on the themes we are playing in the sector, which are respectively the oil & gas majors and oil services, the new energies and promising technologies (wind, bio-mass, solar, ethanol, etc), and finally the indirect energy plays (transport, storage, new engines,). This all is linked to the value chain of energy production, a central element of research and portfolio construction, and adds stability and long-term performance in our portfolio.

The second step is the portfolio construction, whereby the portfolio managers have the ultimate responsibility of investment decisions and implement the strategy. The basic principles for the portfolio construction are:
- Objective : 1/3 in Oil & Gas, 1/3 in Alternative Energy and 1/3 in indirect plays (these are however no formal targets)
- A portfolio of conviction : 60-70 names
- Avoid the hype: valuations are a key issue. Most are still single digit, alternative energies are often more stretched.

Next to this, the traditional criteria are still valid for the portfolio construction i.e. valuation, quality of management, company strategy, etc. Petercam's culture is to buy stocks of good quality at reasonable prices. We do not aim at buying any stock only because it is cheap. As an active stock picker, Petercam looks at markets, which are neglected by the global brokers (principle of "First Mover Advantage").
Positive criteria n.s.
Negative criteria for stocks and corporate bonds Governance:
- corruption and bribery
- violations of the UN Global Compact

Ethical and Social:
- exploitative child labour
- gambling
- weapons of mass destruction (ABC/CBRN)
- pornography
- cluster bombs and anti-personnel mines
- tobacco products
- animal experimentation
- violations of human rights
- violations of the ILO protocol
- weapons/armaments

Negative criteria for government bonds n.s.
Research done by InHouse
 

This fund profile is aligned with the fund company.

 

 

*no exclusion but part of the analysis