FUNDS - Vontobel Fund - mtx Sustainable Global Leaders B USD
Last update on: 28/10/2021

Vontobel Fund - mtx Sustainable Global Leaders B USD

Investment Trusts
Vontobel Asset Management AG
Vontobel Asset Management S.A.
Asset Manager
Vontobel Asset Management AG

Fund data (Equity Fund)

Fund size

(as of 30/09/2021)

70.91 mil. USD
Share class size

(as of 30/09/2021)

41.38 mil. USD
ISIN LU0848326269
Fund price (as of 28/10/2021)
Offer 175.16 EUR
Bid 175.16 EUR

Growth (as of 28/10/2021) *

10 Years n.s.
5 Years 51.18 %
3 Years 45.76 %
1 Year 29.18 %
Current year 12.70 %
Benchmark MSCI World Index TR net

* in Euro (€)

Master data of Funds
Launch date 14/12/2012
Available in DE, FI, FR, GB, IT, LI, LU, NL, NO, AT, PT, SE, CH, SG, ES
Fund type Equity Fund
Kind of fund Sustainability and ethical funds / Sustainability-/ Ethical fund
Aim of investment The Vontobel Fund - mtx Sustainable Global Leaders B USD aims to achieve the highest possible capital growth in USD. While respecting the principle of risk diversification, the Fund’s assets are mainly invested in shares, equity-like transferable securities, participation certificates etc. ('equity securities') issued by companies worldwide that make a contribution to sustainable economic activity and have a leading position within their sector.
Investment strategy For a company to be eligible for the fund, a number of prerequisites need to be met: They has delivered consistent, above-average return on invested capital in the past. It has a strong industry positioning. A company that is better positioned is more likely to reinvest free cash flow in superior growth projects, enabling continued growth and maintaining aboveaverage returns in the future. An attractive valuation that offers a margin of safety to a company's intrinsic value, which is estimated by the in-house analysts. This ensures that the portfolio manager buys at attractive levels, as the entry point significantly determines the rate of return of the fund. A company's actively adresses environmental, social and governance (ESG) issues.
Investment process The bottom-up investment process is designed to be simple and repeatable, encompassing an initial quantitative screen to narrow down the universe, followed by a qualitative assessment including in-depth fundamental research and valuation. It is focused on identifying industry-leading companies with strong competitive positions and high profitability that trade at a discount to their intrinsic value.
In the first step, the portfolio manager tries to find companies that have delivered consistent, above-average ROIC in the past. In the second step, the team spends time trying to ascertain why these companies had persistent superior returns and how likely it is that they will continue to enjoy high returns in the future based on their industry positioning and reinvestment opportunities. In the third step the portfolio manager tried to find the right entry point for buying the stocks based on the estimated intrinsic value of a company.
A portfolio of 30-40 stocks is then constructed based on the best combination of fundamentals (first quartile ROIC), industry positioning (first quartile competitive position), fulfilment of ESG minimum standards, valuation (discount to intrinsic value) and technicals (e.g. earnings revisions, insider buying etc.). The companies included in the fund are monitored to ensure their fundamental business perspectives remain intact and their risk contribution stays in line with the fund's risk/return objectives. It is important to note that the consideration of ESG issues is undertaken by the same analysts that undertake financial analysis and therefore it influences all stage of the investment process, it is not just one specific step in the process.
Positive criteria Consideration of ESG issues is fully integrated into company evaluation, with Vontobel's sector specialist analysts synthesizing their own analysis ; with inputs from external sustainability specialists and the Group Sustainability Management team to form a view on the issues that are most likely to impact the investment case of a company. ; Alongside this integration the team also commit to only investing in companies that fulfil the ESG criteria that are most relevant for each sector. ; A Minimum Standard Framework informs this decision making process adding consistency and discipline to a highly subjective area. ; The figure below shows a Minimum Standard Framework, in this specific case the Minimum Standards Framework for the consumer staples sector. ; A minimum score of five on a scale from zero to ten is required for a company to be eligible for the portfolio. ; The scoring rationale for individual companies is verified by a dedicated ESG professional who is not involved in the other areas of investment analysis ; to ensure that the scores are a true reflection of the company's ESG performance unbiased by an otherwise strong investment case. ; ; Minimum Standards Framework: 9 critical ESG-factors, each scored from 0-10, or F (fail);
Environment (E): Environment Management System: Environmental considerations integrated into key processes / Systematic targets, monitoring ; Supply chain: Emissions disclosure / Resource use policies; Products: Use of life cycle assessment / Ecological impact of products / Packing reduction and recycling ;
Social (S): Employees: Fair compensation / Training, health & safety / Equality of recruitment ; Social & economic development: Code of conduct / Ethical policy / Human rights ; Advertising: Responsible marketing / Health and content claims, labelling / Supplier monitoring ;
Governance (G): Board independence: Independent diversified board / Separation of CEO and Chair / Independent auditors; Shareholder rights: Disclosure of structure / Anti-takover devices / Founder privileges; Executive remuneration: Transperency and appropriateness / Compensation models link to ESG / Independent compensation committee;
An average ESG Score >5 is considered investable, any F score fails the entire rating.
Negative criteria for stocks and corporate bonds Governance:
- corruption and bribery*

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

- genetic engineering (agriculture)*
- nuclear power
- nuclear energy (operation or component manufacture)

- environmentally harmful conduct*

Negative criteria for government bonds n.s.
Research done by Inhouse, but with the addition Vigeo, Inrate and Credit
Suisse HOLT LensTM-Plattform

This fund profile is aligned with the fund company.



*no exclusion but part of the analysis