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BI SICAV - New Emerging Markets Equities R

The sub-fund invests in a wide range of frontier market countries in Africa, Middle East, Eastern Europe, Asia and Latin America, which are part of the MSCI Frontier Markets index. The sub-fund can also hold a small weight in companies from the MSCI Emerging Markets index or in countries that are not included in any MSCI indices. The sub-fund invests in companies in frontier market countries for example Kazakhstan and Nigeria. These are countries, which are at an early stage of economic development, but characterized by a rapid economic growth. Frontier market countries are economically attractive, but also characterized by a large degree of uncertainty and instability compared to more developed countries like Brazil. The sub-fund may use financial derivative instruments in order to reduce risk or as part of the investment strategy.

Portfolio Managers:
Brian Muggeridge Andersen, Senior Portfolio Manager (left)
Søren Høyer, Senior Portfolio Manager (right)

Brian Muggeridge Andersen, seniorporteføljeforvalter Søren Høyer, seniorporteføljeforvalter

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Basic Information

  • ISIN LU0304976862
  • Fund BI SICAV
  • Inception Date 12.03.2007
  • Investment Manager BI Asset Management Fondsmæglerselskab A/S
  • Investment Universe Equities
  • Exchange Status Quoted
  • Latest Share Class NAV 136.67 EUR
  • Share Class Currency EUR
  • Sub-fund Size (m EUR) 41
  • Number of shares in Share Class 21,468

Risk and reward profile

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Low risk
Lower rewards
High risk
Higher rewards

Return

Year Performance and Dividend (%)
2016 2015 2014 2013 2012
Fund 10.64 -8.29 7.78 26.81 35.85
Benchmark 5.67 -4.43 16.02 19.37 11.03
Dividend
Return Period (%)
(Updated: 07.20.2017)
1 month YTD 1 yr 3 yrs 5 yrs
-5.09 8.48 15.28 2.20 10.41
-4.05 7.00 12.80 1.60 9.25
All returns 1-10 years are annualized. Return is calculated in EUR.

Benchmark

50% MSCI Frontier Index incl. Net Dividends and 50% MSCI Frontier ex. GCC Index incl. Net Dividends. Reweighted yearly. Before 30/06/2009 MSCI Emerging Markets incl. Net Dividends

Country allocation

(Updated: 06.30.2017)
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Sectoral allocation

(Updated: 06.30.2017)
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The largest investments in the portfolio

(Updated: 06.30.2017)
Name Sector Weight
Viet Nam Dairy Products JSC Consumer Staples 5.67%
Pampa Energia SA Utilities 5.20%
Safaricom Ltd Telecommunication Services 4.94%
Banco Macro SA Financials 4.66%
National Bank of Kuwait Financials 4.52%
Fondul Proprietatea SA/Fund Financials 3.90%
Guaranty Trust Bank Financials 3.70%
Banca Transilvania Financials 3.38%
Emaar Properties PJSC Real Estate 3.32%
Square Pharmaceuticals Ltd Health Care 3.02%
Ho Chi Minh City Infrastructure Investment JSC Industrials 2.58%
ElSewedy Electric Co Industrials 2.50%
Hoa Sen Group Materials 2.45%
GrameenPhone Ltd Telecommunication Services 2.45%
Societatea Nationala de Gaze Naturale ROMGAZ SA Energy 2.45%
Adecoagro SA Consumer Staples 2.27%
BRAC Bank Ltd Financials 2.23%
Medinet Nasr Housing Real Estate 2.22%
MED Life SA Health Care 2.16%
Kinh Bac City Development Share Holding Corp Real Estate 2.15%
Bank of Georgia Holdings Plc Financials 1.92%
Pak Elektron Ltd Industrials 1.91%
Parex Resources Inc Energy 1.86%
Maple Leaf Cement Factory Ltd Materials 1.72%
TBC Bank Group PLC Financials 1.57%
Residences Dar Saada Real Estate 1.55%
Zenith Bank Ltd Financials 1.54%
Dangote Cement PLC Materials 1.54%
Credicorp Ltd. Financials 1.47%
Chevron Lubricants Lanka PLC Materials 1.37%
Transportadora de Gas del Sur SA Energy 1.30%
Nigerian Breweries Plc Consumer Staples 1.18%
Aramex Co Industrials 1.13%
IGI Insurance Ltd Financials 1.12%
Mezzan Holding Co KSCC Consumer Staples 1.11%
Commercial International Bank Financials 0.95%
East African Breweries Ltd Consumer Staples 0.90%
City Bank Ltd/The Financials 0.89%
Delta Brac Housing Finance Corp Ltd Financials 0.74%
Packages Ltd Materials 0.67%
Ceylon Tobacco Co PLC Consumer Staples 0.67%
Eastern Tobacco Consumer Staples 0.64%
Globant SA Information Technology 0.59%
Equity Bank Ltd Financials 0.48%
MercadoLibre Inc Information Technology 0.30%
3.5% Bank Muscat SAOG 03/2018 0.03%
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Risk 5 Years

(Updated: 06.30.2017)
Risk Fund Benchmark
Standard Deviation (%) 11.31 10.75
Sharpe Ratio 1.08
Information Ratio 0.35
Tracking Error (%) 4.62

Risk

Standard Deviation measures the variation of returns over a period of time. If the returns in average are close to the expected return, the Standard Deviation is low. If the returns in average are far from the mean, it is high. Typically bond funds have a lower Standard Deviation than equity funds.

Sharpe Ratio expresses how much a return on investment has generated compared to the historical risk. The figure is being used as a comparative figure to rank different risk-adjusted returns on investment. The higher the Sharpe Ratio, the better risk-adjusted returns on investment.

Information Ratio expresses how much outperformance a fund has generated in relation to the risk that has been relative to the benchmark. Information Ratio indicates the quality of the risk-adjusted to outperformance of a fund. The higher the Information Ratio, the better risk-adjusted performance on investment.

Tracking Error expresses the variation in the difference between the returns of the fund and the corresponding benchmark. Tracking Error is an expression of the Standard Deviation of the excess return. A low Tracking Error is equal to low volatility of the monthly performance, and a high Tracking Error is equal to high fluctuations.

Please note that there are no risk key figures for funds that are less than three years old.


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Last updated: 07.20.2017