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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 114.60 EUR
  • Share Class Currency EUR
  • Sub-fund Size (m) 31
  • Number of shares in Share Class 11,354

Risk and reward profile

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Low risk
Lower rewards
High risk
Higher rewards

Return

Year Performance and Dividend (%)
2018 2017 2016 2015 2014
Fund -21.57 10.37 10.64 -8.29 7.78
Benchmark -16.18 18.84 5.67 -4.43 16.02
Dividend
Return Period (%)
(Updated: 04.25.2019)
1 month YTD 1 yr 3 yrs 5 yrs
-1.67 5.09 -18.86 1.02 -0.92
0.28 7.28 -10.63 5.16 3.00
All returns 1-10 years are annualized. Return is calculated in share class currency.

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: 03.31.2019)
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Sectoral allocation

(Updated: 03.31.2019)
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The largest investments in the portfolio

(Updated: 03.31.2019)
Name Sector Weight
National Bank of Kuwait Financials 7.23%
Human Soft Holding Co KSC Consumer Discretionary 6.19%
Pampa Energia SA Utilities 6.01%
Safaricom Ltd Communication Services 5.33%
Societatea Nationala de Gaze Naturale ROMGAZ SA Energy 4.68%
Hoa Phat Group JSC Materials 4.67%
Vingroup JSC Real Estate 4.21%
Square Pharmaceuticals Ltd Health Care 4.08%
Zenith Bank Ltd Financials 3.74%
Viet Nam Dairy Products JSC Consumer Staples 2.95%
YPF SA ADR Energy 2.91%
Saigon Thuong Tin Commercial JSB Financials 2.89%
GrameenPhone Ltd Communication Services 2.67%
Aramex Co Industrials 2.66%
Egyptian Financial Group-Hermes Holding Co Financials 2.59%
Grupo Supervielle SA Financials 2.58%
BRAC Bank Ltd Financials 2.45%
Talaat Moustafa Group Real Estate 2.26%
Corp America Airports SA Industrials 2.25%
Ho Chi Minh City Infrastructure Investment JSC Industrials 2.22%
Guaranty Trust Bank Financials 2.10%
Banca Transilvania Financials 2.09%
TBC Bank Group PLC Financials 2.04%
Georgia Capital PLC Financials 1.83%
Banco Macro SA Financials 1.81%
Medinet Nasr Housing Real Estate 1.65%
Thai Beverage PCL Consumer Staples 1.59%
MED Life SA Health Care 1.34%
Obour Land For Food Industries Consumer Staples 1.31%
Six of October Development & Investment Real Estate 1.19%
FBN Holdings Plc Financials 1.15%
East African Breweries Ltd Consumer Staples 1.14%
Maple Leaf Cement Factory Ltd Materials 1.00%
Dangote Cement PLC Materials 0.94%
IGI Insurance Ltd Financials 0.77%
CI Capital Holding Co SAE Financials 0.76%
Emirates NBD PJSC Financials 0.72%
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Risk 5 Years

(Updated: 03.31.2019)
Risk Fund Benchmark
Standard Deviation (%) 11.21 11.04
Sharpe Ratio 0.07
Information Ratio -0.79
Tracking Error (%) 4.51

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: 04.25.2019