Family business theme

This fund is invested in small and medium sized European companies, that are listed but still partly owned by family shareholders. These companies are benefiting from a better alignment of interests with their shareholders. They tend to have a longer-term focus and an attractive dividend distribution policy. The fund’s allocation process is based on the “value” investment principles, whereby the real value of a company is taken into consideration. The strength of its balance sheet is a key factor.

The UCITS fund is regulated in Luxembourg and is managed by an experienced management team located in Switzerland. They have a 30-years successful industry track-record and they are leveraging on a strong network in European and on significant research capabilities. The portfolio is constantly monitored and most companies in which they are invested are visited several times per year. The fund’s average holding period is 3 years. The same team is also managing a “value-driven” small and micro caps fund now closed to new subscriptions, but which has regularly been on top of the league tables during the past 15 years.

The fund seeks investment opportunities across all European countries. Currently, France, Italy, Germany and Switzerland represent nearly 80% of the portfolio. In terms of sectors, consumer goods, industrial, capital goods and automotive and vehicles account for more than 50% of the portfolio. Most of the companies are leaders in their sectors and were included in the portfolio at a very attractive price to earnings ratio.

The fund consistently beats its benchmark and peers. Since inception in 2012, the performance of the fund exceeded the benchmark by nearly 3% per year on average..

  • Sector: European Family Owned businesses
  • Underlying assets: Listed Equities
  • Track record: +11.8% (last 5Y average performance)
  • Volatility: 11.4%
  • Liquidity: Daily (with 10 days-notice)

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Factsheet August 2016 Quaero Family Enterprise