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UBAM - Europe Responsible Small Cap Equity YC EUR

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Focus on long-term capital growth of small- and mid-cap companies

The fund aims to provide long-term capital growth through a diversified portfolio of investments in small and mid-sized pan-European companies.

Performance

UBAM - Europe Responsible Small Cap Equity YC EUR
NAV - Net Asset Value
Date
Data source : UBP SA
Historical performance MTD YTD 1 year 3 years 5 years Since launch
Historical performance 6.93% 6.93% -15.05% 2.44% 2.53% 3.01%
12 months rolling 01.22 - 01.23        
12 months rolling -15.05%
Disclaimer

Performance under 1 year is shown cumulated. Performance over 1 year is shown annualised.

Past performance is not indicative of present and/or future results. Price and availability are subject to change without notice. The value of investments may go up or down and investors may not get back the amount invested. Changes in foreign exchange rates may also cause the value of investments to fluctuate.

Library

LEGAL DOCUMENT
Title Updated English German French Italian
Annual report 31.12.2021 PDF
KID PRIIPS 01.01.2023 PDF
Prospectus 15.09.2022 PDF
Semi-annual report 30.06.2022 PDF
Shareholders letter 27.12.2022 PDF PDF PDF PDF
Status - Articles of Association 04.02.2020 PDF PDF
MARKETING DOCUMENTATION
Title Updated English German French Italian
Monthly Report 31.12.2022 PDF
Product card 31.12.2022 PDF PDF PDF PDF
Quarterly comment 31.12.2022 PDF

Registration

ATAustria
BEBelgium
CHSwitzerland
DEGermany
DKDenmark
ESSpain
FIFinland
FRFrance
GBUnited Kingdom
IEIreland
ILIsrael
ISIceland
ITItaly
KRSouth Korea
LULuxembourg
NLNetherlands
NONorway
PTPortugal
SESweden
SGSingapore
TWTaiwan
ZASouth Africa
ATAustria
BEBelgium
CHSwitzerland
DEGermany
DKDenmark
ESSpain
FIFinland
FRFrance
GBUnited Kingdom
IEIreland
ILIsrael
ISIceland
ITItaly
KRSouth Korea
LULuxembourg
NLNetherlands
NONorway
PTPortugal
SESweden
SGSingapore
TWTaiwan
ZASouth Africa

Italy: I shares are only notified to the CONSOB.

Singapore: Sub-funds registered with the MAS (Monetary Authority of Singapore) can only be offered to “accredited investors”.


Fiscal information

Titre Statut
End of fiscal year 31 December
UK RFS No
German transparency No
Austrian transparency No
Italian reporting Yes
Switzerland RNI Yes

Sustainability-related disclosure

 

Summary

This Sub-Fund invests at least 75% of its net assets in small and mid-cap equities issued by companies having their registered office in the European Union, in the United Kingdom and/or in the European Economic Area (excluding Liechtenstein). It favours sustainable quality growth business models: strongly financed, well managed, competitively advantaged companies with high or improving returns and exposure to growing end markets

The Sub-Fund promotes environmental characteristics but does not have as its objective sustainable investment. However, it will have a minimum proportion of 1% of sustainable investments.

The environmental characteristic promoted is to maintain a lower weighted average carbon intensity than the MSCI Europe Small Cap Index. The index is a standard reference representing the Sub-Fund’s universe but is not aligned with the environmental and social characteristics promoted by this Sub-Fund.

The objectives of the sustainable investments that this Sub-Fund partially intends to make may include but are not limited to:

- environmental objectives such such as climate change mitigation through resource efficiency: for example through investments in companies with revenues from products or services that help reduce the consumption of energy, raw materials, and other resources

- social objectives such as major disease treatment: for example through investments in companies with revenues from products or services for the treatment or diagnosis of major diseases of the world.

To ensure sustainable investments that this Sub-Fund intends to make do not cause significant harm, the Investment Manager assesses whether these companies do no harm through an internally-designed methodology which covers principal adverse impact, controversies, misalignment with SDGs and ESG/governance quality.

The Investment Manager takes into consideration and seeks to minimize the following potential principal adverse impacts of its investments: 1) GHG Intensity of Investee Companies, 2) Violations of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises and 3) Exposure to Controversial Weapons.

ESG considerations are an internal part of the investment process. The Investment Manager performs a negative screening and a norms-based screening to filter the investment universe. ESG related information is included in the suitability screen of the stock selection process. The portfolio construction considers ESG criteria as well as the contribution to risk that arises from ESG exposures.

Good governance practices are assessed through fundamental research through direct company engagements and analysis of public filings. Internal research is supplemented by ESG research from third party providers.

The ESG analysis, conducted internally or externally, covers 100% of the portfolio’s equity holdings.

This Sub-Fund intends to have a minimum of 90% of its assets aligned with the environmental or social characteristics promoted, including a minimum of 1% in environmentally and/or socially sustainable investments.

The binding criteria used to attain each of the environmental and/or social characteristics promoted by the Sub-Fund are integrated in control systems, to ensure pre- and post‑trade checks. Compliance is monitored by the Risk department on an ongoing basis.

The Investment Manager may use data reported directly by issuers or sourced from third-party data providers such as MSCI ESG Research or Sustainalytics. The service and data quality provided by third-party ESG data providers are reviewed regularly.

Depending on the metric considered, some data may be estimated by data providers. Although the Investment Manager applies a thorough selection process of third-party providers, their processes and proprietary ESG methodology may be flawed. As a result, there is a risk of incorrectly assessing an issuer, resulting in an inappropriate capture of ESG risks and potential incorrect inclusion or exclusion in the product. This is expected to have limited impact on the overall environmental and/or social characteristics promoted by the product.

The investment due diligence process ensures that the investment decisions comply with the objectives and the investment strategy of the Sub-Fund. The consideration of sustainability-related risks is integrated into the investment decision-making process to ensure better-informed investment decisions as well as awareness of the risk exposure. The first level of due diligence is conducted by the Investment Manager, while the second level is conducted by the Risk department.

Direct engagement with companies is a critical element of the strategy and is embedded in every stage of the investment process from initial investigation to ongoing assessment of portfolio holdings.

The Investment Manager exercises its voting rights, in line with the voting policy which follows sustainability principles.

No reference benchmark has been designated for the purpose of attaining the environmental or social characteristics promoted by this Sub-Fund.

No sustainable investment objective

This Sub-Fund promotes environmental or social characteristics but does not have as its objective sustainable investment.

However, it will have a minimum proportion of 1% of sustainable investments

The objectives of the sustainable investments that this Sub-Fund partially intends to make may include but are not limited to:

- environmental such as climate change mitigation through resource efficiency: for example through investments in companies with revenues from products or services that help reduce the consumption of energy, raw materials, and other resources

- social such as major disease treatment: for example through investments in companies with revenues from products or services for the treatment or diagnosis of major diseases of the world.

To ensure sustainable investments that this Sub-Fund intends to make do not cause significant harm, the Investment Manager assesses whether these companies do no harm through an internally-designed methodology which covers principal adverse impact, controversies, misalignment with SDGs and overall ESG/governance quality.

Companies having a share of their revenues contributing to a sustainable environmental or social objective are assessed to check that they do not cause severe adverse impact, provided that data is available and sufficient to make an informed decision.

Some PAI considerations are  taken into account at the overall Sub-Fund level through for instance the exclusion of companies in breach of international norms, including the UN Global Compact and OECD Guidelines for Multinational Enterprises (PAI 10), or the exclusion of companies involved in controversial weapons (PAI 14). 

For others, the criteria depend on the PAI considered. As an example, a company having activities identified as negatively affecting biodiversity-sensitive areas (PAI 7) would not be included as part of the "sustainable investment" allocation.

The investment manager relies on well recognised external data providers for PAI information.

This Sub-Fund does not invest in companies flagged as being in breach with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights according to external providers. For issuers not covered by external data providers the Investment Manager undertakes and documents its own analysis based on company filings and other sources.

However, it will have a minimum proportion of 1% of sustainable investments.

The objectives of the sustainable investments that this Sub-Fund partially intends to make may include but are not limited to:

- environmental such as climate change mitigation through resource efficiency: for example through investments in companies with revenues from products or services that help reduce the consumption of energy, raw materials, and other resources

- social such as major disease treatment: for example through investments in companies with revenues from products for the treatment or diagnosis of major diseases of the world.

This Sub-Fund also generally promotes investments in companies that protect biodiversity, cater to basic human needs, encourage sounder water and waste management, or enable the transition towards renewable energy with the common objective of transitioning towards a lower carbon economy.

To ensure sustainable investments that this Sub-Fund intends to make do not cause significant harm, the Investment Manager assesses whether these companies do no harm through an internally-designed methodology which covers principal adverse impact, controversies, misalignment with SDGs and ESG/governance quality.

Companies having a share of their revenues contributing to a sustainable environmental or social objective are assessed for avoidance of severe adverse impacts, provided that data is available and sufficient to make an informed decision.

Some mandatory principal adverse impacts from Table 1 of Annex 1 are taken into account primarily through the investment research, the application of the exclusion list and of the norms-based screening. These are also taken into account via the Sub-Fund's objective of maintaining a weighted average carbon intensity lower than that of the investment universe. For other mandatory PAIs not assessed via the Sub-Fund's exclusion list and norms-based screening, these are assessed for each sustainable investment relying on external data providers.

This Sub-Fund does not invest in companies flagged as being in breach with UN Global Compact, UN Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises or ILO Conventions according to the respective analyses by both external providers MSCI ESG Manager and Sustainalytics. For issuers not covered by external data providers the Investment Manager undertakes and documents its own analysis based on company filings and other sources.

Environmental or social characteristics of the financial product

The environmental characteristic promoted by this Sub-Fund is the lower carbon intensity versus its benchmark, the MSCI Europe Small Cap Index. The benchmark is a standard reference representing the Sub-Fund’s universe but is not aligned with the environmental and social characteristics promoted by this Sub-Fund.

This Sub-Fund promotes a lower carbon footprint paying attention to issuers’ greenhouse gas (GHG) emissions and climate strategy in order to maintain the Sub-Fund’s weighted average carbon intensity below that of its investment universe.

The sustainability indicator used for carbon footprint measurement is the weighted average carbon intensity, in tons of CO2 per million of USD revenues.

For more information, please see the fund’s Sustainability-related disclosures.

 

  • ISIN code
  • LU1611263655
  • Data as at
  • 25.01.2023
  • Latest NAV
  • 116.95 EUR
  • Fund's AUM
  • 70.96M EUR

Fund data

  • Fund name UBAM
  • Legal structure SICAV
  • Jurisdiction Luxembourg

Sub-fund data

  • Base currency EUR
  • Asset class Equity
  • Geographical bias Europe
  • Inception date 16.12.2016
  • SFDR classification 8

Share class data

  • Description YC EUR
  • Launch date 12.10.2017
  • Dividend type Capitalisation
  • Minimun initial investment None
  • Subscription Daily
  • Redemption Daily
  • Management fee 0.50%
  • Performance fee No
  • Performance fee rate N/A
  • Last dividend N/A

Identifiers

  • Bloomberg UBESYEC LX
  • Telekurs 36603490
  • Reuters N/A
  • WKN A2P5X8
  • SEDOL N/A
  • Morningstar N/A
  • Financial Express -

Manager(s)

    Charlie Anniss