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Lupus alpha Micro Champions A

WKN : A2JB8X | ISIN: LU1891775774

Lupus alpha Micro Champions A

Lupus alpha Micro Champions invests predominantly in European micro caps, utilizing a focused bottom-up strategy. This segment is mostly comprised of niche players with above-average return potential. The strategy uses quantitative fundamental analysis and qualitative methods to identify these stocks for investors.

Highlights

  • Return potential of attractive micro caps as promising investments

  • Clearly focused on European micro caps with a market capitalisation of 50 million to 1 billion Euro

  • Broad diversification across sectors and countries helps to reduces potentially higher volatility

  • Largely undiscovered equity segment with a high degree of inefficiency

  • Uncompromising bottom-up strategy: face-to-face meetings with management a clear priority
Team expertise

The portfolio management team draws upon all of Lupus alpha’s specialist expertise in the small- and mid-cap segment:

FOCUSED TEAM

... and one of the largest small & mid cap teams in Europe

LONGSTANDING EXPERIENCE

... in the team and an excellent track record since 2001

DETAILED COMPANY KNOWLEDGE

... based on around 1,500 direct and personal company contacts per year

LARGE INVESTMENT UNIVERSE

... with around 2,000 individual stocks – ideal for stock picking to achieve alpha

Investment concept

Bottom-up strategy for European micro caps

Lupus alpha Micro Champions invests predominantly in European micro caps utilizing a focused bottom-up strategy. They rarely appear on most asset managers' radar screens due to their small size. The resulting market inefficiencies are essential for above-average yields. Our fund managers can use fundamental equity research to gain significant information advantages and exploit attractive return opportunities. The combination of meticulous stock selection and broad diversification across sectors and countries reduces the high volatilities at portfolio level compared to large-cap stocks.

European micro caps are often niche players with a focused business model, above-average return potential and high growth potential. You can now make the most of their advantages, as these niche segments are often too 'narrow' for most major corporations and thus less interesting to them. Micro caps' high degree of specialisation also acts as a high barrier to entry for potential competitors. Nevertheless, attractive micro caps cannot be unearthed while sitting behind a desk: when selecting stocks, the most crucial element for Lupus alpha, apart from quantitative fundamental, analysis is to qualitatively assess the management. As part of this concept our team of specialists hold intensive meetings with management to build a picture of a company's unique features and potential in person. Only a focused bottom-up strategy like this enables us to open up the unique return potential of European micro caps to investors over the long term.

Investment objective

The objective of Lupus alpha Micro Champions is to outperform the benchmark index (MSCI Europe Micro Cap Net Total Return Index) over the long term.

Our Portfolio managers

Experienced fund manager

Jonas Liegl, the experienced small- and mid-cap fund manager, has more than 10 years of experience in the analysis and portfolio management of European micro-, small- and mid-caps for large institutional mandates. Rohan Haritwal, CFA, joined Lupus alpha's portfolio management team in 2022 and is jointly responsible for the Lupus alpha Micro Champions fund.

Jonas Liegl, Portfolio Manager bei Lupus alpha
Jonas Liegl
CFA, Portfolio Management Small & Mid Caps Europa
Rohan Haritwal
Rohan Haritwal
CFA, Portfolio Management Small & Mid Caps
Fund data
Performance since 01.07.2014: +1.75 %
As of: 31.07.2014

Performance (gross in EUR)¹:

fromtoLupus alpha Micro Champions AMSCI Europe Micro Cap Net Total Return Index⁸
1 month 29.02.202428.03.20240.51 %2.14 %
90 days 29.12.202328.03.2024-1.35 %-0.66 %
1 year 28.03.202328.03.2024-5.76 %0.49 %
3 years 26.03.202128.03.2024-13.68 %-17.59 %
5 years 28.03.201928.03.202438.05 %16.70 %
this year 29.12.202328.03.2024-1.35 %-0.66 %
since inception 06.02.201928.03.202443.67 %18.46 %
since inception p.a. 06.02.201928.03.20247.30 %3.35 %

12-month-timeframe (gross)Lupus alpha Micro Champions AMSCI Europe Micro Cap Net Total Return Index⁸
31.03.2023 - 31.03.2024-5.76 %0.49 %
31.03.2022 - 31.03.2023-14.43 %-17.00 %
31.03.2021 - 31.03.20227.45 %-0.50 %
31.03.2020 - 31.03.202185.25 %60.65 %
31.03.2019 - 31.03.2020-13.19 %-11.76 %

Key Statistics³:

as ofLupus alpha Micro Champions AMSCI Europe Micro Cap Net Total Return Index⁸
Volatility p.a. 28.03.202414.68 %15.89 %
Tracking Error 28.03.20247.48 %n.a.
Investment Quota 28.03.202493.28 %n.a.

Top ten holdings as of 28/03/2024

Amadeus FiRe AG
Bloomsbury
Cembre SpA
DiscoverIE Group
Hanza Holding AB
Hollywood Bowl Group
JOST Werke AG
Mensch u. Maschine
Nexus AG
SGL Carbon SE
Total number of assets: 68
Total weight of top ten: 25.26 %

Sector allocation as of 28/03/2024

Country allocation as of 28/03/2024

Chances

  • Participation in fundamental and technical events of individual stocks.
  • You can benefit from the deep network that our fund managers foster with Small & Mid Cap companies of our investment universe.
  • The investment process enhances the security selection and ensures permanent monitoring of risks.
  • You can benefit from information advantages tath arise from the lower analyst coverage of Small & Mid Cap companies.
  • Promising upside potential of European Small & Micro Cap stocks. 

 

Risks

  • Risk of price changes: Experience shows that equities are subject to sharp price fluctuations and thus the risk of price declines. These fluctuations are particularly impaced by the earnings development of the issuing company as well as sector trends and overall economic development.
  • Concentration risk: If investment is concentrated on particular assets or markets, the fund becomes particularly heavily dependent on the performance of these assets or markets.
  • Operational risk: The fund can become the victim of fraud, criminal acts or errors by company employees or external third parties. Finally, managment of the fund can be negatively impacted by external events such as fires, natural disasters or similar.
  • Liquidity risk: If securities are traded in a relatively narrow market segment, it can be difficualt to resell them in situations where there is insufficient liquidity.
  • Market risk: The performance of financial products depends on the development of the capital markets.
  • Currency risk: Changes in exchange rates can affect the price of fund shares.

Current fund data as of 04/23/2024

Lupus alpha Micro Champions A
WKN : A2JB8X | ISIN: LU1891775774
Currency
EUR
Issue price
148,35
Redemption price
141,29
Fund volume
133,80 Mio.
Launch date
06. February 2019
Minimum investment amount
none
Distribution frequency
distribution
Portfolio managers
Jonas Liegl, Rohan Haritwal
Performance fee
20 %
Administration fee
1,8 %
Subscription fee
up to 5 %
Benchmark⁸
MSCI Europe Micro Cap Net Total Return Index
Fund price publication
www.fundinfo.com
Features9
Forward pricing (order day and trading day are distinct): Trading takes place five days after the order day, involving return of units and redemption orders (order day is 5 days before the trading day).

Current fund data as of 04/23/2024

Lupus alpha Micro Champions C
WKN : A2JB8Y | ISIN: LU1891775857
Currency
EUR
Issue price
156,61
Redemption price
149,15
Fund volume
133,80 Mio.
Launch date
31. January 2019
Minimum investment amount
500.000
Distribution frequency
distribution
Portfolio managers
Jonas Liegl, Rohan Haritwal
Performance fee
20 %
Administration fee
0,9 %
Subscription fee
up to 5 %
Morningstar Rating
★★★★
Benchmark
MSCI Europe Micro Cap Net Total Return Index
Fund price publication
www.fundinfo.com
Features9
Forward pricing (order day and trading day are distinct): Trading takes place five days after the order day, involving return of units and redemption orders (order day is 5 days before the trading day).

Current fund data as of 04/23/2024

Lupus alpha Micro Champions CAV
WKN : A0EAM5 | ISIN: LU0218245263
Currency
EUR
Issue price
207,74
Redemption price
197,85
Fund volume
133,80 Mio.
Launch date
16. June 2005
Minimum investment amount
500.000
Distribution frequency
distribution
Portfolio managers
Jonas Liegl, Rohan Haritwal
Administration fee
2 %
Subscription fee
up to 5 %
Morningstar Rating
★★★★
Benchmark9
MSCI Europe Micro Cap Net Total Return Index
Fund price publication
www.fundinfo.com
Features10
Forward pricing (order day and trading day are distinct): Trading takes place five day after the order day, involving return of units and redemption orders (order day is 5 day before the trading day).
  1. Source: Lupus alpha; gross performance (BVI method): The gross performance considers all costs incurred at Fund level (e. g. management fee) and assumes reinvestment of any distributions. Costs incurred at customer level such as sales charge and securities account costs are not included. Unless otherwise specified, all indicated performance data show the gross performance. Please note: Past performance is not a reliable indicator the future performance.
  2. Source: Lupus alpha; the net performance assumes a model calculation based on an invested amount of EUR 1,000, the maximum sales charge and a redemption charge (see master data). It does not include individual costs of the investor, such as a securities account fee. (To this effect, please refer to the price list of your securities account provider.) Please note: Past performance is not a reliable indicator for future performance
  3. Volatility is the range of variation of a security price or index around its mean value over a fixed period of time. A security is regarded as volatile if its price fluctuates heavily. The tracking error describes the standard deviation (volatility) between the Fund's performance and the performance of the benchmark index. The higher the tracking error, the more the performance of the Fund deviates from the performance of the benchmark index. The investment ratio means the part of the Fund that is not invested in cash.
  4. The sales charge is the difference between the sales price and the unit value. The sales charge varies depending on the type of the Fund and the distribution channel and usually covers the advisory and distribution costs. The Distributor will demand the sales charge at its own discretion.
  5. The management fee is the fee for managing the Fund and taken from the Fund's assets; it is paid to Lupus alpha for the management and administration of the Fund.
  6. The performance fee is a performance-related remuneration depending on the performance or the achievement of specific objectives such as a better performance compared to a benchmark. The costs may also be levied if a pre-defined minimum performance has been achieved
  7. Distributing Funds do not reinvest the generated income, they pay out the income to the investor.
  8. Change of benchmark index as of 01.01.2021: previous benchmark index: Euro Stoxx® TMI Small Return Index
  9. for orders that reach the custodian before 12.00 PM on any valuation day
  10. Morningstar Rating™ Total: © (2019) Morningstar Inc. All Rights Reserved. The information contained herein: 1. is intended for Morningstar and/or its content providers. 2. may not be reproduced or distributed; and 3. their accuracy, completeness or timeliness is not guaranteed. Neither Morningstar nor their content providers are responsible for any damages or losses arising from the use of this information. Ratings related to the previous month.
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