Lupus alpha Micro Champions CAV

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WKN : A0EAM5 | ISIN: LU0218245263

Lupus alpha Micro Champions CAV

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 to €750 million

  • 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 1,000 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 (DJ EURO STOXX® Small Return) 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. Franz Führer is also a fund manager with considerable experience in small and mid caps, and has been with Lupus alpha since 2001

Jonas Liegl
CFA, Portfolio Management Small & Mid Caps Europa
Franz Führer
Partner, Portfolio Management Small & Mid Caps Europe
Fund data
Performance since 01.07.2014: +1.75 %
As of: 31.07.2014

Performance (gross in EUR)¹:

fromtoLupus alpha Micro Champions CAVMSCI Europe Micro Cap Net Total Return Index⁸
1 month 31.08.202130.09.2021-2.37 %-2.50 %
90 days 02.07.202130.09.20218.31 %-0.20 %
1 year 30.09.202030.09.202165.08 %42.42 %
3 years 28.09.201830.09.202196.23 %49.29 %
5 years 30.09.201630.09.2021210.63 %89.72 %
this year 30.12.202030.09.202133.14 %23.46 %
since inception 16.06.200530.09.2021448.26 %223.49 %
since inception p.a. 16.06.200530.09.202111.00 %7.47 %

12-month-timeframe (gross)Lupus alpha Micro Champions CAVMSCI Europe Micro Cap Net Total Return Index⁸
30.09.2020 - 30.09.202165.08 %42.42 %
30.09.2019 - 30.09.202017.84 %0.91 %
30.09.2018 - 30.09.20190.87 %3.88 %
30.09.2017 - 30.09.20189.38 %-0.26 %
30.09.2016 - 30.09.201745.07 %28.68 %
30.09.2015 - 30.09.20166.18 %2.57 %
30.09.2014 - 30.09.201523.84 %7.33 %
30.09.2013 - 30.09.201410.45 %7.63 %
30.09.2012 - 30.09.201324.30 %23.57 %
30.09.2011 - 30.09.201211.24 %8.64 %

Key Statistics³:

as ofLupus alpha Micro Champions CAVMSCI Europe Micro Cap Net Total Return Index⁸
Volatility p.a. 30.09.202113.59 %19.67 %
Tracking Error 30.09.202111.33 %n.a.
Investment Quota 30.09.202197.32 %n.a.

Top ten holdings as of 30/09/2021

468 Spac I SE
BEWi ASA
Crayon Group Holding AS
Fine Foods & Pharmac.
Gofore Oyj
Incap Oyj
Medios AG
Note AB
Seco SpA
Vitec Group PLC
Total stocks: 96
Total weight of top ten: 21.90 %

Sector allocation as of 30/09/2021

Country allocation as of 30/09/2021

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 10/14/2021

Lupus alpha Micro Champions CAV
WKN : A0EAM5 | ISIN: LU0218245263
Currency
EUR
Issue price
294,80
Redemption price
280,76
Fund volume
219,71 Mio.
Launch date
16. June 2005
Minimum investment amount
500.000
Distribution frequency
distribution
Portfolio managers
Jonas Liegl , Franz Führer
Administration fee
2 %
Subscription fee
up to 5 %
Morningstar Rating
★★★★★
Benchmark⁸
MSCI Europe Micro Cap Net Total Return Index
Fund price publication
www.fundinfo.com

Current fund data as of 10/14/2021

Lupus alpha Micro Champions A
WKN : A2JB8X | ISIN: LU1891775774
Currency
EUR
Issue price
210,93
Redemption price
200,89
Fund volume
219,71 Mio.
Launch date
06. February 2019
Minimum investment amount
none
Distribution frequency
distribution
Portfolio managers
Jonas Liegl , Franz Führer
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

Current fund data as of 10/14/2021

Lupus alpha Micro Champions C
WKN : A2JB8Y | ISIN: LU1891775857
Currency
EUR
Issue price
217,80
Redemption price
207,43
Fund volume
219,71 Mio.
Launch date
31. January 2019
Minimum investment amount
500.000
Distribution frequency
distribution
Portfolio managers
Jonas Liegl , Franz Führer
Performance fee
20 %
Administration fee
0,9 %
Subscription fee
up to 5 %
Benchmark⁸
MSCI Europe Micro Cap Net Total Return Index
Fund price publication
www.fundinfo.com

This fund information is provided for general information purposes. This information is not designed to replace the investor‘s own market research nor any other legal, tax or financial information or advice. The information presented does not constitute an invitation to buy or sell or investment advice. It does not contain all key information required to make important economic decisions and may differ from information and estimates provided by other sources or market participants. We accept no liability for the accuracy, completeness or topicality of this information. All statements are based on our assessment of the present legal and tax situation. All opinions reflect the current views of the portfolio manager and can be changed without prior notice. Full details of our funds and their licenses of distribution can be found in the relevant current sales prospectus and, where appropriate, Key Investor Information Document , supplemented by the latest audited annual report and/or half-year report. The relevant sales prospectus and Key Investor Information Documents prepared in German are the sole legally-binding basis for the purchase of funds managed by Lupus alpha Investment GmbH. You can obtain these documents free of charge from Lupus alpha Investment GmbH, P.O. Box 1112 62, 60047 Frankfurt am Main, Germany, upon request by calling +49 69 365058-7000, by e-mailing service@lupusalpha.de or via our website www.lupusalpha.de. If funds are licensed for distribution in Austria the respective sales prospectus, Key Investor Information Document and the latest audited annual report or half-year report are available from the Austrian paying and information agent UniCredit Bank Austria AG based in Rothschildplatz 1, 1020 Vienna, Austria. Fund units can be obtained from banks, savings banks and independent financial advisors.

Neither this fund information nor its contents or a copy thereof may be amended, reproduced or transmitted to third parties in any way without the prior written consent of Lupus alpha Investment GmbH. By accepting this document, you declare your consent to comply with the aforementioned provisions. Subject to change without notice.

Lupus alpha Investment GmbH
Speicherstraße 49–51
D-60327 Frankfurt am Main

  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 for 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. Performance fees of investement companies are frequently bound by a high water mark - tha all-time high of the fund. This means that a commission entitlement aries only if that mark has been exceeded.
  7. Distributing Funds do not reinvest the generated income, they pay out the income to the investor.
  8. 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.
  9. Change of benchmark index as of 01.01.2021: previous benchmark index: Euro Stoxx® TMI Small Return Index
Awards
€uro Fund Award 2021
€uro Fund Award 2020
Lipper Fund Awards from Refinitiv 2019
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