La Factsheet<\/a><\/p>\nThis new and expanded version contains, among other things:<\/p>\n
1\/ Several risk indicators on the fund: Volatility, Semi-volatility* (or Downside Vol) and Max Draw Down**.
\nFor these indicators, you will see that the fund ranks well: the 5-year volatility is at 7.9% but the Downside Vol (the one that counts) is at 4.9%. Finally, on the MaxDrawdown, we are at -9.8%, hit at the beginning of the COVID in March 2020 - no significant drawdown this year due to our cautious positioning.<\/p>\n
2\/ On the equity side, the breakdown by capitalisation, sector and region.
\nIt should be noted that 72% of the equity allocation is made up of MegaCap stocks (capitalisation of over $50bn): no liquidity risk on this type of stock, which is consistent with an asset-based fund with daily liquidity.<\/p>\n
3\/ On the bond side (Credit), the breakdown by Rating and by Maturity.
\nHere we note that bonds rated Investment Grade (A or better) represent 85% of the bond allocation.<\/p>\n
For the sake of simplicity, we have not detailed our derivative positions. They are mainly made up of :
\n1) a future hedge position on the SP500 index which brings our net equity exposure to 10%.
\n2) a future hedge position on the USD which reduces our net exposure to the USD to 5%.<\/p>\n
Finally, this factsheet is your factsheet: we are of course happy to receive any comments or requests you may have so that this document can be as useful as possible.<\/p>\n
Furthermore, Monocle Fund is now article 8 SFDR!<\/strong>
\nThis means that the fund takes a responsible approach to investment by taking into account environmental and good governance characteristics and by excluding companies active in controversial sectors such as tobacco.<\/p>\n* Semi volatility: a measure of the risk of downward performance of the fund, which is not affected by upward returns
\n** Max drawdown: maximum loss since the last peak in the fund's NAV.<\/p>\n
\nMarket and portfolio focus<\/strong><\/p>\nBehaviour:<\/strong>\u00a0:
\nThe US consumer price index came out above expectations yesterday afternoon. Core inflation (i.e. inflation excluding energy and food prices) rose sharply in August (+0.6% against expectations of +0.3%). The markets corrected sharply. The S&P500 closed down 4%.<\/p>\nLines:<\/strong>\u00a0:
\nNo significant trades in the fund this week.<\/p>\nHave a great week,<\/p>\n
Charles<\/p>","protected":false},"excerpt":{"rendered":"
Chers investisseurs, Pour cette semaine, le billet se concentre sur le fonds Monocle avec la Factsheet du mois d’ao\u00fbt 2022, nouveau format. La Factsheet Cette nouvelle version, plus…<\/p>","protected":false},"author":8,"featured_media":3242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-le-billet-de-monocle"],"acf":[],"yoast_head":"\n
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