LEGACY, PP.

ISIN | ES0162917001 Net Asset Value | 10.46€ 1D Return (%) | -0.19% YTD Return (%) | 9.76% Valuation Date | 17/10/2019 Registry No. | 43

INVESTMENT POLICY.

Legacy was launched in January 2016, as a long term instrument for savings, an as a complement to the public pension scheme. It’s an individual and independent (not bank related) Pension Fund, and has the vocation to be a reference for people who want to save along the years while they are working, via periodical instalments or one time annual investments, relying for this aim on a proffessional team of proven trackrecord: Cross Capital and Caser Pensiones.

As a Pension Fund, its destinated to cover some contingencies, basically the retirement, but also the incapacity, the dependency and death. In addition, it covers special situations of lack of liquidity, as long-term unemployment and severe disease.

We apply an investment approach that allows the investor taking benefit from the macroeconomic trends, using a methodology proven during more than 15 years, which’s fundamental value comes from the strategic and tactical asset allocation. It has a moderate risk profile and can invest up to 100% of it’s assets in equity, domestic and/or international. The rest of the assets could be invested in fixed income, corporate or public, directly or via mutual funds and/or ETFs (Exchange Traded Funds).

Geographically, the investments are based in OCDE countries. The currency exposure to Non-Euro could reach a maximum of 75% of the assets. The objective is capital preservation and to achieve in a consistent pace an absolute return performance of 5% annual in the medium term. 

We apply a rigorous risk control: there is a limitation in the exposure to high yield debt to 5 years duration, out of a total duration for the fixed income arm up to 10 years. Derivatives are used basically for hedging purposes.
We recommend investor an investment horizon higher than 5 years.

It’s not a benchmark driven portfolio management, due to it’s absolute return objective, fixed in 5% annual.

MAIN FEATURES.

Invesment Advisor (RIA)Cross Capital
Inception Date01-01-2016
Ticker (Bloomberg)N5095 SM
Fees

  • Management
  • Depositary
 

1,50% Annual
0,102% Annual

Minimum Invesment60 €
DepositaryCECABANK
null

Munesh Melwani

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Munesh Melwani

NET ASSET VALUE (NAV).

PERFORMANCE.

AnnualJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
20199,41%3,97%1,90%1,08%2,20%-2,69%2,47%0,72%-0,51%
2018-9,96%-0,53%-0,36%-2,00%0,81%-0,29%-0,64%1,38%-0,21%0,32%-4,42%-0,4%-4,34%
20174,33%0,27%1,46%0,78%0,77%0,36%-1,04%0,16%-0,18%0,94%1,33%-0,60%0,02%
20161,41%-0,11%-0,2%1,73%0,37%-0,31%-0,59%-0,76%1,13%

 

*Data as of 31 August 2019

AnnualJanuaryFebruaryMarchAprilMayJune
20199,41%3,97%1,90%1,08%2,20%-2,69%2,47%
2018-9,96%-0,53%-0,36%-2,00%0,81%-0,29%-0,64%
20174,33%0,27%1,46%0,78%0,77%0,36%-1,04%
20161,41%-0,11%-0,2%

 

*Data as of 31 July 2019

JulyAugustSeptemberOctoberNovemberDecember
20190,72%-0,51%
20181,38%-0,21%0,32%-4,42%-0,40%-4,34%
20170,16%-0,18%0,94%1,33%-0,60%0,02%
20161,73%0,37%-0,31%-0,59%-0,76%1,13%

 

*Data as of 31 August 2019

RISK AND RETURN.

PerformanceAnnual Return
1 month-0,51%
3 months2,69%
1 year-0,11%-0,11%
3 years2,21%0,73%
5 years
Since inception4,19%1,24%
Annualized Volatility (d)Sharpe Ratio
4,53%0,36
Maximum Drawdown (12m)VaR (95%/1m)
-10,00%1,30%

PORTFOLIO DETAIL.

TOP HOLDINGS
Groupama Ultra Sh Term9,99%
MSIF Euro Strat Bond8,01%
CS Corto Plazo7,43%
Invesco Physical Gold5,34%
Groupama Avenir Euro4,30%
EXPOSICIÓN A DIVISAS
Euro64,02%
US Dollar22,11%
Others Development Markets8,12%
Emerging Markets5,75%
ASSET CLASS BREAKDOWN
  • RENTA VARIABLE

  • RENTA FIJA

  • A. MONET.

  • ALTERNATIVOS

42,86%  MONEY MARKETS

30,74% FIXED INCOME

19,26% EQUITY

7,14% ALTERNATIVES

EQUITY SECTOR BREAKDOWN
  • ENERGIA

  • FINANZAS

  • C. ESTABLE

  • C.DISCRECIONAL

  • INDUSTRIALES

  • MATERIALES

  • SALUD

  • INFRAESTRUCT.

  • TECNOLOGÍA

  • TMT

6,90% CONSUMER DISCRETIONARY

9,99% CONSUMER STAPLES

2,87% ENERGY

27,87% FINANCE

13,36% INDUSTRIALS

4,89% UTILITIES

4,45% MATERIALS

5,82% HEALTHCARE

17,74% IT

6,11% TMT