Bellevue BB Entrepreneur Europe Fund
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Overview
Long-only European equities fund focused on family / founder owned companies
Key Facts
Why an ‘entrepreneur’ fund? Family/founder owned companies have been shown to outperform. The average CEO tenure of a family owned company is c. 8 years vs. c. 3.5 years. They employ their own capital so there is a strong alignment of interest between owners and management; they generally exhibit a more efficient use of funds and less debt. There is also generally a higher degree of discipline with pay and expenses, and greater business efficiencies
Investment Universe There are over 600 listed ‘entrepreneur’ companies in Europe, which are defined by their having at least 20% of their voting shares in the ownership of the founding families or entrepreneurs. The Fund is multi-cap with a bias towards mid-caps
Investment Process Top down analysis of global mega trends followed by bottom-up stock picking with fundamental research
Portfolio Construction The Fund typically holds 30-40 positions
Fund Managers
Birgitte Olsen, CFA
Heads the Entrepreneur Team & mandates. 19 years experience in European and Swiss equities
Dr Miroslav Zuzak, CFA Portfolio manager & analyst for the Entrepreneur funds. 7 years investment experience in European and Swiss equities
Frank Rauber Portfolio manager & analyst for the Entrepreneur funds. 20 years investment experience in European and Swiss equities
Achim Wagner Portfolio manager & analyst. 23 years investment experience in European equities including long/short strategies
Why the Bellevue Entrepreneur Europe Fund?
Exclusive strategy focusing on economic sustainability with a strong outperformance pattern versus its benchmark and European peer funds since inception. The highly experienced investment team have a proven track record of investing in successful ‘entrepreneur’ companies both in this fund and the longer established Swiss equity fund
Literature
(see EUR for track record)
Fund Facts
Fund Type: UCITS IV SICAV
Domicile: Lux
Currency: £/€/CHF
Dividends: Accumulated
Benchmark: Stoxx Europe 600 TR
Fund Inception: 30 April 2009
Share Class:
B (Retail), I (Institutional)Minimum investment:
none (B), €500,000 (I)Initial Charge:
Up to 5% (B), up to 1% (I)AMC: 1.60% (B), 0.90% (I)
Administrator: RBC Dexia
Dealing: Daily at 3pm CET