ALPORA Innovation World Large Caps
Fund size USD 5 Mio.
Past performance is not a reliable indicator of future performance. Please note that the aforementioned performance is shown in the fund currency USD (US Dollar) and not Euro and therefore currency influences in investment currencies other than the fund currency are not taken into account in the performance shown.
The investment process in the ALPORA Innovation World Large Caps Fund to identify high-quality innovators consists of a four-step procedure. In the first step, we calculate an “Efficient Frontier of Innovation” by considering defined input and output metrics of the innovation process, using a mathematical optimization procedure. The optimization model allows multiple quantitative parameters on both the input and output sides to be dynamically calculated based on the investment universe. This provides an objective performance comparison of the companies. Each company is assigned an innovation score, measured within the context of the investment universe (developed Markets). In addition to our Innovation Factor model, the quality of the companies is measured using the long-established ARTICO model. Based on the Innovation Factor and the Quality Factors model, a combined Quality Innovation Score (including innovation, growth, profitability, balance sheet strength, valuation, and ESG) is calculated in the second step, with the Innovation Factor being the primary factor. In the third step, the investment team conducts a qualitative analysis of the innovators regarding their future viability and coverage of relevant market and technology trends. In the fourth and final step, portfolio construction takes place. Here, the Quality Innovation Scores of the companies are maximized using an optimization approach, while undesired risks are mitigated through relative weight constraints. The target portfolio size is 45 stocks. Valuation metrics are secondary in this selection, allowing companies in early growth stages to be included in the portfolio composition.
Portfolio Management
- Patrick Hofer
-
Investment Manager
Serafin Innovation Hub / Quality Swiss Equities - +41 (41) 726 71 76
- Dr. Niklas Bayrle
-
Investment Manager
Serafin Innovation Hub - +41 (41) 726 71 71
Portfolio Management
- Patrick Hofer
-
Investment Manager
Serafin Innovation Hub / Quality Swiss Equities
- Dr. Niklas Bayrle
-
Investment Manager
Serafin Innovation Hub
Learn more about the ESG fund classification
Sustainability / ESG
Brief profile:
ALPORA Innovation World Large Caps
Invest in innovation champions worldwide and rely on profitable innovation leaders!
Publications
INNOVATION HUB INSIGHTS | AI
WHITE PAPER | QUALITY INNOVATION
WHITE PAPER | INFLATION
TWO PAGER | QUALITY INNOVATION
Breakdown by sectors
Breakdown by currencies
Breakdown by countries
Comment September 2024
The ALPORA Innovation World Large Caps Fund was not quite able to keep up with the recovery in the comparable MSCI World ETF in September.
Linde PLC is a global leader in the industry of industrial gases and engineering services. In addition to industrial gases, the company offers technologies and solutions for gas processing. These are used to produce clean hydrogen, carbon capture (in the energy sector), specialty gases (electronics), and medical oxygen. Linde is advancing its technologies that contribute to decarbonization and sustainability. Notably, the company is engaged in hydrogen technologies: Linde operates the largest global network of hydrogen production facilities and develops solutions for emissions-free energy generation. Additionally, Linde is working on carbon capture and storage (CCS) projects to reduce environmental impact. Continuous investment in advanced technologies and the integration of renewable energies position Linde as a key player in the transition to a low-carbon economy. The company’s innovation power and market leadership make it an important position in the portfolio.
ESG implementation:
We take ESG aspects into account in the financial analysis and investment decision-making process, applying a combination of exclusion criteria and ESG integration approach in the investment process. The abbreviation ESG stands for "Environmental - Social - Governance".
For the analysis within the sustainability approach, we rely on data from selected third-party providers and, if necessary, on our own analyses. The analysts and portfolio management teams are responsible for both the financial analysis and the ESG analysis. In this way, we ensure that the assessment and implementation are carried out on a recurring basis by the decision-makers in the respective fund as part of a comprehensive and integrated investment process.
In our investment process, we do not per se exclude investments in companies with weaker ESG ratings: Companies that address the issue of sustainability convincingly and consistently can be interesting portfolio companies.
Latest ESG reporting:
- Classification with regard to U.N. Global Compact Ten Principles:
All portfolio companies in the fund comply with the U.N. Global Compact Ten Principles. - Current portfolio structure using the ESG Risk Rating (by Sustainalytics):
The above fund is a financial product within the meaning of Article 8 of Regulation (EU) 2019/2088 (Disclosure Regulation).
For more information on the fulfillment of environmental and/or social characteristics, please refer to the fund prospectus.
Sustainability-related disclosures
| Domicile of fund | Luxembourg |
|---|---|
| Legal form | SICAV (UCITS V) |
| Investment universe | Global (Developed Markets) |
| Investment manager | Serafin Asset Management Ltd, Zug |
| Management company | VP Fund Solutions (Luxembourg) SA, Lux |
| Custodian bank | VP Bank (Luxembourg) SA, Lux |
| Launch date | 17.12.2019 |
| Recommended investment horizon | 5 years |
| Reference currency | USD |
| ISIN / Bloomberg-Ticker (respective share class) | A USD: LU2084863575 / GIIWLCA LX B CHF-hedged: LU2084868962 / GIIWLCB LX C USD: LU2084869424 / GIIWLCC LX E EUR-hedged: LU2127862683 / GLWLAEE LX G EUR-hedged: LU2127862840 / GLWLAGE LX |
| Distributions | accumulating |
| Subscription and redemption | daily (cut-off 12.00 CET) |
| Tax transparency | CH, AT |
| Tax status Germany | Equity fund pursuant to InvStG with partial exemption |
| Registered for public distribution | CH, DE, AT, LUX, UK |
Gebührenstruktur
| Subscription and redemption fee | none |
|---|---|
| Management fee p.a. | Tranche A USD: 1.04% Tranche B CHF-hedged: 1.04% Tranche C USD: 1.54% Tranche E EUR-hedged: 1.04% Tranche G EUR-hedged: 1.54% |
| MiFID fee for third party research p.a. | 0.04% |
| Total expense ratio p.a. (per 31.03.2023; TER) | Tranche A USD: 1.56% Tranche B CHF-hedged: 1.55% Tranche C USD: 2.05% Tranche E EUR-hedged: 1.55% Tranche G EUR-hedged: 2.05% |
| Duration | Fund | MSCI World ETF |
|---|---|---|
| 1 month | 0.1% | -0.7% |
| 3 months | 0.5% | 3.3% |
| 12 months | 29.6% | 35.4% |
| 3 years p.a. | 3.7% | 7.1% |
| since inception p.a. | 8.3% | 11.8% |
| Year | ||
| 2024 | 8.7% | 17.9% |
| 2023 | 19.2% | 24.2% |
| 2022 | -15.9% | -18.8% |
| 2021 | 15.7% | 22.4% |
| 2020 | 16.0% | 16.3% |
| since inception | 46.4% | 70.4% |
Risk ratios (rolling over the last 3 years)
| Volatility (p.a.) | 17.4% |
|---|---|
| Sharpe ratio (3.57% Risk free rate) | 0.06 |
| Beta (vs. MSCI World ETF) | 1.01 |
The gross performance takes into account the costs incurred at fund level (e.g. management fee) without including the costs incurred at investor level (e.g. front-end load and custody fees). The net performance also takes into account an initial sales charge of 0.00% in the first period under review.