AMG Schweizer Perlen
Fund size CHF 25.2m
Past performance is not a reliable indicator of future performance. Please note that the aforementioned performance is shown in the fund currency CHF (Swiss franc) 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 equity fund invests in Swiss companies from the small & mid-cap segments. Mid-cap companies are the core weighting of investments, whereby the fund invests both in value and, to a greater extent, in growth stocks. The investment portfolio consists mainly of shares in quality companies, supplemented by opportunity values such as turnaround or takeover candidates. The profound in-house analysis expertise enables us to actively realize investment opportunities that arise along the market cycles. This fundamental bottom-up approach results in a dynamic portfolio of leading Swiss small & mid-caps.
Portfolio Management
- Ronald Wildmann
- Portfolio Management
Research - ronald.wildmann[at]serafin-am.com
- +41 (41) 726 71 62
- Patrick Hofer
- Portfolio Management
Client Relationship Management - patrick.hofer[at]serafin-am.com
- +41 (41) 726 71 76
Portfolio Management
- Ronald Wildmann
- Portfolio Management
Research
- Patrick Hofer
- Portfolio Management
Client Relationship Management
Learn more about the ESG fund classification
Sustainability / ESG
Brief profile: AMG Schweizer Perlen Fund
Invest in growth-oriented Swiss companies. We are your pearl divers!
Breakdown by sectors
Comment May 2023
Investor sentiment remains cautious and there is room for positive surprises. On the other hand, technology-heavy stocks are benefiting from the hype around artificial intelligence (AI) and its impact on the industry. Surprisingly, Gustavo Möller-Hegt, CEO of ALSO Holding, has announced that he will step down from his position as CEO as of May 2024. However, he will continue to serve as Chairman of the Group's Board of Directors. A successor has not yet been named. As this announcement was made well in advance and Gustavo Möller-Hegt will remain on board as Chairman of the Board of Directors, continuity is ensured. In an interview with Finanz und Wirtschaft, Bachem CEO Thomas Meier caused confusion. The statement that growth would be limited until the completion of the new capacities (2024/25) led to selling pressure on the market. However, Thomas Meier pointed to the solid pipeline and mentioned new applications of oligonucleotides for lowering cholesterol, treating cardiovascular disease, and immunotherapy for eye diseases. Market estimates for GLP-1 agents to combat obesity are steadily increasing. Burckhardt Compression surprised the market with a positive profit warning. Due to the further normalization of supply chains, more projects than planned can currently be completed. In contrast, EMS-Chemie disappointed the market with another negative profit warning. Lastminute.com presented a strong increase in revenue and EBITDA as well as a high booking situation in the Q1 2023 report. The share of profitable customer packages has further increased. After the repayment of the outstanding amounts to SECO, net cash still exceeds CHF 80 million. LEM's business figures for the 2022/23 financial year just exceeded the average expectations of analysts. Sales growth was mainly driven by Automotive and Energy Distribution. The backlog declined as expected and returned to pre-pandemic levels. Overall, the company delivered solid results and provided confident guidance for the mid- to long-term future. Straumann achieved organic growth slightly above market expectations in the first quarter of 2023. As announced, the business in China was negatively impacted by the introduction of a government-regulated pricing structure and the impact of Covid. The guidance for 2023 was confirmed.
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.
| Domicile of fund | Liechtenstein |
|---|---|
| Legal form | Collective Trust (UCITS) |
| Investment universe | Small & Mid Caps Switzerland |
| Investment manager | Serafin Asset Management Ltd, Zug |
| Management company | LLB Fund Services AG, Vaduz |
| Custodian bank | Liechtensteinische Landesbank AG, Vaduz |
| Launch date | 30.11.2007 |
| Recommended investment horizon | 5 years |
| Reference currency | CHF |
| ISIN / Bloomberg-Ticker | LI0033242210 / MCSEESP LE |
| Distributions | accumulating |
| Subscription and redemption | daily (cut-off 09.00 CET) |
| Tax transparency | CH, AT |
| Tax status Germany | Equity fund pursuant to InvStG with partial exemption |
| Registered for public distribution | CH, DE, LI |
Gebührenstruktur
| Subscription and redemption fee | max. 5.00% / none |
|---|---|
| Management fee p.a. | 1.00% |
| Total expense ratio p.a. (per 31.12.2022; TER) | 1.41% |
| Duration | Fund |
|---|---|
| 1 month | 0.3% |
| 3 months | -2.0% |
| 12 months | 14.4% |
| 3 years p.a. | 6.6% |
| 5 years p.a. | 4.3% |
| since inception p.a. | 6.1% |
| Year | |
| 2023 | 12.2% |
| 2022 | -26.1% |
| 2021 | 21.7% |
| 2020 | 21.4% |
| 2019 | 27.7% |
| since inception | 64.4% |
Risk ratios (rolling over the last 3 years)
| Volatility (p.a.) | 19.1% |
|---|---|
| Sharpe ratio (-0.28% Risk free rate) | 0.39 |
| Beta (vs. SPI Small & Mid Cap TR Index) | 1.23 |
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.