AMG Schweizer Perlen
Fund size CHF 20.6m
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
Invest in growth-oriented Swiss companies. We are your pearl divers!
Publications
TWO PAGER | AMG SCHWEIZER PERLEN
Breakdown by sectors
Comment March 2024
In the month under review, the focus was on the presentation of the company's results. Aryzta AG impressed with outstanding results that underline the positive business development. Ascom Holding AG, on the other hand, provided a cautious outlook for 2024, while Bachem Holding AG confirmed fears regarding the delay in the completion of the "K" production building. Belimo Holding AG impressed with a solid sales forecast for 2024 and a successful start to the current financial year. Chocoladenfabriken Lindt & Sprüngli AG achieved an improved margin despite higher input costs, although higher cocoa prices and the resulting chocolate price increases entail the risk of a weakening of sales volumes. Comet Holding AG has successfully integrated its RF generator platform Synertia into the systems of a Tier 1 customer. Huber+Suhner AG is confident that it has overcome the cyclical low point, with destocking expected to be completed by the end of summer 2024. Inficon Holding AG gives a positive outlook for 2024, while Interroll Holding AG is seeing the first positive signs of stabilization with follow-up purchases and short delivery times. Kardex Holding AG is optimistic about the preparation of numerous major projects, which, together with the easing of supply chain problems and economies of scale, will lead to a return to profitability. Komax Holding AG is strengthening its long-term strategy in China with the acquisition of a majority stake in a Chinese machine manufacturer for processing high-voltage cables for electric cars. Medacta Group SA met the high market expectations with its results for 2023 and the outlook for 2024. Medartis AG also posted impressive results and is continuing its growth trajectory. Sensirion AG is optimistic about 2024 after a difficult year in 2023, driven by new products. SFS Group AG refrained from issuing a forecast for 2024 due to market fluctuations and potential portfolio adjustments in the automotive sector. StarragTornos Group AG impressed with strong results in 2023 and an optimistic outlook. Tecan Group AG exceeded expectations in terms of profitability last year but gave an outlook for 2024 that was below the market consensus. VAT Group AG was very cautious about its prospects.
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 |
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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 |
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Management fee p.a. | 1.00% |
Total expense ratio p.a. (per 30.06.2023; TER) | 1.33% |
Duration | Fund |
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1 month | 5.8% |
3 months | 3.0% |
12 months | -2.4% |
3 years p.a. | -2.7% |
5 years p.a. | 7.7% |
since inception p.a. | 5.5% |
Year | |
2024 | 3.0% |
2023 | 8.5% |
2022 | -26.1% |
2021 | 21.7% |
2020 | 21.4% |
since inception | 63.7% |
Risk ratios (rolling over the last 3 years)
Volatility (p.a.) | 19.6% |
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Sharpe ratio (0.38% Risk free rate) | n/a |
Beta (vs. SPI Small & Mid Cap TR Index) | 1.30 |
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.