Margarida Pinto | September 14, 2015 hrs.
With falling commodity prices clearly consumption is one of the sectors that emerges as , as recently reminded Fidelity Worldwide Investment , when the theme “that opportunities arise with the recent correction in the market? “. No wonder why technology companies gain a new breath to the current market context . Many other international organizations have come to reiterate its belief in the technology sector, such as the Amundi , who spoke recently about the ‘uberização the economy’ and expected increased activity on the part of advertisers that may enhance growth of the technology sector.
Technology and Health: the duo emphasized
In the domestic market APFIPP groups 6 funds in the category of “sectoral equity funds” . Given the commitment of Montepio Asset Management in this product segment , five of category funds are in charge, while the other element of the “group” belongs to Millennium Asset Management .
The funds sectoral shares present in the Portuguese market are clearly become a pool of funds that “shine” compared with others who invest in different universes of investment. Since the beginning of the year that the six listed products deliver an average return of 5.51% (APFIPP data September 4) with two to gain prominence lately.
The Montepio Euro Telcos , since the beginning of the year shows a return of 11.80%, and Montepio Euro Healthcare that the period can one rise of 10.13%, are the two funds that have been also highlighted in the weekly ranking of the APFIPP , with the 10 most profitable domestic mutual funds over the past 12 months . The Montepio Euro Telcos is even a month ago the clear leader in this analysis and selection made by the Association , which shows that the fund that invests in technology companies in the last twelve months, raises an annualized return of 14 5%.
analysis of the portfolios of products in focus
The two mentioned products sector invest in different investment universes, which inevitably sets up different features in their portfolios.
In the case of Montepio Euro Telcos – product has under management of EUR 7.5 million – according to data from site Morningstar, the portfolio has an great predominance of Communication Services , which account for almost 90% of the portfolio (see below the highest positions).
| Top 5 Holdings of Montepio Euro Telcos | Industry |
|---|---|
| Vodafone Group PLC | Communication services |
| Deutsche Telekom AG | Communication services |
| Orange SA | Communication services |
| BT Group PLC | Communication services |
| Telefonica SA | Communication services |
Source: Morningstar, late July
In the case of Montepio Healthcare, and not surprisingly, the health sector is what weighs more in the fund portfolio , coming to occupy almost 94% of portfolio . In the five largest holdings of the fund are well-known names in the pharmaceutical sector (see table below). The fund managed by Montepio Asset Management features 15 million in assets under management.
| Top 5 Holdings of Montepio Healthcare | Industry |
|---|---|
| Sanofi | Health |
| Novartis AG | Health |
| Roche Holding AG Dividend Right | Health |
| Bayer | Health |
| AstraZeneca | Health |
Source: Morningstar, late July
Performance of all of sectoral equity funds
| Fund sectoral actions | Manager | Profitability since the beginning of the year (%) | Profitability one year (%) |
|---|---|---|---|
| Montepio Euro Telcos | Montepio Asset Management | 11.80 | 14.46 |
| Montepio Euro Healthcare | Montepio Asset Management | 10.13 | 12.79 |
| Montepio Euro Financial Services | Montepio Asset Management | 7.81 | 5.09 |
| Montepio Euro Utilities | Montepio Asset Management | 5.90 | 2.92 |
| Euro Millennium Financial | Millennium Asset Management | 3.63 | 1.61 |
| Montepio Euro Energy | Montepio Asset Management | -6.22 | -16.85 |
Source: APFIPP, September 4
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