PERFORMANCE DES FONDS

DIGITAL STARS EUROPE

Inception date : 13/11/98

DIGITAL STARS EUROPE EX UK

Inception date : 30/06/06

DIGITAL STARS EUROPE SMALLER COMPANIES

Inception date : 16/12/16

DIGITAL STARS US EQUITIES

Inception date : 16/10/17

DIGITAL STARS EUROZONE

Inception date : 01/10/18
 

DIGITAL STARS EUROPE

Monthly update September 2021Equity indices were down in September (MSCI Europe NR -3.0%, S&P 500 NR -4.7%), which is the first negative monthly return since January 2021. Investors adopted a cautious stance in an environment where the strength of the economic recovery is being debated. Systemic fears related to the situation in China and the setbacks of the real estate developer Evergrande also weighed. As well as the Fed's less accommodative tone, which is considering a reduction in asset purchases at the end of the year in response to inflation taking hold. At the same time, a powerful rotation in the behaviour of styles was observed. Value has strongly outperformed, which is unusual in a down market, while defensive stocks have been penalized in relative terms by the rise in long-term rates. The attractiveness of the equity asset class remains intact. The risk premium of the European market is still at a generous level (6.4%), and the outlook for earnings growth remains attractive. After ten consecutive months of gains and significant outperformance, Digital funds ended the month down, underperforming their benchmarks. While the jolt from the risk of collapse of Chinese property giant Evergrande was quickly overcome, fears about inflation and rising long-term interest rates had a greater impact from 24 September onwards. We then saw violent profit-taking on growth stocks (Digital Economy, Semiconductors, Medtech) and more generally on the winners of the year 2021. Small and mid-caps also weighed negatively. Conversely, value stocks, particularly Energy and Financials, resisted well, but were less present in the portfolio. Our track record shows that while the impact of such rotation is negative in the short term, it allows then to capitalize on new trends in the longer term. The monthly performance of Digital Stars Europe Acc was -4.9%, compared to -3% for the MSCI Europe NR.

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Objectives

The objective of the sub-fund is to generate long-term capital appreciation and outperform the European markets as a whole by using a sophisticated quantitative model, designed by Jacques Chahine, which makes it possible to identify the “star” performers.

Fund profile

An extremely well diversified portfolio, invested across all market capitalizations in a purely quantitative style. Its investment universe includes around 1,700 stocks from the European Union, the United Kingdom, Switzerland and Norway with capitalizations exceeding 100 million euros. The sub-fund may invest up to 50% of its net assets in large cap stocks belonging to the Stoxx 50.

DIGITAL STARS EUROPE EX-UK

Monthly update September 2021
Equity indices were down in September (MSCI Europe NR -3.0%, S&P 500 NR -4.7%), which is the first negative monthly return since January 2021. Investors adopted a cautious stance in an environment where the strength of the economic recovery is being debated. Systemic fears related to the situation in China and the setbacks of the real estate developer Evergrande also weighed. As well as the Fed's less accommodative tone, which is considering a reduction in asset purchases at the end of the year in response to inflation taking hold. At the same time, a powerful rotation in the behaviour of styles was observed. Value has strongly outperformed, which is unusual in a down market, while defensive stocks have been penalized in relative terms by the rise in long-term rates. The attractiveness of the equity asset class remains intact. The risk premium of the European market is still at a generous level (6.4%), and the outlook for earnings growth remains attractive. After ten consecutive months of gains and significant outperformance, Digital funds ended the month down, underperforming their benchmarks. While the jolt from the risk of collapse of Chinese property giant Evergrande was quickly overcome, fears about inflation and rising long-term interest rates had a greater impact from 24 September onwards. We then saw violent profit-taking on growth stocks (Digital Economy, Semiconductors, Medtech) and more generally on the winners of the year 2021. Small and mid-caps also weighed negatively. Conversely, value stocks, particularly Energy and Financials, resisted well, but were less present in the portfolio. Our track record shows that while the impact of such rotation is negative in the short term, it allows then to capitalize on new trends in the longer term. Digital Stars Europe Ex-UK Acc ended September at -4.6% compared to -3.8% for the MSCI Europe ex UK NR.

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Objectifs

The objective of the sub-fund is to generate long-term capital appreciation and outperform the European markets (excluding the United Kingdom) as a whole by using a sophisticated quantitative model, designed by Jacques Chahine, which makes it possible to identify the “star” performers.

Fund profile

An extremely well diversified portfolio, invested across all market capitalizations in a purely quantitative style. Its investment universe includes around 1,300 stocks from the European Union (excluding the United Kingdom), Switzerland and Norway, with capitalization exceeding 100 million euros. The sub-fund may invest up to 50% of its net assets in large capitalization securities belonging to the Euro Stoxx 50.

DIGITAL STARS EUROPE SMALLER COMPANIES

Monthly update September 2021Equity indices were down in September (MSCI Europe NR -3.0%, S&P 500 NR -4.7%), which is the first negative monthly return since January 2021. Investors adopted a cautious stance in an environment where the strength of the economic recovery is being debated. Systemic fears related to the situation in China and the setbacks of the real estate developer Evergrande also weighed. As well as the Fed's less accommodative tone, which is considering a reduction in asset purchases at the end of the year in response to inflation taking hold. At the same time, a powerful rotation in the behaviour of styles was observed. Value has strongly outperformed, which is unusual in a down market, while defensive stocks have been penalized in relative terms by the rise in long-term rates. The attractiveness of the equity asset class remains intact. The risk premium of the European market is still at a generous level (6.4%), and the outlook for earnings growth remains attractive. Digital Stars Europe Smaller Companies Acc ended September down -6.3%, behind the MSCI Europe Small Cap NR at -4.4%. Profit taking triggered by inflation concerns and rising interest rates impacted the fund, mainly in industrials, consumer cyclicals and technology. In absolute terms, two sectors contributed positively: chemicals (IBU-tec) and energy (VERBIO). The fund's year-to-date return is +22.8%.

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Objectives

The objective of the sub-fund is to generate long-term capital appreciation and outperform the European small-cap markets by using a sophisticated quantitative model, designed by Jacques Chahine, which makes it possible to identify the “star” performers.

Fund Profile

An extremely well diversified portfolio, invested in small and mid caps in a purely quantitative style. Its investment universe includes around 1,500 stocks from the European Union, the United Kingdom, Switzerland and Norway, whose capitalization exceeds 50 million euros and does not exceed the largest capitalization of the MSCI Europe index. Small Cap.

DIGITAL STARS US EQUITIES

Monthly update September 2021US equity markets were down in September (S&P 500 NR -4.7%), which is the first negative monthly return since January 2021. Investors adopted a cautious stance in an environment where the strength of the economic recovery is being debated. Systemic fears related to the situation in China and the setbacks of the real estate developer Evergrande also weighed. As well as the Fed's less accommodative tone, which is considering a reduction in asset purchases at the end of the year in response to inflation taking hold. At the same time, a powerful rotation in the behaviour of styles was observed. Value has strongly outperformed, which is unusual in a down market, while defensive stocks have been penalized in relative terms by the rise in long-term rates. The attractiveness of the equity asset class remains intact. The risk premium of the US market remains close to its historical average, and the outlook for earnings growth remains attractive. Digital Stars US Equities Acc USD ended down -3.5% this month, ahead of the S&P 500 NR (-4.7%), but just behind the Russell 2000 NR at -3.0%. The fund's resistance to profit taking in the US market came mainly from industrials (Herc, CRA), technology (Digital Turbine) and financials (Upstart, Western Alliance Bancorp). The good performance of energy did not benefit the fund, which was absent from the sector. The fund's year-to-date return is +27.9%.

Read the monthly report in PDF format

Objectifs

The objective of the sub-fund is to generate long-term capital appreciation and outperform the American markets as a whole by using a sophisticated quantitative model, designed by Jacques Chahine, which makes it possible to identify “star” performers.

Profil du fonds

323 / 5000 Résultats de traduction An extremely well diversified portfolio, invested across all market capitalizations in a purely quantitative style. Its investment universe includes approximately 2,700 stocks from the US market, with a capitalization exceeding $ 100 million, and monitored by a minimum of 3 financial analysts.

DIGITAL STARS EUROZONE

Monthly update September 2021Equity indices were down in September (MSCI Europe NR -3.0%, S&P 500 NR -4.7%), which is the first negative monthly return since January 2021. Investors adopted a cautious stance in an environment where the strength of the economic recovery is being debated. Systemic fears related to the situation in China and the setbacks of the real estate developer Evergrande also weighed. As well as the Fed's less accommodative tone, which is considering a reduction in asset purchases at the end of the year in response to inflation taking hold. At the same time, a powerful rotation in the behaviour of styles was observed. Value has strongly outperformed, which is unusual in a down market, while defensive stocks have been penalized in relative terms by the rise in long-term rates. The attractiveness of the equity asset class remains intact. The risk premium of the European market is still at a generous level (6.4%), and the outlook for earnings growth remains attractive. After ten consecutive months of gains and significant outperformance, Digital Stars Eurozone ended the month down, underperforming its benchmarks. While the jolt from the risk of collapse of Chinese property giant Evergrande was quickly overcome, fears about inflation and rising long-term interest rates had a greater impact from 24 September onwards. We then saw violent profit-taking on growth stocks (Digital Economy, Semiconductors, Medtech) and more generally on the winners of the year 2021. Small and mid-caps also weighed negatively. Conversely, value stocks, particularly Energy and Financials, resisted well, but were less present in the portfolio. Our track record shows that while the impact of such rotation is negative in the short term, it allows then to capitalize on new trends in the longer term. Digital Stars Eurozone Acc ended September at -5.8% compared to -3.4% for the MSCI EMU NR.

Read the monthly report in PDF format

Objectives

The objective of the sub-fund is to generate long-term capital appreciation and outperform the Eurozone markets as a whole by using a sophisticated quantitative model, designed by Jacques Chahine, which makes it possible to identify the top "stars" performers.

Fund profile

An extremely well diversified portfolio, invested across all market capitalizations in a purely quantitative style. Its investment universe includes Eurozone market stocks, whose capitalization exceeds $ 100 million, and monitored by a minimum of 3 financial analysts.