FUNDS PERFORMANCES

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 December 20202020 ends on a positive note. In December, the equity indices rose by 3.8% in the United States (S&P 500 NR) and by 2.4% in Europe (MSCI Europe NR). The sentiment that the health, political and economic fog has been dissipating since the beginning of November causes a sudden easing of the equity risk premium. The arrival of a vaccine gives hope that the epidemic will soon come to an end and, with the election of Joe Biden, that international relations will normalise. For its part, the ECB increased its Emergency Asset Purchase Programme (PEPP) by 500 billion euros at its December meeting, to lift it to 1,850 billion until March 2022. This considerable amount represents about 17% of the Eurozone's GDP. Finally, a post-Brexit deal was concluded, so the worst could be avoided in-extremis. In this context, equities remain highly attractive due to an interest rate environment that will remain in negative territory for years to come. Their main strength is yield. The risk premium of European equities is 5.9%, above the 20-year historical average of 5.0%. It takes into account a quasi-recovery in earnings that seems to be materialising. The 2021 earnings of the companies that compose the European market are expected to reach 87% of what they were before the crisis, and the Momentum for consensus revision has stabilised since last summer. Finally, the Market Momentum is favourable, with all major equity indices moving above their 200-day moving average. The Digital funds ended December with a sharp increase, outperforming their benchmarks, and closing an exceptional year in 2020, with performances exceeding +15% despite the health crisis. The best contributors of the year, with the exception of healthcare stocks, were also those of the month. We find stocks from internet distribution (HelloFresh), online gaming (Evolution Gaming, Kindred, G5 Entertainment), hydrogen (Ceres Power), alternative energies (Neoen), semiconductors (ASM International) or gardening (Husqvarna), in short the big winners of the health crisis. The relative drawdown in November is recovered. After a complicated year, our UK stocks benefited from the Brexit agreement. Digital Stars Europe Acc's monthly performance was +5.8%, compared to +2.7% for MSCI Europe NR. The 2020 performance is +15.6% compared to -3%.

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Objectives

The objective of the compartment 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 “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 December 2020
2020 ends on a positive note. In December, the equity indices rose by 3.8% in the United States (S&P 500 NR) and by 2.4% in Europe (MSCI Europe NR). The sentiment that the health, political and economic fog has been dissipating since the beginning of November causes a sudden easing of the equity risk premium. The arrival of a vaccine gives hope that the epidemic will soon come to an end and, with the election of Joe Biden, that international relations will normalise. For its part, the ECB increased its Emergency Asset Purchase Programme (PEPP) by 500 billion euros at its December meeting, to lift it to 1,850 billion until March 2022. This considerable amount represents about 17% of the Eurozone's GDP. Finally, a post-Brexit deal was concluded, so the worst could be avoided in-extremis. In this context, equities remain highly attractive due to an interest rate environment that will remain in negative territory for years to come. Their main strength is yield. The risk premium of European equities is 5.9%, above the 20-year historical average of 5.0%. It takes into account a quasi-recovery in earnings that seems to be materialising. The 2021 earnings of the companies that compose the European market are expected to reach 87% of what they were before the crisis, and the Momentum for consensus revision has stabilised since last summer. Finally, the Market Momentum is favourable, with all major equity indices moving above their 200-day moving average. The Digital funds ended December with a sharp increase, outperforming their benchmarks, and closing an exceptional year in 2020, with performances exceeding +15% despite the health crisis. The best contributors of the year, with the exception of healthcare stocks, were also those of the month. We find stocks from internet distribution (HelloFresh), online gaming (Evolution Gaming, Kindred, G5 Entertainment), alternative energies (Neoen, Verbio), semiconductors (ASM International) or gardening (Husqvarna), in short the big winners of the health crisis. The relative drawdown in November is recovered. Digital Stars Europe Ex-UK Acc ended December at +5.1% against +2.4% for the MSCI Europe ex UK NR (+20.2% in 2020 against +2%).

Read the monthly report in PDF format

Objectives

The objective of the compartment 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 cap stocks belonging to the Euro Stoxx 50.

DIGITAL STARS EUROPE SMALLER COMPANIES

Monthly update December 20202020 ends on a positive note. In December, the equity indices rose by 3.8% in the United States (S&P 500 NR) and by 2.4% in Europe (MSCI Europe NR). The sentiment that the health, political and economic fog has been dissipating since the beginning of November causes a sudden easing of the equity risk premium. The arrival of a vaccine gives hope that the epidemic will soon come to an end and, with the election of Joe Biden, that international relations will normalise. For its part, the ECB increased its Emergency Asset Purchase Programme (PEPP) by 500 billion euros at its December meeting, to lift it to 1,850 billion until March 2022. This considerable amount represents about 17% of the Eurozone's GDP. Finally, a post-Brexit deal was concluded, so the worst could be avoided in-extremis. In this context, equities remain highly attractive due to an interest rate environment that will remain in negative territory for years to come. Their main strength is yield. The risk premium of European equities is 5.9%, above the 20-year historical average of 5.0%. It takes into account a quasi-recovery in earnings that seems to be materialising. The 2021 earnings of the companies that compose the European market are expected to reach 87% of what they were before the crisis, and the Momentum for consensus revision has stabilised since last summer. Finally, the Market Momentum is favourable, with all major equity indices moving above their 200-day moving average. Another month of progression for small and mid caps: Digital Stars Europe Smaller Companies Acc rose 7.8% in December, beating the MSCI Europe Small Cap NR which finished at 6.0%. The year 2020 ended on a high note for the fund with a performance of 27.3%, compared with 4.6% for the index. Over the month, it is the cross-disciplinary theme of renewable energies that stood out (Alfen, VERBIO, Encavis, Falck Renewables, Eolus Vind, Neoen), as well as entertainment (Focus Home Interactive) and banks (Bank of Ireland, Avanza Bank).

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Objective

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 “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 Small Cap index.

DIGITAL STARS US EQUITIES

Monthly update December 20202020 ends on a positive note. In December, the equity market rose by 3.8% in the United States (S&P 500 NR). The sentiment that the health, political and economic fog has been dissipating since the beginning of November causes a sudden easing of the equity risk premium. The arrival of a vaccine gives hope that the epidemic will soon come to an end and, with the election of Joe Biden, that international relations will normalise. In this context, equities remain highly attractive due to an environment of persistently low interest rates. Their main strength is yield. The risk premium of US equities stands at 3.5%, above the 20-year historical average of 3.0%. It takes into account a full earnings recovery that seems to be materialising. The 2021 earnings of the companies that make up the US market are indeed expected to exceed their pre-crisis levels, and the Earnings Momentum from consensus has been on the rise since last summer. Finally, the Market Momentum is favourable, with all major equity indices moving above their 200-day moving average. Digital Stars US Equities Acc USD finished up again this month, posting a 6% return, beating the S&P 500 NR (3.8%), but behind the Russell 2000 NR (8.6%). The fund ended the year well, with a 23.8% increase, compared to 17.8% and 19.5% respectively for the S&P 500 NR and the Russell 2000 NR. The two sectors that contributed the most in December are finance (Silvergate Capital, Live Oak Bancshares, Mr Cooper) and IT (Digital Turbine, SiTime, Calix, Cadence Design Systems). Food and food retailing contributed negatively (National Beverage, BJ's Wholesale Club, Conagra, B&G Foods).

Read the monthly report in PDF format

Objectives

The sub-fund's objective 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.

Fund profile

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 December 20202020 ends on a positive note. In December, the equity indices rose by 3.8% in the United States (S&P 500 NR) and by 2.4% in Europe (MSCI Europe NR). The sentiment that the health, political and economic fog has been dissipating since the beginning of November causes a sudden easing of the equity risk premium. The arrival of a vaccine gives hope that the epidemic will soon come to an end and, with the election of Joe Biden, that international relations will normalise. For its part, the ECB increased its Emergency Asset Purchase Programme (PEPP) by 500 billion euros at its December meeting, to lift it to 1,850 billion until March 2022. This considerable amount represents about 17% of the Eurozone's GDP. Finally, a post-Brexit deal was concluded, so the worst could be avoided in-extremis. In this context, equities remain highly attractive due to an interest rate environment that will remain in negative territory for years to come. Their main strength is yield. The risk premium of European equities is 5.9%, above the 20-year historical average of 5.0%. It takes into account a quasi-recovery in earnings that seems to be materialising. The 2021 earnings of the companies that compose the European market are expected to reach 87% of what they were before the crisis, and the Momentum for consensus revision has stabilised since last summer. Finally, the Market Momentum is favourable, with all major equity indices moving above their 200-day moving average. The Digital funds ended December with a sharp increase, outperforming their benchmarks, and closing an exceptional year in 2020, with performances exceeding +15% despite the health crisis. The best contributors of the year, with the exception of healthcare stocks, were also those of the month. We find stocks from internet distribution (HelloFresh), alternative energies (Alfen NV), semiconductors (ASM International), in short the big winners of the health crisis. The relative drawdown in November is recovered. Digital Stars Eurozone Acc achieved +3.9% compared to +2.5% for the MSCI EMU NR (+18.3% in 2020 compared to -0.5%).

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 "star" 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.