FUND PERFORMANCE

DIGITAL STARS EUROPE

Inception date: 11/13/98

DIGITAL STARS EUROPE EX UK

Inception date: 06/30/06

DIGITAL STARS EUROPE SMALLER COMPANIES

Inception date: 12/16/16

DIGITAL STARS US EQUITIES

Inception date: 10/16/17

DIGITAL STARS EUROZONE

Inception date: 10/01/18
 

DIGITAL STARS EUROPE

Monthly update October 2020The climate suddenly darkened in October with the resurgence of the Coronavirus epidemic in Europe and the rise in terrorist pressure. That is all it took for the equity indices to drop following their nice upward run since mid-March. All the more so with the US election contributing to the general lack of visibility. Nevertheless, it seems that the situation from a strictly financial point of view has not changed significantly. The health crisis will come to an end, either through the introduction of a vaccine or a treatment; and the governments and central banks will continue their support measures for as long as it is necessary. The European market offers a risk premium of 7% based on estimated results for 2021. This is well above the 20-year historical average (5%), in a context where yields have disappeared in the bond class. The preservation of dividends, the acceleration of merger/acquisition operations or corporate share buyback programmes are all potential catalysts for stocks entering a period of favourable seasonality. The Digital funds ended October down, but again outperforming their benchmarks. The beginning of the month was very positive, driven by internet stocks. But the worsening health situation and the announcement of lockdowns caused the markets to plunge. In particular, technology stocks corrected sharply. The monthly performance of Digital Stars Europe Acc was -2.7%, compared with -5.0% for MSCI Europe NR. Our profit-taking and diversification tool, which was triggered on April 24th, was extended at the end of October, as the outperformance trend remained extremely strong. The portfolios were therefore adjusted by selling stocks that had contributed most to performance (internet distribution, online games, digital marketing) and by integrating or keeping "opposite" companies, allowing for better diversification and an ability to better manage sector rotation if it materializes. “Value" stocks now represent 20% of our funds. They include financial, industrial, telecom and energy stocks. The growth bias remains, since 80% of the assets are still the result of selection by our momentum model, but it is mitigated.

Read the monthly report in PDF format

OBJECTIVES

The objective of the sub-fund is to realise long-term capital gains and outperform the European markets as a whole by using a sophisticated quantitative model, conceived by Jacques Chahine, which makes it possible to identify "star" performers.

FUND PROFILE

An extremely diversified portfolio, invested in all market capitalisations in a purely quantitative style. Its investment universe comprises around 1,700 stocks from the European Union, United Kingdom, Switzerland and Norway, whose capitalisation exceeds 100 million euros. The sub-fund may invest up to 50% of its net assets in large cap stocks of the DJ Stoxx 50.

DIGITAL STARS EUROPE EX-UK

Monthly update October 2020
The climate suddenly darkened in October with the resurgence of the Coronavirus epidemic in Europe and the rise in terrorist pressure. That is all it took for the equity indices to drop following their nice upward run since mid-March. All the more so with the US election contributing to the general lack of visibility. Nevertheless, it seems that the situation from a strictly financial point of view has not changed significantly. The health crisis will come to an end, either through the introduction of a vaccine or a treatment; and the governments and central banks will continue their support measures for as long as it is necessary. The European market offers a risk premium of 7% based on estimated results for 2021. This is well above the 20-year historical average (5%), in a context where yields have disappeared in the bond class. The preservation of dividends, the acceleration of merger/acquisition operations or corporate share buyback programmes are all potential catalysts for stocks entering a period of favourable seasonality. The Digital funds ended October down, but again outperforming their benchmarks. The beginning of the month was very positive, driven by internet stocks. But the worsening health situation and the announcement of lockdowns caused the markets to plunge. In particular, technology stocks corrected sharply. Digital Stars Europe Ex-UK Acc ended October at -3.6% compared to -5.2% for MSCI Europe ex UK NR. Our profit-taking and diversification tool, which was triggered on April 24th, was extended at the end of October, as the outperformance trend remained extremely strong. The portfolios were therefore adjusted by selling stocks that had contributed most to performance (internet distribution, online games, digital marketing) and by integrating or keeping "opposite" companies, allowing for better diversification and an ability to better manage sector rotation if it materializes. “Value" stocks now represent 20% of our funds. They include financial, industrial, telecom and energy stocks. The growth bias remains, since 80% of the assets are still the result of selection by our momentum model, but it is mitigated.

Read the monthly report in PDF format

OBJECTIVES

The objective of the sub-fund is to realise long-term capital gains and outperform the European markets (excluding United-Kingdom) by using a sophisticated quantitative model, conceived by Jacques Chahine, which makes it possible to identify "star" performers.

FUND PROFILE

An extremely diversified portfolio, invested in all market capitalisations in a purely quantitative style. Its investment universe comprises around 1,300 stocks from the European Union, Switzerland and Norway but excluding the United Kingdom,, whose capitalisation exceeds 100 million euros. The sub-fund may invest up to 50% of its net assets in large cap stocks of the Euro Stoxx 50.

DIGITAL STARS EUROPE SMALLER COMPANIES

Monthly update October 2020The climate suddenly darkened in October with the resurgence of the Coronavirus epidemic in Europe and the rise in terrorist pressure. That is all it took for the equity indices to drop following their nice upward run since mid-March. All the more so with the US election contributing to the general lack of visibility. Nevertheless, it seems that the situation from a strictly financial point of view has not changed significantly. The health crisis will come to an end, either through the introduction of a vaccine or a treatment; and the governments and central banks will continue their support measures for as long as it is necessary. The European market offers a risk premium of 7% based on estimated results for 2021. This is well above the 20-year historical average (5%), in a context where yields have disappeared in the bond class. The preservation of dividends, the acceleration of merger/acquisition operations or corporate share buyback programmes are all potential catalysts for stocks entering a period of favourable seasonality. Small and mid caps also followed the decline: Digital Stars Europe Smaller Companies Acc fell by -4.7% in October, slightly behind the MSCI Europe Small Cap NR which finished at -4.4%. Technology stocks corrected significantly (Crayon Group), especially in IT services (SNP, Bechtle, Solutions30, GFT Technologies). Retailing stocks (Westwing, Boozt, BHG) helped the fund to resist in relative terms. The indicators of our profit-taking and diversification tool remained on, even after 6 months, so the process was extended as of the end of October. In this context we sold large contributors to performance and selected/kept stocks of "opposite" nature allowing for better diversification and improving the resilience of the portfolio in case of stylistic rotation.

Read the monthly report in PDF

OBJECTIVES

The objective of the sub-fund is to realise long-term capital gains and outperform the European Small Cap markets by using a sophisticated quantitative model, conceived by Jacques Chahine, which makes it possible to identify "star" performers.

FUND PROFILE

An extremely diversified portfolio, invested in small capitalisations in a purely quantitative style. Its investment universe comprises around 1,500 stocks from the European Union, United Kingdom, Switzerland and Norway, whose capitalisation exceeds 50 million eurosand is equal or less than the company having the greatest Market capitalization in the MSCI Europe Small Cap Index.

DIGITAL STARS US EQUITIES

Monthly update October 2020The climate suddenly darkened in October with the resurgence of the Coronavirus epidemic in Europe and the rise in terrorist pressure. That is all it took for the equity indices to drop following their nice upward run since mid-March. All the more so with the US election contributing to the general lack of visibility. Nevertheless, it seems that the situation from a strictly financial point of view has not changed significantly. The health crisis will come to an end, either through the introduction of a vaccine or a treatment; and the governments and central banks will continue their support measures for as long as it is necessary. The US market offers a risk premium of 3.6% based on estimated results for 2021. This is well above the 20-year historical average (3.1%), in a context where yields have disappeared in the bond asset class. The preservation of dividends, the acceleration of merger/acquisition operations or corporate share buyback programmes are all potential catalysts for stocks entering a period of favourable seasonality. Boosted by the surge of US small caps over the month (+2.1% for the Russell 2000 NR), Digital Stars US Equities Acc USD ended October up +0.8%, well ahead of the S&P 500 NR (-2.7%). Although technology was the worst sector of the month on the markets, it was the best contributor to the fund's performance, thanks to our selection, which benefited from remarkable publications (Cambium Networks, Calix).

Read the monthly report in PDF format

OBJECTIVES

The objective of the sub-fund is to realise long-term capital gains and outperform the US markets as a whole by using a sophisticated quantitative model, conceived by Jacques Chahine, which makes it possible to identify "star" performers.

FUND PROFILE

An extremely diversified portfolio, invested in all market capitalisations in a purely quantitative style. Its investment universe comprises around 2,700 stocks from the United States of America, whose capitalisation exceeds 100 million USD and followed by at least 3 financial analysts.

DIGITAL STARS EUROZONE

Monthly update October 2020The climate suddenly darkened in October with the resurgence of the Coronavirus epidemic in Europe and the rise in terrorist pressure. That is all it took for the equity indices to drop following their nice upward run since mid-March. All the more so with the US election contributing to the general lack of visibility. Nevertheless, it seems that the situation from a strictly financial point of view has not changed significantly. The health crisis will come to an end, either through the introduction of a vaccine or a treatment; and the governments and central banks will continue their support measures for as long as it is necessary. The European market offers a risk premium of 7% based on estimated results for 2021. This is well above the 20-year historical average (5%), in a context where yields have disappeared in the bond class. The preservation of dividends, the acceleration of merger/acquisition operations or corporate share buyback programmes are all potential catalysts for stocks entering a period of favourable seasonality. The Digital funds ended October down, but again outperforming their benchmarks. The beginning of the month was very positive, driven by internet stocks. But the worsening health situation and the announcement of lockdowns caused the markets to plunge. In particular, technology stocks corrected sharply. Digital Stars Eurozone Acc achieved -3.9% in Octobre compared to -5.6% for the MSCI EMU NR. Our profit-taking and diversification tool, which was triggered on April 24th, was extended at the end of October, as the outperformance trend remained extremely strong. The portfolios were therefore adjusted by selling stocks that had contributed most to performance (internet stocks) and by integrating or keeping "opposite" companies, allowing for better diversification and an ability to better manage sector rotation if it materializes. “Value" stocks now represent 20% of our funds. They include financial, industrial, telecom and energy stocks. The growth bias remains, since 80% of the assets are still the result of selection by our momentum model, but it is mitigated.

Read the monthly report in PDF format

OBJECTIVES

The objective of the sub-fund is to realise long-term capital gains and outperform the European markets (excluding United-Kingdom) by using a sophisticated quantitative model, conceived by Jacques Chahine, which makes it possible to identify "star" performers.

FUND PROFILE

An extremely diversified portfolio, invested in all market capitalisations in a purely quantitative style. Its investment universe comprises around 1,300 stocks from the European Union, Switzerland and Norway but excluding the United Kingdom,, whose capitalisation exceeds 100 million euros. The sub-fund may invest up to 50% of its net assets in large cap stocks of the Euro Stoxx 50.