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 June 2020The V-shaped recovery in the equity markets continued in June. Since the March lows, the Stoxx Europe 600 has risen by 28.6% and the S&P 500 by 38.6%. In the United States, the second quarter was the best quarter in 22 years, and the Nasdaq, led by technology stocks, has just reached new highs. However, the Coronavirus health crisis continues to develop throughout the world and the economic recovery will not be "V-shaped" but rather "Square Root-shaped". The reasons for the increase are therefore not macroeconomic but rather monetary and budgetary. It is the combined action of central banks and governments that has triggered this movement. The unprecedented and extraordinary global fiscal stimulus of more than 5,000 billion dollars, or nearly 6% of world GDP, is made possible by the good financing conditions provided by central banks. We are therefore witnessing a new phase of reflation in real assets, which could bring the indices even higher, provided that the current "Recovery" is not jeopardized by the health crisis and geopolitical tensions. The Digital funds accompanied this rise and finished June in line with their benchmark indices. Our "Covid Stars" (HelloFresh, Zur Rose, Shop Apotheke, Stillfront), once again led the performance, with the exception of pharmaceuticals. Cyclical stocks (Financials, Consumer Discretionary, Industrials) continued their recovery. Conversely, defensive stocks (Healthcare, Food, Real Estate) had a negative contribution. Value stocks, which have been introduced for 12.5% of assets at the end of April thanks to our smoothing tool, mitigated the relative impact of the cyclical rebound observed beginning of June. The monthly performance of Digital Stars Europe Acc was +3.1%, compared with +3.1% for the MSCI Europe NR.

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 June 2020
The V-shaped recovery in the equity markets continued in June. Since the March lows, the Stoxx Europe 600 has risen by 28.6% and the S&P 500 by 38.6%. In the United States, the second quarter was the best quarter in 22 years, and the Nasdaq, led by technology stocks, has just reached new highs. However, the Coronavirus health crisis continues to develop throughout the world and the economic recovery will not be "V-shaped" but rather "Square Root-shaped". The reasons for the increase are therefore not macroeconomic but rather monetary and budgetary. It is the combined action of central banks and governments that has triggered this movement. The unprecedented and extraordinary global fiscal stimulus of more than 5,000 billion dollars, or nearly 6% of world GDP, is made possible by the good financing conditions provided by central banks. We are therefore witnessing a new phase of reflation in real assets, which could bring the indices even higher, provided that the current "Recovery" is not jeopardized by the health crisis and geopolitical tensions. The Digital funds accompanied this rise and finished June in line with their benchmark indices. Our "Covid Stars" (HelloFresh, Zur Rose, Shop Apotheke, Stillfront), once again led the performance, with the exception of pharmaceuticals. Cyclical stocks (Financials, Consumer Discretionary, Industrials) continued their recovery. Conversely, defensive stocks (Healthcare, Food, Real Estate) had a negative contribution. Value stocks, which have been introduced for 12.5% of assets at the end of April thanks to our smoothing tool, mitigated the relative impact of the cyclical rebound observed beginning of June. The monthly performance of Digital Stars Europe Ex-UK Acc was +4%, compared with +3.9% for the MSCI Europe ex UK NR.

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 June 2020The V-shaped recovery in the equity markets continued in June. Since the March lows, the STOXX Europe 600 has risen by 28.6% and the S&P 500 by 38.6%. In the United States, the second quarter was the best quarter in 22 years, and the Nasdaq, led by technology stocks, has just reached new highs. However, the Coronavirus health crisis continues to develop throughout the world and the economic recovery will not be "V-shaped" but rather "Square Root-shaped". The reasons for the increase are therefore not macroeconomic but rather monetary and budgetary. It is the combined action of central banks and governments that has triggered this movement. The unprecedented and extraordinary global fiscal stimulus of more than 5,000 billion dollars, or nearly 6% of world GDP, is made possible by the good financing conditions provided by central banks. We are therefore witnessing a new phase of reflation in real assets, which could bring the indices even higher, provided that the current "Recovery" is not jeopardized by the health crisis and geopolitical tensions. In June, Digital Stars Europe Smaller Companies Acc continued its upward momentum and grew by +4%, largely outperforming the MSCI Europe Small Cap NR which ended at +1.3%. The fund's sector positioning played in its favour with the overweight position in IT (best sector of the month) and the underweight position in Health Care (worst sector of the month). The best individual contributors of the month are still the "Covid Stars" (ASM International, Zur Rose, Sinch, HelloFresh, Premier Food, Stillfront), who are also the best contributors year-to-date.

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 June 2020The V-shaped recovery in the equity markets continued in June. Since the March lows, the S&P 500 has risen by 38.6% and the Russell 2000 by more than 44%. In the United States, the second quarter was the best quarter in 22 years, and the Nasdaq, led by technology stocks, has just reached new highs. However, the Coronavirus health crisis continues to develop throughout the world and the economic recovery will not be "V-shaped" but rather "Square Root-shaped". The reasons for the increase are therefore not macroeconomic but rather monetary and budgetary. It is the combined action of central banks and governments that has triggered this movement. The unprecedented and extraordinary global fiscal stimulus of more than 5,000 billion dollars, or nearly 6% of world GDP, is made possible by the good financing conditions provided by central banks. We are therefore witnessing a new phase of reflation in real assets, which could bring the indices even higher, provided that the current "Recovery" is not jeopardized by the health crisis and geopolitical tensions. Digital Stars US Equities Acc USD posted a +5.2% increase in June, once again clearly outperforming the S&P 500 NR (+1.9%) and the Russell 2000 NR (+3.5%). The fund's profile was well oriented: the overweight position in consumer discretionary and IT, the two best sectors of the month, drove the fund's return. Three sectors stand out among the best individual contributors: IT (Digital Turbine, Teradyne, Amkor, Repay), consumer discretionary (Nautilus, Lumber Liquidators, Purple Innovation, MarineMax) and finance (BrightSphere Investment Grp, PennyMac Financial Services, Affiliated Managers Grp).  

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 June 2020The V-shaped recovery in the equity markets continued in June. Since the March lows, the Stoxx Europe 600 has risen by 28.6% and the S&P 500 by 38.6%. In the United States, the second quarter was the best quarter in 22 years, and the Nasdaq, led by technology stocks, has just reached new highs. However, the Coronavirus health crisis continues to develop throughout the world and the economic recovery will not be "V-shaped" but rather "Square Root-shaped". The reasons for the increase are therefore not macroeconomic but rather monetary and budgetary. It is the combined action of central banks and governments that has triggered this movement. The unprecedented and extraordinary global fiscal stimulus of more than 5,000 billion dollars, or nearly 6% of world GDP, is made possible by the good financing conditions provided by central banks. We are therefore witnessing a new phase of reflation in real assets, which could bring the indices even higher, provided that the current "Recovery" is not jeopardized by the health crisis and geopolitical tensions. The Digital funds accompanied this rise and finished June in line with their benchmark indices. Our "Covid Stars" (HelloFresh, Shop Apotheke), once again led the performance, with the exception of pharmaceuticals. Cyclical stocks (Financials, Consumer Discretionary, Industrials) continued their recovery. Conversely, defensive stocks (Healthcare, Food, Real Estate) had a negative contribution. Value stocks, which have been introduced for 12.5% of assets at the end of April thanks to our smoothing tool, mitigated the relative impact of the cyclical rebound observed beginning of June. The monthly performance of Digital Stars Eurozone Acc was +4.2%, compared with +4.9% for the MSCI EMU NR.

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.