Sweden's CB Fonder (CB Asset Management) has launched an institutional share class for its long only European Quality Fund.
Sweden’s CB Fonder (CB Asset Management) has launched an institutional share class for its long only European Quality Fund.
The fund invests in a concentrated portfolio of equities from countries such as Germany, Netherlands, Switzerland, France, Sweden, Denmark and the UK.
There is an ethical overlay which prohibits investments in companies active in tobacco, alcohol, weapons, gambling and pornography.
The fund claims a first decile performance against peers in the Swedish Morningstar Europe Large-Cap Blend Equity sector – over one, three, five and 10 years.
Return over three years is 44% in euro terms, against a 20% average for its sector. The fund’s benchmark MSCI Europe Net index made return of 24% over the period, however CB said the fund benefits from lower volatility – it was 12% compared to 14% for the benchmark over the period.
CB said it will offer the instutional shares against a minimum €1m investment, with the following fee characteristics:
• Subscription / redemption fee: 0%
• Management fee: 0.5% p.a.
• Performance fee: 20% performance fee on outperformance of MSCI Europe Net, with eternal collective HWM
• Liquidity: Daily subscriptions and redemptions
Further information is available here: www.cbfonder.se