ALPORA Innovation Europe

Performance YTD 8.9% (as of 02.02.2023)
Fund size EUR 243.2m

The equity fund invests in Western European listed companies with above-average innovation efficiency. The fund invests across all sectors, with the exception of "utilities" and "financials". The investment process consists of a two-step procedure. In a first step, the innovation efficiency of the companies in the investment universe is measured and compared using a scientifically based quantitative method. In a further step, the portfolio is constructed by selecting around 30 stocks on the basis of our own proprietary fundamental analysis.

Facts & Figures Current monthly report (PDF)

Portfolio Management

Patrick Hofer

Patrick Hofer

Portfolio Management
Client Relationship Management
hofer[at]amgfonds.ch
+41 (41) 726 71 76
Christian Bader

Christian Bader

Portfolio Management
Research
bader[at]amgfonds.ch
+41 (41) 726 71 70

Sustainability / ESG

Awards

ALPORA Innovation Europe
Full-Year Report 2022

Patrick Hofer looks back on the past year and gives a brief outlook for 2023.

(English subtitle available. Please enable it on your device before watching the video.)

Facts & Figures
Portfolio allocations

Breakdown by sectors

Breakdown by currencies

Breakdown by countries

Top 5
Monthly comment

Comment January 2023

The fund performed very well in January 2023, similar to the benchmark MSCI Europe ETF.
German electrical engineering company Aixtron SE produces deposition equipment for the manufacture of compound semiconductors and other multi-component materials. Its product portfolio consists of high-performance components for electronic and optoelectronic applications. These elements are used in display, signalling and lighting technology, in fibre optics and communication networks, as well as in other high-tech applications. In deposition equipment, the innovation focus is on the development of radical material innovations. Incremental process innovations are used to produce complex materials that are used in new applications. Aixtron is a world leader in MOCVD (Metal-Organic Chemical Vapour Deposition) technology, which enables ultra-thin films to be deposited on a semiconductor wafer. MOCVD is considered the most important manufacturing process for compound semiconductors based on gallium nitride. Power devices (III-V semiconductors) made of gallium nitride consume considerably less energy compared to conventional silicon-based power chips with the same or higher performance.

Sustainability

ESG implementation:

We take ESG aspects into account in the financial analysis and investment decision-making process, applying a combination of exclusion criteria and ESG integration approach in the investment process. The abbreviation ESG stands for "Environmental - Social - Governance".

For the analysis within the sustainability approach, we rely on data from selected third-party providers and, if necessary, on our own analyses. The analysts and portfolio management teams are responsible for both the financial analysis and the ESG analysis. In this way, we ensure that the assessment and implementation are carried out on a recurring basis by the decision-makers in the respective fund as part of a comprehensive and integrated investment process.

In our investment process, we do not per se exclude investments in companies with weaker ESG ratings: Companies that address the issue of sustainability convincingly and consistently can be interesting portfolio companies.

Latest ESG reporting:

  • Classification with regard to U.N. Global Compact Ten Principles:
    All portfolio companies in the fund comply with the U.N. Global Compact Ten Principles.
  • Current portfolio structure using the ESG Risk Rating (by Sustainalytics):

The above fund is a financial product within the meaning of Article 8 of Regulation (EU) 2019/2088 (Disclosure Regulation).

Brief profile
Domicile of fund CH
Legal form Contractual investment fund
Investment universe Europe
Investment manager AMG Fondsverwaltung AG, Zug
Management company LLB Swiss Investment Ltd, Zurich
Custodian bank Bank J. Safra Sarasin Ltd, Basel
Launch date 01.10.2014
Recommended investment horizon 5 years
Reference currency EUR
ISIN / Bloomberg-Ticker (respective Tranche) EUR A: CH0248877885 / ALPIEUR SW
EUR B: CH0436491234 / ALPIEUB SW
CHF-hedged: CH0302271066 / ALPICHF SW
Distributions accumulating
Subscription and redemption daily (cut-off 09.00 CET)
Tax transparency CH, AT
Tax status Germany Equity fund pursuant to InvStG with
partial exemption
UK Tax Reporting Status Tranche EUR A
Registered for public distribution CH, D; SGP (acccr. investors only)

Gebührenstruktur

Subscription and redemption fee none
Management fee p.a. Tranche EUR A: 1.00%
Tranche EUR B: 1.50%
Tranche CHF-hedged: 1.00%
MiFID fee for third party research p.a. 0.04%
Total expense ratio p.a. (per 31.12.2021; TER) Tranche EUR A: 1.22%
Tranche EUR B: 1.71%
Tranche CHF-hedged: 1.22%
Performance overview and key figures
Duration Fund MSCI Europe ETF
1 month 3.0% 1.0%
3 months 1.9% 4.2%
12 months -3.4% 4.2%
3 years p.a. 13.4% 9.9%
5 years p.a. 10.1% 6.7%
since inception p.a. 13.2% 6.2%
Year
2023 8.9% 7.4%
2022 -23.3% -9.1%
2021 31.4% 24.9%
2020 20.0% -3.2%
2019 42.7% 27.8%
since inception 181.0% 65.7%

Risk ratios (rolling over the last 3 years)

Volatility (p.a.) 24.6%
Sharpe ratio (-0.29% Risk free rate) 0.42
Beta (vs. MSCI Europe ETF) 0.98

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