Candriam Equities L Oncology Impact
Fund details
“Sustainable Finance Disclosure Regulation” : Regulation 2019/2088 on sustainability-related disclosures in the financial services sector
Morningstar is an independent provider of investment analysis. The Morningstar rating is a quantitative assessment of the past performance of a fund taking into account the risk and the costs charged. It does not take into account qualitative elements and is calculated on the basis of a (mathematical) formula. The funds are ranked by category and compared to similar funds, based on their score and receive one to five stars. In each category, the top 10% receive 5 stars, the next 22.5% 4 stars, the following 35% 3 stars, the next 22.5% 2 stars, and the last 10% receive 1 star. The rating is calculated monthly based on historical performance over 3, 5 and 10 years and does not take into account the future. )
Morningstar launched the Morningstar Sustainability Rating (MSR) to help investors consider Environmental, Social and Corporate Governance (ESG) criteria when assessing their investments. Morningstar Sustainability globes are calculated using bottom-up assessments of the underlying securities of a portfolio, supported by the Sustainalytics methodology for assessing the ESG risk of companies and sovereigns. The Morningstar Sustainability Rating has several steps to accurately represent the relative risk within each portfolio. The result of the rating is a category of 1 to 5 “globes” for each eligible portfolio, indicating the fund’s ESG positioning relative to its peer group.
Marketing Communication. Please refer to the prospectus of the fund and to the key investor information document before making any investment decision. The documents can be obtained free of charge.
Risks
Definition
The risk and reward profile is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KIID.
The risk category is calculated on the basis of historical performance and is not necessarily a reliable indicator of the fund’s future risk profile.
It may change in the future and is not guaranteed.
The lowest category does not mean no risk.;
The risk and reward profile is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KIID.<br>The risk category is calculated on the basis of historical performance and is not necessarily a reliable indicator of the fund’s future risk profile. <br>It may change in the future and is not guaranteed. <br>The lowest category does not mean no risk.
Historical NAV
Candriam Equities L Oncology Impact
Historical NAV
MSCI World (Net Return)
I Cap
This graph represents the synthetic net asset value of the fund. It is provided for information and illustrative purposes only. The synthetic net asset value is obtained by a recalculation of the values of the fund’s assets by leveling out the effect of securities transactions (split, coupon, dividend distribution...) in order to reflect the real performance of the fund share or unit. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses.
Important information
© 2022 Morningstar. All Rights Reserved. The information contained here: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For more detailed information about the Morningstar Rating, including its methodology, please go to: https://s21.q4cdn.com/198919461/files/doc_downloads/othe_disclosure_materials/MorningstarRatingforFunds.pdf
© 2022 Sustainalytics. All Rights Reserved. The information, data, analyses and opinions contained here: (1) includes the proprietary information of Sustainalytics; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute investment advice nor an endorsement of any product or project; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Sustainalytics is not responsible for any trading decisions, damages or other losses related to it or its use. The use of the data is subject to conditions available at https://s21.q4cdn.com/198919461/files/doc_downloads/press_kits/2016/Morningstar-Sustainability-Rating-Methodology.pdf .
Legal documents
About this fund
Equities of companies in the field of oncology (cancer research, diagnosis, treatment, etc.) whose registered offices and/or principal activities are throughout the world.
Investment strategy:
The fund seeks to achieve capital growth by investing in the principal assets traded and to outperform the benchmark while also generating a positive social impact over the long term, by selecting companies that address certain societal challenges and mobilise resources in the fight against cancer.
The management team makes discretionary investment choices based on economic/financial analyses, but also on the basis of Candriam's internal analysis of environmental, social and governance (ESG) criteria.
There are several strands in the selection of securities: a thematic filter, a clinical analysis and a fundamental analysis.
The thematic filter only accepts companies with a sufficient exposure to oncology and the battle against cancer in general, for example in areas such as treatments, diagnostic tools, medical equipment and services, and dedicated technologies.
The clinical analysis aims to assess the quality of the available clinical data and to use only companies found to be convincing in this respect.
The fundamental analysis focuses on those companies scoring the highest in five criteria: quality of management, growth potential, competitive advantage, value creation and indebtedness.
To achieve its social objective, the fund seeks to outperform the benchmark in two social indicators (i) research and development spending as a proportion of the company's market capitalisation and (ii) the level of education of management teams, measured as the percentage of senior executives holding a doctorate, with the aim of evaluating the human and financial resources mobilised by the companies in the battle against cancer.
The issuers are evaluated on the basis of an analysis of their activities (to assess how their activities relate to the battle against cancer) and stakeholders (how the companies manage the main considerations concerning stakeholders such as human resources, the environment, etc.).
In particular, the fund aims not to select companies with the lowest ESG scores, and to focus the investments on companies which deliver solutions in the field of oncology. The analysis of ESG aspects is therefore included in the selection, analysis and global evaluation of companies. The fund also aims to exclude investments in companies which do not respect certain recognised international standards and principles, or which are significantly exposed to certain controversial activities, or which work with countries considered to be the most oppressive. The analysis of ESG aspects depends on the availability, quality and reliability of the underlying data. It is therefore possible that the management teams is unable to select a company with an attractive financial valuation. The analysis and selection process is also accompanied by active involvement, in particular dialogue with companies and voting as the shareholder at AGMs. For more information, please see the management company's website and/or the prospectus.
The fund may make use of derivative products for both investment and hedging purposes (to protect against future unfavourable financial events).
Benchmark: MSCI World (Net Return).
The fund is managed actively and the investment approach implies a reference to a benchmark (the index).
Benchmark definition:
The index measures the performance of the large and mid capitalisation equity segment across developed markets countries.
Use of the benchmark:
- as an investment universe. In general, the financial instruments of the sub-fund are mostly contained in the index. However, investments outside this index are authorised;
- in determining risk levels/parameters.
As the fund is managed actively, it does not aim to invest in each component of the index nor to invest in the same proportions as the components of the index. In normal market conditions, the expected tracking error of the fund will be large, i.e. above 4%. This measure is an estimation of the divergence of the fund’s performance compared to the performance of the benchmark. The greater the tracking error, the greater the deviations from the index. The actual tracking error depends in particular on market conditions (volatility and correlations between financial instruments) and may therefore differ from the expected tracking error.
Investment Team
Historical NAV
Historical NAV
Candriam Equities L Oncology Impact
Historical NAV
MSCI World (Net Return)
I Cap
This graph represents the synthetic net asset value of the fund. It is provided for information and illustrative purposes only. The synthetic net asset value is obtained by a recalculation of the values of the fund’s assets by leveling out the effect of securities transactions (split, coupon, dividend distribution...) in order to reflect the real performance of the fund share or unit. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses.
Cumulative Return
1 Year | 3 Year | 5 Year | |
---|---|---|---|
Fund | 23.93 | 1.75 | 11.31 |
Benchmark | 32.43 | 9.08 | 13.54 |
Difference | -8.50 | -7.33 | -2.23 |
Additional information
The graph – which is provided for information purposes only, and not as an exact measurement of net fund assets – adapts to market developments (currency conversions, coupons, splits, …). Figures may be rounded up or down for the sake of convenience. Figures expressed in a currency other than that of investors’ country of residence are subject, for better or for worse, to exchange-rate fluctuation.
The past performance displayed on this page is nor necessarily an indicator of future performance and is not constant over time. NAV 's are provided by the accounting department and benchmarks by official data providers. Average cumulated performances, based on annual calculation of costs and taxes.
Annual return
This chart shows the fund’s performance as the percentage loss or gain per year over the last 5 years.
It can help you to assess how the fund has been managed in the past and compare it to its benchmark.
Past performance is no guarantee of future results and is not constant over time. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past. Returns are calculated in the fund's currency.
The index composition may change over time. The performance reported may therefore differ from the performance of the relevant index before its change. Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change. If for one year, there is no performance information, it is because there is no data or the data is insufficient to provide investors with useful or reliable indications on this performance.
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Fund | 41.52 % | 32.43 % | 3.43 % | -9.67 % | 1.11 % |
Benchmark | 23.24 % | 13.12 % | 21.82 % | -18.14 % | 23.79 % |
Difference | 18.27 % | 19.31 % | -18.38 % | 8.47 % | -22.68 % |
Additional information
The graph – which is provided for information purposes only, and not as an exact measurement of net fund assets – adapts to market developments (currency conversions, coupons, splits, …). Figures may be rounded up or down for the sake of convenience. Figures expressed in a currency other than that of investors’ country of residence are subject, for better or for worse, to exchange-rate fluctuation.
The past performance displayed on this page is nor necessarily an indicator of future performance and is not constant over time. NAV 's are provided by the accounting department and benchmarks by official data providers. Average cumulated performances, based on annual calculation of costs and taxes.
Risk And Reward Indicators
Definition
The risk and reward profile is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KIID.<br>The risk category is calculated on the basis of historical performance and is not necessarily a reliable indicator of the fund’s future risk profile. <br>It may change in the future and is not guaranteed. <br>The lowest category does not mean no risk.- SRI Date
- SRRI Value
- 6
Main Risks
-
Concentration risk
This risk is related to a significant concentration of investments in a specific asset class or certain markets. The greater the diversification of the fund is, the lesser the concentration risk will be.
-
Currency risk
Funds may hold exposure to a currency different from its valuation currency. Changes in the exchange rate of this currency may negatively affect the value of assets in the portfolio.
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Derivative risk
Derivatives are investments whose value depends on (or is derived from) the value of an underlying instrument, such as a security, asset, reference rate or index. Derivative strategies often involve leverage, which may exaggerate a loss, potentially causing the Sub-Fund to lose more money than it would have lost had it invested in the underlying instrument. Using derivatives may result in a higher portfolio volatility related to this underlying asset and an increase of the counterparty risk.
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Emerging market risk
These markets are characterized by higher volatility issues and a lower liquidity because of legal, political and structural matters. Market movements can be stronger and faster on emerging markets than on “developed markets”, which can lead to a substantial decline in the net asset value in the event of the adverse movements relative to the positions taken.
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Equity Risk
Some funds may be exposed to equity market risk through direct investment (through transferable securities and/or derivative products), meaning submitted to the positive or negative evolution of stock exchanges. These evolutions can be huge and be mainly driven by expectations relative to macro-economy and company results, speculation and irrational factors (including trends, opinions or rumours).
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ESG Investment Risk
ESG investment risk refers to the risks arising from the inclusion of ESG factors in the management process, such as the exclusion of activities or issuers and the inclusion of sustainability risks in the selection and/or allocation of issuers in the portfolio.
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Liquidity risk
lt occurs when a portfolio position cannot be sold, liquidated or closed at a limited cost and within a sufficiently short time, which jeopardizing the fund's ability to comply at any time with its obligations to redeem the shares of investors at their request.
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Risk of loss of capital
Investors are advised that any capital they invest is not guaranteed and that they may therefore not receive back the full amount invested. They may thus suffer a loss.
Other Risks
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Conservation risk
The insolvency, negligence or fraudulent acts of a custodian or a sub-custodian may result in the loss of assets. This risk is mitigated by the regulatory obligations of the depositaries.
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Counterparty Risk
When the fund carry out over-the-counter transactions (i.e. involving instruments not listed on the markets), they are exposed to a risk of default by the counterparty to the transaction.
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Delivery risk
In case of liquidation of assets that are subject to a transaction with a counterparty, this last, although contractually obliged, may not be able in operational terms to return the assets quickly enough to allow the fund to honour the sale of these instruments on the market..
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Legal risk
Litigations of all kinds can occur with a counterparty or a third party. The Management Company aims to reduce these risks by putting in place controls and procedures.
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Operational risk
Operational risk encompasses the risks of direct or indirect loss related to a number of factors (eg human errors, fraud and malicious acts, information system failures and external events, etc.) that could have an impact on the fund and / or the investors. The Management Company aims to reduce this risk through the implementation of controls and procedures.
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Risk of conflict of interest
The selection of a counterparty based on reasons other than the sole interest of the fund and/or unequal treatment in the management of similar portfolios can result in conflicts of interest.
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Sustainability Risk
The sustainability risk refers to any environmental, social or governance event or condition that could affect the performance and / or the reputation of issuers in the portfolio. It may be issuer specific, in line with their activities and practices, but may also be due to external factors.
Risk And Reward Indicators 30/9/24
- Alpha
-
-0.04
- Beta
-
0.79
- Information ratio
-
-0.61
- Sharpe Ratio
-
-0.15
- Tracking error
-
11.14 %
- Volatility
-
16.84 %
- Active share
-
92.99 %
- Dividend Yield
-
1.68 %
- Equity exposure
-
96.26 %
- Number of Issues
-
63
- Price Earning Ratio
-
24.90 %
- Price to Book Value
-
4.83 %
- ROE
-
22.45 %
This is the portfolio partial view
Labels
-
80%
Min sustainable investments rate -
0%
Min sustainable investments environmental rate -
25%
Min sustainable investments social rate
Fund Characteristics
- Fund name
- Candriam Equities L Oncology Impact
- Benchmark
- MSCI World (Net Return)
- Share Class
- I - Cap
- SICAV Name
- Candriam Equities L
- Currency
- USD
- Legal Form
- Sub-fund of a SICAV under Luxembourg law
- Legal status
- UCITS
- SFDR Category
- Article 9
- Creation Date
- Closing date
- The fund has no limited term
- Domicile Country
- Luxembourg
- First NAV Date
- 14/11/18
- Bloomberg ticker
- CALOIIC LX Equity
- Morningstar ticker
- F000011JSA
- Management company, having its registered office in Luxembourg
- CANDRIAM, management Company having its registered office in Luxembourg.
- Depository bank
- CACEIS Bank, Luxembourg Branch
- Transfer agent
- CACEIS Bank, Luxembourg Branch
- Recommended investment horizon
- 6 years
- Anti Dilution system
- yes
- ISIN
- LU1864482358
- Marketing authorization
- Austria; France; Germany; Italy; Korea Republic of; Luxembourg; Spain; Sweden; Switzerland; United Kingdom
Swing Pricing is a mechanism by which the net asset value is adjusted upwards (or downwards) if the change in liabilities is positive (or negative) in such a way as to reduce for existing investors the portfolio restructuring costs linked to subscription/ redemption movements in the fund. On valuation days where the difference between the amount of subscriptions and the amount of redemptions of a sub-fund (i.e. net transactions) exceeds a threshold set beforehand by the Board of Directors, the latter shall be entitled to:
- value the net asset value by adding to the assets (in the case of net subscriptions) or deducting from assets (at net redemptions) a fixed percentage of the fees corresponding to market practices and reflecting the fees and/or conditions of liquidity when buying or selling securities;
- value the securities portfolio on the basis of bid or ask prices;
- assess the net asset value by setting a level of spreads representative of the relevant market;
- The dilution mechanism must not exceed 2% of the net asset value, except in exceptional circumstances, as in the event of a sharp decrease in liquidity, which would then be detailed for the sub-fund concerned in the annual (semi-) annual report of the SICAV.
Tax, Charges & Fees
- Management fees (max)
- 0.80 %
- Subscription
- 0.00 %
- Redemption
- 0.00 %
- Ocf date
- Last ocf
- 1.00 %
This list is not exhaustive, the sub-fund incurs other costs further information on fees and charges is available in the KID/Prospectus to allow investors to understand the overall impact of costs on the amount of their investment and on the expected returns.
Orders
- NAV date
- D
- Frequency valuation
- daily
- Subscription cut off
- D 12:00
- Redemption cut off
- D 12:00
ESG documents
Download all ESG documentsShareholder Documents
Download all shareholder documentsAnnual and semi-annual reports
Download all annual documentsFactsheet and Fund Comments
Download all fact sheet documentsAwards
The quality of the ranking, award or label obtained by the fund, or the management company depends on the quality of the issuing institution and the ranking, award or label does not guarantee the future results of the fund or the management company.
Other information
This is a marketing communication. Please refer to the prospectus of the funds and to the key information document before making any investment decision. This marketing communication does not constitute an offer to buy or sell financial instruments, nor does it represent an investment recommendation or confirm any kind of transaction, except where expressly agreed. Although Candriam selects carefully the data and sources within this document, errors or omissions cannot be excluded a priori. Candriam cannot be held liable for any direct or indirect losses as a result of the use of this document. The intellectual property rights of Candriam must be respected at all times, contents of this document may not be reproduced without prior written approval.
Warning: Past performance of a given financial instrument or index or an investment service or strategy, or simulations of past performance, or forecasts of future performance does not predict future returns. Gross performances may be impacted by commissions, fees and other expenses. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change.
In respect to money market funds, please be aware that an investment in a fund is different from an investment in deposits and that the investment’s principal is capable of fluctuation. The fund does not rely on external support for guaranteeing its liquidity or stabilizing its NAV per unit or share. The risk of loss of the principal is borne by the investor.
Candriam consistently recommends investors to consult via our website https://www.candriam.com the key information document, prospectus, and all other relevant information prior to investing in one of our funds, including the net asset value (“NAV) of the funds. Investor rights and complaints procedure, are accessible on Candriam’s dedicated regulatory webpages https://www.candriam.com/en/professional/legal-information/regulatory-information/. This information is available either in English or in local languages for each country where the fund’s marketing is approved.
According to the applicable laws and regulations, Candriam may decide to terminate the arrangements made for the marketing of a relevant fund at any time.
Information on sustainability-related aspects: the information on sustainability-related aspects contained in this communication are available on Candriam webpage https://www.candriam.com/en/professional/sfdr/. The decision to invest in the promoted product should take into account all the characteristics or objectives of the promoted product as described in its prospectus, or in the information documents which are to be disclosed to investors in accordance with the applicable law.
ESG Assessment
This fund has a sustainable investment objective. It invests in economic activities contributing to an environmental and/or social objective. To achieve this objective, the management team makes discretionary investment choices based on an economic/financial analysis process and an internal analysis of environmental, social and governance (ESG) criteria.
a. ESG selection criteria:
For corporates, the internal analysis of ESG criteria consists in selecting the issuers:
• that are the best positioned to meet the challenges of sustainable development;
• that comply with the principles of the United Nations Global Compact (i.e. human rights, labour law, the environment, anti-corruption), and which are therefore less exposed to the risks associated with these themes; and
• that are not engaged in controversial activities such as armament (securities of a company whose activity consists of manufacturing, the use or possession of anti-personnel mines, cluster bombs and/or depleted uranium weapons), tobacco, thermal coal.
For sovereign issuers, the internal analysis of ESG criteria consists in selecting:
• Countries that perform best across our four categories of sustainable development criteria: Human Capital, Natural Capital, Social Capital and Economic Capital;
• Countries that are not part of our highly Oppressive Regimes or dictatorships, based on the Freedom House Freedom in the World Index and the World Bank Voice & Accountability Index.
b. Selection methodology:
The companies selected by the management company are subject to a dual analysis:
• Analysis of their activity to assess their alignment with the major challenges of sustainable development. For example, regarding the transition to a circular economy, the management company will consider a company producing recycled steel to be more sustainable than a company producing steel exclusively from iron ore; and
• Analysis of how the company manages players interacting with the company: its employees, its customers, its shareholders, its suppliers and the environment. Here too, the management company will favour companies that adopt the most sustainable practices given their sector. For example, with regard to relations with its clients, the management company will favour pharmaceutical companies with balanced pricing practices and commercial policies. Similarly, with regard to relations with their employees, the management company attaches great importance to the fight against discrimination and compliance with social standards.
Our sovereign investible universe consists of those countries which perform best across our four categories of sustainable development criteria:
• Natural Capital: stock of naturel resources managed by the country;
• Social Capital: trust, norms and institutions which people can rely on to solve common problems and create social cohesion;
• Human Capital: human productivity to which the country participates through education and other initiatives;
• Economic Capital: assessing the level of economic activity viability.
c. A team of ESG analysts is responsible for assessing the selection criteria:
The analysis and selection of sustainable investments is carried out by a dedicated team of ESG analysts within Candriam. This team is made up of specialists whose mission is to analyse the exposure of companies and governments to the risks and opportunities associated with sustainable development.
Selection criteria are expected to evolve over time, based on advances in ESG research and changes in company practices.