Experience the new Fund Centre
AXA Rosenberg US Enhanced Index Equity Alpha Fund
Last NAV 33.1500 USD as of 30/03/20
The aim of the Sub-Fund is to provide long-term capital growth with a total annual return on investment (generated through an increase in the value of the shares held by the Sub-Fund and/or income received from those shares) of approximately 1% including all fees/expenses above the annual return of the S&P 500 index on a rolling three-year basis, while seeking to maintain a level of risk close to that of the index.The S&P 500 index is designed to measure the performance of the shares of the 500 largest US listed companies.
Synthetic Risk & Reward Information scale
The risk category is calculated using historical performance data and may not be a reliable indicator of the Sub-Fund's future risk profile. The risk category shown is not guaranteed and may shift over time. The lowest category does not mean risk free.
Why is this Fund in this category?
Fund manager comment : 29/02/20
US equity markets started the month positively and the S&P 500 hit a new all-time high mid-month. However, towards the final week of the month a global sell-off ensued as the outbreak of the coronavirus worsened and concerns over the impact on businesses and to the wider economy weighed on investor sentiment. Against this backdrop the US equity market fell -8.2% in US dollar terms over February, as measured by the benchmark index S&P 500. All sectors recorded negative returns over the month but sectors that exhibited defensive characteristics outperformed. The consumer discretionary sector took the lead, boosted by retail stocks, with communication services and technology also outperforming; the energy sector remained in last place. From a factor perspective, Momentum was aligned with Low Volatility and outperformed the broader market, while Value swooned. The Fund performed in line with its benchmark index, net of fees and expenses applicable to the A USD share class. The risk factor profile of the Fund proved detrimental as the positive exposure to the value factor based on earnings detracted in an environment where Value remained out of favour over the month. A positive contribution to relative returns came from industry allocations; the overweight to biotech stocks helped as the industry exhibited positive price momentum on news of studies to find a treatment for the coronavirus. Consequently top stock picks were biotech firm Gilead Science and Vertex pharmaceutical, with the former announcing the start of two late-stage studies to test its antiviral drugs as a potential treatment to the virus.
|Performance indicator||Start date||End date|
|Performance table||Net performance||Performance indicator||Start date||End date|
|Risk table||Fund volatility||Benchmark volatility||Tracking error||Information ratio||Sharpe ratio||Beta||Alpha|
|First NAV date||08/10/03|
|Asset class||ROSENBERG EQUITIES|
|Legal authority||Central Bank of Ireland|
|Fund Manager||Harry PRABANDHAM|
|Investment team||MT AXA Rosenberg 7|
|Legal form||Unit Trust|
Subscription and redemption
The subscription, conversion or redemption orders must be received by the Registrar and Transfer Agent on any Dealing (Business) Day no later than 1 p.m. Irish time. Orders will be processed at the Net Asset Value calculated for that Dealing Day.Please note that there may be additional processing time if your order is placed via intermediaries such as platforms, financial advisors or distributors.The Net Asset Value of this Sub-Fund is calculated on a daily basis. Minimum initial investment: USD 100,000 Minimum subsequent investment: USD 5,000