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Blue Sky Balanced Fund plc B-Class
Fund Description
The investment objective of the Blue Sky Balanced Fund is to generate long-term cap-
ital appreciation through investment in a well diversified portfolio providing exposure primarily
to government, corporate and convertible bonds. The remaining part of the portfolio may be
invested directly or indirectly in equity, equity related instruments and gold. Financial
derivatives may be used in order to reduce risk and/or enhance returns.
The investment process aims to exploit opportunities through dynamic asset allocation.
Performance since inception: +5.04 % p.a.*
KEY FIGURES
as of 15/01/2015
123 %
118 %
11,77%
114 %
109 %
105 %
100 %
4,88%
3,56%
0%
-0,76%
96 %
91 %
87 %
2010
*YTD
2011
2012
1.69 % *1 year
2013
6.37 % *3 years p.a.
2014
2015
9.69 %
122.50 EUR
114.97 EUR
2.65
-7.99 %
4.88 %
3.56 %
11.77 %
FUND DATA
Management Company
Investment Manager
Custodian of the fund
Others
7-10
Distribution policy
ISIN code
Bloomberg
Fund currency
Inception date
Subscription fee
Management fee
0-1
1-2
5-7
72 %
63 %
54 %
45 %
36 %
27 %
18 %
9%
0%
2-5
48 %
42 %
36 %
30 %
24 %
18 %
12 %
6%
0%
Others
as of 31/12/2014
7-10
as of 31/12/2014
5-7
Allocation by Yield
2-5
Allocation by Maturities
1-2
122.50 EUR
239.57 m EUR
6.58 % *since incept. 22.50 %
Past performance figures are not a reliable indicator of an investment fund’s future development and do not guarantee any similar or equivalent future performance. Every capital investment bears a risk. Prices may rise as well as fall.
Issue and redemption fees have not been taken into account when calculating performance. Performance data have
been calculated using the OeKB (Österreichische Kontrollbank) calculation method.
*Calculation provided by Cyberfinancials Datenkommunikation GmbH.
0-1
NAV as of 15/01/2015
Fund size
Volatility
(since inception)
12m high
12m low
Mod. sharpe ratio
(since inception)
Max. drawdown
(since inception)
Performance 2014
Performance 2013
Performance 2012
Hurdle Rate
Legal form
Financial year end
Registered for sale in
C-QUADRAT Asset
Management (UK) LLP
UBS Luxembourg SA
(Dublin Branch)
reinvesting
IE00B3PM2G14
BLSKBBE ID
EUR
01/12/2010
0.35 % (+ 10 %
performance fee 3
months-Euribor (Hurdle
Rate) - high-watermark)
3m Euribor
Irish QIF
31.12.
-
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This information is exclusively intended for professional investors and not for retail clients.
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Asset Allocation
Summary Fund Statistics
as of 31/12/2014
as of 31/12/2014
90 %
80 %
70 %
60 %
50 %
40 %
30 %
20 %
10 %
0%
Number of Holdings
BBB+
Weighted Modified Duration
4.63
Weighted YTM
3.87
Weighted ASW Spread
239
Commodities
Equity
Funds
Fiexed Income
Avg Credit Rating
49
Top 5 Positions by Weight
Top 5 Positions by Yield
as of 31/12/2014
as of 31/12/2014
GE 7 1/8 12/15/49 A (New York)
2.97 %
BMPS FLOAT 12/99
ITALY 6 7/8 09/27/23 (LN)
2.88 %
ISPIM 6.4 02/12/15 (IM)
8.95 %
WELLS FARGO 7.98 02/28/49 (New York)
2.87 %
C 5.8 C (OTC)
6.18 %
ISPA 2 1/4 07/31/19 CPI (LX)
2.54 %
ENELIM 8 3/4 09/24/73 144A (ID)
6.13 %
BANESP 0 24/01/2015
2.20 %
PETBRA 4 3/4 01/14/25 (NM)
6.12 %
Top 5 Positions by Duration
Top 5 Funds by Weight
as of 31/12/2014
as of 31/12/2014
13.31 %
C 5.8 C (OTC)
15.93
C-QUADRAT STAR PICKER FUND A SERIES
15.80 %
ENELIM 6.8 09/15/37 REGS (New York)
12.64
DUEMME SICAV GLOBAL CONVERTIBL
9.70 %
ISPIM 3.928 09/15/26 EMTN (LX)
9.19
DUEMME SICAV EURO INVESTMENTS
7.30 %
AXASA 5.453 1/29/49 EMTN
8.12
DUEMME-C-QUADRAT ASIAN BD-I (LX)
2.60 %
ALVGR 3 3/8 09/29/49 (LX)
8.09
BCM HIGH YIELD FS PLC-I EUR
1.80 %
These portfolio data are gross numbers and based on the most recently available information sources and may
therefore deviate from the portfolio data indicated in the fund’s accounting (legal/factual inventory).
Opportunities / Advantages
Well diversified portfolio across geographical areas, issuers, sectors and maturities
Long-credit and interest rate bias
Additional diversification provided through equity
and gold exposures
Low leverage levels
Dynamic asset allocation
Combines a top-down thematic approach with a
bottom-up selection of single investment ideas
Highly experienced portfolio management team
Risks
Market risk: The risk which is linked to the daily
mark-to-market price fluctuations of the fund’s investments
Credit risk: Refers to the risk that a borrower will
default on any type of debt by failing to make
payments which it is obliged to do
Liquidity risk: The risk that a given security or asset
cannot be traded quickly enough in the market to
prevent a loss (or make the required profit)
Counterparty risk: Also known as a default risk, is
the risk that a counterparty will not pay what it is
obligated to do on a transaction
Operational risk: The risk of loss resulting from inadequate or failed internal processes, people and
systems or from external events
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Managers comment
as of 31/12/2014
The last month of 2014 has been a negative one as the most volatile asset classes exhibited negative returns due to
the weakness in the emerging markets and the continued drop in oil prices: the main equity indices were down, while
European government bond rates declined further reaching new lows. Credit spreads widened across the rating spectrum with the Emerging Markets underperforming the most, especially in Latin America.
This increase of risk aversion in the markets has been the result of a combination of factors among which the drop in
the oil prices, the Russian crisis and the generalized fears that emerging economies could be impacted by the Fed’s
hiking cycle; at the same time renewed statements from ECB’s officials have strengthened the expectations for additional measures to be announced in January.
In December the Fund was quite resilient and exhibited very limited negative returns: notwithstanding the turbulent
markets, the portfolio benefitted from the long US dollar exposure whose performance was able to offset almost
completely the weakness of both credit and equity markets. During the month the Fund increased its exposure to specific event driven single stocks as well as it exposure to the greenback.
KEY FIGURES
NAV as of 31/12/2014
Performance 1 Month
A:
B:
C:
A:
B:
C:
116.42 EUR
120.47 EUR
111.65 EUR
0.11 %
0.12 %
0.04 %
This document has been prepared by C-QUADRAT Asset Management (UK) LLP, 1 Vine Street, London W1J
0AH, which is authorised and regulated by the Financial Conduct Authority ("FCA"). This document is provided for information purposes only, and does not
represent an offering or invitation to purchase or sell
units in a Fund, and nor should it be deemed an invitation to submit an offer for conclusion of any contract on investment services or other services. This
document cannot replace the advice of your personal
investment advisor. Any decision by an investor to
buy shares in the Fund or a compartment of the Fund
must be made solely on the basis of the information
and terms contained in the Fund’s prospectus. This
document is only provided for information purposes,
does not provide any reliable indication of future
trends and entirely excludes any liability in relation
to the accuracy, completeness or up-to-dateness of
the information contained herein and the views expressed. Performance data for the Fund or Fund’s
compartments is not based on audited financial data.
Past performance may not necessarily be repeated
and is no guarantee or projection of future results.
Currency risk: Due to the Fund’s quotation in a specific currency, investors purchasing units in a different currency may suffer losses due to general currency fluctuation. Opinions expressed herein may not
necessarily be shared by all employees or partners of
C-QUADRAT Asset Management (UK) LLP and are subject to change without notice. The securities referenced in this document have not been registered under the Securities Act of 1933 (the ‘1933 Act’) or
any other securities laws of any other U.S. jurisdiction. Such securities may not be sold or transferred
to U.S. persons unless such sale or transfer is registered under the 1933 Act or exempt from such registration. This information does not constitute tax advice. Investors should consult their own independent
advisors with regard to their tax situation.
© C-QUADRAT Asset Management (UK) LLP.
All rights reserved.
CONTACT INFORMATION
Info-hotline:
e-mail:
Internet:
+44 207 925 8707
[email protected]
www.c-quadrat.com/uk
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