Pure Capital - Independent asset management

Pure Conviction International Equities - CCC An equity fund This information is valid at 23/05/2024

A diversified portfolio of international equities that are selected for their “value” characteristics, with no reference to a benchmark.

Companies that generate a lot of cash flow are only of any real interest to a long-term investor if they are able to reinvest a considerable proportion of this cash in new technologies and other growth projects that will sustain their capacity to generate future earnings and cash flows. The definition of what constitutes a “value company” for the Sub-Fund is based on two things its capacity to generate a lot of cash flow, and its capacity to use this surplus cash effectively for growth investments.”

dominique-pro.jpg Dominique Marchese Head of Equities & Fund Manager +352/26.39.86 dmarchese@purecapital.eu Get to know him

Description

Investment objective and policy

This sub-fund’s objective is to maximize the return of investments in global equity markets.

The sub-fund will have a high level of diversification and may invest in all types of equities without any restrictions in terms of market capitalization, geographical zones, sectors, etc.

Under normal market circumstances, the sub-fund invests a clear majority (at least 55%) of its net assets in OECD denominated currency securities.

Equities are carefully selected for their so-called “value” characteristics. The investment manager may also make highly selective and opportunistic investments in companies that have more of a growth profile. The sub-fund is actively managed and with no reference to a benchmark.



Investor profile

The sub-fund is intended for all investors who are looking for opportunities in global equity markets.

Investors much have a long-term investment horizon of at least five years.


Performances

Important information for investors:

The chart and returns shown below refer to past performance and do not constitute a reliable indicator for the future. This sub-fund does not offer a capital guarantee. Before investing, you should always read the PRIIPS-KID and the prospectus.

The change in net asset value and returns indicated are net of management fees, performance fees and any other fees and charges which, as indicated in the prospectus, are borne by the sub-fund. They do not include any subscription fees that may be paid to the distributor, nor any annual custody fees that may be deducted by the custodian, nor any taxes for which the investor may be liable. The returns indicated are calculated in EUR and are based on the sub-fund’s share price or Net Asset Value (NAV).

Change in net asset value This information is valid at 23/05/2024

Annual performance This information is valid at 23/05/2024

Source: Pure Capital


Risk

Risk level

1
2
3
4
5
6
7
Potentially lower reward
Lower risk.
Potentially higher reward
Higher risk.

The Summary Risk Indicator (SRI), in accordance with the Key Information Document (PRIIPS-KID), allows the level of risk of this product to be assessed in relation to others. It indicates the likelihood of losses in the event of market movements or the sub-fund's inability to pay you. This indicator ranks the risk on a scale of 1 to 7. A low score indicates lower risk but potentially lower return. A higher score will lead to higher risk but potentially higher return.

The level of risk indicated is not a guarantee and may change over time. It also assumes that you keep the product for 5 years. The risk may be significantly different if you sell the product at an early stage and you may get a lower return.

Main risks

  • “Equity” risk. The price of an equity security may vary, sometimes due to factors that have nothing to do with the company’s intrinsic value. Equity prices may be affected by economic factors and market conditions, such as a general decrease in share prices or conditions that affect one or more specific issuers, such as changes in earnings forecasts.
  • Exchange rate risk. The risk that the exchange rate of a given currency may vary with respect to that of another currency over the near or medium term.
  • Credit risk. An issuer may be unable to meet its obligations. If an issuer’s solvency position deteriorates, the value of the issuer’s bonds or of derivative instruments that are linked to this issuer may decrease.
  • Counterparty risk. The sub-fund may suffer losses if a counterparty defaults and is unable to meet its obligations, particularly if the transaction with the counterparty involves over-the-counter derivatives.
  • Liquidity risk. The sub-fund invests in markets which may be adversely affected by a decrease in liquidity. These market conditions may affect the price at which the asset manager buys or sells a given security.
  • The risk of using certain financial techniques. The use of complex products, such as derivative contracts, may amplify changes in the price of the sub-fund’s securities.
  • Discretionary management risk. Since the investment strategy is based on projected changes in the various markets, there is a risk that the sub-fund may not be invested in the best-performing markets at any one time.
  • Operational risk. The risk of an error or wrongdoing on the part of a party involved in the management, valuation and/or custody of the sub-fund’s assets.

Features

Details

  • Name: PCFS – Pure Conviction International Equities - CCC
  • Classification: Global Value equities
  • ISIN code: LU2004806514
  • Bloomberg ticker: PUREICC LX Equity
  • Type: Undertaking for collective investment in transferable securities (UCITS)
  • Legal form: A sub-fund of the “PCFS” Luxembourg SICAV fund
  • Inception date: 21/01/2020
  • NAV on inception: €100
  • Currency: EUR
  • Benchmark index: None
  • Share type: Accumulation
  • Term: Indefinite
  • Minimum recommended investment horizon: 5 years
  • Investor type: Retail investors, individuals and corporate entities
  • Management company: Pure Capital S.A. – A Luxembourg-based management company
  • Auditor: PwC Luxembourg
  • NAV publication: Website, Bloomberg, Morningstar and Beama.be

Fees

  • Management fee and other administrative or operating expenses (including Management fee: max. 1.00%) : 1.55% (no inducement can be paid to the distributor)
  • Transaction fee: 0.06%
  • Performance fee: None
  • Subscription fee: Max. 3%, at the distributor’s discretion
  • Redemption fee: 0%

Subscriptions/Redemptions

  • Minimum investment requirement: €100
  • Cut-off: 10:00 am (CET)
  • NAV valuation frequency: Daily
  • Settlement date: Max. (D+3)
  • Transfer agent / Depositary: CACEIS Investor Services Bank S.A.
  • Swing pricing applicable: No

Value Company. Listed company with a share price that reflects low investor expectations for the growth of revenue and/or earnings.

Equity. Value that would be returned to a company’s shareholders if all of the assets were liquidated and all of the company's debts were paid off.

Swing pricing. Anti-dilution technique that allows the Fund to apportion the costs linked to portfolio adjustments caused by subscription/redemption requests on the shareholders whose orders caused the necessity to rebalance the portfolio. It is a liquidity risk tool designed so that remaining shareholders don’t bear all the costs (including dilution) caused by first movers.


Disclaimer

This is an advertising communication. Please refer to the prospectus and the Key Information Documents (PRIIPS-KID), for the UCITS before making any final investment decision.

These are available free of charge on request from Pure Capital S.A. (tel: +352 26 39 86) or on its website www.purecapital.eu. The PRIIPS-KID is available in French, Dutch and English. The prospectus, the half-yearly report and the annual report are available in English.

The information presented above does not constitute investment advice and is intended for promotional purposes. It is neither a binding contractual document nor a disclosure document required by law, and is not sufficient for making an investment decision.

Past performance is not a reliable indicator of future results. Performance may vary over time. Investments are subject to market fluctuations and the investor may get back less than is invested. Exposures, allocations and investments may vary in the future in response to different market conditions at Pure Capital's discretion. There can be no guarantee that the investment objectives will be achieved.

The management and custodian fees, as well as any other costs which, in accordance with the prospectus, are charged to the sub-fund, are included in the calculation of the net asset value and, consequently, the performance.

An annual custody fee may be charged by the account holder. They vary from one institution to another. To find out about them, it is necessary to ask it.

The tax treatment of this product depends on the investor's situation. For example, in Belgium, the tax treatment may be the following:

  • Withholding tax: dividends paid by the SICAV are subject to a 30% withholding tax. CCC share class of the sub fund Pure Conviction International Equities is a capitalization share class and is therefore not affected by this tax.
  • Transactions tax: No tax is charged when purchasing the sub-fund. A 1.32% tax is charged when selling accumulation shares only. This tax is capped at €4,000.

Investors can find out about their rights at https://www.purecapital.eu/legal.html. A summary is available in English and French.

Any complaints or claims can be addressed in writing to the company's head office: Pure Capital S.A., 2 rue d'Arlon, L-8399 Windhof, Grand Duchy of Luxembourg, for the attention of Mr Thierry Léonard, Managing Partner. If the handling of these complaints by the internal service does not satisfy the investor, they may, for Belgium, be submitted to Ombudsfin, Financial Services Ombudsman, North Gate II, Boulevard du Roi Albert II, n° 8 bte. 2, 1000 Brussels, e-mail: ombudsman@ombudsfin.be in writing or via the online complaint form http://www.ombudsfin.be/fr/particuliers/introduire-une-plainte/.

Pure Capital S.A. may decide to cease the marketing of its collective investment schemes in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU.

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