Pure Capital - Independent asset management

Flexible Architecture - FD A mixed fund This information is valid at 23/05/2024

A global multi-asset sub-fund that employs a quantitative approach for flexible and diversified wealth management.

The investment manager is looking for absolute return over the long term regardless of market fluctuations. A flexible and systematic approach with quantitative models based on recent academic research is employed. In addition to the traditional asset classes (i.e. equities, bonds and cash), the sub-fund also invests in real estate and commodities. In all, over 20 asset classes are represented, which ensures a truly diversified approach to wealth management.

Investment objective and policy

This sub-fund’s objective is to deliver positive returns, through diversification over a broad range of asset classes and mainly via tracker and third-party funds, with quantitative analysis to manage the volatility of each asset class and regular portfolio rebalancing. This enable investors to enter financial markets at any time, regardless of the market’s configuration.

The portfolio’s allocation to risk assets (including commodities, gold and real estate) will not exceed 65% of its assets. 

The sub-fund is actively managed and with no reference to a benchmark.


The sub-fund is classified as Article 6 under SFDR regulation. The sub-fund does not consider principal adverse impacts on sustainability factors.

Investor profile

The sub-fund is intended for all investors who are looking for opportunities in global equity, fixed-income, credit, foreign exchange, commodities and other financial markets, but whose main concern is preserving capital.

Investors much have a medium-term investment horizon over 3 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.

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

Annual performances do not take into account dividends distributed during the year.

Last dividend payment (gross dividend, per unit): EUR 0,930567000 (11/09/2023).


Risk

Risk level

1
2
3
4
5
6
7
Lower risk.
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 3 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.
  • Interest rate risk. An increase in interest rates may cause the value of the sub-fund’s bonds to decrease.
  • 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.
  • 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.
  • 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.
  • The risk of investing in contingent convertibles (CoCo’s). CoCo’s expose investors to various risks, such as loss absorbency, price fluctuations, trigger risk and conversion risk.
  • 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.
  • 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.
  • Sustainability risk. Uncertain social or environmental event or condition that, if it occurs, can cause significant negative impact on the sub-fund’s assets.

Features

Details

  • Name: PCFS – Flexible Architecture - FD
  • Classification: Flexible asset allocation - Global
  • ISIN code: LU1215310381
  • Bloomberg ticker: PUREFFC LX Equity
  • Type: Undertaking for collective investment in transferable securities (UCITS)
  • Legal form: A sub-fund of the “PCFS” Luxembourg SICAV fund
  • Inception date: 15/05/2015
  • NAV on inception: €100
  • Currency: EUR
  • Benchmark index: None
  • Share type: Distribution (since 15/07/2022)
  • Term: Indefinite
  • Minimum recommended investment horizon: over 3 years
  • Investor type: Professional & Institutional
  • Management company: Pure Capital S.A. – A Luxembourg-based management company
  • Auditor: PwC Luxembourg
  • NAV publication: Website, Bloomberg and Beama.be

Fees

  • Management fee and other administrative or operating expense (including Management fee: max. 0.50%) : 1.53%
  • Transaction fee: 0.08%
  • Performance fee: None
  • Subscription fee: Max. 3%, at the distributor’s discretion
  • Redemption fee: 0%

Subscriptions/Redemptions

  • Minimum investment requirement: €5.000.000
  • 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

Disclaimer

This is an advertising communication. Please refer to the prospectus of the fund and the Key Information Document (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: Over 10% of this sub-fund’s portfolio is invested in debt securities. The income on these securities is subject to a 30% withholding tax.

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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