Little investment fund, have stood by 2018. Who are the survivors of the stock market crisis ? What hopes for 2019 ?
For investors who wish to diversify their economies with a dose of shares, investment funds represent a practical solution. These collective investment schemes (MUTUAL funds) are professionally managed portfolios, for which the underwriters may purchase units from a few tens of euros. Practical, but not without risk, as the financial markets love to play the roller coaster. After six years of rising almost uninterrupted from 2012 to 2017, the stock market crisis of the fall recalled the brutal reality for investors.
at the end of December 2018, the balance of the year was severe for investment funds in shares, down 14.5 % on average for the funds of large French values (compared to 11% for the CAC 40) and nearly 24 percent for funds specializing in shares in French small and medium-sized enterprises, according to the analysis company Quantalys. The rebound from the beginning of the year has erased some of the losses. Year on year, to 11 February, the decrease in funds from major French values, is reduced to 7.3 %, while the CAC 40 has returned to its level of 5,000 points reached a year earlier.
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But all funds have not been affected in the same way by this retrenchment. First, the economic situation has been more favourable to some categories than others, as well as for those who are specialized in the values of american growth, driven by the Internet giants (+ 16.5 per cent on a year at the February 11, + 2.9% in 2018), in the shares in brazil (+ 12.5% over one year, + 2 % in 2018), or in the pharmaceutical sector (+ 16% on year, + 3.7% in 2018). The funds in shares, land international have even made the big difference, went from a loss of 3.2% in 2018 to nearly 18% gain on a year to 11 February, according to Quantalys.
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Then, some of the funds faired better than others in all categories. At the head of the european equity fund and the French, with a gain of 4.8% in 2018 when all its competitors were in the red, FDC Brexit, the Financial position of the City, are up 10.1% over one year (to February 11). "Unlike many managers, we considered the ad to the Brexit as a signal of purchase of actions british who were going to take advantage of the decline of the pound sterling," says Emmanuel Sales, president of the Financial life of the City.
FDC Brexit placed on companies instead of industrial, primarily british (45 %) and switzerland (22 %), considering that these two countries have a unique advantage, thanks to a monetary policy better adapted to their economy, because they have their own national central banks which do not depend on the ECB.
outside of the FDC Brexit, dozens of fund shares european and French have found a score positive on a year to 11 February, thanks to the recovery of 10 % of the Stock after Christmas, but they all experienced declines of more or less large-scale in 2018. Among those that have best weathered the storm, we noticed the structures belonging to networks general public, such as Groupama Europe Stock-N (+ 13.6 per cent on a year - 0.5% in 2018), or BNP Paribas Human Development R (+ 9.4% on a year - 3.2 per cent in 2018).
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Some Exchange-traded funds (ETF, Exchange traded funds, or etfs) tracking the equity indices have also fired their pin of the game, like Lyxor Stoxx Europe Select Dividend 30 (+ 5.4% on a year - 4.3% in 2018), which tracks an index of 30 large-value european high dividend.
The u.s. equity funds are better brought out, drawn by the enthusiasm for technology stocks and pharmaceuticals, but also by the rebound of the dollar. On 2018, the greenback has returned 4.7% compared to the euro, 87,21 cents. Has less than 89 cents on the 13th of February, it remains at a historically low level and enhances the competitiveness of u.s. companies. MSIM US Growth (+ 25.2 per cent year on year, + 9.9% in 2018), managed by the us bank Morgan Stanley, which was thus on the "companies established or emerging high quality with sustainable competitive advantages, strong cash generation and a favourable trend in the return on invested capital", according to his last report to management. Other funds of Morgan Stanley, the MSIF US Advantage A (+ 19.8 per cent year on year, + 5.9% in 2018) is also among the best u.s. equity funds with a gain of 445% in ten years.
These traditional investment funds out of the batch of 2018 are sold by dessociétés management or distributors (banks or investment advisers, financial) on the basis of their next net asset value.
The Exchange-traded funds following the u.s. stock indexes are also part of the best of this category, like the "tracker" Lyxor PEA Nasdaq 100 (+ 17.8% on year, + 4.6% in 2018). The latter has the triple advantage of track the index of the top 100 growth stocks of the Nasdaq, while benefiting from the reduced taxation of the shares saving Plan (PEA) and with only a 0.3% annual management fee. In the same spirit, the tracker BNP Easy S&P 500 (+ 14.5 per cent year on year, + 0.4% in 2018), also eligible to the PEA, follows the Standard index & Poor's 500 leading u.s. stocks with only 0.15 % of management fees.
The international equity fund, the more diversified are also more resilient thanks to the preponderance of the United States, which accounted for 62% of the financial markets of developed countries, and 55 % of the world market, including the emerging countries. Among the best, Comgest World (+ 12.9% over one year, + 3.9% in 2018) is an international equity fund diversified growth companies to the level of reasonable valuation, management style experienced professionals under its English acronym "Garp" (Growth At a Reasonable Price). A strategy that has paid off in the long term : it has been multiplied by more than 10 since its launch in June 1991! In another spirit, the fund tracker Lyxor DJ Global Titans (up 13.2 % year on year, + 0.1% in 2018) follows the index of the top 50 global companies, which are for three-quarters american.
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outside of the United States, the emerging markets that have best withstood the turbulence of 2018 are Russia, Brazil, and the Exchanges of the Middle East and North Africa. We note as well the good results of the trackers Lyxor PEA Russia (+ 18 % year on year, + 5.6% in 2018) and Lyxor PEA Brazil (up 9.7 % year on year, + 1.2% in 2018), both eligible to the PEA with a management fee of 0.65% per annum.
Among the sectors for funds specializing in pharmacy and other values of health arrive at the top of the charts. Many of these structures are managed by foreign banks levy a fee for entry deterrence, in the absence of distribution partnerships which are more favourable to investors. Rare exception, the FF Global Health Care (+ 21.6 per cent year on year, + 9.5% in 2018), the us giant Fidelity, is accessible free of charge on payments in some insurance contracts,-life multi-media, including Darjeeling within the broker Placement-direct.fr.
Also very efficient, with a reduced management fee to 0.3 %, the tracker Lyxor MSCI World Health (+ 18.6 per cent year on year, + 7.6% in 2018) follows the msci world index in the health-care sector, comprising two-thirds of pharmaceutical companies u.s., but in which reign as the giants of swiss industry (Roche, Novartis) and the French Sanofi. Securities that possess most of the funds specialized in this sector, in different proportions.
In Europe, the public services (energy, water, waste) have also dodged the decline in 2018, as evidenced by the good performance of the tracker BNPP Easy Stoxx Europe 600 utilities (+ 22 % year on year, + 2.3% in 2018), which follows the index of the sector with fees of 0.3% per year.
These funds trackers can be purchased by passing an order of Grant, as to shares, or in some life insurance contracts.
looking for performance, other funds created in 2018 to explore different management styles. Among them, a plethora of new or old adopts methods of socially responsible investment (SRI) based on the respect of environmental values, social and governance (ESG). Add some additional filters.
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"For our new fund CBT Euro SD, we dissect the correlations between securities, in addition to the ESG criteria, resulting in a portfolio that is more resistant to shock scholars", for example, explains Christian Bito, president of CBT Management. Too recent to be included in the list, CBT Euro SD account on the know-how of its manager, Vladimir Danesi. This "star" is one of the best in the ranking AM League, a contest comparing the scores of different managers with a fee and a rule of the game common. Another avenue of diversification, thematic funds that focus on phenomena of society, or of the major economic trends. CPR AM, thus, offers a dozen funds based on various themes beyond the traditional approaches by country or by sector. After the launch end of 2016, the fund CPR Invest Global Disruptive Opportunities (+ 10.2 per cent on a year - 7.9% in 2018), focusing on companies "that shake up the established order by transforming an existing market or creating a new market", it expanded its range in the autumn with a fund on the education. CPR Invest Education's focus is on companies managing schools and universities, technologies and education content, the student residences, etc, to be Penalised by the purge of the market since its launch at the beginning of October, it has already erased the bad memory with a gain of 12.5 % since the beginning of 2019.