GENEVA, May 19, 2015 (GLOBE NEWSWIRE) — Eight months after the appointment of Michael Clements, SYZ Asset Management has conducted a highly positive initial review of Michael’s arrival as Head of the European Equities team. Michael Clements has been quick to take advantage of his fully dedicated analysis and investment management team and both the OYSTER European Opportunities and OYSTER European Selection funds have enjoyed excellent performance, outperforming both their benchmark index and their peer group. In an economic context that is fundamentally favourable to European equities, Michael Clements and his team can detect many undervalued stocks ripe for appreciation as a result of his long-term contrarian investment approach.
Highly positive review
Eight months after the appointment of Michael Clements as Head of European Equities on 1 September 2014, the results of his arrival as head of the London-based team are rated as highly positive. Michael Clements has all the flexibility needed to implement his investment style and, assisted by a fully dedicated analysis and management team, he has been able to widen the universe of his investment opportunities. The excellent performance of the two flagship funds, OYSTER European Opportunities and OYSTER European Selection, bear witness to this. Since Michael Clements took over management of the funds, they have seen growth of +22,25% and +24,08%[1] respectively, compared with +17,66% for their benchmark index, the STOXX Europe 600 NR EUR. These outstanding results have also enabled these funds to outperform their peer group (Lipper Global Equity Europe: +17,22% over the same period), classifying them in the 9th and 11th percentiles respectively.
Conviction management
While the OYSTER European Selection fund is slightly more concentrated, both European equity funds share the same active management approach, based on alpha generation and strong convictions. The investment approach remains completely agnostic as regards investment style. The management team invests mainly in high-quality companies that have strong competitive advantages and robust balance sheets but whose share prices are temporarily suffering downward pressure. This focus on valuation means that the funds tend to invest in a contrarian manner. Finally, the team’s management philosophy attaches great importance to risk assessment and control, meaning the team can also outperform during periods of declining markets.
Three strong supports for European equities
Even though the European markets have done well since the beginning of the year, euro zone equities still seem attractive and their medium-term prospects look positive. This is because Europe is benefiting from three powerful driving forces. First, the quantitative easing programme put in place by the ECB will increase liquidity and keep interest rates at rock bottom. Second, the economic climate is being stimulated by the decline in oil prices over the past year. Finally, the weak euro will help exports. In this positive environment, the team managed by Michael Clements can detect many investment opportunities. These macroeconomic dynamics have led to the undervaluation of certain sectors that have lagged behind in share price growth such as the construction sector, with the fund holding positions in companies such as Legrand, Schneider, Zumtobel, Kingfisher and Countrywide, all of which look attractive on a long-term basis. In the energy sector, Michael Clements is currentl
y hunting for potential new ideas as share prices are under pressure due to concerns about the low oil price.
Administrative information
OYSTER European Opportunities ------------------------------------------------------------------------------------------------ Available share classes ISIN Mgmt Fee Perf. fee ----------------------------------------------------------------------------------------------- Class EUR LU0096450555 1.75% 10% absolute ----------------------------------------------------------------------------------------------- Class EUR2 LU0507009503 1.75% 20% relative* ----------------------------------------------------------------------------------------------- Class CHF2 LU0608364427 1.75% 20% relative* ----------------------------------------------------------------------------------------------- Class USD2 LU0933606054 1.75% 20% relative* ----------------------------------------------------------------------------------------------- Class No Load EUR LU0133194562 2.25% 10% absolute ----------------------------------------------------------------------------------------------- Class R EUR2 LU0507009925 1.00% 20% relative* ----------------------------------------------------------------------------------------------- Class R GBP2 LU0507009768 1.00% 20% relative* ----------------------------------------------------------------------------------------------- Class S EUR LU0335767496 1.00% 10% absolute ----------------------------------------------------------------------------------------------- Class I EUR2 LU0933606302 0.90% 20% relative* ----------------------------------------------------------------------------------------------- Class I EUR2 D LU0933607292 0.90% 20% relative* ----------------------------------------------------------------------------------------------- *NB: Performance fee is calculated on the outperformance over STOXX Europe 600 EUR (net return) (Ticker SXXR, in EUR) Risk profile: Lower risk Higher risk Potentially lower risk Potentially higher risk 1 2 3 4 5 6 7 OYSTER European Selection ----------------------------------------------------------- Available share classes ISIN Mgmt Fee Perf. fee ---------------------------------------------------------- Class R EUR LU0688633170 1.25% -- ---------------------------------------------------------- Class R CHF LU0688633337 1.25% -- ---------------------------------------------------------- Class EUR LU1045038533 2.00% -- ---------------------------------------------------------- Class I CHF LU1045038889 1.00% -- ---------------------------------------------------------- Risk profile: Lower risk Higher risk Potentially lower risk Potentially higher risk 1 2 3 4 5 6 7
The prospectus, the key investor information documents, the articles of association and the annual and semi-annual reports on the funds are available from the representative and payment agents.
For more information, contact:
Moreno Volpi
Tel: +41 (0)58 799 16 98
Email: moreno.volpi@syzgroup.com
Note to Editors
About SYZ Asset Management
SYZ Asset Management is the institutional management entity of the SYZ Group. It provides traditional and alternative investment solutions to institutional investors such as pension funds, insurance companies, corporates and investment funds.SYZ Asset Management meets the highest standards in terms of institutional management and service to its clients using its own resources as regards economic research and financial analysis as well as in portfolio management and risk management.
About SYZ
Founded in Geneva in 1996, the Swiss banking group SYZ has, thanks to its original concept and proven results over a number of years, won recognition as a respected player in the financial sector. Exclusively focused on wealth management, SYZ has 440 staff and assets under management of CHF 29 billion (EUR 28 billion). Besides the Bank’s head office in Geneva, the Group has other locations in Switzerland – in Zurich, Lugano and Locarno – and overseas in Milan, Madrid, London, Edinburgh, Luxembourg, Brussels, Paris, Dubai, Nassau and Hong Kong. Its activity is based on two mutually reinforcing pillars: high-end private banking and institutional management in the form of mandates and investment funds.
www.syzgroup.com
About OYSTER funds
OYSTER is the family of UCITS investment funds developed by SYZ Asset Management and designed to meet the specific needs of professional clients. Explicitly based on active, high-performance management, this Luxembourg-based fund comprises nearly 30 compartments authorised for distribution in and from Switzerland and is currently registered and distributed in various countries in Europe and Asia through an extensive distribution network. To satisfy this discerning and demanding client base, SYZ Asset Management entrusts management of its OYSTER funds to internal and external fund managers. A number of strategies have also been the recipients of internationally recognised awards.
www.oysterfunds.com
Contacts
OYSTER Sicav SYZ Asset Management
11-13 Boulevard de la Foire (Luxembourg) SA
L-1528 Luxembourg 54 rue Charles Martel
info@oysterfunds.com L-2134 Luxembourg
Tel. : +352 26 27 36 1
REPRESENTATIVES
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Disclaimer
Oyster SICAV is an open-ended multi-fund investment company established and regulated in Luxembourg and recognised in the United Kingdom (“UK”) by the FCA under s. 264 Financial Services and Markets Act 2000 with reference number 534187. This document has been issued in the UK by SYZ Asset Management LLP (authorised and regulated by the FCA with reference number 462914). Potential investors in the United Kingdom are advised that none of the protections afforded by the UK regulatory system will apply to an investment in any Oyster SICAV sub fund and that compensation will not generally be available under the Financial Services Compensation Scheme. Copies in English of the SICAV’s current Prospectus and Key Investor Information Document can be obtained from SYZ Asset Management LLP. Instructions to purchase or redeem shares of any class available to UK Investors can also be placed with them. Past performance is not a guide to the future, and the value of investments can fall over time as well as rise. An investment in sub-funds of Oyster SICAV involves risks that are more fully described in the Prospectus. The content of this media release is provided solely for information purposes and constitutes neither a recommendation to buy or sell. Always consider taking independent investment advice from a person properly authorised and regulated prior to investing.
[1] Performance for OYSTER European Opportunities R EUR2 and OYSTER European Selection R EUR between 1 October 2014 and 15 May 2015.
press release – SYZ AM – Mike Clements: http://hugin.info/166509/R/1922357/689152.pdf
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