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Portfolio Manager comment Coeli Global Select October 2020

[et_pb_section bb_built="1" fullwidth="off" specialty="off" _builder_version="3.0.89" background_image="https://coeli.com/wp-content/uploads//2019/04/Coeli-Global-Selektiv.jpg" parallax="on" module_class="gen-trustee-single-hero"][et_pb_row][et_pb_column type="4_4"][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built="1" fullwidth="off" specialty="off" _builder_version="3.0.89" custom_padding="0px||0px|"][et_pb_row _builder_version="3.0.89" background_position="top_left" background_repeat="repeat" background_size="initial" module_class="gen-single-news-content-row gen-trustee-single-content-row" custom_padding="0px|||" custom_padding_phone="23px|||" custom_padding_last_edited="on|tablet" module_class_2="gen-trustee-single-sidebar"][et_pb_column type="2_3"][et_pb_text admin_label="Tillbaka-knapp" _builder_version="3.0.89" background_layout="light" border_style="solid" custom_margin_tablet="||17px|" custom_margin_last_edited="on|desktop" module_class="gen-back-button hide-in-print" border_style_all="solid"] Return to Fund page [/et_pb_text][et_pb_text admin_label="Datum / Skriv ut" _builder_version="3.0.89" background_layout="light" border_style="solid" custom_margin_tablet="||17px|" custom_margin_last_edited="on|desktop" module_class="gen-single-news-date-module gen-trustee-print-module hide-in-print" locked="on" border_style_all="solid"] [blog_post_date]
Print
[/et_pb_text][et_pb_post_title _builder_version="3.0.89" title="on" meta="off" author="off" date="off" categories="off" comments="off" featured_image="off" featured_placement="below" text_color="dark" text_background="off" border_style="solid" module_class="gen-single-news-heading-module gen-trustee-single-headline" date_format="d M, Y" border_style_all="solid" /][et_pb_text _builder_version="3.0.89" background_layout="light" border_style="solid" module_class="gen-single-news-content-module" border_style_all="solid"] October was an exciting month with many companies reporting; although, we saw slightly larger negative stock market movements towards the end of the month. These stemmed from the US elections and, in particular, the second wave of the coronavirus, which is again spreading across a large part of the world. A consequence of these market movements, Coeli Global Select was down 2.6 percent in value during October, which was 0.8 percentage points worse than our benchmark. Despite the disappointment of not beating the index during October, we take consolation in having outperformed our benchmark by more than 11 percent in total year-to-date. Moreover, looking at the reports from our holdings, we can only describe them as impressive. Company after company beat expectations and only two, Mastercard and Beijer Ref, were marginally weaker. All the other reports went our way. The two companies with by far the best reports versus expectations were building materials supplier Martin Marietta and Indian bank Kotak Mahindra. These two also contributed the most to the fund's performance during the month. The poorest contributor was Mastercard, which released a slightly weaker report, followed by Global Payments, whose particularly solid report did not deserve a poor share price development at all.
Key market events and trends affecting performance
Much of the activity on the markets right now is, understandably, shaped by the coronavirus and the US presidential elections. In our opinion, by far the most important factor is that some solution to the coronavirus pandemic is found. There's no doubt about the pent-up consumption need among consumers, so any positive news on the vaccine front is likely to spur a sizeable economic recovery with substantial stock market increases.
Portfolio changes
During October, we invested in Polish e-commerce company Allegro. If you'd like to learn about this investment, you are welcome to read more on our website.
The fund’s positioning
The fund is well-positioned both in the market and for the year-end and into 2021 – a year we look positively towards, anticipating upward profit trends for our companies. We have a decent balance between our sectors and are not especially affected by the development in any particular one. [/et_pb_text][et_pb_text admin_label="Coeli Global Select I-EUR" _builder_version="3.0.89" background_layout="light" module_class="gen-table-module"]

Coeli Global Select I-EUR

Performance in Share Class Currency1 MthYTD3 yrs*Since incep*
Coeli Global Select - I EUR-2.62%6.68%34.58%96.44%
Benchmark-1.79%-4.64%17.50%53.86%
* the historic performance before 2018-06-30 is an estimated performance based on the R EUR share class adjusted for the different Investment Management fee. It shall be noted that the adjusted historical performance can differ from the real outcome and therefore shall only be seen as an indicator. [/et_pb_text][et_pb_text admin_label="Coeli Global Select R-EUR" _builder_version="3.0.89" background_layout="light" module_class="gen-table-module" disabled_on="on|on|on" disabled="on"] [cg_linear_graph id="31126"] [/et_pb_text][et_pb_image _builder_version="3.0.89" src="https://coeli.com/wp-content/uploads//2020/11/global-1.png" show_in_lightbox="off" url_new_window="off" use_overlay="off" always_center_on_mobile="on" force_fullwidth="off" show_bottom_space="on" disabled_on="off|off|off" disabled="off" /][et_pb_text _builder_version="3.0.89" background_layout="light" border_style="solid" module_class="gen-single-news-content-module" border_style_all="solid" disabled_on="off|off|off" disabled="off"] * the historic performance before 2018-06-30 is an estimated performance based on the R EUR share class adjusted for the different Investment Management fee. It shall be noted that the adjusted historical performance can differ from the real outcome and therefore shall only be seen as an indicator. [/et_pb_text][et_pb_image _builder_version="3.0.89" src="https://coeli.com/wp-content/uploads//2020/11/global-2.png" show_in_lightbox="off" url_new_window="off" use_overlay="off" always_center_on_mobile="on" force_fullwidth="off" show_bottom_space="on" disabled_on="off|off|off" disabled="off" /][/et_pb_column][et_pb_column type="1_3"][et_pb_image admin_label="Bild Andreas" _builder_version="3.0.89" src="https://coeli.com/wp-content/uploads//2019/09/Andreas-Brock.jpg" show_in_lightbox="off" url_new_window="off" use_overlay="off" always_center_on_mobile="on" force_fullwidth="off" show_bottom_space="on" custom_margin="||21px|" /][et_pb_text admin_label="Namn och title" _builder_version="3.0.89" background_layout="light" module_class="gen-single-ingress-module" custom_margin="||40px|"]

Andreas Brock, CFA

Portfolio Manager Coeli Global Select [/et_pb_text][et_pb_image admin_label="Bild Henrik" _builder_version="3.0.89" src="https://coeli.com/wp-content/uploads//2019/09/Henrik-Milton.jpg" show_in_lightbox="off" url_new_window="off" use_overlay="off" always_center_on_mobile="on" force_fullwidth="off" show_bottom_space="on" custom_margin="||21px|" /][et_pb_text admin_label="Namn och title" _builder_version="3.0.89" background_layout="light" module_class="gen-single-ingress-module" custom_margin="||40px|"]

Henrik Milton

Portfolio Manager Coeli Global Select [/et_pb_text][et_pb_text admin_label="Fund Overview" _builder_version="3.0.89" background_layout="light" custom_margin="||20px|" module_class="gen-trustee-single-table"]
Fund Overview
Inception Date2014-11-28
Management Fee1.4 %
Performance FeeYes, 10%
Risk category6 of 7
[/et_pb_text][et_pb_text admin_label="Top Holdings (%)" _builder_version="3.0.89" background_layout="light" custom_margin="||20px|" module_class="gen-trustee-single-table"]
Top Holdings (%)
VONOVIA SE /NAMEN4.5%
ZOETIS INC -A-4.4%
THERMO FISHER SCIENTIFIC INC4.3%
MARTIN MARIETTA MATERIALS INC. 4.2%
SIKA LTD 4.2%
  [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built="1" fullwidth="off" specialty="off" _builder_version="3.0.89" module_class="gen-trustee-single-yield-section gen-pattern-section" custom_padding="0px|||"][et_pb_row _builder_version="3.0.89" custom_padding="||53px|"][et_pb_column type="4_4"][et_pb_text admin_label="VIKTIG INFORMATION" _builder_version="3.0.89" background_layout="light" module_class="gen-trustee-single-warning-blurb"] DISCLAIMER. The information provided here does not constitute professional financial advice. Past performance is not a guarantee of future returns. The price of the investment may go up or down and an investor may not get back the amount originally invested. The key investor information document (KIID) and prospectus are available at www.coeli.se. [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]

Portfolio Manager comment Coeli Global Select February 2024

Coeli Global Select's return for 2023 was 33.2%, coming in 14.9% better than the fund's benchmark index. We are now in our tenth year with the fund and our strategy – a mix of Champions and Special Situations – is still working well and generating returns for unitholders.

Portfolio Manager comment Coeli Global Select January 2024

Coeli Global Select's return for 2023 was 33.2%, coming in 14.9% better than the fund's benchmark index. We are now in our tenth year with the fund and our strategy – a mix of Champions and Special Situations – is still working well and generating returns for unitholders.

Portfolio Manager comment Coeli Global Select December 2023

Coeli Global Select's return for 2023 was 33.2%, coming in 14.9% better than the fund's benchmark index. We are now in our tenth year with the fund and our strategy – a mix of Champions and Special Situations – is still working well and generating returns for unitholders.

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