OVERVIEW

Four Cadmos Engagement Funds compartments, all following our proprietary Buy & Care® investment strategy for equities, are proposed to investors:

  1. Cadmos European Engagement Fund – managed by Christopher Quast and Paolo Bozzo
  2. Cadmos Emerging Markets Engagement Fund – managed by Wojciech Stanislawski and Juliette Alves
  3. Cadmos Swiss Engagement Fund – managed by Alexandre Stucki and Nathalie Kappeler
  4. Cadmos Peace Investment Fund – managed by Christopher Quast and Paolo Bozzo

 

Our performance reports explain and illustrate the impact of the Buy & Care strategy on the fund’s financial performance as well as on the progress achieved by the companies:

CADMOS EUROPEAN ENGAGEMENT FUND

The Cadmos European Engagement Fund is managed in Geneva by de Pury Pictet Turrettini & Co Ltd, an independent Swiss company founded in 1996. De Pury Pictet Turrettini & Co Ltd has CHF 4 billion under management on behalf of institutional and individual clients.

Management philosophy and style

The managers have a structured, stable, approach successfully applied over more than 10 years to institutional mandates for European equities. This approach made it possible to outperform the benchmark on a regular basis. They consider investing in companies rather than issues and as a general rule, the companies in the fund portfolio are held for 5 to 10 years. The managers are intimately familiar with each company and meet regularly with their management. The approach is essentially bottom-up and the tracking-error for the funds is relatively high, however considerable sector diversification is maintained.

The investee companies offer excellent “financial quality” (in terms of return on investment, indebtedness level and their capacity for organic growth), quality management (in managing financial resources, in the execution of their strategy, and based on the alignment of their interests with shareholders’ interests) and a position of strength compared to their competitors, their clients, and their competitive environment in general.

 

 

 

CADMOS EMERGING MARKETS ENGAGEMENT FUND

The Cadmos Emerging Markets Engagement Fund is managed in Paris by Comgest S.A., an independent company founded in 1985. Comgest has EUR 15.8 billion under management through funds including its Magellan Funds, whose target performance is mirrored by the Guilé Emerging Markets Engagement Fund.

Management philosophy and style

The fund is very concentrated and the turnover rate is low, which is unusual for this sector. It is made up of 40 to 50 issues selected with a long-term investment horizon based on the quality of the company, the balance sheet and its Management.

The management style of the fund can be described as free of constraints but extremely coherent. Comgest takes a contrarian approach which is nonetheless clearly rooted in the reduction of downside risk by selecting attractively valued, low-risk issues. Investment selection favors companies with a solid competitive position that offer attractive prospects for earnings and cash flow growth.

 

CADMOS SWISS ENGAGEMENT FUND

The Cadmos Swiss Engagement Fund, launched in April 2014, is managed in Geneva by AS Investment Management, an independent Swiss company founded in 2006. The firm has CHF 250 million in assets under management and is regulated by FINMA, the Swiss financial market supervisory authority..

Management philosophy and style

We concentrate on quality companies that we know well and that have produced continuous growth over several years. Our investments are low-risk and generate stable returns. The companies in which we invest generally present:

  • a sound balance sheet,
  • stable, regular earnings growth,
  • a high return on invested capital,
  • and strong free cash flow generation.

We take stakes in companies with sustainable growth, a management team focused on the long term and which offer a reasonable valuation. A substantial portion of these companies’ value is determined by their long-term performance.

The main objective is to increase the capital entrusted to us while controlling the risk. To achieve our goal, we apply a “growth” and “value” investment philosophy. Our investment strategy centres on financial analysis. We devote most of our resources to analysing the longevity of the competitive advantage of companies. We make regular visits to the companies selected, we are in frequent contact with their management and talk to their competitors.

 

 

CADMOS PEACE INVESTMENT FUND

The Cadmos Peace Investment Fund, launched in January 2018, is managed by de Pury Pictet Turrettini & Co Ltd, an independent Swiss company founded in 1996. De Pury Pictet Turrettini & Co Ltd has CHF 4 billion under management on behalf of institutional and individual clients.

The fund invests in leading global companies, active in fragile countries and with a high peacebuilding potential. Together with the expertise of the PeaceNexus Foundation, the Fund is an active shareholder and guides companies to improve their contribution to peacebuilding.

The Cadmos funds’ Buy & Care® strategy which focuses since 2006 on shareholder engagement and PeaceNexus’ unique expertise, provide the legitimacy needed to be heard and taken seriously by the companies in which we invest.

The Peace Investment Fund allows investors to align their financial performance objectives and responsibility as shareholders, by actively contributing to a positive global social impact.

Management philosophy and style

The managers successfully apply since 2006 the Buy & Care® investment strategy. The approach is essentially bottom-up and the managers are intimately familiar with each company and discuss regularly with their management. The investee companies offer excellent “financial quality” (in terms of return on investment, indebtedness level and their capacity for organic growth), quality management (in managing financial resources, in the execution of their strategy, and based on the alignment of their interests with shareholders’ interests) and a position of strength compared to their competitors, their clients, and their competitive environment in general.

 

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