Our funds
RMM Actions USA
Net Asset Value
576.45 €
(18/06/2024)
AUM (fund)
210.9 M €
(18/06/2024)
Performance
+19.41 %
(YTD) (18/06/2024)
Recommended investment horizon
5 years
Risk scale
5/7
Investment objective
RMM Actions USA's investment objective is to outperform the Standard & Poor's 500 DNR Index by maintaining a minimum of 75% of its assets in the US equity market.
Change in Net Asset Value
Past performance does not indicate future performance, and is not constant over time. Performance indicated is net of fees, calculated in the reference currency of the unit.
Performance by calendar year
This chart shows the fund’s performance as the percentage loss or
gain per year over the last 10 years against its benchmark.
It can help you to assess how the fund has been managed in the past and compare it to its benchmark
Inception date of the unit/share :
28/02/2020
Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past. Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.
* The Fund’s performance is calculated with net coupons reinvested. Conversely, that of the benchmark does not take into account revenue distributed. This sub-fund of the SICAV resulted from the merger by absorption of the R-co Conviction USA FCP on 28 February 2020. C units of the FCP were created on 16 November 2005 and became C EUR shares of this sub-fund.
Performance as of 18/06/2024
| Cumulative performance | Annualised performance | |||||||
|---|---|---|---|---|---|---|---|---|
| 10 years | 5 years | 3 years | 1 year | YTD | 1 month | 10 years | 5 years | 3 years |
| 181.51% | 90.22% | 45.00% | 28.30% | 19.41% | 4.74% | 10.90% | 13.71% | 13.17% |
| 327.19% | 113.19% | 53.24% | 29.29% | 19.44% | 4.85% | 15.61% | 16.33% | 15.28% |
RMM Actions USA C EUR
100% S&P 500 TR
Past performance does not indicate future performance, and is not constant over time. Performance indicated is net of fees, calculated in the reference currency of the unit.
Risk indicators as of 18/06/2024
| Volatility | Ratios | ||||
|---|---|---|---|---|---|
| Fund | Reference index | Tracking-error | Information ratio | Sharpe ratio | |
| 1 year | 10.74% | 11.00% | 0.94% | -0.8744 | 2.2808 |
| 3 years | 15.29% | 14.97% | 1.44% | -0.8566 | 0.7581 |
Comments
31/05/2024
A month of rebound for US indices under the effect of the “soft landing” scenario.
The fund underperformed its index slightly in May, up 3.55% vs. +3.66% for the S&P 500, i.e. a relative performance of -0.11%.
The Alpha allocation was impacted by the following stocks:
o Contributors:
? Nvidia: despite very high expectations, the group beat the consensus and raised its guidance for the next quarter with sales now at $27.5bn/quarter!
? NextEra: for a second consecutive month, the US utility specialised in renewable energies continued to benefit from investors’ enthusiasm for the Utilties sector linked to the growth of AI DataCenters.
? American Tower: the main owner of telecom towers in the US rebounded, under the effect of a lull in rates and a search for undervalued defensive stocks.
? Mercadolibre = the Latam “Amazon” published results > expectations with a reacceleration in growth and increased guidance for the rest of 2024.
?
o Detractors:
? Estée Lauder = the environment remains complicated in the Beauty segment with an improvement in the inventory situation in China but loss of market share in the US.
? Disney: the results published in early May did not remove doubts about the future growth strategy of the media group? profit-taking.
? Accenture: doubts about the trend in IT spending continue to weigh on sentiment surrounding value.
In terms of movements in the Alpha allocation, we can mention the exit of Amgen after the strong rise in its share price, a reduction in Costco and an increase in the positions in Accenture, Linde and Micron.
Summary Risk Indicator
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Lower risk
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Managers
Features
- ISIN code : FR0011212547
- Legal form : SICAV
- AMF Classification : International equities
- Inception date : 28/02/2020
- Management company : Rothschild & Co Asset Management
- Custodian : Rothschild Martin Maurel
- Dividend Policy : Accumulation
- Reference indicator : 100% S&P 500 TR
- Valuation : Daily
- Latest time for subscriptions-redemptions : 12:00pm
- Applicable Net Asset Value : Next NAV
- Settlement (Settlement date) : NAV + 3
- Minimum initial subscription : 1 equities
- Subsequent subscriptions : 1/10000th equities
- Management fees (maximum) : 1.495%
- Entry fee (maximum) : 3%
- Exit fee (maximum) : None
- Performance fee : None