#  Investment objectives & strategy
Lower Risk
Lower Expected Reward
Higher Risk Higher Expected Reward
VIA Smart-Equity World is a UCITS fund invested in Global Equities through a systematic approach. Its strategy
1	2	3	4	5	6	7
Capital at Risk.

## Key facts
Strategy	Equities
Geography	World
Benchmark	MSCI ACWI Equal Weighted
Index (M1WDEWGT)**
Reference Ccy.	USD Launch Date	24/03/2016 No of holdings	252
AuM (USD)	73.4 m
Morningstar™ Sustainalytics™

## Legal information
Inv. Manager	Veritas Investment Associates (VIA AM)
Man. Company	Eric Sturdza Management
Company SA
Domicile	Luxembourg
LU, IT (EUR Instit. Only), FR,
consists in selecting liquid global developed and emerging markets companies with the best value creation profile from a shareholder’s point of view that have at the same time high profitability, good perspectives and have relatively inexpensive valuations. In order to better account for the economic reality of the stocks, their accounting data are normalized prior to assess their fundamentals. The portfolio is reviewed monthly to ensure proper reactivity, but it is rebalanced only by fraction to limit timing dependency and slippage. The strategy is implemented mostly through the purchase of stocks, but derivatives may also be used to reduce risk and enhance performance.
Historical performance & statistics 
(I EUR share class)*
I-EUR Bench.
1800
| Ann. Return | 4.5% | 4.0% |
| --- | --- | --- |
| Volatility | 16.9% | 13.8% |
| Sharpe Ratio | 0.27 | 0.29 |
| Max. Drawd. | -39.5% | -38.1% |
| Beta | 1.04 |  |
| Track. Err. | 8.9% |  |
| Info. Ratio | 0.05 |  |

1600
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1000
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400
|  | Jan. | Feb. | Mar. | April | May | June | July | Aug. | Sept. | Oct. | Nov. | Dec. | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2016 | Fund | -5.88% | 0.16% | 5.52% | -0.84% | 2.28% | -2.93% | 5.01% | -0.37% | 0.53% | -2.95% | 3.13% | 1.82% | 4.98% |
| Bench. | -6.55% | 0.35% | 9.67% | 2.21% | -2.07% | -0.19% | 5.22% | 0.20% | 0.76% | -1.36% | -1.25% | 1.29% | 7.71% |
| 2017 | Fund | 2.27% | 4.82% | 0.80% | 1.42% | 1.26% | -0.08% | 2.74% | 0.33% | 1.79% | 2.75% | 0.90% | 0.96% | 21.77% |
| Bench. | 3.61% | 2.45% | 1.49% | 1.74% | 2.27% | 0.42% | 2.94% | 0.33% | 0.89% | 1.57% | 1.21% | 2.76% | 23.90% |
| 2018 | Fund | 4.32% | -3.20% | -2.44% | -0.77% | 1.65% | -2.48% | 1.80% | 1.27% | -1.63% | -9.16% | 0.43% | -8.73% | -18.18% |
| Bench. | 5.04% | -4.39% | -1.80% | 0.69% | -1.65% | -3.12% | 1.67% | -1.56% | -0.04% | -8.52% | 2.25% | -5.30% | -16.15% |
| 2019 | Fund | 7.91% | 3.25% | 0.08% | 3.01% | -6.12% | 6.39% | -0.40% | -3.94% | 1.70% | 3.19% | 2.86% | 3.40% | 22.53% |
| Bench. | 7.65% | 2.76% | 0.52% | 1.57% | -6.38% | 5.47% | -1.12% | -4.01% | 2.22% | 2.98% | 0.79% | 4.58% | 17.44% |
| 2020 | Fund | -2.35% | -7.76% | -16.15% | 11.75% | 5.58% | 4.24% | 6.52% | 4.40% | -3.68% | -3.37% | 11.53% | 5.57% | 13.20% |
| Bench. | -2.97% | -7.15% | -15.95% | 9.56% | 3.08% | 4.10% | 5.64% | 3.96% | -2.83% | -1.27% | 13.08% | 5.15% | 11.52% |
| 2021 | Fund | -0.43% | 3.54% | 3.95% | 4.11% | 2.14% | -0.15% | 1.13% | 1.60% | -5.68% | 3.64% | -0.81% | 5.19% | 19.24% |
| Bench. | -0.33% | 2.29% | 1.61% | 3.22% | 2.72% | -0.01% | -1.71% | 2.90% | -2.93% | 1.41% | -3.31% | 3.04% | 8.95% |
| 2022 | Fund | -6.80% | -3.09% | 0.57% | -7.55% | 0.62% | -10.90% | 7.73% | -4.50% |  |  |  |  | -22.54% |
| Bench. | -5.20% | -0.09% | -1.38% | -7.53% | 0.90% | -5.97% | 2.44% | -2.93% |  |  |  |  | -18.51% |

31/12/2015 31/12/2016 31/12/2017 31/12/2018 31/12/2019 31/12/2020 31/12/2021
Registration
CH, UK, AT, DE, SE
Legal Form	SICAV / UCITS
Fund Admin.	SS&C
Custodian	BNY Mellon
Auditor	KPMG Sub./Red. Freq.	Daily
Cut-off	T - 1 12:00 CET
Settlement Date  T + 2 Subs./T + 3 Reds.

## Available share classes
Instit. (I)
Private (P)

Translation (ENFR, 2022-08-31):
# Objectifs d’investissement et stratégie
Rendement espéré faible	Rendement espéré élevé
1	2	3	4	5	6	7
Risque de perte en capital

## Points clés
Stratégie	Actions
Région	Monde
Benchmark	MSCI ACWI Equal Weighted
Index (M1WDEWGT)**
Devise de réf.	USD
VIA Smart-Equity World est un fonds UCITS systématique fondamental global. La stratégie sélectionne des entreprises liquides issues de pays développés ou émergents qui ont le meilleur profil de création de valeur du point de vue de l’actionnaire en offrant à la fois offrant à la fois : une forte rentabilité, de bonnes perspectives et un niveau d’évaluation relativement attractif. Afin de mieux rendre compte de la réalité économique de ces sociétés, leurs fondamentaux sont analysés à l’aide de données comptables normalisées. Le portefeuille est revu mensuellement pour assurer assez de réactivité – mais seulement par fraction afin de limiter tout risque lié au timing. La réplication de la stratégie est majoritairement effectuée via l’achat d’actions, mais le fonds est aussi susceptible d’utiliser des produits dérivés afin de stabiliser sa performance et de réduire son profil de risque.
Performance cumulée & statistiques 
(part I EUR)*
1800
Lancement	24/03/2016 Nb de positions	252
AuM (USD)	73.4 M
Morningstar™ Sustainalytics™
| Gérant | Veritas Investment Associates (VIA AM) |
| --- | --- |
| Société de gestion | Eric Sturdza Management Company SA |
| Domicile | Luxembourg |
| Enregistrement | LU, IT (Instit. EUR), FR, CH, UK, AT, DE, SE |
| Forme juridique | SICAV / UCITS |
| Valorisateur | SS&C |
| Dépositaire | BNY Mellon |
| Auditeur | KPMG |
| Liquidité | Quotidienne |
| Cut-off | T - 1 12:00 CET |
| Règl./Livraison | T + 2 Sous./T + 3 Rach. |


## Informations légales
1
1
1
1
|  | Jan. | Fév. | Mar. | Avril | Mai | Juin | Juil. | Août | Sept. | Oct. | Nov. | Déc. | Année |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2016 | Fonds | -5.88% | 0.16% | 5.52% | -0.84% | 2.28% | -2.93% | 5.01% | -0.37% | 0.53% | -2.95% | 3.13% | 1.82% | 4.98% |
| Bench. | -6.55% | 0.35% | 9.67% | 2.21% | -2.07% | -0.19% | 5.22% | 0.20% | 0.76% | -1.36% | -1.25% | 1.29% | 7.71% |
| 2017 | Fonds | 2.27% | 4.82% | 0.80% | 1.42% | 1.26% | -0.08% | 2.74% | 0.33% | 1.79% | 2.75% | 0.90% | 0.96% | 21.77% |
| Bench. | 3.61% | 2.45% | 1.49% | 1.74% | 2.27% | 0.42% | 2.94% | 0.33% | 0.89% | 1.57% | 1.21% | 2.76% | 23.90% |
| 2018 | Fonds | 4.32% | -3.20% | -2.44% | -0.77% | 1.65% | -2.48% | 1.80% | 1.27% | -1.63% | -9.16% | 0.43% | -8.73% | -18.18% |
| Bench. | 5.04% | -4.39% | -1.80% | 0.69% | -1.65% | -3.12% | 1.67% | -1.56% | -0.04% | -8.52% | 2.25% | -5.30% | -16.15% |
| 2019 | Fonds | 7.91% | 3.25% | 0.08% | 3.01% | -6.12% | 6.39% | -0.40% | -3.94% | 1.70% | 3.19% | 2.86% | 3.40% | 22.53% |
| Bench. | 7.65% | 2.76% | 0.52% | 1.57% | -6.38% | 5.47% | -1.12% | -4.01% | 2.22% | 2.98% | 0.79% | 4.58% | 17.44% |
| 2020 | Fonds | -2.35% | -7.76% | -16.15% | 11.75% | 5.58% | 4.24% | 6.52% | 4.40% | -3.68% | -3.37% | 11.53% | 5.57% | 13.20% |
| Bench. | -2.97% | -7.15% | -15.95% | 9.56% | 3.08% | 4.10% | 5.64% | 3.96% | -2.83% | -1.27% | 13.08% | 5.15% | 11.52% |
| 2021 | Fonds | -0.43% | 3.54% | 3.95% | 4.11% | 2.14% | -0.15% | 1.13% | 1.60% | -5.68% | 3.64% | -0.81% | 5.19% | 19.24% |
| Bench. | -0.33% | 2.29% | 1.61% | 3.22% | 2.72% | -0.01% | -1.71% | 2.90% | -2.93% | 1.41% | -3.31% | 3.04% | 8.95% |
| 2022 | Fonds | -6.80% | -3.09% | 0.57% | -7.55% | 0.62% | -10.90% | 7.73% | -4.50% |  |  |  |  | -22.54% |
| Bench. | -5.20% | -0.09% | -1.38% | -7.53% | 0.90% | -5.97% | 2.44% | -2.93% |  |  |  |  | -18.51% |

31/12/2015 31/12/2016 31/12/2017 31/12/2018 31/12/2019 31/12/2020 31/12/2021
I-EUR Bench.
| Perf. Ann. | 4.5% | 4.0% |
| --- | --- | --- |
| Volatilité | 16.9% | 13.8% |
| Sharpe | 0.27 | 0.29 |
| Perte Max. | -39.5% | -38.1% |
| Beta | 1.04 |  |
| Track. Err. | 8.9% |  |
| Ratio d'Info. | 0.05 |  |


## Parts disponibles
|  | Instit. (I) | Private (P) |
| --- | --- | --- |
| Lancement | 27/01/2017 | 14/06/2017 |
| Invest. min. | 0.2M EUR | 1 000 EUR |
| Frais d’entrée (max.) | 0.50% | 0.50% |
| Frais de sortie | 0.00% | 0.00% |
| Frais de gestion | 0.84% | 1.60% |
| Frais de fonct. | 0.22%**** | 0.22%**** |
| Taxe d’abonn. | 0.01% | 0.05% |
| Frais récurrents | 1.07% | 1.67% |
| Comm. de perf. | 10.00% | 10.00% |
| NAV | 1233.51 | 1092.71 |