# HIGHLIGHTS
LO Funds - Europe High Conviction is an actively long-only European equity strategy launched in November 2010. It invests in leading European companies that can deliver sustainable profits and growth. It seeks to outperform the MSCI Europe ND index over the long term. The research-intensive investment process is focused on stock selection and each investment must fit into one of the three investment buckets that we describe as corporate event opportunities, high quality and high growth companies. The portfolio is concentrated on circa 30 to 40 stocks with a large-cap bias; positions are equally weighted where possible. This allows the Fund to navigate through diverse economic and market cycles. Risk management starts with the fund managers assessing 12 risk factors at portfolio level. In parallel, our independent risk team manage investment risks and monitor operational risks.
NET PERFORMANCE AND ANNUAL PERFORMANCE IN USD 

### Dec 31, 2015 - Jul 31, 2021
175
| Currency of Fund Currency of share class | EUR USD Hedged |
| --- | --- |
| Fund manager | C. Marquaire, P. Dionisio |
| Net assets (all classes) Liquidity (sub./red.) | USD 1.44 bn Daily, 12:00 |
| Min. investment | EUR 3'000 or equivalent |


### Management fee	0.825%

### Distribution fee	0.00%

### FROC	0.35%

### Performance fee	15% of outperf. vs MSCI Europe ND TER max (31 March 2021)	1.18%
150
125
100
-1.10%
3.64%
20.02%
11.82%
-8.79%
-8.19%
29.41% 29.53%
6.30%
-1.53%
18.38% 17.91%
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |


## RISK AND REWARD PROFILE
75 
2016	2017	2018	2019	2020	2021
LO Funds - Europe High Conviction, Syst. NAV Hdg, (USD) M A / D	Annual or YTD performance (Fund) MSCI Europe EUR ND (USD Cross Hdg.)	Annual or YTD performance (Bench.)

### Value of investments is variable and can go down as well as up.
| Low |  | High |
| --- | --- | --- |
| CODES | Class A | Class D |
| ISIN | LU0996289871 | LU0996289954 |
| Bloomberg | LEHSHUM LX | LOEHUMD LX |
| NAV | USD 23.11 | USD 22.72 |

Cumulative	Annualized
| NET PERFORMANCE IN USD | Fund | Bench. |  |  | Fund | Bench. |
| --- | --- | --- | --- | --- | --- | --- |
| YTD | 18.38% | 17.91% |  |  | - | - |
| 1 month | 2.82% | 1.92% |  |  | - | - |
| 3 months | 7.22% | 6.45% |  |  | - | - |
| 1 year | 29.72% | 33.71% |  |  | - | - |
| 3 years | 42.66% | 32.72% |  |  | 12.51% | 9.84% |
| 5 years | 77.73% | 65.58% |  |  | 12.13% | 10.56% |
| Total return (since 29.11.2013) | 131.09% | 85.92% |  |  | 11.50% | 8.39% |
| STATISTICS  31.07.2016 - 31.07.2021 | Fund | Bench. |  |  |  | Fund |
| Annualised volatility | 12.81% | 13.95% |  | Number of positions |  | 39 |
| Sharpe ratio | 0.84 | 0.66 |  |  |  |  |
| Max. drawdown | -18.04% | -22.00% |  |  |  |  |
| Correlation |  | 0.928 |  |  |  |  |
| Tracking error |  | 5.19% |  |  |  |  |


## FISCAL INFORMATION

### Last dividend paid (27.11.2019)	USD 0.13

Translation (ENFR, 2021-07-31):
# POINTS CLÉS
LO Funds - Europe High Conviction est une stratégie long-only à gestion active axée sur les actions européennes et lancée novembre 2010. Le Fonds investit dans des sociétés européennes affichant des perspectives de croissance des bénéfices soutenable. Il vise à générer une performance supérieure à l'indice MSCI Europe ND sur le long terme. La recherche est au cœur du processus de sélection de valeurs. Le Fonds n’investit que dans des sociétés catégorisées dans l’une des trois poches d’investissement définies comme suit: opportunités liées à des changements stratégiques, sociétés de grande qualité et sociétés à forte croissance. Le portefeuille comprend environ 30 à 40 actions et est orienté vers les grandes capitalisations; les positions sont équipondérées dans la mesure du possible. La gestion du risque est assurée par les gérants au niveau du portefeuille, et des équipes indépendantes gèrent les risques d’investissement et contrôlent les risques opérationnels.
PERFORMANCE NETTE ET PERFORMANCE ANNUELLE EN USD 

### 31 déc. 2015 - 31 juil. 2021
175

### Inv. minimum	EUR 3'000 ou équivalent Commission de gestion		0.825%

### Commission de distribution	0.00%

### FROC	0.35%

### Commission de performance	15% sur-perf. vs MSCI

### Europe ND

### TER max (31 mars 2021)	1.18%
150
125
100
-1.10%
3.64%
20.02%
11.82%
-8.79%
-8.19%
29.41% 29.53%
6.30%
-1.53%
18.38% 17.91%
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |


## PROFIL DE RISQUE
75 
2016	2017	2018	2019	2020	2021
LO Funds - Europe High Conviction, Syst. NAV Hdg, (USD) M A / D	Performance annuelle ou Année en cours (Fonds) MSCI Europe EUR ND (USD Cross Hdg.)	Performance annuelle ou Année en cours (Indice)

### La valeur des investissements est variable et peut diminuer aussi bien qu’augmenter.
| Faible |  | Elevé |
| --- | --- | --- |
| CODES | Classe A | Classe D |
| ISIN | LU0996289871 | LU0996289954 |
| Bloomberg | LEHSHUM LX | LOEHUMD LX |
| Valeur Liquidative | USD 23.11 | USD 22.72 |

Cumulée	Annualisée
| PERFORMANCE NETTE EN USD | Fonds | Indice |  |  | Fonds | Indice |
| --- | --- | --- | --- | --- | --- | --- |
| Année en cours | 18.38% | 17.91% |  |  | - | - |
| 1 mois | 2.82% | 1.92% |  |  | - | - |
| 3 mois | 7.22% | 6.45% |  |  | - | - |
| 1 an | 29.72% | 33.71% |  |  | - | - |
| 3 ans | 42.66% | 32.72% |  |  | 12.51% | 9.84% |
| 5 ans | 77.73% | 65.58% |  |  | 12.13% | 10.56% |
| Perf. totale (depuis 29.11.2013) | 131.09% | 85.92% |  |  | 11.50% | 8.39% |
| STATISTIQUES  31.07.2016 - 31.07.2021 | Fonds | Indice |  |  |  | Fonds |
| Volat. annualisée | 12.81% | 13.95% |  | Nombre de positions |  | 39 |
| Ratio de Sharpe | 0.84 | 0.66 |  |  |  |  |
| Baisse maximum | -18.04% | -22.00% |  |  |  |  |
| Corrélation |  | 0.928 |  |  |  |  |
| Tracking Error |  | 5.19% |  |  |  |  |


## INFORMATION FISCALE

### Dernier dividende (27.11.2019)	USD 0.13