Arvo Euro Value Fund G Style and theme equity funds
Ar vo Euro Value Fund G St yle and theme equit y funds
Risk class Fund Low risk
High risk
Fund facts Value 31-05-2011 (EUR) 47.22312 ISIN FI0008804158 Distribution of income No Benchmark index Benchmark (Euro Value) Web site www.danskeinvest.fi Launch 28-10-1996 Total assets , million (EUR) 49.87 Base currency EUR Minimum subscription 500 EUR or 30 EUR/month
Subscription fee Redemption fee TER 2010 Management fee
1,00 % / 8 EUR 1,00 % / 8 EUR 2,81 % 1.20 %
Investment policy
Performance 31-05-2011
The Arvo Euro Value Fund is intended for investors who are looking for a value investment solution on the European equity markets that is profitable, professionally managed and well-diversified. The fund is well-suited, as a part of a diversified investment portfolio, to investors who can accept even substantial changes in the value of the fund from time to time. The recommended investment horizon in the fund is more than five years.
Benchmark index
The assets of the Arvo Euro Value Fund are invested in a diversified manner mainly in publicly traded equities issued by value companies listed in the euro zone. Value companies are defined as companies whose market value is low in terms of their price-to-book ratio (P/B ratio). In an Arvo Value investment strategy, companies are arranged in order according to their P/B ratio, and the fund can invest in the equities of the lower half of the list. Other investment criteria include the equity-to-assets ratio, the company’s cash flow and return on equity. The fund will aim to focus on small and medium-sized enterprises, but part of the assets will also be invested in large
Unofficial 50% Dow Jones EURO STOXX® TMI Index and 50% JP Morgan EMU Government Bond Index
Portfolio manager Danske Capital, Sampo Bank plc
Major investments 31-05-2011 Issuer
Key f igures - 1 y 31-05-2011 Volatility (%) Sharpe Tracking error IR Alpha Beta Duration
17.432 1.173 9.76 2.546 9.796 1.555 -
Linde AG Deutsche Bank (Regd.) Leifheit De Longhi Spa Nutreco NV Cie de Saint-Gobain SA BNP Paribas S.A. Deutsche Euroshop AG Nexus AG Repsol YPF S.A. (Regd) Other
%
5.39 % 5.34 % 5.28 % 4.55 % 4.26 % 4.15 % 4.01 % 3.33 % 3.33 % 3.22 % 57.15 %
Performance 31-05-2011 YTD 1 month 3 month 6 month 12 month 36 month Fund 6.85 -1.67 2.12 15.67 19.44 -1.21 Benchmark index 1.87 -1.22 -1.02 4.50 6.60 1.72
Start 6.79 6.93
This Fund Review is not an invitation to subscribe or redeem Fund units. Even though the aim has been to give reliable information, Sampo Bank and Sampo Fund Management Ltd guarantees neither the completeness nor correctness of the information contained in this Fund review nor shall be held liable for any errors or omissions in the information contained therein. Past mutual fund performance is no guarantee of future returns. The return and interest expectations used in the review are not intended to be perceived as promises of future returns or interest. Investment always involves fluctuation in value the value of an investment may either rise or fall and customers are therefore at risk of losing assets invested in a mutual fund. There is no guarantee of actual returns or that the performance of the investment will be in accordance with the expected returns or always positive. Before making an investment decision, customers should always familiarise themselves with the characteristics, expenses and risks of the mutual funds which are outlined in the simplified prospectuses, fund regulations and price list of mutual funds, for example. Funds simplified prospectus and regulations can be found from www.danskeinvest.fi
Ar vo Euro Value Fund G St yle and theme equit y funds
Sector allocation/asset allocation
Portfolio manager review
nConsumer discretionary 32.61%
nFinancials 20.19% nConsumer staples 11.34% nMaterials 8.64% nIndustrials 8.07% nEnergy 5.20% nHealth care 3.33% nOther 10.62%
Country allocation nGermany 32.40% nFrance 21.81% nNetherlands 14.06% nItaly 10.59% nSpain 7.43% nFinland 7.12% nGreece 4.30% nOther 2.29%
Currency nEUR 100.00%
Return
Holding type nStock market 94.08% nOther 5.92%
Return and dividends for individual years
2006
2007
2008
2009
2010
Fund Benchmark index
24.87 11.17
-9.41 4.58
-40.29 -20.78
32.30 16.93
6.36 2.80
This Fund Review is not an invitation to subscribe or redeem Fund units. Even though the aim has been to give reliable information, Sampo Bank and Sampo Fund Management Ltd guarantees neither the completeness nor correctness of the information contained in this Fund review nor shall be held liable for any errors or omissions in the information contained therein. Past mutual fund performance is no guarantee of future returns. The return and interest expectations used in the review are not intended to be perceived as promises of future returns or interest. Investment always involves fluctuation in value the value of an investment may either rise or fall and customers are therefore at risk of losing assets invested in a mutual fund. There is no guarantee of actual returns or that the performance of the investment will be in accordance with the expected returns or always positive. Before making an investment decision, customers should always familiarise themselves with the characteristics, expenses and risks of the mutual funds which are outlined in the simplified prospectuses, fund regulations and price list of mutual funds, for example. Funds
Risk class Fund Low risk
High risk
Fund facts Value 31-05-2011 (EUR) 47.22312 ISIN FI0008804158 Distribution of income No Benchmark index Benchmark (Euro Value) Web site www.danskeinvest.fi Launch 28-10-1996 Total assets , million (EUR) 49.87 Base currency EUR Minimum subscription 500 EUR or 30 EUR/month
Subscription fee Redemption fee TER 2010 Management fee
1,00 % / 8 EUR 1,00 % / 8 EUR 2,81 % 1.20 %
Investment policy
Performance 31-05-2011
The Arvo Euro Value Fund is intended for investors who are looking for a value investment solution on the European equity markets that is profitable, professionally managed and well-diversified. The fund is well-suited, as a part of a diversified investment portfolio, to investors who can accept even substantial changes in the value of the fund from time to time. The recommended investment horizon in the fund is more than five years.
Benchmark index
The assets of the Arvo Euro Value Fund are invested in a diversified manner mainly in publicly traded equities issued by value companies listed in the euro zone. Value companies are defined as companies whose market value is low in terms of their price-to-book ratio (P/B ratio). In an Arvo Value investment strategy, companies are arranged in order according to their P/B ratio, and the fund can invest in the equities of the lower half of the list. Other investment criteria include the equity-to-assets ratio, the company’s cash flow and return on equity. The fund will aim to focus on small and medium-sized enterprises, but part of the assets will also be invested in large
Unofficial 50% Dow Jones EURO STOXX® TMI Index and 50% JP Morgan EMU Government Bond Index
Portfolio manager Danske Capital, Sampo Bank plc
Major investments 31-05-2011 Issuer
Key f igures - 1 y 31-05-2011 Volatility (%) Sharpe Tracking error IR Alpha Beta Duration
17.432 1.173 9.76 2.546 9.796 1.555 -
Linde AG Deutsche Bank (Regd.) Leifheit De Longhi Spa Nutreco NV Cie de Saint-Gobain SA BNP Paribas S.A. Deutsche Euroshop AG Nexus AG Repsol YPF S.A. (Regd) Other
%
5.39 % 5.34 % 5.28 % 4.55 % 4.26 % 4.15 % 4.01 % 3.33 % 3.33 % 3.22 % 57.15 %
Performance 31-05-2011 YTD 1 month 3 month 6 month 12 month 36 month Fund 6.85 -1.67 2.12 15.67 19.44 -1.21 Benchmark index 1.87 -1.22 -1.02 4.50 6.60 1.72
Start 6.79 6.93
This Fund Review is not an invitation to subscribe or redeem Fund units. Even though the aim has been to give reliable information, Sampo Bank and Sampo Fund Management Ltd guarantees neither the completeness nor correctness of the information contained in this Fund review nor shall be held liable for any errors or omissions in the information contained therein. Past mutual fund performance is no guarantee of future returns. The return and interest expectations used in the review are not intended to be perceived as promises of future returns or interest. Investment always involves fluctuation in value the value of an investment may either rise or fall and customers are therefore at risk of losing assets invested in a mutual fund. There is no guarantee of actual returns or that the performance of the investment will be in accordance with the expected returns or always positive. Before making an investment decision, customers should always familiarise themselves with the characteristics, expenses and risks of the mutual funds which are outlined in the simplified prospectuses, fund regulations and price list of mutual funds, for example. Funds simplified prospectus and regulations can be found from www.danskeinvest.fi
Ar vo Euro Value Fund G St yle and theme equit y funds
Sector allocation/asset allocation
Portfolio manager review
nConsumer discretionary 32.61%
nFinancials 20.19% nConsumer staples 11.34% nMaterials 8.64% nIndustrials 8.07% nEnergy 5.20% nHealth care 3.33% nOther 10.62%
Country allocation nGermany 32.40% nFrance 21.81% nNetherlands 14.06% nItaly 10.59% nSpain 7.43% nFinland 7.12% nGreece 4.30% nOther 2.29%
Currency nEUR 100.00%
Return
Holding type nStock market 94.08% nOther 5.92%
Return and dividends for individual years
2006
2007
2008
2009
2010
Fund Benchmark index
24.87 11.17
-9.41 4.58
-40.29 -20.78
32.30 16.93
6.36 2.80
This Fund Review is not an invitation to subscribe or redeem Fund units. Even though the aim has been to give reliable information, Sampo Bank and Sampo Fund Management Ltd guarantees neither the completeness nor correctness of the information contained in this Fund review nor shall be held liable for any errors or omissions in the information contained therein. Past mutual fund performance is no guarantee of future returns. The return and interest expectations used in the review are not intended to be perceived as promises of future returns or interest. Investment always involves fluctuation in value the value of an investment may either rise or fall and customers are therefore at risk of losing assets invested in a mutual fund. There is no guarantee of actual returns or that the performance of the investment will be in accordance with the expected returns or always positive. Before making an investment decision, customers should always familiarise themselves with the characteristics, expenses and risks of the mutual funds which are outlined in the simplified prospectuses, fund regulations and price list of mutual funds, for example. Funds
