DNCA Finance is an funds management company created in 2000 by specialists in a patrimonial approach of management. With the passing of years, the founders gathered around this philosophy a team of funds managers experienced and recognized to develop a range of funds simple, readable and powerful. Following their success and in the idea to develop in Europe, the teams of DNCA Finance tied in 2006 a partnership with Gruppo Banca Leonardo.
PHILOSOPHY
Leonardo MIURA is a diversified Long/Short Equities fund which is part of the Leonardo INVEST Sicav. This fund only operates on large- and medium-cap companies in Western Europe and its strategy is based on a fundamental financial analysis. Knowledge of companies and their valuations is at the heart of its investment decisions. Gross exposure (Long + Short) is set at 200% and the management team uses neither leverage nor complex derivatives. With a limited net exposure of +/- 20% of the assets under management, the fund is not largely dependent on equity markets. Its performance is based essentially on the managers' ability to make the appropriate 'long' choices (purchase of an equity with a view to benefiting from a potential upturn) as well as good 'short' choices (sale of an equity via CFD contracts with a view to benefiting from a potential downturn).
OBJECTIVES
The objective is to achieve better performance than the no-risk rate, represented by the EONIA, regardless of the direction of the equities market. This performance is sought by linking it to volatility which is below that found on the equities market, represented by the EUROSTOXX 50 index.
ASSET CLASSES
The Sub-Fund may at any time invest in:
- European shares (European area as defined hereinbefore) or equivalent financial instruments (such as ETF, futures, CFD, etc.): from 0 to 100% of its net assets;
- money-market instruments or deposits: from 0 to 100% of its net assets;
- in other financial instruments up to 10%.
The Sub-Fund may invest up to 10% of its net assets in UCITS.
The Sub-fund will invest at all times in:
- European equities or equivalent financial instruments (such as ETFs): 0 - 100%;
- CFDs – Index-linked futures: 0 - 100%;
- monetary products: 0 - 100%.
TARGET
All investors, in particular investors seeking absolute performance with managed volatility. Exposure to the equities market though with limited directional risk.
