2020 was a turbulent year full of surprises: pandemic, lockdowns, government stimulus, record-breaking vaccine discoveries and the most controversial US presidential elections of modern time. Yet, in a year full of disruption, it can be argued that the most pleasant surprise was the scale of the rebound in global markets. Who could have predicted this during the market plunge in March! The investors that remained focused on their investment horizon and maintained their investment discipline, have been handsomely rewarded.
Here are the main Ancoria Fund highlights of the last quarter of the year.
Global Growth Fund
Our best performing fund for the year. It recorded a performance of 26.7% in EUR for 2020. The fund aims to achieve long-term capital growth by investing in sectors with high growth potential. Such sectors include but are not limited to technology, alternative energy, water, infrastructure and bio-technology. The fund benefited from the overperformance of these sectors in a year during which the pandemic caused major disruptions to more traditional sectors of the economy.
Asia Consumer Fund
Τhe fund closed the year with a strong positive performance of 16.2% in EUR. The fund aims to generate long-term capital growth by investing in equities and equity funds of developed and emerging Asia excluding Japan economies, in the consumer discretionary, consumer staples and telecommunication sectors. The fund may also invest in companies established or located in countries outside of Asia but carrying out their business activities predominantly in Asia. The fund benefited from the fast exit of China and other Asian countries from the pandemic and the consistently high growth of these economies.
Ancoria 5-Year Autocall 6.75% Fund - Autocalled
This structured fund was autocalled on the 30th of November 2020, only one year after its start date and provided a 6.25% net return to its investors. The Structured Fund was autocalled as the OMX Stockholm 30 Index closed on the observation date at 1,917.542, well above the initial strike level of 1,730.254.
Ancoria 5-Year SEK Autocall 5.25% Fund - Launched
This structured fund was launched in December to replace the Ancoria 5-Year SEK Autocall 6.75% fund, which was autocalled in November, and aims to give policyholders the opportunity to earn an attractive gross return of 5.25% per annum with a yearly early redemption feature. The Fund invests in structured notes issued and guaranteed by five different highly ranked financial institutions.