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04/19/2005 (closing date)
Currency : EUR
World | Country | Sector
 
 
NAV as of 04/19/2005 : 357.93 EUR
Funds size : € 3.57 mios (03/31/2005)
Inception : February 28, 2001
Index : MSCI World Finance in €


Commentary

The fund aims to invest in the Financials sector on a global basis. The investment focus will be banks, insurance companies and financial services on a world-wide basis. However the majority of investments typically will be in banks, which represents over 50% of the financials sector. The investment philosophy is based on selective, bottom-up research.  
 
 
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 MSCI World Finance in €
  
Statistics
Period : 02/28/2001 to 04/19/2005
Fund   Index
Total return -28.41%   -10.23%
Annual compound return -7.76%   -2.02%
Monthly std deviation * 17.58%   17.67%
Best Month * 9.07%   10.49%
Worst Month * -12.52%   -14.19%
Largest drawdown * -48.80%   -47.30%
Sharpe ratio * -0.73   -0.4
 
* based on month end NAV's
 
Performance Table (%)
Fund Index Fund Index
2001* -3.13 -9.11 MTD -2.34 -5.34
2002 -32.06 -30.49 YTD -2.47 -5.34
2003 7.74 13.30 1 yr** -5.44 24.56
2004 3.52 6.38 3 yrs** -25.70 50.13
5 yrs** NA NA

** based on month end NAV'S

Fund launched @ € 500 on Feb. 28, 01

Ten Largest Holdings
% holdings
1. Westpac banking corp. 3.98
2. St. george bank 1.36
3. United overseas bank ltd - uob 0.78
     
Sector Breakdown (largest sectors)
(03/31/2005)             % of equity
Geographic Breakdown (largest areas)
% of equity
Memento
SICAV – Luxembourg (conforms to UCITS Directive EC 85/611) | Investment Advisor : Bearbull Asset Management | Depository/Registrar/Transfer Agent : Banque Degroof Luxembourg | Daily NAV calculated on closing of preceding working day
ISIN Number : LU0123799354 | Telekurs : 1184466 | Sicovam : 504102

Contact                      
Michel Demoulin | T + 32 (0) 2 373 00 20 | michel.demoulin@bearbull.be
Bearbull (Belgium) S.A. | Chaussée de Waterloo 880 - B - 1000 Brussels

Reports and Daily NAV's are available on internet : www.bearbull.com and on Bloomberg : BBBB