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Investors’ risk appetite persists

Eric Vanraes examines investors’ preference in H1 2020 for equities and high-risk bonds; at the expense of long dates US Government bonds.

USD Super Inst Acc – Sturdza Family Fund

An active and flexible investment process, managing a mixed asset investment portfolio predominantly comprised of equities and fixed income investments. Investing directly or indirectly, up to 80% and a minimum of 51%, in global equities or equity related instruments and between 20-49% in fixed income instruments. Focusing on strong growth companies that the Investment Adviser deem to be under appreciated by the market, whilst fixed income investments will be selected based on global macro economic analysis and evaluation of central banks’ policies.

USD Inst Acc – Sturdza Family Fund

An active and flexible investment process, managing a mixed asset investment portfolio predominantly comprised of equities and fixed income investments. Investing directly or indirectly, up to 80% and a minimum of 51%, in global equities or equity related instruments and between 20-49% in fixed income instruments. Focusing on strong growth companies that the Investment Adviser deem to be underappreciated by the market, whilst fixed income investments will be selected based on global macro economic analysis and evaluation of central banks’ policies.

EUR H Acc – Sturdza Family Fund

An active and flexible investment process, managing a mixed asset investment portfolio predominantly comprised of equities and fixed income investments. Investing directly or indirectly, up to 80% and a minimum of 51%, in global equities or equity related instruments and between 20-49% in fixed income instruments. Focusing on strong growth companies that the Investment Adviser deem to be under appreciated by the market, whilst fixed income investments will be selected based on global macro economic analysis and evaluation of central banks’ policies.

EUR H Inst Acc – Sturdza Family Fund

An active and flexible investment process, managing a mixed asset investment portfolio predominantly comprised of equities and fixed income investments. Investing directly or indirectly, up to 80% and a minimum of 51%, in global equities or equity related instruments and between 20-49% in fixed income instruments. Focusing on strong growth companies that the Investment Adviser deem to be under appreciated by the market, whilst fixed income investments will be selected based on global macro economic analysis and evaluation of central banks’ policies.

USD Prof Acc – Sturdza Family Fund

An active and flexible investment process, managing a mixed asset investment portfolio predominantly comprised of equities and fixed income investments. Investing directly or indirectly, up to 80% and a minimum of 51%, in global equities or equity related instruments and between 20-49% in fixed income instruments. Focusing on strong growth companies that the Investment Adviser deem to be under appreciated by the market, whilst fixed income investments will be selected based on global macro economic analysis and evaluation of central banks’ policies.

EUR H Super I Acc – Sturdza Family Fund

CHF H I Acc – Sturdza Family Fund

JPY Prof – Japan Opportunities Fund

The portfolio management team seeks to invest in companies with consistent revenue/profit growth and strong management regardless of size, history, brand or market capitalisation in the Japanese market.

JPY Inst – Japan Opportunities Fund

The portfolio management team seeks to invest in companies with consistent revenue/profit growth and strong management regardless of size, history, brand or market capitalisation in the Japanese market.

USD H Prof – Japan Opportunities Fund

The portfolio management team seeks to invest in companies with consistent revenue/profit growth and strong management regardless of size, history, brand or market capitalisation in the Japanese market.

USD H Inst – Japan Opportunities Fund

The portfolio management team seeks to invest in companies with consistent revenue/profit growth and strong management regardless of size, history, brand or market capitalisation in the Japanese market.

CHF H Acc – Sturdza Family Fund

An active and flexible investment process, managing a mixed asset investment portfolio predominantly comprised of equities and fixed income investments. Investing directly or indirectly, up to 80% and a minimum of 51%, in global equities or equity related instruments and between 20-49% in fixed income instruments. Focusing on strong growth companies that the Investment Adviser deem to be under appreciated by the market, whilst fixed income investments will be selected based on global macro economic analysis and evaluation of central banks’ policies.

EUR H Inst – Global Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

USD Prof – Global Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

USD Inst Acc – Global Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

EUR H Prof – Japan Opportunities Fund

The portfolio management team seeks to invest in companies with consistent revenue/profit growth and strong management regardless of size, history, brand or market capitalisation in the Japanese market.

EUR H Inst – Japan Opportunities Fund

The portfolio management team seeks to invest in companies with consistent revenue/profit growth and strong management regardless of size, history, brand or market capitalisation in the Japanese market.

CHF H Prof – European Smaller Companies Fund

The Fund’s competitive advantage and its key differentiator between it and its peers is the ability to focus on target companies from every angle and leverage the network of relationships and corporate access provided by a number of stakeholders, including founding partners to provide a real understanding of the market share and performance of the investee companies that results in the totality of the investment research being generated internally.

EUR Prof – European Smaller Companies Fund

The Fund’s competitive advantage and its key differentiator between it and its peers is the ability to focus on target companies from every angle and leverage the network of relationships and corporate access provided by a number of stakeholders, including founding partners to provide a real understanding of the market share and performance of the investee companies that results in the totality of the investment research being generated internally.

EUR Inst – European Smaller Companies Fund

The Fund’s competitive advantage and its key differentiator between it and its peers is the ability to focus on target companies from every angle and leverage the network of relationships and corporate access provided by a number of stakeholders, including founding partners to provide a real understanding of the market share and performance of the investee companies that results in the totality of the investment research being generated internally.

CHF H Prof – Global Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

EUR H Prof – Global Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

GBP H Inst – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

EUR Inst Dist – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

USD H Inst – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

USD H Prof – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

USD H Super Inst – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

EUR Prof – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

EUR Inst – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

EUR Retail – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

EUR SP – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

EUR Super Inst – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

GBP H Prof – China Panda Fund

Access to the Chinese growth story through one of the leading Portfolio Managers in the region. Stock selection and net exposure are adjusted to take advantage of an insider’s view of the Chinese business cycle. Invested predominantly in China stocks listed in major markets like HK, China (A/B shares) and U.S. (ADRs), offering investors greater liquidity and transparency over other forms of investments in China.

USD Prof – China Panda Fund

Access to the Chinese growth story through one of the leading Portfolio Managers in the region. Stock selection and net exposure are adjusted to take advantage of an insider’s view of the Chinese business cycle. Invested predominantly in China stocks listed in major markets like HK, China (A/B shares) and U.S. (ADRs), offering investors greater liquidity and transparency over other forms of investments in China.

USD Inst – China Panda Fund

Access to the Chinese growth story through one of the leading Portfolio Managers in the region. Stock selection and net exposure are adjusted to take advantage of an insider’s view of the Chinese business cycle. Invested predominantly in China stocks listed in major markets like HK, China (A/B shares) and U.S. (ADRs), offering investors greater liquidity and transparency over other forms of investments in China.

CHF H Prof – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

CHF H Inst – Europe Quality Fund

A valuation driven investment approach aiming to buy high-quality businesses at discounted prices. Quality being defined as companies which are market leaders, benefit from long-term structural growth, have high margins and low capital intensity. The Fund has a structural bias towards consumer, healthcare, IT and generally avoids high cost of capital sectors such as insurers, utilities and the oil and gas majors.

CHF H Prof – China Panda Fund

Access to the Chinese growth story through one of the leading Portfolio Managers in the region. Stock selection and net exposure are adjusted to take advantage of an insider’s view of the Chinese business cycle. Invested predominantly in China stocks listed in major markets like HK, China (A/B shares) and U.S. (ADRs), offering investors greater liquidity and transparency over other forms of investments in China.

EUR H Inst – China Panda Fund

Access to the Chinese growth story through one of the leading Portfolio Managers in the region. Stock selection and net exposure are adjusted to take advantage of an insider’s view of the Chinese business cycle. Invested predominantly in China stocks listed in major markets like HK, China (A/B shares) and U.S. (ADRs), offering investors greater liquidity and transparency over other forms of investments in China.

EUR H Prof – China Panda Fund

Access to the Chinese growth story through one of the leading Portfolio Managers in the region. Stock selection and net exposure are adjusted to take advantage of an insider’s view of the Chinese business cycle. Invested predominantly in China stocks listed in major markets like HK, China (A/B shares) and U.S. (ADRs), offering investors greater liquidity and transparency over other forms of investments in China.

EUR H Retail – China Panda Fund

Access to the Chinese growth story through one of the leading Portfolio Managers in the region. Stock selection and net exposure are adjusted to take advantage of an insider’s view of the Chinese business cycle. Invested predominantly in China stocks listed in major markets like HK, China (A/B shares) and U.S. (ADRs), offering investors greater liquidity and transparency over other forms of investments in China.

CHF H Inst – China Panda Fund

Access to the Chinese growth story through one of the leading Portfolio Managers in the region. Stock selection and net exposure are adjusted to take advantage of an insider’s view of the Chinese business cycle. Invested predominantly in China stocks listed in major markets like HK, China (A/B shares) and U.S. (ADRs), offering investors greater liquidity and transparency over other forms of investments in China.

EUR H Acc – Bond Opportunities Fund

The Fund is a diversified bond fund, investing in bonds predominantly denominated in USD, including Sovereigns, Supranationals and Agencies (together SSAs), corporate bonds across all sectors and financials. A strong conviction portfolio of 30-60 issuers, seeking exposure to all continents (including developed as well as emerging markets), all types of ratings from AAA/Aaa to BB/Ba2 (Standard & Poor’s/Moody’s) and non-rated bonds (10% maximum), senior or subordinated debt (hybrid corporates and Tier II bank debt) with either fixed or floating coupon rates.

EUR H Dist – Bond Opportunities Fund

The Fund is a diversified bond fund, investing in bonds predominantly denominated in USD, including Sovereigns, Supranationals and Agencies (together SSAs), corporate bonds across all sectors and financials. A strong conviction portfolio of 30-60 issuers, seeking exposure to all continents (including developed as well as emerging markets), all types of ratings from AAA/Aaa to BB/Ba2 (Standard & Poor’s/Moody’s) and non-rated bonds (10% maximum), senior or subordinated debt (hybrid corporates and Tier II bank debt) with either fixed or floating coupon rates.

EUR H Inst Acc – Bond Opportunities Fund

The Fund is a diversified bond fund, investing in bonds predominantly denominated in USD, including Sovereigns, Supranationals and Agencies (together SSAs), corporate bonds across all sectors and financials. A strong conviction portfolio of 30-60 issuers, seeking exposure to all continents (including developed as well as emerging markets), all types of ratings from AAA/Aaa to BB/Ba2 (Standard & Poor’s/Moody’s) and non-rated bonds (10% maximum), senior or subordinated debt (hybrid corporates and Tier II bank debt) with either fixed or floating coupon rates.

USD Inst Acc – Bond Opportunities Fund

The Fund is a diversified bond fund, investing in bonds predominantly denominated in USD, including Sovereigns, Supranationals and Agencies (together SSAs), corporate bonds across all sectors and financials. A strong conviction portfolio of 30-60 issuers, seeking exposure to all continents (including developed as well as emerging markets), all types of ratings from AAA/Aaa to BB/Ba2 (Standard & Poor’s/Moody’s) and non-rated bonds (10% maximum), senior or subordinated debt (hybrid corporates and Tier II bank debt) with either fixed or floating coupon rates.

USD Prof Acc – Bond Opportunities Fund

The Fund is a diversified bond fund, investing in bonds predominantly denominated in USD, including Sovereigns, Supranationals and Agencies (together SSAs), corporate bonds across all sectors and financials. A strong conviction portfolio of 30-60 issuers, seeking exposure to all continents (including developed as well as emerging markets), all types of ratings from AAA/Aaa to BB/Ba2 (Standard & Poor’s/Moody’s) and non-rated bonds (10% maximum), senior or subordinated debt (hybrid corporates and Tier II bank debt) with either fixed or floating coupon rates.

EUR H Prof – Nippon Growth UCITS Fund

Access to Mr. Yutaka Uda’s 40 years’ investment experience in Japanese equities. Portfolio construction combines the long term macroeconomic view of the Investment Adviser with a bottom up perspective of stock research based on fundamental analysis.

EUR H Inst – Nippon Growth UCITS Fund

Access to Mr. Yutaka Uda’s 40 years’ investment experience in Japanese equities. Portfolio construction combines the long term macroeconomic view of the Investment Adviser with a bottom up perspective of stock research based on fundamental analysis.

JPY A Prof – Nippon Growth UCITS Fund

Access to Mr. Yutaka Uda’s 40 years’ investment experience in Japanese equities. Portfolio construction combines the long term macroeconomic view of the Investment Adviser with a bottom up perspective of stock research based on fundamental analysis.

JPY B Prof – Nippon Growth UCITS Fund

Access to Mr. Yutaka Uda’s 40 years’ investment experience in Japanese equities. Portfolio construction combines the long term macroeconomic view of the Investment Adviser with a bottom up perspective of stock research based on fundamental analysis.

CHF H Acc – Bond Opportunities Fund

The Fund is a diversified bond fund, investing in bonds predominantly denominated in USD, including Sovereigns, Supranationals and Agencies (together SSAs), corporate bonds across all sectors and financials. A strong conviction portfolio of 30-60 issuers, seeking exposure to all continents (including developed as well as emerging markets), all types of ratings from AAA/Aaa to BB/Ba2 (Standard & Poor’s/Moody’s) and non-rated bonds (10% maximum), senior or subordinated debt (hybrid corporates and Tier II bank debt) with either fixed or floating coupon rates.

European stocks turning bullish

Bertrand Faure reflects on the impact of the H1 2020 crisis and investor optimism now that lockdown measures are easing.

A bright future for most bonds… but not all!

Eric Vanraes provides insight on his assessment of the major influencers of fixed income markets today and how he reflects these in his three step investment process.

Equity markets continue to rebound

Willem Vinke continues to exercise caution whilst the true economic impact of COVID-19 remains unclear.

China’s resilient domestic consumption amidst macro headwinds

Lilian Co discusses China’s evolving macro environment whilst highlighting the resilience being exhibited by China’s consumer and real estate sectors.

Investments with steady growth during this longer period of monetary easing is the best mix

Yutaka Uda’s outlook is positive as Japan’s state of emergency is lifted.

Relative results outweigh absolute figures

Eric Sturdza discusses the positives of a post COVID-19 economy.

TIPS and hybrids, a relevant barbell

Eric Vanraes examines the impact of the dramatic market rally and the affect this has had on TIPS.

Outsized Gains

Bertrand Faure reflects on performance since inception as the Fund marks its 5th anniversary and discusses the potential factors that could influence returns in the months to come.

Webinar – Fundamental trading throughout the Pandemic

Bertrand Faure provides his views on “the most hated rally in history”, in which stock markets climbed in the midst of a devastating health and economic crisis.

Japan market recovers as lockdown is eased

Mitsuhiro Yuasa comments on the post-pandemic new way of life, with a focus on which industries may become more relevant to the adjusted lifestyle.

Sturdza Family Fund: Objective, Philosophy & Risk Management

The team provide insight on the Fund’s primary objective and philosophy, market timing, equity & fixed income selection process, volatility and how risk is managed.

Sturdza Family Fund: Overview of the Team

Eric Sturdza discusses the qualities that the team of the Sturdza Family Fund possess and each member provides an introduction explaining their role within the Fund.

Pascal Perrone

Pascal Perrone is senior portfolio manager of fixed income investments within the Sturdza Private Banking Group, where he has been employed since February 2013. Pascal is currently Deputy Fund Manager and has worked in fixed income investing since 1999.

David Haynal

David Haynal is a graduate of the University of St. Gallen where he earned both a Bachelors Degree in Economics and in Business Administration. After training in Equity Derivatives at UBS Investment Bank (Zurich), he worked for two years at Geneva-based HBK Investments Advisory, focusing on their in-house portfolio strategies. He joined Banque Eric Sturdza in 2012. David is a CFA charterholder.

The Sturdza Family Fund – An Introduction

Eric and Constantin Sturdza provide an introduction to the Sturdza Family Fund in this video interview.

Investor anxiety calmed by stimulus measures

Lilian Co discusses Hong Kong’s relief measures and the dependence of a 2H recovery on the re-opening of economies in Europe and the US.

Oil market stabilising with global economy to recover from 3Q 2020

Yutaka Uda comments on the spread of infection, believing the worst to be over for Japan, as the state of emergency is relaxed across most of the country.

Stocks becoming too expensive

Bertrand Faure reflects on April’s rally and debates whether stock markets are a future pricing tool rather than a reflection of the economy.

A cautious approach

Willem Vinke on monitoring the economic impact and maintaining a cautious approach with a focus on quality.

Japan’s resilient industries

Mitsuhiro Yuasa explores opportunities in industries that he believes will benefit from local demand, and envisages that exporters will be supported by the stability of the USD.

Markets rebound on global governments’ “whatever it takes”

Eric Sturdza comments on the different playbooks used by companies – to protect the balance sheet, manage growth or take an offensive position.

Tactical decrease of credit risk

Eric Vanraes sets out the strategy of reducing risk and seizing quality opportunities in a time when future contracts cross the zero line.

Market correction provides an opportunity

Willem Vinke provides insight on the strength of stock selection during March resulting in alpha for both funds.

The shape of the recovery

Bertrand Faure: “Unprecedented global health, economic and financial crisis – the impact is likely to be temporary, the question however is how deep the decline will be?”

The market is on the way to recovery after its deep bottom in mid-March 2020

Yutaka Uda: the Japanese market outperformed the US and European markets as the number of COVID-19 cases in Japan did not increase as rapidly.

Safe haven treasuries and credit opportunities

Eric Vanraes’ outlook remains focused on two major situations; the macroeconomic situation (including growth and inflation) and Central Banks’ behaviour.

Extreme volatility

Eric Sturdza looks ahead: the corporate earnings season starting in mid-April will likely give some additional colour around companies’ plans to weather the current storm.

Epidemic stabilising in China

Lilian Co on recovery in China: the worst is over following the concerted effort by major central banks to stem the economic free fall.

Webinar – The Sturdza Family Fund: a portfolio built to weather extreme scenarios

Constantin Sturdza provides an overview of the Sturdza Family Fund and how it has performed during these unprecedented times.

Eric Sturdza Investments builds three new clean water wells in Tanzania

We are proud to be working with The Tumaini Fund again in 2020, a charity which seeks to support orphans in remote regions of Tanzania.

Decisions over the Japanese stimulus package are taking too long

Mitsuhiro Yuasa discusses the planning and impact of the stimulus package by Japan’s government.

Supporting those in need in difficult times

In these unprecedented and uncertain times, it has never been more important to show compassion and support for each other.

‘Active and wealth management’ article by allnews

Marc Craquelin & Constantin Sturdza discuss the potential long-term ‘protective’ nature of the Sturdza Family Fund strategy during extreme scenarios.

Eric Sturdza Investments: COVID-19 (Coronavirus) – Update 25/03/2020

An update on the relevant and necessary precautions and actions being taken to ensure the well being of all stake holders.

Cautious macro view proves wise

Willem Winke outlines defensive plans until the impact of the current situation becomes clearer.

Exogenous shocks

Eric Sturdza comments on the Fund’s repositioning between fixed income and equities as markets launch into an equity drawdown due to the pandemic.

Chinese government implements supportive methods

Lilian Co comments on the containment of coronavirus in China and the subsequent reopening of shops and production resuming.

10y Treasury yields at record lows

Eric Vanraes comments on avoiding emerging markets and focusing on high-quality and good timing.

Investing in resilient companies with strong cash flow generation is key to managing downside

Bertrand Faure describes the strategies and plans to come out of the temporary crisis on a stronger footing.

Team seeking investments that can grow in current environment

Mitsuhiro Yuasa reflects on historic global events and is monitoring Japan’s government actions that provide market stimulus.

More downward revision in Japan Q1 2020, quicker recovery from mid Q2

Yutaka Uda compares Coronavirus with the SARS outbreak of 2003 to estimate the impacts of COVID-19 on Japanese social and economic activities.

Eric Sturdza Investments: COVID-19 (Coronavirus)

We are closely monitoring the COVID-19 (Coronavirus) outbreak and will ensure all relevant and necessary precautions to ensure the well-being of all stakeholders are implemented. 

Awarded Citywire Gold Medal in the Equity – Europe sector

Eric Sturdza Investments awarded a Citywire Gold Medal in the Equity – Europe sector putting us in the top 5% of all fund groups within the sector.

Investing in European ‘Quality Growth’?

Over the past 10 years, the European equity markets have offered investors a relatively compelling opportunity set, delivering continuous growth, with only momentary periods of correction.

TINA* effect interrupted by nCov

Eric Sturdza on US Q4 earning reports and preparations to monitor the impact of the coronavirus epidemic.

Impact from coronavirus outbreak could be limited with the market set to recover sharply from 2Q 2020

Yutaka Uda: Corporations are continuously increasing shareholder returns. 2020 could be a remarkable one for the Japanese market, with the Nikkei 225 targeting 28,000 by the year end.

How will inactivity in China impact European markets?

Bertrand Faure and team have undertaken a study on each of the individual positions in the portfolio to develop an understanding of the direct and indirect impact of a prolonged period of inactivity in China.

Equity profits need to improve

Willem Vinke’s outlook on the world equity market – a complete disconnect between the stock market and the economy.

Safe haven bid on coronavirus fears

Eric Vanraes looks into the increasing demand for safe haven assets in light of coronavirus and the implications of this on US Treasuries.

Coronavirus impact on Japanese tourism

Mitsuhiro Yuasa looks at the impact of the coronavirus on Japanese Tourism and government to set up defences while continuing to prepare for the Olympic Games.

Recognition Award for Performance Excellence by BarclayHedge

Strategic China Panda Fund ranked Top 10 in the Emerging Markets Equity – Asia category.

Coronavirus will not have a long-term impact on the Chinese Economy

Lilian Co studies the impacts of the Coronavirus on Chinese markets, and expects markets to stabilise in months to come.

Sailing ahead with the Guernsey Sailing Trust

Eric Sturdza Investments is proud to support the Guernsey Sailing Trust, a local charity aiming to make sailing accessible to all.

Glossary

This page contains Eric Sturdza Investments’ Glossary of Investments Terms.

China – Macro headwinds subside offering opportunities in the H-share market in 2020

Lilian Co: The Chinese government turned more dovish in terms of its property policy with the aim of supporting sales.

A successful FINANZ’20

In January, Eric Sturdza Investments exhibited at FINANZ’20, the Swiss Finance Fair for professional investors, held in Zurich Oerlikon.

Continued equity upside

Eric Sturdza looks into the impact stabilisation of geopolitical and macroeconomic activity will have on 2020.

US yields steady in December despite trade deal and the Fed

Eric Vanraes: Current macro conditions and Brexit uncertainties support the recent accommodation measures from the ECB.

Corporate profits to turn around from 1Q 2020

Yutaka Uda: The Japanese economy should experience a sharp recovery from 1Q 2020.

A positive month for China, with hope for more good fortune in 2020

Lilian Co reflects on the positive impacts of December and how these could translate to future market confidence.

2019 proved to be high-quality, despite the surprises

Despite the many surprises of 2019, it was a good year for the Fund. Bertrand Faure comments.

An extraordinary 2019 with 2020 Outlook clouded, perhaps volatile in the 2nd half

Willem Winke reflects on December and how the events of last year will shape the future.

As two subdue, one emerges

Mitsuhiro Yuasa looks onward as some concerns come to an end, new opportunities emerge.

Eric Sturdza Investments appoints new CEO

Eric Sturdza Investments announces the appointment of Peter Lindqvist as CEO with effect from the 1st December 2019.

Eric Sturdza Investments to exhibit at FINANZ’20 – Stand No. A.22

Eric Sturdza Investments will attend FINANZ’20, Switzerland’s largest financial fair for professional investors, held in Zurich Oerlikon.

“Best Investment Management Firm, Guernsey” in Global 100, 2019 Listing

Eric Sturdza Investments recognised as the “Best Investment Management Firm – Guernsey, Channel Islands” in the Global 100’s 2019 listing.

Large economic stimulus package to contribute to sharp recovery from 1Q 2020

Uda San discusses the breakdown of the Japanese Government’s economic stimulus package.

Maintaining Order in Complexity

Willem Winke will maintain a defensive preference as Global political turmoil develops.

Global systemic risks recede in November

Eric Vanraes examines the affect of recent macroeconomic changes on US Treasuries.

Continued Equity Upside

Eric Sturdza explore the virtues of a positive outlook and it’s impact on the fund’s index.

Building Optimism for China-US Trade Deal

Lilian Co looks at the positive reverberations around progress towards a deal.

2019 Review and 2020 Outlook

All plc funds deliver positive absolute returns in 2019; Best Fund Group nomination; ESG committee & Charitable Giving. Marc Craquelin provides 2020 outlook.

Season’s Greetings 2019

Eric Sturdza Investments invite you to enjoy our festive film and wish you, your family and colleagues a happy and peaceful festive season and a prosperous 2020.

Eric Sturdza Investments to plant over 50,000 trees

We are delighted to support the Eden Reforestation Projects with our charitable donation leading to the planting of over 50,000 trees in 2020.

Strong performance to close out the year

Bertrand Faure explains the Fund’s strong performance for November.

Companies search for growth despite uncertain times

Mitsuhiro Yuasa discusses the markets rise during uncertain times.

Independent Portfolio Managers

Nominated for ‘Best Fund Group’ in ‘Equity – Europe’ sector

Eric Sturdza Investments is nominated for ‘Best Fund Group’ in the ‘Equity – Europe’ asset class at the Citywire France Awards 2019.

Earnings and New Highs

Eric Sturdza discusses the contributions and future challenges of the Healthcare sector.

Property exposure increased as Chinese developers record stronger sales

Lilian Co provides her insight on how the market has started to appreciate the long term prospect and asset-light model of property management companies.

Japan has the opportunity to re-build stronger and more resilient infrastructure

Mitsuhiro Yuasa comments on the upside potential of the Japan economy and action required to re-build infrastructure.

A hawkish rate cut, as expected

Eric Vanraes discusses how he expects the best performing asset class will be a mix of high quality short term Investment Grade bonds combined with long term US Treasuries.

Aggressive fiscal stimulus to play a big role for the Japanese market

Yutaka Uda comments on the TOPIX hitting a YTD high and why Value stocks were favoured in October.

Volatility providing fertile ground for stock pickers

Bertrand Faure comments on consensus estimates and the portfolio’s holdings reporting solid results for Q3.

Portfolios to remain defensive through to year end

Willem Vinke discusses the funds’ top contributors in October and preference for a defensive portfolio positioning.

The Storm before the Calm?

Mitsuhiro Yuasa examines the market changes in preparation for a smooth Tax Hike in Japan.

Current market shift provides great entry opportunity

Bertrand Faure comments on September’s sector rotation and the current premium of defensive stocks.

A pause in the rally or the first step of a correction?

Eric Vanraes discusses quantitative easing and deposit rates as inflation stimulating methods.

China and the USA: Back and Forth

Lilian Co outlines the ups and downs on the market over US-China trade talks.

September Update: Weight Problem?

Willem Vinke examines the allure of financial stocks against more stable sectors.

Expanding Horizons

Eric Sturdza explores the new opportunities ahead for one of the top contributors.

Is the End in Sight?

Yutaka Uda: Tentative agreement on trade war between US and China to be a trigger for a sharp rally.

E.I. Sturdza Strat Bnd Opps USD Super I

E.I. Sturdza Strgc Glb Qual USD R Acc

E.I. Sturdza Strgc Glb Qual USD Spr Insl

E.I. Sturdza Strat Japan Opps EUR Retail

A sense of déjà vu

Bertrand Faure provides a detailed stock-level review for the month of August.

August’s Yen Strength

Mitsuhiro Yuasa on the development of the US-Japan relationship.

A busy August

Eric Sturdza reviews the behaviour of equity markets in August.

August update: Macro view remains unchanged

Willem Vinke discusses the funds’ top contributors in August and provides his views on the macroeconomy.

BDI recovers: Has global manufacturing bottomed out?

Yutaka Uda discusses the current Japanese economy and provides a detailed market outlook.

Hong Kong’s property and retail sectors under pressure

Lilian Co reviews the performance of the Chinese market in August against various challenges.

Recession fears lead to a sharp bond rally

Eric Vanraes discusses global Central Bank’s latest moves.

Nominated for ‘Best Fund Group’ in ‘Equity – Europe’ sector

Eric Sturdza Investments nominated for ‘Best Fund Group’ in the ‘Equity – Europe’ asset class at the Citywire Spain Awards 2019.

Rebound or a real rotation?

Marc Craquelin comments on the market rebound, economic slowdown, the manufacturing sector’s road to recovery and how economic activity might translate into significant upside potential.

Some strong H1 results despite equity markets’ lack of direction

Bertrand Faure provides an overview of the top and bottom contributors to the Fund.

A reluctant first Fed rate cut

Eric Vanraes focuses on the Fed’s and ECB’s loosening of monetary policy.

The Federal Reserve yields

Eric Sturdza discusses the low volatility as investors adopt a ‘wait and see’ approach.

Federal Reserve provides a degree of certainty to market

Mitsuhiro Yuasa comments on the FRB’s current monetary policy stance and the impact on Japan’s economy.

July Update: More volatility to come?

Willem Vinke continues to maintain the Funds’ defensive portfolio positioning given the current environment.

Market moves sideways in July

Lilian Co on China’s resilient domestic consumption despite the current economic headwind.

Consumption tax hike unlikely to constitute risk for economy

Yutaka Uda believes that the Japanese market has the potential to catch up with other major markets.

European Equities: The potential for value creation in the long-term

Bertrand Faure provides an update on the Fund’s strategy and insights regarding the market corrections of 2018 and the drivers of strong returns during 2019.

The backend of 2019 could offer very interesting opportunities in European small and mid-cap companies

Bertrand Faure provides insight on the potential opportunities available in European equities towards the backend of 2019.

Change of name and minimum investment criteria for the Strategic Europe Value Fund

Fund renamed to further reflect the exposure to “Quality Value” investment opportunities and minimum investment criteria amended.

Chinese Equities: Fundamental investing in light of the U.S. and China trade talks

Lilian Co provides an update on the Strategic China Panda Fund and shares her latest insight on the Chinese equity markets.

Central Bank activism gives market confidence boost

Against a strong market rebound in June, Bertrand Faure comments on the Fund’s largest performance contributors.

Renewed hopes of a trade truce

Lilian Co takes a closer look at the US-China trade truce struck in June.

The Fed – playing a big role for the market

Yutaka Uda provides a review of the Japanese economy and the latest Tankan Survey.

The Central Bank’s dovishness – where to next?

Eric Sturdza explains the Fund’s current portfolio positioning against the prevailing macro economic environment.

G20 meeting able to release some tensions

Mitsuhiro Yuasa comments on the potential impact of the upcoming election and consumption tax hike in Japan.

Triathlon team win two Gold and two Silver medals

The Guernsey triathlon team (sponsored by Eric Sturdza Investments) are triumphant at the 2019 NatWest International Island Games.

June update: A strong rebound

Willem Vinke reviews H1 and the recent market rally, at the same time providing his outlook for H2.

A broad market rally

Eric Vanraes comments on the Central Bank’s guidance, triggering a broad cross-asset market rally in June.

Market Polarisation – A H1 Review

Marc Craquelin comments on the interest rate environment in H1 and the resulting market polarisation.

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In-depth due diligence, a basic requirement for long term sustainability

Brenda Petsche, Managing Director, reiterates our business model and due diligence processes, in light of the practices recently adopted by other Investment Managers.

Japan opens itself internally and externally

MItsuhiro Yuasa discusses how Japan’s economy is closely intertwined with those of the USA and China, plus the EU Economic Partnership Agreement.

May update – preference for defensive portfolio positioning maintained

Willem Vinke takes a closer look at the Funds’ performance contributors in May.

All eyes on the G20 meeting in June

Mitsuhiro Yuasa comments on the potentially delayed consumption tax hike and its impact on Japan.

“Buy in May”

Eric Vanraes looks at potential buying opportunities presented during the month of May and the rest of the year.

Additional Government stimuli expected

Lilian Co takes a closer look at the US-China relationship.

More accomodation in sight

Eric Sturdza comments on the Fed’s monetary policy stance and the market’s need for further accommodation.

Month of May lived up to its reputation

Bertrand Faure comments on the investment climate in Europe during the famously challenging month of May.

Market focuses on Trump-Xi meeting at G20 summit

Yutaka Uda comments on the market’s response to the US-China trade frictions.

Japanese Equities: Long-term investing in the Reiwa era

How will the new era of “beautiful harmony” affect Japanese equities? Mitsuhiro Yuasa, portfolio manager of the E.I. Sturdza Strategic Japan Opportunities Fund provides his latest insights on the Reiwa era.

Japanese equities: benefiting from external and internal transformations

Mitsuhiro Yuasa comments on the Japan-EU Free Trade Agreement (JETFA) in this guest article by Börse am Sonntag.

Q&A with Mitsuhiro Yuasa

In this interview by the Italian newspaper Patrimoni, Mitsuhiro Yuasa discusses the strengths and weaknesses of the Japan economy, the role of inflation, forecasting trends and what sectors the Fund is focused on.

A YTD stock-level review

Bertrand Faure provides a detailed commentary about the Fund’s and its underlying stocks’ YTD performance.

April update: Defensive portfolio positioning maintained

Willem Vinke provides his market outlook for the second half of the year.

A start of something new? Japan’s “Reiwa” Era

Mitsuhiro Yuasa comments on the outlook of the Japanese market in 2019 and the Fund’s current portfolio strategy.

Pick up of construction orders likely to trigger an economic recovery

Yutaka Uda comments on the impact of the FY2018 supplementary budget on construction orders and their wider impact.

Chinese shares continue their uptrend

Lilian Co takes a closer look at Chinese auto, property and liquor stocks.

Cautiously optimistic

Against the current economic backdrop, Eric Sturdza discusses the monetary policy path the US Fed may take.

Low Inflation + Weak Growth = Strong Rally

Eric Vanraes comments on the macro economy in the US and Europe and discusses investment opportunities given the current environment.

Chinese Stocks remain buoyant following US-China talks progress

During March, sentiment regarding Chinese stocks remained buoyant following progress in the US-China trade talks. Lilian Co comments.

Overall sentiment should improve, despite short term uncertainties

Eric Sturdza comments on the Central banks turning Dovish.

European equity markets are showing signs of becoming more rational in 2019

Bertrand Faure provides insight on the European equity markets and his Fund’s investment process.

Open bar at the Fed!

Eric Vanraes comments on the Fed’s return to a dovish monetary policy.

Change on the horizon? Japan’s “Reiwa” Era to start in May

Mitsuhiro Yuasa provides an outlook on the Japanese economy in 2019.

March review: Cautious outlook remains

Willem Vinke takes a closer look at the Fund’s top performing sectors and contributors in March.

A great start to the new year

Bertrand Faure comments on the contrasting behaviour of asset classes in 2018 and the beginning of 2019.

Global economy to turn around from 2H 2019 onwards

Yutaka Uda comments on the importance of fiscal policies in the current economic environment.

Chinese equities represent a great opportunity for long-term value investing

Lilian Co, portfolio manager of the EI Sturdza Strategic China Panda Fund, provides an insider’s view of the Chinese markets.

Strong job data offset by dovish FOMC minutes

Eric Vanraes comments on the Fed’s current Quantitative Tightening Policy.

A nearing trade deal?

Lilian Co discusses the progress made with regards to the US-Chinese relationship.

The team continue to focus on individual growth companies

Mitsuhiro Yuasa comments on the importance of “looking at a tree not a forest”.

February Update: The pricing of risk assets

Willem Vinke discusses the pricing of risk assets in the current environment.

Stock selection is key in the current environment

Bertrand Faure comments on the Fund’s largest monthly contributor Barco and its growth potential.

More upside from here?

Eric Sturdza comments on the general uncertainty about the neutral rate and the potential adjustment of the FOMC’s “dot plot”.

Infrastructure spending will help the global economic recovery

Yutaka Uda comments on the Japanese FY2019 budget.

Brexit and potential impact on the Strategic Europe Value Fund

The Strategic Europe Value Fund is currently deemed a PEA compliant Fund, investing on a continuous basis at least 75% of its NAV in eligible assets.

Government measures introduced to counter the slowdown

Lilian Co explains the measures taken by the government to counter the growth slowdown.

We find and invest in growth opportunities as always. This time, it’s 5G.

Mitsuhiro Yuasa is feeling positive towards the Japanese market.

January Rebound

Eric Sturdza discusses future rate hikes.

Dovish Cup: FED-ECB Finish 1-1

Eric Vanraes discusses the dovish tones of the FED and ECB.

The FED and ECB Remain Flexible

Bertrand Faure comments on the markets resilience.

January Update

The Strategic Europe Value Fund returned 5.09%* in January, underperforming its index by -1.1%. The market partially rebounded in January…

Development on US-China trade talks to trigger a miraculous jump for the market

Yutaka Uda discusses the potential for the Japanese economy to regain momentum.

A view on the 2018 market movements

Bertrand Faure comments on the Fund’s upside potential over the years to come.

The closing of the Strategic US Momentum & Value Fund

Eric Sturdza comments on the Fund closing its doors and looks back on its performance during the turbulent year of 2018.

New Family Fund launches – Offering dynamic exposure to global markets

Eric Sturdza introduces the Sturdza Family Fund, which launched in December, providing investors with the dynamic management of a global multi-asset investment portfolio.

90 day truce agreed – Trade deal nearing

Lilian Co comments on the implications of the 90-day trade truce between the US and China.

Sticking with good quality and growing companies

Mitsuhiro Yuasa puts the stock market’s performance in December in context and comments on the Fund’s current positioning.

Growth concerns push yields lower

Eric Vanraes comments on attractive investment opportunities in the the current environment of increased volatility due to global risk aversion.

Cyber Essentials Plus Certification

Eric Sturdza Investments has been assessed under the Cyber Essentials scheme and is rated Cyber Essentials Plus.

Decisive fiscal stimulus to be implemented by government

Yutaka Uda comments on Prime Minister Abe’s pursuit of higher economic growth and the respective means adopted.

December update – there is more to come…

Willem Vinke explains his preference for defensive portfolio positioning given the current environment.

Funds

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Leveraging on the opportunities presented – the launch of the New Sturdza Family Fund

In November the Fund posted a total return of +2.51%, outperforming its benchmark by 0.63 percentage points.

Any positive news can be a catalyst for a sharp rally

In November, the Japanese market initially declined following an announcement by Japan’s main mobile phone operator (DOCOMO) of its intention to reduce charges by 20~40% by mid-2019, triggering the stocks of 3 major telecom carriers to fall.

Are the Worst of the Trade War Fears Now Over?

The MSCI China Total Return index rebounded strongly in November gaining 7.3% after five consecutive months of decline. All eyes were on the meeting between US President Trump and Chinese President Xi at the G20 summit on 30 November.

Trade Tensions Trigger Uncertainty for Economic Growth

European equities continued to suffer during November, for the same reasons as highlighted in last month’s commentary (trade tensions triggering uncertainties around future economic growth, limited visibility about the Fed’s next move in December and beyond, as well as significant risk reduction across the board).

Fund Update – November 2018

The Strategic Europe Value Fund (EUR I Class) returned 0.13% in November, outperforming its index by 1% and the Strategic Global Quality Fund returned 1.20%, outperforming its benchmark by 0.06%.

The New Immigration Law – Another Step Towards New Japan

The domestic market recovered slightly in November despite the lack of any good news. Investors were disappointed about the lack of results from the APEC forum, with no notable progress made regarding the trade dispute between the US and China.

Ready for a Bond Rally by the end of the year?

During November, the main financial markets were driven by Brexit, the trade war between the US and China, the mid-term elections, the FOMC, the defeat of Ms Merkel’s party in local elections and the beginning of social troubles in France.

Strategic European Smaller Companies Fund – 2018 YTD Performance Review

Mid December, the Fund’s year to date performance stands at approximately -25% (as at 14/12/2018) while the Fund’s benchmark has lost ~8.5%. Since inception in May 2015, the Fund has returned +4% while the benchmark is down by -2%. Most of the outperformance created in 2015, 2016 and 2017 evaporated this year.

Sturdza Family Fund – Benchmarks

The Sturdza Family Fund launched on the 14th December 2018 with the aim of providing our investors with a solution within the multi asset space in light of increasing volatility, offering dynamic exposure to global markets.

Our commitment to charitable giving

Eric Sturdza Investments is proud to have worked with The Tumaini Fund in 2018, a charity which seeks to provide support to orphans in remote regions of Tanzania.

Evolution in Eric Sturdza Investments’ Product Offering

Two new sub-funds of the EI Sturdza Funds plc are to be launched in Dec 2018, the Sturdza Family Fund, a multi asset vehicle and the Strategic Bond Opportunities Fund, offering a core exposure to fixed income markets.

Season’s Greetings 2018

We invite you to enjoy our festive film and wish you, your family and colleagues a happy and peaceful festive season and a prosperous 2019.

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Investor sentiment dominated by fear of Trade War

The hostile speech by Mike Pence, the Vice President of the US, in early October was a big blow to China stock markets. The MSCI China Index and CSI 300 Index tumbled -11.5% and -8.3% respectively during the month.

October update – A preference for defensive portfolio positioning

The Strategic Europe Value Fund declined -4.24% in October, outperforming its index by 1.07 percentage points. The best performing sectors in terms of alpha were Materials and Industrials, due to strong stock selection. The Fund’s overweight to the Consumer Staples and Health Care sectors and its slightly higher cash position also helped.

Japanese companies have strength to deliver profits

In October, the market declined due to rising interest rates in the US and increased fears about a future deterioration of the US and global economy. The market fell after the US market plummeted following the release of weak housing statistics amid a worrying quarterly earnings season.

October turmoil

The Investment Adviser is still positive regarding equities’ short term potential to regain ground, but is cognizant that this scenario requires some positive developments on the international front and the economic backdrop to remain healthy.

October lived up to its reputation being a difficult month

October once again lived up to its reputation for being a complicated month in the stock market, with the Fund loosing -7.39%* during the month. More globally, the S&P declined on 16 out of 23 days, leading to a 6.9% loss in the US, shedding nearly $5Tr worth of collective market cap.

Bonds driven by risk aversion in October

In October, the main financial markets were driven by risk aversion. As IMF president Ms Lagarde put it: “risks are starting to materialize”.

Property market to enjoy “longer strides”

At the beginning of October, the Japanese market gained on the back of a depreciating yen, with the Nikkei 225 index reaching 24,270, the highest level in almost 27 years since the Japanese bubble era.

Japan on the road to growth – Understanding the mission and values of companies

Abenomics has inspired fundamental changes. According to Mitsuhiro Yuasa, director of Tokyo-based Rheos Capital Works, the emergence of new technologies will contribute to economic growth.

Never so good?

Marc Craquelin comments “It is too early to make an assessment regarding 2018; however, there is very little chance for the year to leave a good memory for European investors.”

September update – Cautious view maintained

The Strategic Europe Value Fund returned 0.58% over the month, slightly outperforming its benchmark (+0.53%). Stock selection was strong during September, particularly in the Information Technology and Consumer Staples sectors.

Valuation dichotomy between growth and value reaches a level not seen since 1999

During September the Fund reported a loss of -2.94% on an absolute basis. Spie was the largest monthly contributor to the Fund’s performance, followed by Albioma and Befesa.

Stable government, stable strategies and stable growth

After a moderate rally in August, the Japanese market declined sharply at the beginning of September, overall still posting a gain of 5.6% at the end of the month.

Italy and the Fed – Two key drivers of the bond markets in September

In September, the trade war between the US and China, emerging markets (Turkey in particular), political tensions around the world (Iran and the impact on oil prices) and – to a lesser extent – Brexit continued to be a source of concern. This said, the Italian budget and the FOMC were the most awaited key events of the month.

Sentiment towards A-Shares boosted during September

In September, market sentiment remained fragile as investors saw no end to the US-China trade tensions.

Work-style reform related bills continue to impact economy

Natural disasters, such as a typhoon and earthquake hit Japan, detrimentally impacting the economy, which is already being negatively affected by concerns over global trade frictions.

Higher yields – Not necessarily bad for equities

Data reports for the period were solid, showing no particular signs of an economic slowdown. As expected, the Federal Open Market Committee increased the federal funds rate by 25 basis points (to 2-2.25%) after its September meeting.

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Asian Equities: Opportunity for Growth in China and Japan

Video Series: Our investment experts provide their outlook for the Chinese and Japanese equity markets and the opportunities that lie within.

Disparities in European equity stock valuations lead to a great opportunity

Market movements have created significant disparities in European equity stock valuations leading to a great opportunity for fundamental investors. European…

Fundamentals associated with property sector remain solid in August

In August, China stocks remained under pressure as the ongoing Sino-US trade frictions, the contagion of the emerging market crisis…

The Fed more predictable than the ECB?

In August, the trade war between the US and China continued to escalate. At the same time, Turkey triggered Emerging…

Healthly labour backdrop reiterated

The month kicked off with a positive Q2 GDP report, indicating +4.1% QoQ growth. Consumer data was surprisingly strong, with…

Online retailers continue to disrupt established market players in August

In August, the Fund reported a gain of 0.63%* on an absolute basis, whilst the Fund’s benchmark lost 2.14%, leading…

August update: Strong run of industrials during the month

The Strategic Europe Value Fund* returned 1.2% in August, outperforming its benchmark by 3.5 percentage points. At a sector level,…

Existing growth opportunities in Japan despite natural disasters

In August, the domestic market (in terms of large caps) moved sideways, whilst small caps recovered. At the beginning of…

Japan’s vulnerability to natural disasters should urge sizable fiscal spending

During the first half of the month, the Japanese market weakened following a decline in the Chinese market and concerns…

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Welcome to Eric Sturdza Investments. Established in 1999, Eric Sturdza Investments is an independent investment fund company with a proven track record of offering award-winning strategies to institutional and private clients.

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China Equities: Core Investment Themes for Chinese Growth

Lilian Co, portfolio manager of the EI Sturdza Strategic China Panda Fund discusses the Fund’s core investment themes in the China equities market over the short and long term.

Japanese Equities: A Growth Opportunity

Mitsuhiro Yuasa, portfolio manager of the EI Sturdza Strategic Japan Opportunities Fund discusses the opportunities available in the Japan equities market.

July update

In July, the Strategic Europe Value Fund* returned +2.88%. At a sector level, the main monthly contributor to alpha was…

Interest in domestic exporters pushes Nikkei and Topix higher in July

The domestic market moved without clear direction in July with large caps rising, while small caps declined sharply during the…

GDP growth in Q2 driven by strong consumer spending

As widely anticipated, recent economic data still point to a strengthening economy. After a soft first quarter in terms of…

Markets driven by momentum rather than fundamentals

In July, the Fund reported a loss of -0.94% on an absolute basis. At the stock level the top three…

June export growth above expectations

After a dismal June, Chinese equities continued to fall in July as trade tensions between China and the US continued…

A beautiful summer clouded by trade war escalation

In July, the trade war between the US and China escalated, resulting in the CNY falling to a 12mth low….

Bank of Japan takes a more flexible approach to monetary policy

During the first half of July, the Japanese market declined on the back of concerns over trade frictions and the…

A Bright Future for Japanese Equities

Yutaka Uda, portfolio manager of the Nippon Growth (UCITS) Fund discusses the opportunities available in the Japanese equity market over the short and long term.

June update

BY WILLEM VINKE ​In June, the Europe Value Fund returned +0.59%*, outperforming its benchmark by 1.28 percentage points. In terms…

Dollar/Yen rate remains around 110 in June

BY MITSUHIRO YUASA In June, the G7 summit, which concluded with no new effective measures to resolve global trade disputes,…

Trade tantrum or taper tantrum?

In June, the trade war between the US and China, the political situation in Italy and the turmoil in Emerging…

Devaluation of Renminbi perceived as unlikely

In June, Chinese equities were sold heavily following an unexpected announcement by the US regarding import tariffs as well as…

Capital spending significantly boosted by tax reform

2018 began well, as the economy benefited from positive momentum off the back of 2017. Nonetheless, the outlook for the…

European active funds shift allocations to staples and utilities

During June, the Fund reported a loss of -1.09% on an absolute basis, with the Fund’s benchmark ending the month…

Infrastructure investment in the USA expected to expand soon

The Japanese market gained in the first half of June on the back of strong economic data in the US…

Multi-Year Up Cycle for Chinese Equities

PRESS RELEASE 19 JULY 2018 As concerns over an impending trade war between the US and China hots up, one…

President Trump’s “Uncooperative Games”

Marc Craquelin comments on how the trade war between the United States and most of its trading partners, China in particular, is reminiscent of John Forbes Nash’s “uncooperative games”.

Change of Fund’s investment policy

The EI Sturdza Strategic Euro Bond Fund launched in 2009, just after the collapse of Lehman Brothers. At the time,…

May payroll report surprises on the upside

BY ERIC STURDZA By the end of May most – if not all – of the companies in the S&P…

Political risk in Italy affects European periphery

BY PAOLO MARONGIU ​The month of May showed a pronounced dispersion of returns, with US equities demonstrating strength (S&P 500…

Immigration policy under review by current government

BY MITSUHIRO YUASA In May, the Fund gained 0.57%, led by companies that reported better than expected earnings results and…

May update

BY WILLEM VINKE ​In May, the Europe Value Fund* returned +1.37%, outperforming its benchmark by 1.26 percentage points, partially attributable…

Political situation in Italy keeps market in suspense

During May the Fund reported a loss of -1.91% in absolute terms. Despite the uncertainty in Europe, in part created…

Retail sales and tourist arrivals in HK surprise on the upside

BY LILIAN CO In May, investor sentiment regarding China stocks kept improving as the market digested macro events like interest…

Italy and Emerging Markets push safe haven yields lower

BY ERIC VANRAES Despite the trade war between the US and China still being a matter of concern, all eyes…

The market is waiting for a clear signal to make a significant jump

BY YUTAKA UDA During the first half of May, the Japanese market gained as optimistic views prevailed on the back…

Identifying value in European small to mid-cap equity markets

An unprecedented wave of political and economic uncertainty in Europe over the past few years has created significant opportunities for…

US 10 year yield reaches 3%. So what?

BY ERIC VANRAES In April, the trade war between the US and China was still a matter of concern. In…

Solid economic growth supports European markets in April

BY BERTRAND FAURE During April the Fund reported a gain of +0.68% on an absolute basis. After a negative first…

April update

BY WILLEM VINKE In April, NYMEX WTI CRUDE rose 5.59% to finish at $68.57. At the same time, the US…

Currency market supports market sentiment in April

BY MITSUHIRO YUASA In April, the performance of the Japanese domestic market was mixed following geopolitical turmoil and in anticipation…

Tax reform and its positive impact expected to show on business side of economy soon

BY ERIC STURDZA As the Fed continues to reduce the scale of accomodation, calls for an economic slowdown have increased,…

Value investments outperformed growth and quality names in April

BY PAOLO MARONGIU April was a positive month for equity markets, leading to a partial reduction in the gap between…

WTI crude oil may increase to 100 USD/bbl in 2020

BY YUTAKA UDA In April, the Japanese market gained more than the US against a backdrop of rising US long-term…

Sino-US trade disputes keeps market flat in April

BY LILIAN CO In April, China stocks stabilised after the correction in the first quarter. During the month, the MSCI…

Announced salary rise an indication for future economic expansion in Japan?

BY MITSUHIRO YUASA In March, the Japanese market declined, with President Trump’s worldwide trade sanctions dragging down market sentiment. Foreign…

Uptick in market volatility and return dispersion anticipated

BY ERIC STURDZA The correction of US equities in February, which was more technical in nature than anything, spread to…

March update

BY WILLEM VINKE In March, NYMEX WTI CRUDE was up 5.35% to finish the month at $64.94. During the month, the US…

Companies faced with macro-economic challenges

BY BERTRAND FAURE March turned out to be another volatile and poor performing month for European Equities. In spite of…

Transition from “Golidlocks” era underway

BY PAOLO MARONGIU March was a difficult month for equity markets, with high volatility, which nevertheless was lower than during…

The Fed will cause an inversion of the US Treasury curve

BY ERIC VANRAES In March, the most awaited economic data were unemployment figures, in particular the average hourly earnings, which…

Trade frictions to be overcome without serious damage for either country

BY YUTAKA UDA In March, the Japanese stock market continued to be subject to sharp movements, influenced by the protectionist…

Chinese properties and pharmaceuticals outperform during the month

BY LILIAN CO In March, market sentiment was dominated by trade disputes, with daily stock market movements dictated by Donald…

EI Sturdza Funds PLC appoints Marc Craquelin to the board

We are delighted to announce that Marc Craquelin, L’Agefi’s 2016 CIO of the year and former CIO and Member of…

Investors reassess the Fed’s policy outlook

BY BERTRAND FAURE February marked the return of volatility to European financial markets. Volatility picked up on Friday, 2nd February…

Market sell-off seemingly unrelated to change in fundamental economic backdrop

BY ERIC STURDZA In February, the U.S. equity markets were subject to a correction after a long run, which had…

Will Japanese companies raise salaries in line with market consensus?

BY MITUSHIRO YUASA ​In February, the Japanese market declined sharply, triggered by a sudden increase in market volatility, especially in…

Corrections can be seized upon as buying opportunities

BY PAOLO MARONGIU Market volatility spiked abruptly between the end of January and the first half of February, leading equity…

Inflation fears take markets by surprise

BY ERIC VANRAES On 2nd February, average hourly earnings rose by 2.9% YoY (the most since 2009), leading market participants…

February update

BY WILLEM VINKE In February, NYMEX WTI CRUDE was down 4.77% to finish at $61.64. The US 10y treasury yield…

A golden opportunity lying ahead for investors

BY YUTAKA UDA ​In February, the Japanese stock market was subject to very volatile and sharp movements. The Nikkei 225…

Correction eventually set in

BY LILIAN CO In February, the MSCI China Index declined by 6.4%, ending a thirteen month long winning streak, with…

Winner of ‘Best New Launch – Equity’ at 2018 Investors Choice Awards

We are delighted to announce that the EI Sturdza Strategic Japan Opportunities Fund was awarded the ‘Best New Launch –…

‘Best Singapore Group – Equity Europe’ at Citywire Asia Awards 2018

EI Sturdza Investment Funds wins the award for “Best Singapore Group” in the “Equity – Europe” category at the Citywire’s Asia Awards 2018.

Lilian Co sees further upside for Chinese equity markets

The Morningstar five star rated Strategic China Panda Fund returns 63% in 2017, and Lilian Co believes the market has room for a further rebate in the short to mid-term.

Strong corporate earnings continue to support market

BY MITSUHIRO YUASA At the beginning of the year, the Japanese market rose again on the back of a “Goldilocks“…

“Value” investment style as driver behind European market surges

BY PAOLO MARONGIU ​In January, the positive market trend, which had characterised Q4 in 2017, persisted, with the main global…

Transitional phase at Fed may stir up a few market wobbles

BY ERIC STURDZA The US equity markets continued their rally in January, with the S&P 500 gaining 5.6% and posting…

Central bankers start the year with a more hawkish tone

BY ERIC VANRAES In January, US economic data was mixed, with strong consumption figures on the one hand and disappointing…

January update

BY WILLEM VINKE  In January, NYMEX WTI CRUDE gained 7.13% to finish the month at $64.73. The US 10y treasury…

Watch out for President Trump’s infrastructure investment plan

BY YUTAKA UDA On 4th January 2018, the Japanese stock market opened the first trading session of the year strongly,…

Financials as the month’s market darling

BY LILIAN CO Chinese stocks started 2018 with a bang, with the MSCI China Index soaring 12.5% and the CSI…

Fund starts year on a positive note

BY BERTRAND FAURE The Fund was up +2.45% in January, outperforming the European financial markets which also performed well during…

Eric Vanraes comments on recent market volatility

BY ERIC VANRAES ​First and foremost, the current volatility is not exceptional; however investors have forgotten how markets really behave…

Five Star Morningstar Rating for the ‘Strategic Global Quality Fund’

The Strategic Global Quality Fund (“Fund”) launched in December 2014 is now five star rated (three year and overall) by Morningstar.

December update

BY WILLEM VINKE   In December, NYMEX WTI CRUDE was up 5.26% to finish at $60.42. The US 10y treasury yield decreased 0.18% to finish the month…

European equity market ends year in positive territory

BY PAOLO MARONGIU December was generally a positive month for global stock markets (MSCI World P.R.: +1.26%; S&P500 P.R.: +0.98%; MSCI Emerging Markets P.R.: +3.36%),…

Market rally backed by corporate earnings growth and low inflation

BY MITSUHIRO YUASA In December, Japanese stocks generally rose. Foreign investors who invested heavily during September and October however appeared relatively quiet…

The timing of the BoJ’s policy change expected in the short term

BY YUTAKA UDA ​In December, the Japanese stock market increased for the fourth consecutive month with the Nikkei 225 closing the month…

Corporates are reaping benefits from supply side reform

BY LILIAN CO December was yet another positive month for the Chinese market, with the MSCI China Index returning 1.9%. The market…

US tax boost likely to provide tailwind and lift U.S. equities higher

BY ERIC STURDZA Stocks finished the year positively, with the benchmark posting a 1.1% gain in December, while the Fund returned…

Central banks behaviour will be led by inflation, not growth

BY ERIC VANRAES In December, US economic data were mixed, with a very strong housing sector and unemployment figures on the…

Outlook for 2018 remains positive

BY BERTRAND FAURE 2017 was a good year for the Fund, both in terms of absolute and relative performance. The…

EI Sturdza at FINANZ’18

EI Sturdza attended FINANZ’18, Switzerland’s largest financial fair from 31 January to 1 February 2018. Below are a selection of our portfolio managers and their insights: Lilian…

Lilian Co on China’s New Economy

Lilian Co, portfolio manager for EI Sturdza’s Strategic China Panda Fund explains why China’s ‘New Economy’, a term she uses to…

Goldilocks market environment in Japan

BY MITSUHIRO YUASA Overall, the Japanese market rose again in November, backed up by strong corporate earnings. Small-caps caught up with large…

US markets outperform European markets in November

BY PAOLO MARONGIU The month of November showed a misalignment in performance of the main equity markets: the global and American…

Economy’s growth momentum accelerating in Japan

BY YUTAKA UDA ​In November, the Japanese stock market recorded a 26-year high following improving economic fundamentals, a continuous upward revision of…

November update

BY WILLEM VINKE In November, NYMEX WTI CRUDE was up 5.55% to finish at $57.40. The US 10y treasury yield increased by 1.27% to close the month…

Non-stop market rally

BY LILIAN CO In November, the China stock market rally was unstoppable. The MSCI China Index and the CSI 300 Index soared…

Productivity growth acting as tailwind for economic growth in US

BY ERIC STURDZA The latest economic data releases remain consistent with the ongoing moderate pace of growth and are likely to…

US and German yields stay low despite good economic figures

BY ERIC VANRAES In November, the US unemployment rate remained low at 4.1% and, more importantly, wages rose. In Europe, the…

Earnings season creates some volatility in European financial markets

BY BERTRAND FAURE During November, the Fund declined by -3.42% on an absolute basis. Year to date however the Fund…

EI Sturdza’s Lilian Co on China’s Growth Story

Lilian Co sat down with InvestmentEurope to discuss her expectations for growth in China’s economy in 2018.

Season’s Greetings 2017

We wish you a happy and peaceful festive season. Enjoy our festive film.  Thank you for your continued support…

2017 Roundup

What a year! 2017 has been a busy and exciting year at EI Sturdza with new fund launches, strategic partnerships, industry…

Economic conditions boding well for an above trend rebound in 4th quarter

The Federal Open Market Committee (FOMC) minutes and statement, alongside a couple of noteworthy economic data releases were this month’s…

October update

In October, NYMEX WTI CRUDE was up 5.2% to finish the month at $54.38. The US 10y treasury yield increased by 1.96%, finishing at 2.3793%….

Expectations regarding ECB meeting keep market in suspense

After the very good performance posted in September, the European stock market overall continued its surge in October. The main…

Japanese market rises on expectations regarding strong and stable government

Prime Minister Abe’s snap election held in October paid off for the ruling LDP and the Komei party, which were able to maintain their…

China’s market goes up up up

October was another up month: Chinese equities simply went from strength to strength. The MSCI China Index and the CSI 300 index jumped…

More clarity on monetary policies pushes market up

During October the Fund reported a gain of +1.30% on an absolute basis. Year to date the Fund has posted…

The flatter US curve is a fair warning for 2018

In October, US macroeconomic data was strong: the ISM manufacturing index rose to 61, durable goods orders increased by +2.2%,…

Equity valuations to increase as deflation fades

In October, the Japanese stock market rallied following favourable economic indicators, a depreciation of the yen against the US dollar, expectations regarding…

Finding the sweet spot in European equities

Bertrand Faure, portfolio manager of the Strategic European Smaller Companies Fund, features in Citywire Selector, discussing current opportunities in Europe’s small-cap markets and how he identifies ‘gems off the beaten track’.

An asset manager with a Swiss Heritage and a very different investment philosophy

Georges Gutmans, Executive Chairman of EI Sturdza Investment Funds, discusses the rich history behind this young and dynamic asset management business and why its investment philosophy is so unique.

Strategic China Panda Fund: Change in reporting Benchmark

E.I. Sturdza Strategic Management Limited (“EI Sturdza”) proposes to henceforth report performance of the Strategic China Panda Fund (the “Fund”)…

China Investment Outlook: The journey towards sustained growth

In her latest webinar to investors, portfolio manager Lilian Co, discusses China’s journey towards sustained economic growth and the opportunities…

Europe in September 2017

BY WILLEM VINKE ​In September, NYMEX WTI CRUDE was up 9.4% to finish the month at $51.67. The US 10y…

Winner takes all

BY LILIAN CO In September, Chinese equities kept trending up, with the MSCI China Index returning 0.84%. Compared to previous…

More solid than anticipated economic data pushes market to new high

BY ERIC STURDZA In September, investors and the Federal Reserve were faced with noisy economic data releases as Hurricanes Harvey,…

European market shows strong come back summer drawdown

BY PAOLO MARONGIU After a short-lived decline at the beginning of September leading the MSCI Europe Index to reach its…

Japanese market declines in light of geopolitical tensions

BY MITSUHIRO YUASA ​At the beginning of September, the Japanese market declined due to threats associated with North Korea and…

Central Banks maintain accomodative stance

BY BERTRAND FAURE September was a strong month for the Fund, which reported a gain of +4.74% on an absolute…

The size of Central Banks’ balance sheets matters, not the level of key rates

BY ERIC VANRAES In September, US macroeconomic data (apart from the Institute for Supply Management’s (ISM) manufacturing data) disappointed: data…

Important global political events to be a trigger for another sharp rally

BY YUTAKA UDA ​In September, the Japanese stock market returned a solid performance. Early in the month, the market pulled…

EI Sturdza Investment Funds partners with Zurich fund distributor Johann & Graemiger Partners

EI Sturdza Investment Funds has formed a partnership with Johann & Graemiger Partners, a specialist fund distributor with a local presence in Zurich, to further expand EI Sturdza’s institutional investor base in the region. 

Accommodative backdrop and temporarily abated risks lead to slightly more cautious approach

BY ERIC STURDZA Over the course of August, investors had to digest the usual slur of economic data releases alongside…

European equity markets hit hard by Dollar depreciation

BY PAOLO MARONGIU ​The European stock market rebounded in the first eight days of August, followed by two corrections –…

Japan’s financial condition supports company growth in times of a difficult macro environment

BY MTSUHIRO YUASA In August, the Japanese market was shaken again by geopolitical problems. Poor dialogue between North Korea and…

Desperately seeking inflation

BY ERIC VANRAES Despite some good news from both sides of the Atlantic (strong unemployment figures and retail sales in…

Markets to focus on good fundamentals once political uncertainties vanish

BY YUTAKA UDA In August, the Japanese stock market started the month on a better note due to favourable earnings…

China stocks went from strength to strength

BY LILIAN CO Ignoring the ongoing political standoff between the US and North Korea, Chinese equities simply went from strength…

Europe in August 2017

BY WILLEM VINKE ​In August, NYMEX WTI CRUDE declined by 5.86% MoM, finishing the month at $47.23. The US 10y…

Strategic Global Bond Fund – RMB class closure

Following the circulation of ESMA’s Opinion Paper to EU regulators, dated 30 January 2017 regarding the introduction of a consistent…

Strategic European Smaller Companies Fund – capacity announcement

In light of strong growth in assets under management within the Strategic European Smaller Companies Fund (the “Fund”), E.I. Sturdza…

Japanese stock market more resilient to currency fluctuations

BY YUTAKA UDA In July, the Japanese stock market initially rallied due to a weaker yen against the background of…

July update

BY ERIC STURDZA With 2017’s second quarter earnings season almost completed, this report will include: (1) a look at the…

European equity markets continue sideways move

BY PAOLO MARONGIU In July, the European stock market moved sideways, with weak and short-lived rebounds and a continuation of…

Summer party not worried by Central Banks tapering concerns

BY ERIC VANRAES In July, US economic data continued to be positive. However, GDP, employment and home prices have still…

Unveiled margin pressures in Europe despite H1 results confirming economic recovery

During July, the Fund outperformed its benchmark by +0.38% and managed to report a small gain of +0.03% on an…

Winning streak of MSCI China Index continues

July was a strong month for Chinese equities, with the MSCI China Index soaring 8.3%, up the seventh consecutive month…

Better-than-expected corporate earnings support market

BY MITSUHIRO YUASA Q1 earnings of Japanese corporations were better than expected, leading investors to increase their confidence in companies…

Europe in July 2017

BY WILLEM VINKE The Funds benchmark returned -0.37% in July. NYMEX WTI CRUDE was up 8.97% in July MoM to…

Unlocking productivity in Japan

Mitsuhiro Yuasa spoke to Funds Global Asia about the importance of economic reforms in Japan and the solutions to overcoming the country’s “population problem”.

Japanese market on the rise

BY MITSUHIRO YUASA In June, the Japanese market rose again supported by investors’ strong expectations of bottom-line growth of Japanese…

Investment climate in Europe still healthy despite market slide in June

BY PAOLO MARONGIU In June, the European stock market experienced a constant and gradual slide. In the first half of…

Europe in June 2017

BY WILLEM VINKE The Funds benchmark returned -2.48% in June. NYMEX WTI CRUDE was down 4.72% in June, finishing at…

There will be no summer break for Central banks

BY ERIC VANRAES In June, US economic data was disappointing as consumption, production and business confidence decreased. On 14th June, the…

June update

BY ERIC STURDZA To mark the first half of 2017, this report will include: (1) a brief snapshot of the…

Cautious positioning enabled the Fund to outperform in June and creates opportunities for the coming months

BY BERTRAND FAURE During June, the Fund outperformed its benchmark by +1.89%, however it made a small loss of -0.64%…

Crushing defeat in the Tokyo assembly election should invite more economic stimulus

In June, the Japanese stock market kept rising due to the yen weakness against major currencies and healthy economic data…

Confirmed MSCI Index A-share inclusion pushes up market

BY LILIAN CO June was yet another up month for the local bourse. The MSCI China index climbed 1.5%, making…

Sturdza’s Triathlon teams bring home the medals at The Island Games

Eric Sturdza Investments was proud to sponsor the Guernsey Triathlon men’s and women’s teams at the 2017 NatWest Island Games held in Gotland, Sweden.

Cautious positioning enabled the Fund to outperform in June and creates opportunities for the coming months

BY BERTRAND FAURE  During June, the Fund outperformed its benchmark by +1.89%, however it made a small loss of -0.64% on…

QE: A rush for the exit

Eric Vanraes spoke to fixed income publication, The DESK, about the prospect of a near-term end to QE and its potential impact on investors.

May update

BY ERIC STURDZA Economic data releases in May haven’t altered the main direction depicted in last month’s report. Nonetheless, some…

A month of two halves for European equities

BY PAOLO MARONGIU May was a month of two halves for European equities, in the first half of the month…

Quality Emerging bonds and long dated US Treasuries, a barbell strategy for the next Semester

BY ERIC VANRAES In May, US activity indicators were disappointing while unemployment figures and average hourly earnings were strong. The…

Europe in May 2017

BY WILLEM VINKE The Fund’s benchmark returned 1.53% in May. NYMEX WTI CRUDE was down 2.05% on the month to…

Japanese companies can continue to increase profits

BY MITSUHIRO YUASA In May, the Japanese market rose again, with small caps outperforming large caps. The market was supported…

Final outcome for the French presidential elections

BY BERTRAND FAURE European financial markets moved upwards during the month of May, with the Fund’s benchmark up +1.46%. As…

5th consecutive monthly gain for Chinese equities

BY LILIAN CO In May, China stocks simply went from strength to strength. The MSCI China index soared another 5.1%…

Great turnaround to be kicked off after major political events

BY YUTAKA UDA In May, the Japanese stock market rose soundly amid retreating uncertainties over US policies, an increased likelihood…

Bertrand Faure discusses the Fund’s approach to identifying market leaders

Bertrand Faure, portfolio manager for E.I. Sturdza’s Strategic European Smaller Companies Fund, discusses how small-cap equity markets in Europe have…

French presidential election result good for the stability of the Euro area

BY PAOLO MARONGIU The second half of April was a good period for European equities, with the MSCI Europe Index…

Improvement in Sino – US relations

BY LILIAN CO The performance of China stocks in the A share market and the HK market diverged in April….

Europe in April 2017

BY WILLEM VINKE The Fund’s benchmark returned 1.69% in April. Gold increased by 1.53% to finish at $1,268.28 as political…

Increase in public spending to trigger Japanese economic expansion

BY YUTAKA UDA In the first half of April, the Japanese stock market was generally weak as geopolitical risks grew…

April update

BY ERIC STURDZA As the first third of 2017 comes to end, (1) the general state of the U.S. economy,…

Quality Emerging bonds still offer the best risk-reward profile

BY ERIC VANRAES In April, US economic data was disappointing with the notable exception of housing and unemployment figures. The…

French election first round result lifts overhang on European markets

BY BERTRAND FAURE European financial markets were in a “wait and see” mode for the main part of April until…

The Japanese market rose slightly in April

BY MITSUHIRO YUASA Overall, the Japanese market rose slightly in April, but small caps which had previously rallied declined during…

EI Sturdza Strategic Quality Emerging Bond Fund celebrates its first Anniversary

We are delighted to announce that the EI Sturdza Strategic Quality Emerging Bond Fund, advised by Portfolio Manager Eric Vanraes…

CNBC Interview: Eric Vanraes on French elections, European bond markets and ECB policy

EI Sturdza fixed income portfolio manager, Eric Vanraes, appeared on CNBC Squawk Box to discuss the upcoming French elections, market…

EI Sturdza wins Citywire Switzerland Group Equity Award

EI Sturdza Investment Funds is delighted to be awarded Best Group in the Europe – Equity category at the Citywire Switzerland Awards 2017.

Small caps outperform large caps in March

BY MITSUHIRO YUASA Japanese small caps rose continuously in March whilst the overall market traded sideways due mainly to the…

Continued upward trend in European markets with low implied volatility.

BY BERTRAND FAURE In March, European financial markets continued their upward move, with little discrimination and an extremely low implied…

Strong first quarter for Chinese equities

BY LILIAN CO China stocks were up for the third consecutive month. The MSCI China index climbed another 2.1% in…

Bonds: the calm before the (bullish) storm?

BY ERIC VANRAES In March, US economic indicators were led by strong housing and unemployment figures and consumer confidence data…

Europe in March 2017

BY WILLEM VINKE The Fund’s benchmark returned 3.34% in March. NYMEX WTI CRUDE was down 6.31% on the month to…

A good month for European equities

BY PAOLO MARONGIU March was a very good month for the European equity market both in absolute and relative terms….

The market awaits implementation of Trump’s new policies

BY YUTAKA UDA In March, the Japanese stock market rallied based on the expectation there would be an early rate…

Market set to become more selective

BY ERIC STURDZA In March, investors were focused on (1) the FOMC minutes, (2) economic data releases, (3) the upcoming…

Investing in Growing Companies in Japan’s New Economy

Portfolio manager of our new Strategic Japan Opportunities Fund (“Fund”), Mitsuhiro Yuasa, discusses the economic climate in Japan, small and…

Low market volatility continues

BY PAOLO MARONGIU February was a good month for the European equity market, which recovered after an unstable January. During…

February update

BY ERIC STURDZA In February, the market was focused on (1) the Federal Reserve and the chances of them raising…

China stocks continue their upward trend in Februray

BY LILIAN CO China stocks continued their upward trend in February. The MSCI China index and CSI 300 index climbed…

Eric Sturdza Investments launches the Strategic Japan Opportunities Fund

Eric Sturdza Investments (“EI Sturdza”) announces the launch of the EI Sturdza Strategic Japan Opportunities Fund (“the Fund”), managed by…

Bonds caught between hawkish Central banks and political uncertainties

BY ERIC VANRAES In February, US economic indicators were mixed and led by very strong housing data. Inflation remained the…

Fed rate hike – so what?

BY ERIC VANRAES THIS IS CLEARLY A DOVISH HIKE The Fed will remain extremely cautious as they confirmed their growth…

Stock market rebound in February and continued outperformance for the Fund

BY BERTRAND FAURE European financial markets recovered in February after muted performance in January. The Fund’s benchmark was up +3.05%…

Infrastructure investment to lead world economic growth

BY YUTAKA UDA In February, the Nikkei JASDAQ posted 13 consecutive days of gains up until the last day of…

Europe in February 2017

BY WILLEM VINKE The Fund’s benchmark returned 2.92% in February. NYMEX WTI CRUDE was up 2.27% on the month to…

Economic data and earnings supportive whilst the Fed awaits clarity on fiscal policy

BY ERIC STURDZA The ongoing shift in the economic narrative and consequent upside has largely been attributed to the potential…

Domestic consumption remains robust

BY LILIAN CO China stocks staged a strong comeback in January. The MSCI China index soared 6.79% and CSI 300…

European Bonds are becoming more at risk than Treasuries

BY ERIC VANRAES In January, US economic indicators were encouraging as consumer confidence and consumption remained strong. Inflation was on…

Europe in January 2017

BY WILLEM VINKE The Fund’s benchmark returned -0.37% in January. NYMEX WTI CRUDE was down 1.69% on the month as…

Remarkable rally expected with accelerating economic recovery

BY YUTAKA UDA For the first time in 4 years, the Japanese market rose on the first day of the…

Investment case for Japanese equities

VIEWS FROM YUTAKA UDA – 24.01.2017 Why should people invest in Japan today and in particular in large cap strategies?…

US economy closes the year on a firm footing

By ERIC STURDZA In December, the US economy closed the year on a firm footing as the household sector seemed…

Europe in December

BY WILLEM VINKE The Fund’s benchmark returned +5.84% in December. NYMEX WTI CRUDE was up 8.66% on the month as…

Trump rally enables financial markets to end the year in marginally positive territory for 2016

BY BERTRAND FAURE The Trump effect, characterized by a reallocation towards riskier asset classes, continued in December. As a consequence,…

Reform measures set to unleash the potential for growth

By LILIAN CO The sell-off of China stocks extended into December. The MSCI China index lost 4.10% in the month…

Will Trumponomics extend or shorten the economic cycle?

BY ERIC VANRAES In December, markets were driven by the two major Central banks meetings, the FOMC and the ECB….

World economic growth to be lifted by new policies from Mr. Trump

By YUTAKA UDA In December, the market continued to advance supported by 1) The continuous rise in crude oil prices…

EI Sturdza launches Strategic Beta Flex Fund

The EI Sturdza Strategic Beta Flex Fund invests in a globally diversified portfolio of equity funds and reduces volatility by partially or fully hedging the underlying market exposure.

A huge bond sell-off driven by Trumponomics, but not only

BY ERIC VANRAES In November, markets were driven by the US presidential election outcome and the victory of Donald Trump….

Sector rotation expected to continue beyond US election

BY ERIC STURDZA At the beginning of November, the level of confidence the market was placing on a December interest…

Global cycle accelerating and tightening clearly ahead

BY BERTRAND FAURE The outcome of the US elections was the biggest piece of news of the month. Contrary to…

Back to normalization

BY YUTAKA UDA In November, the market’s attention was focused on the US presidential election. Up until the point that…

Europe in November

BY WILLEM VINKE The Fund’s benchmark returned +1.09% in November. NYMEX WTI CRUDE was up 5.51% on the month as…

China – Value emerging once again

BY LILIAN CO The market remained soft with MSCI China total return index down 1.17% in the month. The strong…

EI Sturdza wins two Citywire Italy awards

EI Sturdza Investment Funds has continued to build on a strong 2016 by winning two awards from Citywire last week. We collected the European Equity and Best Fund Manager categories in…

Government tightening measures cool the property market

BY LILIAN CO China stocks lost momentum with the MSCI China index down 1.95% in October on resurging concerns of…

Bonds behaviour driven by uncertainty (US presidential election, Fed hike and ECB tapering)

BY ERIC VANRAES In October, markets were driven by the US presidential election, the probable Fed rate hike in December…

Earnings Turning Positive

BY ERIC STURDZA Data reports released in October added little colour to the overall economic outlook i.e. moderate growth and…

Europe in October

BY WILLEM VINKE The Fund’s benchmark returned -0.82% in October. NYMEX WTI CRUDE was down 2.86% on the month. The…

Muted month prior to US election outcome

BY BERTRAND FAURE Despite numerous macro news releases during the month, October turned out to be quite uneventful in terms…

Paradigm shift from deflation to inflation worldwide

BY YUTAKA UDA In October, thin trading continued as the market waited for the presidential election in the US. However,…

Trump Tantrum: First thoughts, outlook and behaviour of bond fund range

Donald Trump will become the 45th President of the United States. Against all odds, stocks rallied and safe havens such…

Eric Vanraes in Pensions & Investments: inflation is a long-term risk

Eric Vanraes spoke to Pensions & Investments magazine about the risks posed by inflation.

E.I. Sturdza Funds PLC – Change of Service Provider

Further to our recent correspondence regarding the forthcoming transition of service providers, which will impact the E.I. Sturdza Funds plc…

EI Sturdza wins Citywire Germany award for European Equities

EI Sturdza Investment Funds announced that the firm has won the inaugural Citywire Germany award for the European Equity category last week. The…

Europe in September

BY WILLEM VINKE The Fund’s benchmark was flat in September returning just -0.03%. NYMEX WTI CRUDE was up 7.92% on…

Fed expected to raise rates in December

BY ERIC STURDZA During the month of September debates surrounding the Federal Reserve’s potential actions, the ongoing US presidential election,…

Strong performance in Q3 for the Fund with a 10.2% return

BY BERTRAND FAURE European financial markets were definitely more volatile in September in a month heavily influenced by central banks’…

Export growth to keep improving as the Renminbi devaluation continues

BY LILIAN CO The local bourse remained buoyant with the MSCI China total return index up a further 2.5% in…

Eventually, there is only one source of concern: The credibility of Central Banks

BY ERIC VANRAES In September, markets were driven by China (non-performing loans), Japan (the slope of the yield curve managed…

Supplementary budget to be the catalyst for a sharp economic recovery

BY YUTAKA UDA In September, thin trading continued as investors adopted a “wait and see” stance ahead of policy meetings…

E.I. STURDZA FUNDS PLC – CHANGE OF SERVICE PROVIDER

Since authorisation of the E.I. Sturdza Funds plc (the “Fund”), HSBC Securities Services (Ireland) Limited and HSBC Institutional Trust Services…

Wake-up! The US rate hike already took place via the $ 3 month Libor increase.

BY ERIC VANRAES In August, macroeconomic data was strong in Europe and in the US. In the Eurozone, the PMI…

Good 2nd quarter earnings amidst a complicated environment

BY ERIC STURDZA In August a lot of attention was geared towards the slow global growth outlook, the Bank of…

The rally continues in August with strong southbound flows benefitting financials

BY LILIAN CO The MSCI China total return index rallied 7.4% in August. Strong southbound buying in anticipation of the…

Europe update

BY WILLEM VINKE The Fund’s benchmark was up 0.70% in August. NYMEX WTI CRUDE was up 7.45% on the month…

Continued outperformance as a result of satisfactory half year results for the portfolio over the summer

BY BERTRAND FAURE August continued the upward trend initiated in July on the back of satisfactory global half year results…

G-20 to use all available policy tools for solid and sustainable growth

BY YUTAKA UDA In August, the Japanese market rose as a result of the weakening Yen towards the end of…

Meet European Tour golfer Gregory Havret – our brand ambassador

EI Sturdza Investment Funds is proud to partner with leading French golfer Gregory Havret as part of our brand ambassador programme.

Eric Vanraes tells Investment Europe: ‘Draghi manages my Euro bond fund’

Eric Vanraes provided valuable observations and insights on major economic issues speaking to Adrien Paredes-Vanheule at Investment Europe, .

Risk appetite for emerging markets returns on renewed expectations of developed world easing

BY LILIAN CO The offshore China market rallied in July, thanks to risk appetite towards emerging markets returning on renewed…

Strong Credit rally supported by an expected increase of ECB’s stimulus and extension of BoE’s QE programme to corporates

In July, risky assets recovered strongly as the slowdown due to Brexit did not materialize. In line with equity markets,…

Europe in August

By WILLEM VINKE Positive noises from the central banks and the beginnings of political stability in the UK as Theresa…

July rebound almost compensated for June decline despite Brexit and Italian NPLs

BY BERTRAND FAURE Fears surrounding the consequences of the Brexit vote and the Italian banking situation disappeared as fast as…

A good start to second quarter earnings

BY ERIC STURDZA The month of July was dominated by second quarter earnings publications, a mixed bag of macroeconomic data…

The sizeable fiscal stimulus is beginning to take place

BY YUTAKA UDA At the beginning of the month, the risk-off market continued worldwide as nonperforming asset issues arose in…

The upcoming earnings season could be a strong catalyst for the Fund

BY ERIC STURDZA In June, the US market was predominantly concerned with May’s subpar payroll release and the UK’s referendum…

Europe in July

BY WILLEM VINKE The UK’s EU referendum and result impacted all markets and bond yields. The UK voted to leave…

The world does not come to an end with a Brexit but is has become more risky

BY BERTRAND FAURE After the long wait throughout the entire month of June, the UK voted with a majority of…

China indices resilient despite negative surprises in June

BY LILIAN CO June was an eventful month in which the results of the MSCI review into A share inclusion…

Focus turns to the timing and size of the supplementary budget

BY YUTAKA UDA In June, the Japanese market suffered its largest decline since the Greek crisis in May 2012. The…

Brexit and US job report push bond yields to record low

BY ERIC VANRAES In June, Brexit led to a flight to quality towards US Treasuries and Bunds. At the same…

Hold your breath before CSPP, the Fed and Brexit (?)

BY ERIC VANRAES In May, markets seemed to hold their breath before a busy and hectic month of June. In…

US consumer data generally encouraging in May

BY ERIC STURDZA The view that growth is rebounding in Q2 remained plausible during May, as economic indicators stayed supportive….

Absolute positive performance recorded in the first year of operations despite turbulent market conditions.

BY BERTRAND FAURE After a dreadful first week of May, European financial markets rebounded in the latter part of the…

Near term risks could create a buying opportunity

BY LILIAN CO The MSCI China index was down 1.02% in May with low turnover. Soft macro numbers and policy…

Concrete measures on fiscal stimulus lay ahead after large market events

BY YUTAKA UDA In May, optimism increased in the Japanese market as 1) The Yen depreciated against the US dollar,…

Europe in June

BY WILLLEM VINKE The Fund’s benchmark was up 2.28% in May, NYMEX WTI CRUDE was up 5.16% on the month…

EI Sturdza launches emerging market fixed income fund

EI Sturdza investment Funds is pleased to announce the launch of the EI Sturdza Strategic Quality Emerging Bond Fund. The…

US corporate and economic data in-line with cautious expectations

BY ERIC STURDZA The month of April was dominated by further earnings publications and balanced macroeconomic newsflow, helping the market…

March macro data beats expectations

BY LILIAN CO In April, Chinese stocks consolidated after a strong March. The MSCI China index was down slightly, returning…

The ECB will not reach its inflation target despite massive QE

BY ERIC VANRAES In April, concerns about Brexit and Greece in Europe combined with the US Presidential election and Dilma’s…

The Fed is still in wait and see mode

BY ERIC VANRAES In April, concerns about Brexit and Greece in Europe combined with the US Presidential election and Dilma’s…

Quarterly results so far reveal weak top line growth but satisfactory cost control and margin development for European companies

BY BERTRAND FAURE Despite annual and first quarter results being far from overwhelming, financial markets in April continued the upward…

Europe in April

BY WILLEM VINKE The Fund’s benchmark was up 1.92% in April with Central Banks all saying there is more they…

Sizeable economic stimulus package to be a trigger for sharp rally

BY YUTAKA UDA In April, Japanese equities continued to be volatile and were affected by 1) movements in the currency…

Eric Sturdza Investments wins at the Investors Choice Awards 2016

Strategic Europe Value Fund, managed by Willem Vinke, received the Investors Choice Award for Long Only Equity Fund – Long Term Performance.

Spreads rally thanks to Draghi and oil prices

In March, the major driver of the behaviour of financial markets was, by far, the ECB’s meeting on 10th March….

PSPP + CSPP = APP

BY ERIC VANRAES In March, the major driver of the behaviour of financial markets was, by far, the ECB’s meeting…

More Central Bank dovishness in March

BY ERIC STURDZA March followed a familiar pattern of mixed economic indicators. Employment-related statistics continued to show encouraging developments, with…

Europe in March

The Fund’s benchmark was up 1.33% in March due to actions taken by the ECB to improve liquidity. NYMEX WTI…

Central banks managed to stabilise the markets in March

BY BERTRAND FAURE A rebound in the oil price, a more accommodative tone from the Fed, better than  expected statistics…

Chinese Equities Rally in March

BY LILIAN CO Chinese equities staged a strong recovery in March, thanks to renewed stimulus measures from the Chinese government…

The Yen to stabilise in the short term

BY YUTAKA UDA In March, the Japanese market rebounded for the first time in 4 months. The implication by the…

Morningstar crowns EI Sturdza Strategic Europe Value Fund the best European equity fund in Germany and Switzerland

Eric Sturdza Investments won the Europe Equity category at the Morningstar Fund Awards 2016 held in Frankfurt.

More volatility in February

BY ERIC STURDZA The month of February was challenging for equities around the world. The MSCI US Index finished down -30bps,…

Absence of discrimination has always been a source of interesting opportunities

BY BERTRAND FAURE February was again a very volatile month for European financial markets. After a dreadful start through to 11th…

Commodity driven rally may be premature

BY LILIAN CO Chinese equities slid further in February after a dismal January. The MSCI China total return index and the…

Waiting for Super-Mario’s bazooka

BY ERIC VANRAES In February, all eyes were focused on the ECB’s next scheduled meeting on 10th March. In the global…

Economic stimulus to be focused more on fiscal policy

BY YUTAKA UDA The Japanese market again fell sharply in February due to rapid movements in Forex and long-term yields in…

Dear doves & hawks, the countdown is on

In February, all eyes were focused on the ECB’s next scheduled meeting on 10th March. In the global bond market, concerns…

Europe in February

BY WILLEM VINKE The Fund’s benchmark was off 2.2% in February following ongoing concerns regarding the health of the global economy,…

Winner takes all

BY LILIAN CO In September, Chinese equities kept trending up, with the MSCI China Index returning 0.84%. Compared to previous bull markets,…

2016 Started like 2015 ended

BY BERTRAND FAURE Unfortunately, 2016 started like 2015 ended, with a sharp sell-off! Renewed fears nourished by a Chinese slowdown,…

As expected, Treasuries rally…

BY ERIC VANRAES In January, all eyes were focused on every bad news item that could deteriorate the political and…

Global concerns

BY ERIC I. STURDZA The New Year marked a turn for the worst in risk aversion, concerns around the global…

Europe in January

BY WILLEM VINKE The Investment Adviser’s benchmark was down 6.22% in January following concerns regarding China, weakening oil prices and…

Mr ‘Whatever it Takes’ has ‘No limit’

BY ERIC VANRAES In January, all eyes were focused on every bad news item that could deteriorate the political and…

China is looking cheap

BY Lilian Co The stock market in China collapsed in the first month of 2016, dragging global markets with it….

The turning point should be coming soon

BY YUTAKA UDA Japanese equities declined sharply, more than most other major markets in January. In addition to concerns about…

Change of benchmark index

E.I. Sturdza Strategic Management Limited (EI Sturdza) would like to draw your attention to the Strategic US Momentum and Value…

Willem Vinke named as a manager to watch by Citywire Selector

Willem Vinke, portfolio manager of the Strategic Europe Value Fund, has been named as one of Citywire Selector’s “four fund managers on the rise” investing in European equities.

A dovish Fed tightening that raises more questions than answers

BY ERIC VANRAES AND PASCAL PERRONE In December, all eyes were focused on central bank meetings, expecting a massive bazooka…

European bond markets disappointed by a hawkish ECB easing

BY ERIC VANRAES AND PASCAL PERRONE In December, all eyes were focused on central bank meetings, expecting a massive bazooka…

‘Tis the season to be watchful

BY ERIC I. STURDZA The month of December staged a number of important developments for global markets, not least of…

Strong upside potential beyond political instabilities

BY YUTAKA UDA The Japanese market declined in December as a result of 1) risks to the global economic outlook,…

Europe in December 2015

BY WILLEM VINKE The Fund’s European benchmark was off 5.28% in December, although the benchmark traded more in line with…

Renminbi devaluation brings down EM currencies & commodity prices

BY LILIAN CO The market continued to drift downwards with the MSCI China index down 1.3% in December. Buying interest…

Sizable outperformance by the Fund in its first year of operations

BY BERTRAND FAURE After a satisfactory performance for two consecutive months with October at +8.08% and November at +2.81%, the…

A tough year ahead?

Portfolio manager Eric Vanraes discusses the future of the US economy, China’s slowdown, quantitative easing and currency markets in an article published in Business Brief. 

Willem Vinke recognised by L’Agefi Indices for significantly outperforming the sector

By Georges Gutmans   ​We are pleased to announce that Willem Vinke, portfolio manager of the EI Sturdza Strategic Europe…

Continued volatility in US equity markets on mixed economic data and a busy December schedule

BY ERIC STURDZA The month of November remained volatile for equity markets and for the Fund. News on the economic front…

Europe in November 2015

BY WILLEM VINKE The Fund’s European benchmark rallied 2.68% in November, outperforming lacklustre US equity markets as investors’ focus remained on the…

New growth strategy to lead Nikkei towards 25,000 in 2016

BY YUTAKA UDA In November, the stock market opened lower against a backdrop of clouded visibility regarding the Chinese economy and…

Super-Mario and the “whatever it takes” rule

BY ERIC VANRAES AND PASCAL PERRONE In November, the markets were looking for clues in central banks behaviour (their speeches in…

More easing or stimulus required to meet the government’s GDP growth target

BY LILIAN CO Profit taking emerged after a strong October with poor economic numbers and the non-stop arrest of government officials…

Fed: the markets are ready for a dovish tightening

BY ERIC VANRAES AND PASCAL PERRONE  In November, the markets were looking for clues in central banks behaviour (their speeches in…

Continued upward trend in European financial markets in November

BY BERTRAND FAURE Post a strong rebound in October, European markets continued their trend upwards in November. The Fund’s benchmark, the Eurostoxx…

Georges Gutmans presents the EI Sturdza Business Brief

In this business brief video, Georges Gutmans, managing director of E.I. Sturdza Strategic Management Limited, discusses the opportunities and challenges that affect…

Selecting Top Performers

We are happy to announce that the EI Sturdza Strategic Europe Value Fund is celebrating its fifth anniversary.

EI Sturdza celebrates 10 years of fund management success in Guernsey

E.I. Sturdza Strategic Management Limited celebrates its 10th anniversary on the Island of Guernsey.

Fundamental analysis and stock picking as important as ever in a volatile environment

BY BERTRAND FAURE Following the severe summer correction, financial markets in Europe sharply reversed their trend in October and posted their…

Europe in October

BY WILLEM VINKE October saw markets rally strongly, over 8% in Europe, alongside strong performances from most other global equity indices….

European bonds are (still) waiting for Super-Mario’s bazooka

BY ERIC VANRAES AND PASCAL PERRONE In October, all eyes were, again, focused on the FOMC meeting and the Fed’s…

Chinese stocks rebound after five straight months of declines

BY LILIAN CO Chinese stocks finally staged a rebound in October, thanks to a stabilising macro trend and a delayed rate…

A Fed rate hike could lead to a flatter curve: 30y is the sweet spot!

BY ERIC VANRAES AND PASCAL PERONE In October, all eyes were, again, focused on the FOMC meeting and the Fed’s…

Maintaining a defensive positioning amid a strong rally in the market

BY ERIC STURDZA The month of October was very strong for the S&P 500, rebounding back to its former highs…

Europe in September

BY WILLEM VINKE The MSCI Europe was off 4.44% in September on the back of weak data out of China, falling…

The disconnect between market perception in relation to the Chinese market is not sustainable

BY LILIAN CO In September the MSCI China and CSI300 declined by 3.05% and 4.9% respectively. Disappointing SOE reform plans and…

Confusion regarding Fed’s policy postpones anticipation for first rate hike

BY ERIC VANRAES & PASCAL PERRONE In September, all eyes were focused on the FOMC meeting and the Fed’s decision to raise…

Confusion regarding Fed’s policy postpones anticipation for first rate hike

In September, all eyes were focused on the FOMC meeting and the Fed’s decision to raise or not its Fed Funds…

Poor liquidity and spread widening

BY ERIC VANRAES & PASCAL PERRONE In September, all eyes were focused on the FOMC meeting and the Fed decision to…

A challenging month for US markets

BY ERIC STURDZA September was another challenging month for U.S. equity markets, finishing at -2.6% and exhibiting significant volatility in many…

US dollar weakness triggers a commodities recovery

BY YUTAKA UDA In September, the Japanese market declined sharply once again, following August’s trend. At the beginning of the…

Status quo for the US Federal Reserve following the worst quarter for financial markets since 2011

BY BERTRAND FAURE Stable until mid-month, financial markets in Europe became anxious regarding the risks of a global economic slowdown,…

Volatility makes quite the entrance

BY ERIC STURDZA The month of August saw global equity markets retrace meaningfully, triggered by fears of a global growth…

The US bond market is caught between China and the Fed

BY ERIC VANRAES & PASCAL PERRONE In August, nervousness reached a peak due to uncertainties driven by Greece, commodity prices,…

Poor liquidity and Draghi’s QE highlights the attractiveness of PSPP bonds

BY ERIC VANRAES & PASCAL PERRONE In August, nervousness reached a peak due to uncertainties driven by Greece, commodity prices,…

The market has overreacted to the devaluation of the Renminbi

BY LILIAN CO The sell-off in HK/China equity markets gathered speed in August, with MSCI China and CSI300 indices tumbling…

First sizable correction since 2011 in the context of uncertainty over global growth and volatility of emerging markets currencies

BY BERTRAND FAURE In August, global financial markets experienced their first sizable correction in three years. In the US, the…

Companies must deliver on expectations

BY WILLEM VINKE The VIX spiked to above 50 in August as news flow from China worsened. US equity markets…

The market to stabilise soon with China risk manageable

BY YUTAKA UDA In early August market sentiment in Japan was high, reflecting the 1Q company results which on average…

September 2015 – Market and Macro update

BY ERIC VANRAES After a series of volatile days in the markets (stocks, bonds, forex…) EI Sturdza would like to…

EI Sturdza Strategic US Momentum & Value Fund is Awarded a 5-Star Morningstar Rating

Morningstar has recently awarded a 5 star rating to EI Sturdza’s Strategic US Momentum & Value Fund, recognising its performance…

EI Sturdza achieves multiple Citywire ratings

We are proud to announce that Citywire has awarded recognition to a number of our fund managers via their Manager Ratings platform.

Eric Vanraes on the ECB’s bond purchases

Eric Vanraes, fixed income portfolio manager at EI Sturzda Investment Funds provides his feedback on the ECB’s bond purchases and the…

Our portfolio managers on current market turblulences

THE VIEWS OF OUR PORTFOLIO MANAGERS ​WILLEM VINKE Strategic Europe Value Fund The fact that China devalued its currency some days…

Europe in July

BY WILLEM VINKE The Greek bailout and better than expected economic data in both the US and the Eurozone, saw…

U.S. equities rebound, China worries linger

BY ERIC STURDZA The month of July was generally positive for the US Equity market, with the S&P 500 delivering…

The Fed seems ready to hike in September despite growing international issues

BY ERIC VANRAES & PASCAL PERRONE In July, the markets were still very nervous due to the Greek crisis. Fears…

The eyes focused on Greece in July, who cares about PSPP?

BY ERIC VANRAES In July, the markets were still very nervous due to the Greek crisis. Fears of Grexit and…

Asset bubble to start as vacancy rates declined below 5% level

BY YUTAKA UDA In July, the Japanese market was volatile as the result of external macro developments such as the Greek…

Little discrimination in July post agreement between Greece and its creditors

BY BERTRAND FAURE European markets recorded a +4.01% performance in July and recovered most of their negative performance of the…

Investors expected to revisit fundamentals – once dust has settled…

BY LILIAN CO The market downward trend extended to July with major China indices such as the MSCI China and…

Q2 Commentary

BY ERIC STURDZA The second quarter of 2015 carried a few interrogations. Whether regarding the US domestic economic impact of…

First advanced economy defaults on IMF Loan

BY WILLEM VINKE The focus of European investors remained on Greece throughout most of June, with the MXEU ending down 4.78%…

Fears of Grexit and poor liquidity put pressure on Bund, corporate spreads and the ECB

BY ERIC VANRAES & PASCAL PERRONE In June, the behaviour of the markets has been led by one question: Grexit or Grin, default…

A steeper US Treasury curve due to Greece offers buying opportunities on the long end

BY ERIC VANRAES & PASCAL PERRONE In June, the behaviour of the markets has been led by one question: Grexit…

Stock market plunge does not represent systematic risk

BY LILIAN CO China A shares tumbled in June with major indices down between 29 to 35% in one single…

Higher productivity is the key word

BY YUTAKA UDA At the beginning of June, the Japanese market continued to rise maintaining the momentum from the end…

Macro/Market Update by Lilian Co

Lilian Co provides an update on the Fund’s positioning and her insights on macro and market.

International Developments Affecting Global Risk Aversion

BY ERIC STURDZA The month of June saw the US equity market give back most of its 2015 gains, while…

EI Sturdza Investment Funds Launches The European Smaller Companies Fund

The EI Sturdza Investment Funds announced the launch of the EI Sturdza Strategic European Smaller Companies Fund. The fund will be…

Market volatility should provide interesting opportunities in the coming months for the Fund

BY BERTRAND FAURE In June, European markets were down heavily (-4.49%). Most of the negative performance occurred in the last…

Macroeconomic Update

MACRO BACKDROP Markets have recently been driven by different events such as Greece, the Chinese slowdown, the normalisation of the…

US and European markets advance, due to expectation of growth acceleration in 2H 2015

BY WILLEM VINKE In May, US and European equity markets advanced cautiously higher, with US indices reaching new highs on…

The Fed is ready to start normalising its monetary policy…but at which pace

BY ERIC VANRAES & PASCAL PERRONE In May, US economic statistics recovered with manufacturing activity, leading indicators and employment figures…

Poor liquidity, Greece and signs of recovery push Bund’s volatility to record high

BY ERIC VANRAES & PASCAL PERRONE In May, US economic statistics recovered with manufacturing activity, leading indicators and employment figures…

China’s A and H shares market diverge in April, with initiatives failing to cool the sizzling hot A share market

BY LILIAN CO In May, the performance of A shares and HK listed Chinese stocks diverged, with the MSCI China…

Future Expectations gain traction as ambiguous macro data dominates Q1

BY ERIC STURDZA Inconclusive macroeconomic data remained center stage this month and led to somewhat subdued stock market performance. While…

Volatility is Back

Analysts say the four planets are in alignment but what does that mean for the market? Eric Vanraes, EI Sturdza. 

Strong economic data to stimulate Investors’ appetite

BY YUTAKA UDA The Japanese market rose for the fifth consecutive month in May. The Market Cap of the Tokyo…

Yutaka Uda discusses Japanese equities

Yutaka Uda, portfolio manager of EI Sturdza Nippon Growth (UCITS) Fund, discusses the four key elements of the increasing prosperity…

Asset TV Fixed Income Masterclass featuring EI Sturdza’s Eric Vanraes

Eric Vanraes of the EI Sturdza Strategic Global Bond Fund is one of the three expert panelists on the Asset TV Masterclass on fixed income.

US: a temporary steepening of the curve ahead of a cautious Fed’s stance

BY ERIC VANRAES & PASCAL PERRONE  In April, European economies continued to show signs of improvement whilst US economic statistics…

Eurozone: ECB’s QE offset by economic improvements and Greece’s collapse?

BY ERIC VANRAES & PASCAL PERRONE In April, European economies continued to show signs of improvement whilst US economic statistics…

SCPF: Chinese Stocks rally across the board

BY LILIAN CO Momentum in China stocks accelerated in April after an encouraging speech by Premier Li and positive comments…

A short rest before another jump

BY YUTAKA UDA The Japanese market rose for the fourth consecutive month in April. At the beginning of the month,…

Europe looking for growth

BY WILLEM VINKE April provided the first insight into corporate profitability, the results were mixed with developed markets generally traded…

Lofoten Asset Management announces a new addition to the EI Sturdza Strategic Europe Value Fund team

Lofoten Asset Management announces a new addition to the EI Sturdza Strategic Europe Value Fund team following widespread interest in…

Good earnings results meet ambiguous macroeconomic data

BY ERIC STURDZA The month of April was dominated by earning publications and further interrogations around the US macroeconomic picture….

US equities catch their breath in the first quarter

BY ERIC STURDZA On the cusp of the New Year, we looked back in awe at 2014 and at how distinct…

Important Information for Investors

Closure of the EI Sturdza Emerging Europe Fund The fund’s portfolio manager has believed and continues to believe that the…

Green shoots spotted

BY WILLEM VINKE The period of cheap oil and supportive central banks continues. In Europe, green shoots continue to be…

Draghi’s bazooka is stronger than Grexit fears

BY ERIC VANRAES & PASCAL PERRONE In March, the European economy continued to show signs of improvement while US economic statistics…

Premier Li speech boosts Chinese stocks, with more measures to support the economy

BY LILIAN CO China stocks continued to rally, thanks to ongoing easing policies and a supportive speech by Premier Li….

The Fed will be more “Patient” than ever…

BY ERIC VANRAES & PASCAL PERRONE In March, the European economy continued to show signs of improvement while US economic statistics…

Investing in European equities – not afraid to be “boring”

Mr Vinke, you are the portfolio manager of the EI Sturdza Strategic Europe Value Fund. Can you give us more…

Further consolidation leads to soft first quarter for U.S. equity markets

BY ERIC STURDZA The month of March saw the U.S. equity market decline by -1.74% while the Fund returned -0.16%,…

CAPEX to lead a strong economic recovery

BY YUTAKA UDA In March the Japanese market showed a marginal rise by the end of the month with the…

Investieren in europäische Aktien: keine Angst vor „Langeweile“

Herr Vinke, Sie sind Portfoliomanager des EI Sturdza Strategic Europe Value Fund. Wodurch zeichnet sich dieser Fonds aus? Die Strategie…

Getting ready for QE

BY WILLEM VINKE Both equity and bond markets continued to react positively to the anticipated rise in liquidity and asset…

Ample room for RRR and interest rate cuts

BY LILIAN CO Chinese share markets were buoyant in February, with the CSI 300 and the MSCI China indices up…

Currency wars become a yield war

BY ERIC VANRAES & PASCAL PERRONE In February, Central bank stimulus and deflation fears led to record-low yields. As the currency war continued, many…

QE and the alignment of planets

BY ERIC VANRAES & PASCAL PERRONE In February, Central bank stimulus and deflation fears led to record-low yields. As the currency…

How China equity investors can play weak euro

Lilian Co, portfolio manager of the Strategic China Panda Fund discusses some big trends which are developing in 2015, such as: “weak euro, strong…

Lilian Co’s thoughts on China’s GDP growth target

China reported 7.4% GDP growth in 2014, roughly in line with the government’s target of 7.5%.

Markets recover quickly as oil prices start to rise

BY YUTAKA UDA In February the Japanese market showed a rise across the board especially towards the end of the…

Strong February, yet currency headwinds persist

BY ERIC STURDZA February was a strong month for US equity markets, with the S&P 500 Index quickly reversing its…

US fixed-income markets performances exceed expectations

BY ERIC VANRAES & PASCAL PERRONE US fixed-income markets performances in January exceeded expectations as economic data was disappointing in…

ECB announce first QE boost

BY ERIC VANRAES & PASCAL PERRONE Despite improvements in business confidence, Eurozone growth remained sluggish and inflation fell into negative…

Chinese property sector benefits from relaxation measures

Whilst January proved an anti-climax for A shares. H shares played catch up, having lagged the A share market by a significant margin in December. There was divergent performance between the two China markets, with the MSCI China Index up 2.3% whilst the CSI 300 Index was down 2.8% during the month.

Larger than expected QE results in strong rally of European Equities

BY WILLEM VINKE  The announcement by the European Central Bank (ECB) of a larger than expected quantitative easing (QE) programme…

No January effect as markets ponder macro, currencies, oil and earnings

BY ERIC STURDZA January was marked by a number of developments on the global macroeconomic stage, adding volatility to the…

Japanese economy on course for a sound recovery

BY YUTAKA UDA During January the Japanese market continued the trend from the end of 2014 and, due to concerns over…

Sturdza confident staying slim serves an advantage

An interview with Eric I. Sturdza exploring a brief history of the private banking business of the firm, then moving onto their ability to react to market turmoil.

Eric Vanraes d’EI Sturdza sur les allocations d’actifs

Eric Vanraes, responsable des taux chez E.I. Sturdza, en a conclu qu’une révision complète des allocations était à l’ordre du…

ECB QE: A ‘Swissification’ not ‘Japanification’

Eric Vanraes, portfolio manager at EI Sturdza Investment Funds discusses the European QE announcement and its impact on bond markets worldwide. Eric…

Strategic US Momentum & Value Fund – Q4 Commentary

The last quarter of the year wound to a close accompanied by a sense of wonder at how distinct 2014…

2015 outlook for Europe

Portfolio manager Willem Vinke provides his 2015 outlook for Europe via webcast.

FED call for “patience”

By Willem Vinke December saw equity markets fall sharply in the first half of the month as lower oil prices were somewhat…

Rally in long term US yields (10 & 30 year) expected

By Eric Vanraes and Pascal Perrone In December, the main drivers of fixed-income markets were deflationary fears (and their spread into the…

Japanese economy already on course for a sound recovery

By Yutaka Uda In December, the Japanese market rallied consecutively for seven days at the beginning of the month and the Nikkei…

ECB President Mr Draghi: “all assets but gold are under consideration”

By Eric Vanraes and Pascal Perrone In December, the main drivers of fixed-income markets were deflationary fears (and their spread into the…

‘A’ Share market the focus of the month

By Lilian Co Bullish sentiment extended into December as investors bet on more monetary easing after the surprise rate cut in November….

Positive US employment and retail stats above expectations

BY ERIC STURDZA December saw the now usual ingredients of positive economic activity and subdued inflation served in double rations….

A year-end rally in Europe remains possible

By Willem Vinke Weak Eurozone Purchasing Managers survey results in November, coupled with disappointing economic data from China, led to mounting expectations…

Chinese stocks experienced a roller coaster ride in November

By Lilian Co Chinese stocks experienced a roller coaster ride in November. The disappointing northbound buying of A shares after the…

European economic forecasts are still expected to be cut further

By Eric Vanraes and Pascal Perrone In November, European government bond yields fell to all-time lows fuelled by speculation that…

The European government bond yields fell to all-time lows in November

By Eric Vanraes and Pascal Perrone In November, the European government bond yields fell to all-time lows fuelled by speculation that the European…

November was a one-sided month for US equities

By Eric Sturdza November was a one-sided month for US equities as stocks extended the rebound initiated on 17 October…

The Japanese economy is recovering after temporary and technical stagnation in 2Q and 3Q 2014

By Yutaka Uda In November, Japanese markets continued to rally triggered by two announcements on 31st October: the BOJ’s announcement…

The assets of the Fund increased further during the month of October

By Eric Vanraes and Pascal Perrone In October, the European Central Bank (ECB) kept interest rates unchanged and started its covered…

There is some sign that the Japanese economy may come back to a healthy trend of growth

By Yutaka Uda In October, the Nikkei 225 Index recorded new year-to-date highs on the last day of the month….

October proved to be challenging for financial markets

By Eric Sturdza Following a correction of -9.8% peak to trough, from 19th September’s highs to 15th October’s lows, the…

The Fund outperformed its benchmark index in October

By Willem Vinke During the first half of October, global equity markets fell sharply due to investors’ concern over faltering economic…

The Chinese stock markets rebounded following a weak month

By Lilian Co The Chinese stock markets rebounded following a weak month in September. The growth scares in the US…

Victory for team EI Sturdza at the Hublot Polo Gold Cup in Gstaad 2014

EI Sturdza win at the Hublot Polo Gold Cup Final in Gstaad 2014, with an unstoppable five goal lead.

Lilian Co talks to L’Agefi TV about China

In a L’Agefi TV interview with Lilian Co – portfolio manager for the Strategic China Panda Fund – discussed the prospect of Chinese equities, which she says are “dirt cheap,” in light of the country’s slowing growth.

Yutaka Uda talks on L’agefi TV about prospects for Japanese growth

Yutaka Uda was interviewed by L’agefi Live TV in Switzerland about prospects for Japanese growth and the impact of the recent…

L’Agefi Suisse: Eric Sturdza Investments wins Lipper Fund Awards

Eric Sturdza Investments won Best Equity Group (small) category based on three year consistent returns at the 2014 Lipper Fund Awards in Europe, Austria and Germany. 

Lipper names EI Sturdza Investment Funds best equity fund group

EI Sturdza Investments is pleased to announce that the company has won three Lipper Fund Awards – the prestigious ‘Group…

The economic situation deteriorated further in Europe say Eric Vanraes and Pascal Perrone

By Eric Vanraes and Pascal Perrone In September, the European Central Bank (ECB) cut interest rates and announced additional measures including…

Willem Vinke discusses European equities and bond markets

By Willem Vinke European equities eked out small gains in September, with bond markets broadly unchanged. The foreign exchange market…

September was again a tale of two markets

The month of September was again a tale of two markets, initially extending the August rebound to new highs swiftly followed by the first leg of a correction, ongoing at the time of writing.

In September, both the TOPIX Index and the Nikkei 225 Index recorded new year-to-date highs

The Nikkei 225 Index closed the month at 16,173.5 (up 4.9% MoM) and the TOPIX Index at 1,326.3 (up 3.8%…

The economic situation deteriorated further in Europe

By Eric Vanraes and Pascal Perrone In September, the European Central Bank (ECB) cut interest rates and announced additional measures including a…

A meaningful market correction finally materialized in September

By Lilian Co With the MSCI China Index tumbling 6.6% after it had recovered 22.5% from the lows seen in March. Softening…

Willem Vinke discusses the EI Sturdza Strategic Europe Value Fund

Portfolio manager Willem Vinke has built a European portfolio with a preference for high quality businesses trading at discounted prices and is a bottom-up stock picker who has been managing portfolios within the same discount to cashflow framework for over 20 years.

Chinese growth story is far from over

Lilian Co, portfolio manager, provides insight on the Fund’s naming, aims and strategy as well as the Fund’s investment philosophy and process.

Eric I. Sturdza and Georges Gutmans talk about their vision for EI Sturdza

Eric I. Sturdza and Georges Gutmans talk about their vision for EI Sturdza.

Eric I. Sturdza

President of the Sturdza Banking Group, Eric Sturdza’s distinguished career in Asset Management and Private Banking spans more than four decades.

Georges Gutmans

Georges is the Director of E.I. Sturdza Strategic Management Limited (“Eric Sturdza Investments”), a position held since January 2017, having been Managing Director of the Company from late 2005.

Peter Lindqvist

Peter Lindqvist joined Eric Sturdza Investments in December 2019 as Chief Executive Officer. Peter is responsible for developing the asset and fund management business throughout the Sturdza group.

Brenda Petsche

Brenda joined Eric Sturdza Investments in October 2014 as Head of Operations to assist Georges Gutmans with business strategy and to bolster the local management team. Brenda became the Managing Director of the Company in December 2016.

Andy Fish

Andy joined E.I. Sturdza Strategic Management Limited in 2015 from HSBC Private Bank where he was head of the Finance function for the Guernsey, Jersey and Isle of Man operations.

Adam Turberville

Adam joined E.I. Sturdza Strategic Management Limited in September 2007 to concentrate on the development of marketing opportunities and client relations.

Rose Toussaint-Stephens

Rose joined Eric Sturdza Investments in 2016 as Head of Legal and Product Development. She qualified as a solicitor in the United Kingdom and has a wide range of experience in respect of corporate and commercial matters as well as regulatory issues.

Luís Brito, CFA

Luís joined Eric Sturdza Investments early in 2014 as a Portfolio Risk Manager. Prior to joining EI Sturdza Strategic Management Limited, he was an Investment Analyst for Asset Risk Consultants (ARC) from 2009 to 2013, where he provided investment consulting services to both private and institutional clients.

Sharron Perryman

Richard Taylor

Richard is a highly experienced investment professional having worked in the finance industry for in excess of twenty years. He joined EI Sturdza Strategic Management Limited in 2010 with a remit to set up a Guernsey-based trading function, which currently trades equities and derivative instruments for US, Japanese and European mandates, whilst also taking care of the FX needs of the majority of the company’s Funds.

Eric Sturdza Group

Eric Sturdza Investments is part of the Swiss private banking group, the Eric Sturdza Group.

Lilian Co

Lilian Co has over 20 years’ experience investing in Chinese and Asian equities. After a successful fund management career with Baring Asset Management, Lilian now continues her award-winning investment style with E.I. Sturdza Strategic Management Limited and the Strategic China Panda Fund.

Bertrand Faure

Bertrand Faure has been Managing Director of the Investment Adviser since its inception in 2002. Prior to joining the Investment Adviser he worked for Och-Ziff Capital Management Group in London between 1999 and 2001 as a hedge fund manager focusing on merger arbitrage and event-driven investments.

Eric I. Sturdza

Eric Sturdza’s distinguished career in Asset Management and Private Banking spans more than four decades.

Constantin Sturdza

Constantin has been actively managing US equities for over 5 years. He previously trained at Clarkson’s (London) as a broker in Deep Sea Tankers and thereafter worked in operations for Nereus Shipping. He holds a Bachelor’s degree in Economics from Rollins College, where he co-founded the International Business Club.

Yutaka Uda

Yutaka Uda has been the President and CIO of Evarich Asset Management since its establishment in 2002 He has over 40 years’ experience in the Japanese market having commenced his career in finance at Nikko Securities as an Analyst in 1971.

Eric Vanraes

Eric Vanraes is head of fixed income investments at Banque Eric Sturdza SA, where he has been employed since July 2008. Eric has been a fixed income specialist since his career in finance began in 1991.

Willem Vinke

Willem is the CEO and CIO of Lofoten Asset Management, the Investment Adviser to the Strategic Europe Value Fund and Strategic Global Quality Fund, with Willem acting as the Portfolio Manager.

Mitsuhiro Yuasa

Mitsuhiro Yuasa has over 26 years investment experience and co-founded Rheos in 2003 following a career at Rothschild Asset Management and Gartmore Asset Management.

James Wellwood

Laura Campbell

Innovative Management Model

Jerome Papailhau

Marc Craquelin

Marc has extensive experience within the industry, having held senior positions at Finacor, EBPF, LFDE and finally at La Financière De L’Echiquier (LFDE) since 1986.

Damir Zjacic

Eric De Serigny

Eric Sturdza Investments

Partnership

Investment Mandate Services