On its 30th anniversary, the AAA Actions Agro Alimentaire fund boasts a performance of 9.6% per annum since inception
Created in 1985, AAA Actions Agro Alimentaire, a Fonds Commun de Placement (French mutual fund) managed by Natixis Asset Management, is celebrating its 30th anniversary and has turned in an annualised performance of 9.6%1 with lower volatility than the major equity indices2. Invested in the food and consumer sectors, AAA Actions Agro Alimentaire benefits from a conviction-driven active management in a defensive universe made up of predominantly European, as well as international, companies to take advantage of the various global dynamics.
A buoyant theme : food and consumption
Traditionally defensive, the food and consumer sectors offer particularly attractive opportunities:
- By past standards, these companies are less sensitive to economic cycles - they generate steady results and are often referred to as “safe-haven stocks”;
- These companies are boosted by product innovation and investment;
- Placing emerging countries at the heart of their strategy, these companies benefit from dynamic domestic consumption resulting from the growth of the middle classes and improvement of their purchasing power.
A conviction-driven active management
AAA Actions Agro Alimentaire has been managed for 20 years by Françoise Lafitte, who has in-depth knowledge of each company in the food and consumer sectors as well as a thorough understanding of the growth dynamics of these sectors. To this end, the investment management team holds close to 100 meetings each year with company leaders. The fund benefits from a conviction-driven active management, without any benchmark replication. The portfolio of AAA Actions Agro Alimentaire is comprised of around 60 stocks out of roughly 820 “food and consumer” stocks listed mainly in Europe but also internationally. AAA Actions Agro Alimentaire is invested in companies3 such as: Anheuser Bush Inbev, Danone, Carrefour, Inditex, Sodexo and Unilever.
“We are confident that AAA Actions Agro Alimentaire will continue to offer investors attractive long-term return prospects. Consumer brands worldwide have significant growth potential. Our scenario is notably underpinned by the development of an emerging middle class that should express growing consumption needs,” comments Françoise Lafitte, fund manager of AAA Actions Agro Alimentaire at Natixis Asset Management.
Marketed by the Banque Populaire and Caisse d'Epargne networks, AAA Actions Agro Alimentaire is eligible for the French Equity Savings Plan (PEA), life insurance policies and securities accounts. The fund is designed for all types of investors (institutional, corporate and retail).
1 As at 30 April 2015. R Share. Source: Natixis Asset Management. Figures mentioned refer to past years. Past performance is not a reliable indicator of future performance.
2 Since the fund’s inception, volatility has been 25% lower on average than that of major equity indices.
3 As at 30 April 2015. Source: Natixis Asset Management.
About Natixis Asset Management
With assets under management of €333.5 billion and 648 employees (1), Natixis Asset Management ranks among the leading European asset managers.
Natixis Asset Management offers its clients (institutional investors, companies, private banks, retail banks and other distribution networks) tailored, innovative and efficient solutions organized into 6 investment divisions: Fixed Income, European Equities, Investment and Client Solutions, Structured and Volatility (developed by Seeyond(2)), Global Emerging Equities, and Responsible Investing (developed by Mirova(3)).
(1) Source: Natixis Asset Management – as at 31 March 2015.
(2) Seeyond is a brand of Natixis Asset Management.
(3) Mirova is a subsidiary of Natixis Asset Management.
Natixis is the corporate, investment, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 36 million clients spread over two retail banking networks, Banque Populaire and Caisse d’Epargne.
With more than 16,000 employees, Natixis has a number of areas of expertise that are organized into three main business lines: Wholesale Banking, Investment Solutions & Insurance, and Specialized Financial Services.
A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE’s banking networks.
Source: Natixis - As at 31 March 2015
Natixis Asset Management
+33 (0)1 78 40 81 85
+ 33 (1) 58 19 47 41
1. Françoise Lafitte, fund manager, AAA Actions Agro Alimentaire, Natixis Asset Management
Françoise Lafitte has been the manager of AAA Actions Agro Alimentaire for 20 years. She has over 30 years’ experience in finance, specialising in the food and consumer sectors.
She started her career in 1982 as a management assistant at Merrill Lynch Paris. A year later, she became management controller at Vernhes, a wholesale distributor of wine, spirits and coffee. In 1985, Françoise Lafitte was appointed financial analyst, focusing first on the French retail sector at the Caisse des Dépôts and then on food industry and retail at the Caisse Centrale des Banques Populaires in 1988.
She was entrusted with the management of AAA Actions Agro Alimentaire in 1995. The fund’s conviction-driven approach enabled her to develop her sector coverage as a Specialist Fund Manager, extending it first to Europe then worldwide.
Françoise Lafitte holds a master's degree in finance from the University of Paris-Dauphine. She is a graduate of the National Association of Security Dealers and member of the SFAF.
2. AAA Actions Agro Alimentaire - Fund features
Management company : Natixis Asset Management
Legal structure : French mutual fund (Fonds Commun de Placement, FCP) - UCITS
AMF Category : International Equities
Feeder fund : No
Recommended investment horizon : 5 years
Reference currency : Euro
Reference index : MSCI Europe (closing price, net dividends reinvested in euros).
Equity index expressed in euros comprised of around 450 European stocks, reflecting price
changes in the main European stock markets.
The MSCI Europe index may be consulted at www.mscibarra.com.
Inception date : 1985 (SICAV) – 12 May 2004 (FCP)
ISIN Code : I/C (EUR) – FR0010152967
R/C (EUR) – FR0010058529
Eligibility : Ordinary securities account, French Equity Savings Plan (PEA), life insurance policy and
Minimum initial subscription : I – €50,000
R – One hundredth of a unit
Minimum subsequent subscription : I – One ten-thousandth of a unit
R – One hundredth of a unit
Maximum subscription fees (1) : I – None
R – 2% per tranche of 1 to 999 shares or
Management fees (2) : I – 1.25% p.a., R – 1.794% p.a.
Initial net asset value : €417.84 (at the fund's inception on 12 May 2004)
Net asset value calculation : Daily
Risk scale (3) : 1 2 3 4 5 6 7
In accordance with existing regulations, details on the remuneration relating to the marketing of this product are available to clients on request.
1. Not paid to the UCITS. Excluding costs related to the investment framework.
2. Maximum operating and management fees incl. taxes, as a percentage of net assets. Except in cases of exemption. The management company is authorised to receive turnover fees.
3. The risk-return scale is an indicator ranked from 1 to 7 which corresponds to increasing levels of risk and return, providing an indication of a Fund’s performance potential compared to the risk it presents. It follows a regulatory methodology based on the annualised volatility calculated based on weekly returns over five years. This indicator is periodically reviewed and may change.
The Fund invests primarily in international equities. Equity investments are likely to experience significant price fluctuations. The Fund is exposed to specific risks, including risk of capital loss, equity risk, interest rate risk, credit risk, currency risk, counterparty risk, and risks related to small and medium capitalisation companies. The capital invested is not guaranteed. For a more complete description of risks, please refer to the fund prospectus available on the website of Natixis Asset Management: http://www.nam.natixis.com/