Factsheet Africa 2020-06

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Factsheet Africa 2020-06 meet the quality requirements. The weighting(23.3%), of Morocco a country (20.7%), is and therefore Nigeria mainlyThe (18.1%). determined by These fund the markets currently relative currently holds attractiveness have of positions the the in most 30 interesting stocks high in dividendeconomic 7 impact. shares different To that further countries. boost The the economy, countries thethis Nigerian with Senate recovery, the has Nigerian approved largest a banks $ weightings 5.5In have billion are stimulus Nigeria asked Egypt package. there the are also central signssince bank February, of suggesting for economic more confidence stabilization. permission among Particularly investors. to theincreased restructure strong rose recovery its from in loan 40.7 the in oil portfoliosgovernment May price has because to was now lifted of 44.6 positive. a Despite in the number of June. restrictions,The In as companies economic addition, adapted capital by damage firing inflows staff probably into andAfrican cutting is countries the salaries. is country past The relatively young Egyptian have and PMI its resumed fewer people worst forcan have quickly the overweight, in roll making first out them Egypt. many less time of susceptible Activity the to proceduresvulnerable the indicators and to virus. precautions deteriorated the they have rapid at taken spread against a of Ebola.Compared In the slower to addition, coronavirus the other pace than population parts in many in many people oflast June. fear, month, the The partly but world, the caused biggest the to loser their this numbermarket month experiences of (-4.0%). was with In corona the Morocco, Ebola. with cases biggest They a loser, in 20% weighting butIn Africa in in the June, is June fund, the the relatively it stock fund was low. market was the rose African by 1.4% biggest countries 1%. higher winner may at (5.0%). The be the Nigerian less end stock of market the was month, the biggest while winner the benchmark index fell 0.5%. In May, the Egyptian stock Luxembourg in units of TCM Africa High DividendAfrica. Equity To (Lux). achieve The its Fund objective, qualifies the as Fund feeder-structure. investsdividend 95% pay to outs. 100% The of risk its profile total is assets veryinternational through high, developments. TCM due The Investment to investment Funds investments policy being of channelled the into fundrelationship frontier/emerging will between markets be global in aimed financial at markets achieving and capital African growthfocus markets as on is well Egypt, low, Morocco as because and the Nigeria. latter In are addition,The less it fund sensitive will is to an invest in equity fund, Kenya, investing Ghana, in Botswana listed and shares Mauritius. in The the northern and sub-Sahara regions of Africa. Initially it will market compared to other countries. Fund Profile Fund Performance The Fund Manager writes ** Data is from inception of the* fund: 31-03-2008 Based on Total Return (Bloomberg data) Africa ex SA TR TCM Africa High Dividend Return in euro* % 100 120 140 160 180 200 220 240 80 12/2011 03/2012 06/2012 09/2012 12/2012 03/2013 06/2013 1 mnth 09/2013 -0.47% TCM Africa High Dividend Equity 1.42% 12/2013 03/2014 06/2014 3 mnths 11.11% 7.85% 09/2014 12/2014 03/2015 -20.17% -23.93% 06/2015 2020 09/2015 12/2015 03/2016 18.96% 06/2016 8.64% 2019 09/2016 12/2016 03/2017 -12.25% -8.62% 2018 06/2017 Africa ex. SA TR 09/2017 12/2017 21.23% 03/2018 7.31% 2017 06/2018 09/2018 12/2018 -5.12% -1.91% 03/2019 2016 06/2019 09/2019 -30.89% -37.24% start** 12/2019 Since 03/2020 30 June 2020 06/2020 Marco Balk Wytze Riemersma Frontier Markets Team Fund Management: TRUSTUS Capital Management Management Company: 0.5%. against NAV with negative deviation of deviation of 0.5% and buy back sell shares against NAV with a positive broker. On trading days the fund willtrading days through any bank or means thatthe fund can be tradedThe on fund is listed on Euronext, which Trading: Benchmark: website) (for historical dividends check the 2020-05: Dividend payment: least once a year Dividend: long term capital appreciation Aim: Structure: Start Date: Number of Shares: Total Net Assets : Share Price: Net Asset Value: Bloomberg Ticker: ISIN Code: 2.76% (Budget 2020) Ongoing Charges Figure: level of the Master fund in Luxembourg) (these costs will only be charged atPerformance the fee: Management Fee: Master fund in Luxembourg) Index TR (3 years, 30-6-2020) Morningstar Rating high dividend income as well as ڪ (this is the benchmark of the 0.45 gross dps ± 4% per annum, payable at Open end NL0006173007 31 March 2008 ڪ Africa ex South Africa 9.31 ڪ ڪ 10% 1,5% per annum ҹ 9.26 TCMAF NA 867,192 8.0 million Sector Allocation Top 10 Holdings Financials 35.14% Position Weighting Communication Services 14.08% Marsa Maroc Industrials 11.96% 5.24% Maroc Telecom 5.00% Cash 10.15% Safaricom Plc 4.69% Consumer Staples 9.07% Airtel Africa Plc 4.39% Materials 6.86% Compagnie Miniere De Touissi 4.28% Health Care 6.38% Commercial International Ban 4.25% Consumer Discretionary 6.36% Zenith Bank Plc 4.13% United Bank For Africa Plc Energy 0.00% 4.03% Total Maroc Sa 3.95% Real Estate 0.00% East African Breweries Ltd 3.92% Information Technology 0.00% Utilities 0.00% Total weightings Top 10 43.89% Country Allocation Fund Characteristics AFRICA Egypt 23.34% Characteristics Fund ex SA Morocco 20.70% Nigeria 18.09% Number of positions 30 32 Kenya 16.33% Dividend Yield in %* 7.88 4.93 Cash 10.15% Price/Earnings Ratio* 9.78 9.35 United Kingdom 4.39% Ghana 3.39% Price to Book Ratio * 1.19 1.94 Botswana 2.13% * source: Bloomberg/TCM South Africa 1.47% The above data refers to the underlying portfolio of the master fund in Luxembourg in which the Dutch feeder fund invests for 95% to 100%. Sustainability TCM has entered into an agreement with Sustainalytics for the screening of the portfolios of the TCM equity funds on ESG criteria (UN Global Compact and Controversial Weapons). Morningstar Copyright © Morningstar Benelux. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete of timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Disclaimer No rights may be derived from this publication. You are referred to the prospectus and Key Investor Information Document for the fund's terms and conditions. These documents may be obtained from the website or the address mentioned above. The manager of IIF has obtained a licence for this fund from the Netherlands Authority for the Financial Markets in accordance with the provisions of the Financial Supervision. Contact Information Sewei 2, 8501 SP Joure, The Netherlands +31 (0)513 48 22 00 info@tcminvestmentfunds.nl www.tcminvestmentfunds.nl.
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