DOCSLIB.ORG

AXA WF Framlington Italy

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
AXA WF Framlington Italy This promotional document is not for Retail distribution: this document is intended exclusively for Professional, Institutional, Qualified or Wholesale Investors / Clients, as defined by applicable local laws and regulation. Circulation must be restricted accordingly. AXA WF Framlington Italy Gilles Guibout, Head of European Equities Investment Team FRAMLINGTON EQUITIES October 2020 AXA IM Framlington Equities Our offering Key EXPERTISE PROCESS Figures1 • Our core philosophy: Growth at a reasonable price • Active management grounded in rigorous €42 • Proprietary research is at the heart of our stock fundamental research billion of assets selection process (Portfolio Manager/Analyst • Long-term conviction based approach, on average 4-5 model) year holding period2 Managed across • Judgmental approach with an emphasis on • Time tested and consistent approach since our 3 meeting company management inception in 1969 global financial centres PORTFOLIO PRODUCT Robust offering • Truly conviction based, our portfolio managers are • Core equities – Across the market cap spectrum as 47 fully empowered to make investment decisions well as country, regional, and global funds Investment 2 • Thematic – A range of funds that give investors access Professionals • High active share (>70% ) • Risk aware - seven portfolio engineers fully to long-term growth themes embedded within our investment process • Specialist investment capabilities and Responsible Portfolio Investing (RI) managers have an average of 18 Our fund managers are fully empowered and accountable for their years’ experience investment decisions (1) Source: AXA Investment Managers, Assets under management after delegation to the other asset classes as at 30-06-2020 (AXA IM Database) unless otherwise stated. (2)For illustrative purposes only. Past performance is not a guide to future performance. 1 FRAMLINGTON EQUITIES • AXA IM - INTERNAL Our Unconstrained Investment Proposition Executive summary • Actively managed, unconstrained* multi-cap equity strategy investing in Italian companies AXA WF Framlington Italy • Unconstrained approach leads to a highly concentrated Investment universe Typically 300 stocks portfolio driven by fundamental stock selection Stock concentration Typically 30-45 stocks • Revenue and margin growths are the dominant influences of success over the long term: focus on capturing companies No tracking error Tracking Error that have above-average growth prospects in the region objective Industry weight Fully unconstrained • Over a shorter investment horizon, a greater diversity of factors can influence equity prices : portfolio construction Turnover Typically <30% discipline and opportunistic picks help navigate varying market conditions Source: AXA IM. For illustrative purposes only. Past performance is not a guide to future performance. No guarantee or representation is made that investment objectives stated will be achieved. Each specific client or investor's experience may vary. *Unconstrained vs FTSE Italia All Share. Any such information (i) does not constitute a representation or undertaking on the part of the investment manager; (ii) is subjective and (iii) may be modified at any time within the limits provided in the fund prospectus. These are internal guidelines which are subject to change without notice. The information contained herein is not sufficient to support an investment decision. Any decision whether to invest in the securities must be based on the information in the prospectus. 2 FRAMLINGTON EQUITIES 201767g • AXA IM - INTERNAL Investment approach, team & strategy Investment team Experienced European Large Cap team Gilles Guibout Head of European Large Cap team Utilities Lead Portfolio Manager 25 yrs' experience Shared and dedicated resources Guillaume Robiolle Consumer discretionary, Back-up Portfolio Manager Communication Services Europe Small Cap investment team & Technology 23 yrs' experience (5 small and mid cap experts) Framlington regional/sector equity experts Olivier Eugène (12 analysts) Portfolio Manager/Analyst Industrials & Materials Investment Analytics team 22 yrs’ experience (8-person team) Responsible Investment team Hervé Mangin (16 RI Professionals) Portfolio Manager/Analyst Healthcare 22 yrs’ experience Macroeconomic Research team (12 economists/strategists) Jean-Marc Maringe Portfolio Manager/Analyst Consumer staples 31 yrs’ experience Vincent Vinatier Portfolio Manager/Analyst Financials 23 yrs’ experience Information as at 30/09/2020. Information regarding the background and experience of the key personnel of the investment team are provided for information purposes only. Debt members of the investment team are part of AXA Real Estate and Equities members part of Framlington Equities. We do not guarantee the fact that staff remain employed by AXA Investment Managers and exercise or continue to exercise in the Framlington Equities team and / or AXA Investment Managers. 4 FRAMLINGTON EQUITIES • AXA IM - INTERNAL Investment process overview Three step process Understand 2 FUNDAMENTAL 1 IDEA GENERATION Think STOCK SELECTION • Company reports / meetings / visits • Multi year growth themes High • • Focus on revenue growth/profitability conviction Regional & global specialists’ inputs • • Industry positioning investors Focus on valuation • Market assessment • Management & industry feedback Invest 3 PORTFOLIO CONSTRUCTION • High Active Share • Absolute risk focus • Low turnover Source: AXA IM. For illustrative purposes only. AXA IM reserves the right to modify any of the procedures, process and controls described herein at its discretion. CR09360/05-19 5 FRAMLINGTON EQUITIES 201817h • AXA IM - INTERNAL Fundamental stock selection Drivers of our bottom-up analysis Fundamental Analysis Management team Valuation and liquidity • Focus on revenue/margins growth Company meetings focusing on : Growth at a Reasonable Price (GARP) • Market leading products • Management delivery • Absolute and relative valuation (vs history, peers, etc.) • Pricing power/cost control • Business model clarity • Using P/E and PEG amongst other • Appropriate funding structure • Strategic commitment for growth metrics • Sustainable or improving • Leadership skills profitability • Governance and incentives • Position in the value chain Source: AXA IM. No assurance can be given that the strategy will be successful or that investors will not lose some or all of their capital. AXA IM reserves the right to modify any of the investment process described herein at its discretion. P/E: Price Earning. PEG: Price/Earnings to Growth. CR10177/08-19 6 FRAMLINGTON EQUITIES • AXA IM - INTERNAL Portfolio Construction Strong buy / sell discipline Buy / accumulate Active Exposure • Confidence in long term strategy of the business ✓ Economic Scenario • Expectation of material improvement in broader trading ✓ Market Environment environment • Expectation of positive earnings outlook ✓ Minimum Upside 10% to target price • Valuation anomaly (wary of value traps) ✓ Weightings reflect risk/reward profile • Management change – re-energising nascent business model Sell / reduce Portfolio Constraints • When a stock reaches its target price (sell ¼ position minimum) ✓ Typically 30-45 stocks in portfolio • Respect of investment guidelines and internal limits ✓ Initial minimum weighting 0.5% • Poorly perceived change at company level (strategy / management) ✓ Max 10% weighting for an individual position ✓ Position built gradually based on milestone achievements ✓ Ability to sell at least 50% of the portfolio within one business day Rigorous rule based: decisions based on conviction, flexibility to implement Source: AXA IM. For illustrative purposes only. AXA IM reserves the right to modify any of the procedures, process and controls described herein at its discretion. The information contained herein is not sufficient to support an investment decision. Any decision whether to invest in the securities must be based on the information in the prospectus. 7 FRAMLINGTON EQUITIES • AXA IM - INTERNAL Portfolio Characteristics AXA WF Framlington Italy Top 10 holdings and market cap breakdown Breakdown by market Top 10 holdings capitalisation (in EUR) Portfolio Performance Active Weight Sector % Indicator % % Enel SpA 8,55 17,16 -8,61 Utilities < EUR 2bn Intesa Sanpaolo S.p.A. 8,39 7,40 0,99 Financials 13% FinecoBank SpA 8,21 2,13 6,08 Financials Information EUR 2bn to Nexi S.p.A. 5,98 1,48 4,50 Technology 4bn Prysmian S.p.A. 5,64 1,77 3,87 Industrials 16% > EUR 4bn Consumer Ferrari NV 4,59 5,66 -1,07 70% Discretionary Terna S.p.A. 3,96 2,47 1,49 Utilities ERG S.p.A. 3,37 0,35 3,02 Utilities Interpump Group S.p.A. 3,25 0,75 2,50 Industrials Fund Performance Indicator Average Market Capitalization Consumer Fiat Chrysler Automobiles N.V. 3,11 3,43 -0,32 15,561 24,266 Discretionary (in M€) Source: AXA IM as at 30/09/2020. AXA WF Framlington Italy does not have a reference index. The Fund’s performance indicator, FTSE Italia All Share Total Return Net index, is given for a comparison basis only. 9 FRAMLINGTON EQUITIES 201817h • AXA IM - INTERNAL AXA WF Framlington Italy Main Overweight and Underweight Positions Performance Performance Top 10 overweight equities Fund % Active weight % Top 10 underweight equities Fund % Active weight % Indicator % Indicator % FinecoBank SpA 8,21 2,13 6,08 EXOR N.V. 0,00 1,44 -1,44 Nexi S.p.A. 5,98 1,48 4,50 Davide Campari-Milano N.V. 0,00 1,55 -1,55 Prysmian S.p.A. 5,64 1,77 3,87 Atlantia S.p.A 0,00 1,97 -1,97 ERG S.p.A. 3,37 0,35 3,02 Moncler SpA 0,00 2,00 -2,00
Load more

Recommended publications
  • Impatto COVID-19 Sui Primi Nove Mesi 2020 (Mnes Mondiali E FTSE MIB)
    BRIEFING NOTE: IMPACTS OF COVID-19 PANDEMIC ON 9 MONTHS 2020 (MNES AND FTSE MIB) Area Studi Mediobanca Milan, 19 November 2020 1 ASM SHEDS LIGHT ON THE IMPACT OF PANDEMIC FOR 9M 2020 The survey analyses trends on results for 9M 2020 of: 1) Large industrial companies that have disclosed the results for the period January- September by November 16, 2020, sector by sector 2) 26 industrial and service companies listed on the FTSE MIB*: A2A, Amplifon, Atlantia, Buzzi Unicem, CNH Industrial, Davide Campari-Milano, DiaSorin, ENEL, ENI, FCA, Ferrari, Hera, Interpump Group, Inwit, Italgas, Leonardo, Moncler, Pirelli & C., Prysmian, Recordati, Saipem, Snam, STM, Telecom Italia, Tenaris, Terna That are 15 privately held and 11 state-owned companies, 16 manufacturing industry, 6 energy/utilities, 3 service companies and 1 oil and gas At the end of September 2020 the FTSE MIB companies analyzed were worth 318 €billion on the stock market and represented 76% of the total capitalization (excluding finance and insurance) 2 * Escluding Exor because does not publish quarterly reports SUMMARY 1. Impact on results for 9M 2020: Large industrial companies 2. Impact on results for 9M 2020: FTSE MIB (industry and services) 3. Overall look 3 IMPACT ON RESULTS FOR 9M 2020: LARGE INDUSTRIAL COMPANIES Section 1 4 REVENUES GROWTH IN 9M 2020/2019 Net sales 9M 2020/2019, percentage change – Multinational companies by sectors 18.4 8.8 5.7 3.7 3.1 0.3 -1.8 -5.4 -9.4 -17.4 -21.3 -30.6 -32.3 The world multinational companies average is equal to: -4.3% 5 REVENUES GROWTH IN DIFFERENT QUARTERS 2020 Net sales 9M 2020/2019, percentage change - Multinational companies by sectors 1Q 2020/2019 2Q 2020/2019 3Q 2020/2019 20.4 17.3 17.5 10.5 7.3 8.5 6.5 5.9 6.3 5.5 4.5 3.8 5.0 4.6 4.3 2.4 2.2 -0.2 -1.6 -0.8 -2.3 -2.5 -3.2 -3.0 -5.7 -9.2 -8.7 -9.8 -12.5 -13.1 -14.8 -21.7 -21.9 -28.0 -31.6 -40.5 -41.6 -42.1 -51.5 WebSoft, large-scale distribution, electronics and food are the only sectors to grow the net sales in all the different quarters of 2020.
    [Show full text]
  • Autogrill Group 2008 Report and Accounts
    2008 Report and Accounts 2008 Report Autogrill Group Autogrill Group www.autogrill.com 2008 Report and Accounts Autogrill Group Annual Report and Accounts 2008 “Cultural diversity? Wealth to make the most of” “Environmental sustainability? A commitment to future generations, a competitive advantage for the business” “Professional advancement? An individual challenge, value for the community” “Focus on the consumer? An attitude that is a natural part of everyday operations” Highlights_Profile_Strategy_The concession business_Autogrill’s market_Business segments_The brands_People_The Group development Highlights Revenue EBITDA EBIT (E million) (E million) (E million) 3,529 3,929 4,861 5,795 475 514 562 602 295 325 339 332 2005 2006 2007 2008 2005 2006 2007 2008 2005 2006 2007 2008 Group net profit Net financial indebtedness Capex (E million) (E million) (E million) 130 153 158 123 928 781 1,162 2,168 195 214 278 337 2005 2006 2007 2008 2005 2006 2007 2008 2005 2006 2007 2008 011 The Autogrill Group The Autogrill Group Profile Autogrill is the world’s leading provider of food & beverage and retail services for travellers. Present in 43 countries with over 70,000 employees, it manages more than 5,500 points of sale in over 1,200 locations. Autogrill serves people on the move and operates primarily under concession agreements, which allow the Group to plan medium to long-term operations. Food & beverage, travel retail & duty-free, and flight are the Group’s three business sectors. Food & beverage is its historical business and is well developed mainly in North America and Europe. Travel retail has become highly strategic with the recent acquisitions of Aldeasa, Alpha Group and World Duty Free Europe, and is concentrated mostly in Europe, with a significant presence in the Middle East, the Americas and Asia.
    [Show full text]
  • Italy Strengthens Foreign Direct Investment Regime
    CORONAVIRUS: ITALY STRENGTHENS FOREIGN DIRECT INVESTMENT REGIME To tackle the impact of Coronavirus (Covid-19) and its aftermath, the Italian Government has become more protective over Italian strategic sectors and, accordingly, has strengthened the Italian foreign direct investment regime. This move is part of a broader European strategy towards stricter tests and requirements over foreign hostile buyouts. INTRODUCTION On 8 April 2020, the Italian Government ("Government") has adopted the Law Decree n. 23 ("Decree") which broadens its screening powers over foreign direct investments ("FDI"). Firstly, these new provisions extend the scope of the strategic sectors subject to the Government's screening powers. Secondly, even acquisitions of Italian strategic companies from EU subjects must be notified to the Government. Thirdly, the Government enlarges its powers to detect critical acquisitions. It must be pointed out that this new regime is immediately applicable to any acquisitions which are in a pre-closing phase (although the signing has already occurred). In the same vein, the obligations to disclose significant shareholdings into Italian listed companies have been strenghtened. THE EXTENSION OF THE STRATEGIC SECTORS Since 2012 onwards, the Italian FDI regime requires notification to the Government of acquisitions of stakes in companies owning assets in strategic sectors (i.e., defence, public security, energy, transports and communications), if certain thresholds are met. In 2019, the list of sensitive sectors was enlarged including also the broadband electronic communication based on 5G technology (which is subjects to a FDI special regime) and sectors listed in letters a) and b) (as illustrated here below) of the Regulation (EU) 452/20191 ("EU Regulation").
    [Show full text]
  • FTSE Publications
    2 FTSE Russell Publications 19 August 2021 FTSE Italia PIR All Cap Indicative Index Weight Data as at Closing on 30 June 2021 Constituent Index weight (%) Country Constituent Index weight (%) Country Constituent Index weight (%) Country A2A 0.5 ITALY El En 0.2 ITALY Prysmian 1.49 ITALY Acea 0.37 ITALY Enav 0.43 ITALY Rai Way 0.21 ITALY Alerion Cleanpower 0.04 ITALY Enel 10.01 ITALY Recordati 0.87 ITALY Amplifon 1 ITALY Eni 4.82 ITALY Reno de Medici 0.32 ITALY Anima Holding 0.5 ITALY Erg 0.63 ITALY Reply 1.42 ITALY Aquafil 0.39 ITALY Esprinet 0.24 ITALY Retelit 0.44 ITALY Ascopiave 0.12 ITALY Eurotech 0.18 ITALY Sabaf 0.3 ITALY Astaldi 0.1 ITALY Exor NV 1.3 ITALY Safilo Group 0.27 ITALY Atlantia 1.4 ITALY Falck Renewables 0.29 ITALY Saipem 0.21 ITALY Autogrill 0.53 ITALY Ferrari NV 3.95 ITALY Salcef Group 0.07 ITALY Avio 0.33 ITALY Fiera Milano 0.11 ITALY Salvatore Ferragamo 0.55 ITALY Azimut Holding 0.47 ITALY Fila 0.14 ITALY Sanlorenzo 0.13 ITALY B.F. 0.08 ITALY Fincantieri 0.17 ITALY Saras 0.18 ITALY Banca Generali 0.38 ITALY Finecobank 1.67 ITALY Seri Industrial 0.17 ITALY Banca Ifis 0.16 ITALY Garofalo Health Care 0.26 ITALY Sesa 0.41 ITALY Banca Mediolanum 0.44 ITALY Generali 4.06 ITALY SICIT Group 0.27 ITALY Banca Monte Paschi Siena 0.14 ITALY GVS 0.44 ITALY Snam 2.03 ITALY Banca Popolare Sondrio 0.75 ITALY Hera 0.51 ITALY Sol 0.28 ITALY Banca Sistema 0.13 ITALY Igd - Immobiliare Grande Distribuzione 0.12 ITALY Stellantis NV 6.25 ITALY Banco BPM 0.76 ITALY Illimity Bank 0.34 ITALY STMicroelectronics 3.71 ITALY BFF Bank 0.7 ITALY
    [Show full text]
  • Appendix D - Securities Held by Funds October 18, 2017 Annual Report of Activities Pursuant to Act 44 of 2010 October 18, 2017
    Report of Activities Pursuant to Act 44 of 2010 Appendix D - Securities Held by Funds October 18, 2017 Annual Report of Activities Pursuant to Act 44 of 2010 October 18, 2017 Appendix D: Securities Held by Funds The Four Funds hold thousands of publicly and privately traded securities. Act 44 directs the Four Funds to publish “a list of all publicly traded securities held by the public fund.” For consistency in presenting the data, a list of all holdings of the Four Funds is obtained from Pennsylvania Treasury Department. The list includes privately held securities. Some privately held securities lacked certain data fields to facilitate removal from the list. To avoid incomplete removal of privately held securities or erroneous removal of publicly traded securities from the list, the Four Funds have chosen to report all publicly and privately traded securities. The list below presents the securities held by the Four Funds as of June 30, 2017. 1345 AVENUE OF THE A 1 A3 144A AAREAL BANK AG ABRY MEZZANINE PARTNERS LP 1721 N FRONT STREET HOLDINGS AARON'S INC ABRY PARTNERS V LP 1-800-FLOWERS.COM INC AASET 2017-1 TRUST 1A C 144A ABRY PARTNERS VI L P 198 INVERNESS DRIVE WEST ABACUS PROPERTY GROUP ABRY PARTNERS VII L P 1MDB GLOBAL INVESTMENTS L ABAXIS INC ABRY PARTNERS VIII LP REGS ABB CONCISE 6/16 TL ABRY SENIOR EQUITY II LP 1ST SOURCE CORP ABB LTD ABS CAPITAL PARTNERS II LP 200 INVERNESS DRIVE WEST ABBOTT LABORATORIES ABS CAPITAL PARTNERS IV LP 21ST CENTURY FOX AMERICA INC ABBOTT LABORATORIES ABS CAPITAL PARTNERS V LP 21ST CENTURY ONCOLOGY 4/15
    [Show full text]
  • International Smallcap Separate Account As of July 31, 2017
    International SmallCap Separate Account As of July 31, 2017 SCHEDULE OF INVESTMENTS MARKET % OF SECURITY SHARES VALUE ASSETS AUSTRALIA INVESTA OFFICE FUND 2,473,742 $ 8,969,266 0.47% DOWNER EDI LTD 1,537,965 $ 7,812,219 0.41% ALUMINA LTD 4,980,762 $ 7,549,549 0.39% BLUESCOPE STEEL LTD 677,708 $ 7,124,620 0.37% SEVEN GROUP HOLDINGS LTD 681,258 $ 6,506,423 0.34% NORTHERN STAR RESOURCES LTD 995,867 $ 3,520,779 0.18% DOWNER EDI LTD 119,088 $ 604,917 0.03% TABCORP HOLDINGS LTD 162,980 $ 543,462 0.03% CENTAMIN EGYPT LTD 240,680 $ 527,481 0.03% ORORA LTD 234,345 $ 516,380 0.03% ANSELL LTD 28,800 $ 504,978 0.03% ILUKA RESOURCES LTD 67,000 $ 482,693 0.03% NIB HOLDINGS LTD 99,941 $ 458,176 0.02% JB HI-FI LTD 21,914 $ 454,940 0.02% SPARK INFRASTRUCTURE GROUP 214,049 $ 427,642 0.02% SIMS METAL MANAGEMENT LTD 33,123 $ 410,590 0.02% DULUXGROUP LTD 77,229 $ 406,376 0.02% PRIMARY HEALTH CARE LTD 148,843 $ 402,474 0.02% METCASH LTD 191,136 $ 399,917 0.02% IOOF HOLDINGS LTD 48,732 $ 390,666 0.02% OZ MINERALS LTD 57,242 $ 381,763 0.02% WORLEYPARSON LTD 39,819 $ 375,028 0.02% LINK ADMINISTRATION HOLDINGS 60,870 $ 374,480 0.02% CARSALES.COM AU LTD 37,481 $ 369,611 0.02% ADELAIDE BRIGHTON LTD 80,460 $ 361,322 0.02% IRESS LIMITED 33,454 $ 344,683 0.02% QUBE HOLDINGS LTD 152,619 $ 323,777 0.02% GRAINCORP LTD 45,577 $ 317,565 0.02% Not FDIC or NCUA Insured PQ 1041 May Lose Value, Not a Deposit, No Bank or Credit Union Guarantee 07-17 Not Insured by any Federal Government Agency Informational data only.
    [Show full text]
  • Borsa, Parte a Londra Prima Tappa Dell'italian Equity Roadshow 2020
    Data 16-01-2020 Pagina Foglio 1 Giovedì 16 Gennaio 2020, ore 13.40 accedi registrati seguici su feed rss Cerca notizie, titoli o ISIN Azioni Milano A B C D E F G H I J K L M N O P Q R S T U V W X Y Z NOTIZIE QUOTAZIONI RUBRICHE AGENDA VIDEO ANALISI TECNICA STRUMENTI GUIDE PRODOTTI L'AZIENDA Home Page / Notizie / Borsa, parte a Londra prima tappa dell'Italian Equity Roadshow 2020 Borsa, parte a Londra prima tappa dell'Italian Equity Roadshow 2020 Presenti 22 società ed un Fondo di Investimento Alternativo che ioncontreranno 60 investitori in oltre 200 meeting in calendario commenta altre news Finanza · 16 gennaio 2020 - 13.34 (Teleborsa) - Parte oggi a Londra la prima tappa dell’Italian Equity Roadshow di Borsa Italiana, che prevede due giorni di meeting - il 16 e 17 gennaio - tra le società quotate e la comunità finanziaria internazionale presente alla City. Un evento di grandi proporzioni: Argomenti trattati parteciperanno 90 investitori in rappresentanza di 60 Borsa (1392) · Azimut (20) · Londra (209) · case di investimento provenienti da Regno Unito, Italia, Banca Generali (14) · Interpump (9) · Medio Oriente, Nuova Zelanda, Stati Uniti e Lussemburgo Stati Uniti (55) · Anima (27) · Mediolanum (8) · per un totale di 220 meeting tra società e investitori. Banca Mediolanum (6) · Italia (765) · Reply (4) · Borsa Italiana (5) · Snam (5) · Italgas (12) · A2A (1) Saranno presenti 22 società - A2A, Anima Holding, · Anima Holding (9) · Banca Sistema (1) · Finecobank (2) · FTSE MIB (213) · Azimut Holding, Banca Generali, Banca IFIS, Banca Interpump Group (2) · Italmobiliare (6) · Marr (10) · Mediolanum, Banca Sistema, BF Banking Group, Cerved Group, Coima RES, Credito Emiliano, Danieli & C, Poste Italiane (8) · Tamburi (3) · Unipol (9) · Finecobank, Interpump Group, Italgas, Italmobiliare, Marr, Poste Italiane, Reply, Snam, Tamburi Investment Unipolsai (4) Partners, Unipol – Unipolsai - ed un Fondo di Investimento Alternativo, NB Aurora, per una capitalizzazione aggregata di 87,3 miliardi di euro.
    [Show full text]
  • Temporary Prohibition of Short Selling
    11/13/2020 Temporary prohibition of short selling Temporary prohibition of short selling The FCA notifies that it temporarily prohibits short selling in the following instruments under Articles 23 (1) and 26 (4) of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012. This follows a decision made by another EU Competent Authority. Details of the Financial Instruments concerned: • ABENGOA CLASE B (ISIN: ES0105200002) • ACCIONA, S.A. (ISIN: ES0125220311) • ACCIONES FOMENTO DE (ISIN: ES0122060314) • ACCIONES IBERDROLA (ISIN: ES0144580Y14) • ACERINOX, S.A. (ISIN: ES0132105018) • ACS,ACTIVIDADES DE CO (ISIN: ES0167050915) • AEDAS HOMES, S.A (ISIN: ES0105287009) • AENA, S.M.E., S.A. (ISIN: ES0105046009) • AIRBUS (ISIN:NL0000235190) • AMADEUS IT GROUP, S.A. (ISIN: ES0109067019) • APERAM (ISIN: LU0569974404) • APPLUS SERVICES, S.A. (ISIN: ES0105022000) • ARCELORMITTAL SA (ISIN: LU1598757687) • ATRESMEDIA CORPORAC (ISIN: ES0109427734) • AUDAX RENOVABLES, S.A (ISIN: ES0136463017) • BANCO BILBAO VIZCAYA (ISIN: ES0113211835) • BANCO DE SABADELL (ISIN: ES0113860A34) • BANCO SANTANDER S.A. (ISIN: ES0113900J37) • BANKIA, S.A. (ISIN: ES0113307062) • BANKINTER, S.A. (ISIN: ES0113679I37) • BIOSEARCH, S.A. (ISIN: ES0172233118) • CAIXABANK, S.A. (ISIN: ES0140609019) • CELLNEX TELECOM, S.A. (ISIN: ES0105066007 • CIE AUTOMOTIVE, S.A. (ISIN: ES0105630315) https://www.fca.org.uk/news/news-stories/temporary-prohibition-short-selling/printable/print 1/5 11/13/2020 Temporary prohibition of short selling • COCA-COLA EUROPEAN P (ISIN: GB00BDCPN049) • CODERE S.A. (ISIN: ES0119256032) • COMPAÑIA DE DISTRIBUC (ISIN: ES0105027009) • CONSTRUCCIONES Y AUX (ISIN: ES0121975009) • ENAGAS,S.A. (ISIN: ES0130960018) • ENCE ENERGIA Y CELULO (ISIN: ES0130625512) • ENDESA,S.A. (ISIN: ES0130670112) • ERCROS (ISIN: ES0125140A14) • EUSKALTEL, S.A. (ISIN: ES0105075008) • FAES FARMA, S.A.
    [Show full text]
  • S. ILARIO D'enza (RE) GRUPPO IPG HOLDING SPA Milano, 2 Aprile
    GRUPPO IPG HOLDING S.P.A. SPElTr\BILE TNTERPUMP GROUP S.P.A. VIA E. FERMI, 25 42049 - S. ILARIO D'ENZA (RE) Milano, 2 aprile 2020 LISTA DI CANDIDATI PER LA NOMINA DEL CONSIGLIO DI AMMINISTRAZIONE DI INTERPUMP GROUP S.P .A. Egregi Signori, con riferimento all'Assemblea Ordinaria e Straordinaria degli Azionisti della Societa Interpump Group S.p.A., convocata presso lo stabilimento di Interpump Group S.p.A., via Einstein n. 2 in S. Ilario d'Enza (RE), in data 30 aprile 2020, alle ore 10,00, in unica convocazione per deliberare, in sede ordinaria, tra l'altro, in merito al seguente punto all'ordine del giorno: "Nomina del Consiglio di Amministrazione: Determinazione del numero dei componenti; Determinazione della durata in carica; Nomina dei componenti il Consiglio di Amministrazione; Nomina del Presidente del Consiglio di Amministrazione;" l'azionista Grnppo IPG Holding S.p.A., cod.ice fiscale 05830220967, titolare di n. 25.406.799 azioni Interpump Group S.p.A., pari al 23,3348% del capitale sociale di Interpump Group S.p.A., percentuale superiore alla soglia minima stabilita dalla Determinazione Dirigenziale CONSOB n. 28/2020 (pari all'l % del capitale sociale di Interpump Group S.p.A.), per la presentazione delle Liste e vis to l'art. 14 dello Statuto sociale, a) propane di determinare in 10 (dieci) il numero dei membri del Consiglio di Amministrazione; b) propane la durata in carica degli Amministratori per un periodo di 3 (tre) esercizi, fino all'approvazione del bilancio d'esercizio che si chiudera al 31 dicembre 2022; c) presenta la seguente Lista per la nomina del Consiglio di Amministrazione: 1.
    [Show full text]
  • Effects of Covid-19 on 9M 2020 Results
    EFFECTS OF COVID -19 ON 9M 2020 RESULTS FOR MULTINATIONALS A ND FTSE MIB COMPANIES MULTINAT IONAL S: SOFTWARE /INTERNET , LARGE -SCALE DISTRIBUTION A ND ELECTRONICS CONTINUE TO GROW ; OIL /GAS , FASHION AND A UTOMOTIVE STRUGGLING FTSE MIB COMPANIES : €46 BN IN MARKET CAP WIPED OFF THE STOCK MARKET IN 9M, SOME OF WHICH HAS BEEN RECOVERED ALREADY ; POSITIVE RESPONSE FR OM MANUFACTURING INDUST RY IN 3Q Milan, 19 November 2020 The Mediobanca Research Area has analysed the impact of the Covid-19 pandemic on the 9M 2020 financial statements of over 160 global industrial multinationals with annual turnover of more than €3bn, and the 26 industrial and services companies included in the FTSE MIB index. 1 The presentation is available for download from the company’s website at www.mbres.it. ****** Industrial multinationals in 9M 2020: comparison between sectors In the first nine months of 2020, the turnover posted by the industrial multinationals analysed shrank by 4.3% Y.o.Y., with the reductions by certain sectors offset in part by the growth in others. Software/internet, large-scale distribution, electronics and food are the only sectors that saw total sales increase in all the first three quarters of 2020. In particular, top-line growth was reported by the software/internet companies (total sales up 18.4% Y.o.Y.), followed by large-scale distribution (up 8.8%) and electronics (up 5.7%). Other good performances were reported by the food multinationals (total sales up 3.7%), the pharmaceutical companies (up 3.1%) and the firms operating in the pay tech industry (up 0.3%).
    [Show full text]
  • Ief-I Q3 2020
    Units Cost Market Value INTERNATIONAL EQUITY FUND-I International Equities 96.98% International Common Stocks AUSTRALIA ABACUS PROPERTY GROUP 1,012 2,330 2,115 ACCENT GROUP LTD 3,078 2,769 3,636 ADBRI LTD 222,373 489,412 455,535 AFTERPAY LTD 18,738 959,482 1,095,892 AGL ENERGY LTD 3,706 49,589 36,243 ALTIUM LTD 8,294 143,981 216,118 ALUMINA LTD 4,292 6,887 4,283 AMP LTD 15,427 26,616 14,529 ANSELL LTD 484 8,876 12,950 APA GROUP 14,634 114,162 108,585 APPEN LTD 11,282 194,407 276,316 AUB GROUP LTD 224 2,028 2,677 AUSNET SERVICES 9,482 10,386 12,844 AUSTRALIA & NEW ZEALAND BANKIN 19,794 340,672 245,226 AUSTRALIAN PHARMACEUTICAL INDU 4,466 3,770 3,377 BANK OF QUEENSLAND LTD 1,943 13,268 8,008 BEACH ENERGY LTD 3,992 4,280 3,824 BEGA CHEESE LTD 740 2,588 2,684 BENDIGO & ADELAIDE BANK LTD 2,573 19,560 11,180 BHP GROUP LTD 16,897 429,820 435,111 BHP GROUP PLC 83,670 1,755,966 1,787,133 BLUESCOPE STEEL LTD 9,170 73,684 83,770 BORAL LTD 6,095 21,195 19,989 BRAMBLES LTD 135,706 987,557 1,022,317 BRICKWORKS LTD 256 2,997 3,571 BWP TRUST 2,510 6,241 7,282 CENTURIA INDUSTRIAL REIT 1,754 3,538 3,919 CENTURIA OFFICE REIT 154,762 199,550 226,593 CHALLENGER LTD 2,442 13,473 6,728 CHAMPION IRON LTD 1,118 2,075 2,350 CHARTER HALL LONG WALE REIT 2,392 8,444 8,621 CHARTER HALL RETAIL REIT 174,503 464,770 421,358 CHARTER HALL SOCIAL INFRASTRUC 1,209 2,007 2,458 CIMIC GROUP LTD 4,894 73,980 65,249 COCA-COLA AMATIL LTD 2,108 12,258 14,383 COCHLEAR LTD 1,177 155,370 167,412 COMMONWEALTH BANK OF AUSTRALIA 12,637 659,871 577,971 CORONADO GLOBAL RESOURCES INC 1,327
    [Show full text]
  • Gabelli Global Small & Mid Cap Value Trust Form NPORT-P Filed 2021
    SECURITIES AND EXCHANGE COMMISSION FORM NPORT-P Filing Date: 2021-05-28 | Period of Report: 2021-03-31 SEC Accession No. 0001752724-21-119357 (HTML Version on secdatabase.com) FILER Gabelli Global Small & Mid Cap Value Trust Mailing Address Business Address ONE CORPORATE CENTER ONE CORPORATE CENTER CIK:1585855| IRS No.: 000000000 | State of Incorp.:DE | Fiscal Year End: 1231 RYE NY 10580 RYE NY 10580 Type: NPORT-P | Act: 40 | File No.: 811-22884 | Film No.: 21981548 914-921-5100 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document The Gabelli Global Small and Mid Cap Value Trust Schedule of Investments March 31, 2021 (Unaudited) Market Market Shares Value Shares Value COMMON STOCKS 92.4% 28,000 GCP Applied Technologies Inc. $687,120 Aerospace 1.5% 7,000 IES Holdings Inc. 352,870 26,000 Aerojet Rocketdyne Holdings Inc. $1,220,960 6,000 Johnson Controls International plc 358,020 6,000 Allied Motion Technologies Inc. 307,980 2,147,262 9,000 Avio SpA 129,607 Business Services 5.7% 8,500 Kaman Corp. 435,965 5,000 Clarivate plc 131,950 1,000 L3Harris Technologies Inc. 202,680 83,000 Diebold Nixdorf Inc. 1,172,790 256,666 Rolls-Royce Holdings plc 372,593 20,000 Fly Leasing Ltd., ADR 337,000 2,669,785 52,000 Herc Holdings Inc. 5,269,160 Automotive 2.2% 54,000 JCDecaux SA 1,361,505 4,100 Ferrari NV 858,048 13,500 Loomis AB 410,559 70,000 Navistar International Corp.
    [Show full text]