Provenance Luxury Brands Fund has announced 29 per cent returns or greater in all currencies since the beginning of 2016.
The fund has consistently performed at 29 per cent returns or greater for 30 months with Provenance Luxury Brands Fund (EUR) achieving 29.3 per cent, Provenance Luxury Brands Fund (GBP) achieving 52.8 per cent and Provenance Luxury Brands Fund (USD) hitting 38.1 per cent. The EUR and GBP classes surpass benchmark S&P Global Luxury Index.
The Fund’s Investment Objective is to provide long term capital growth by investing predominately in carefully selected transferable securities issued by companies operating in the luxury brands sector. Current assets under management include LMVH (4.9 per cent), Christian Dior (4.6 per cent), Las Vegas Sands Corp (4.5 per cent) and Kering Shares (4.4 per cent).
Fund manager, Soemoe Thein Win, says: “Against a turbulent geopolitical backdrop, the strategy has weathered the storm well; overcoming global challenges such as the trade war, North Korean tensions and Brexit.”
“Our philosophy remains focused on well-defined investment processes with a long-term view through all market cycles. As key drivers continue to propel growth in this flourishing sector, we continue to identify the most compelling assets within our target sectors while diligently monitoring market volatility.”
Last month, following a 22 per cent returns average, Soemoe Thein Win climbed to ninth position on the CityWire database of global consumer discretionary managers on a 12-month basis.
