ALPHA TRUST ANDROMEDA INVESTMENT TRUST S.A. ALPHA TRUST-ΑΝΔΡΟΜΕΔΑ Α.Ε.Ε.Χ.
Q2 2021 | Shareholders Department: tel. + 30 210 62 89 200, email: andromeda@alphatrust.gr | www.andromeda.eu |
L. 3371/2005 Company, License: Hellenic Capital Market Commission Decision 5/192/6.6.2000, G.C.R: 003882701000 | |
Investment objective |
ALPHA TRUST-ANDROMEDA Investment Trust S.A. is a closed-end fund listed on the Athens Stock Exchange. Seeks to identify and benefit from undervalued assets in the domestic equity and fixed income markets.
The portfolio is managed by ALPHA TRUST.
Share facts
NAV PER SHARE | € 35.8324 | |
SHARE PRICE | € 27.8000 | |
NAV | € 14.37 mn. | |
TOTAL ASSETS | € 15.89 mn. | |
UNDER MANAGEMENT | ||
MARKET CAP | € 11.15 mn. | |
NUMBER OF SHARES | 401,136 | |
OWN SHARES | 6,931 | |
Performance update Note 1 | ||
Period | Share price | NAV per share |
Manager comment
The Athens Stock Exchange continued its upward trend during Q2 2021, as it achieved gains of 2.29%, supported by the positive momentum of international markets. Since the beginning of the year it has recorded gains of 9.38%, trading during the second quarter in a range between 865-928 points, closing at 884.89 points. The milder - compared to the estimates - decline in GDP of - 2.3% y/y during Q121, although the country was in lockdown, the unexpected upgrade of Greece from S&P to BB, the reduction of corporate tax rates and the roll out of vaccinations, contributed to the positive investment sentiment.
The capital increases carried out by Piraeus Bank and ALPHA BANK, as well as Aegean Airlines contributed to the strengthening of their capital structure, while the participation of domestic and international investors confirmed the investment interest for the Greek stock market. The expansion of HERCULES II until 2022 will help banks to further reduce their non-performing loans.
The signing of the transfer of HELLINIKON S.A. at Lamda Development - after years of delays - is signaling the launching of the flagship project. In combination with a number of other projects, new investments are expected to enhance the growth prospects of the economy.
The gradual recovery of the economy with the help of the flows from the Recovery Fund as well as the expected upgrades by the credit rating agencies are expected to lead the country to achieve the "investment grade" in the medium term. Τhe flow of vaccinations and the evolution of the pandemic remain crucial.
The ALPHA TRUST-ANDROMEDA portfolio gained 12.11% during the second quarter of 2021, outperforming the Athex Composite Total Return Index by 8.95%.
Comparative performance Note 1
Since inception 25/07/2000 to 30/06/2021
3 Μonths | 28.56% | 12.11% | 150% | |||||||||
125.02% | ||||||||||||
6 Μonths | 27.45% | 18.82% | 100% | |||||||||
9 Μonths | 40.80% | 49.36% | 50% | |||||||||
12 Μonths | 46.15% | 62.66% | 0% | |||||||||
End of reference date 30/06/2021 | -50% | -58.25% | ||||||||||
-100% | ||||||||||||
Indices performance Q2 2021 | 07/2000 | 01/2004 | 07/2007 | 12/2010 | 06/2014 | 12/2017 | 06/2021 | |||||
ATHEX COMPOSITE | 2.29% | NAV Per Share | Athex Composite Total Return Index | Note 2 | ||||||||
SHARE PRICE INDEX | ||||||||||||
ATHEX COMPOSITE | 3.17% | Since investment strategy change 24/10/2011 to 30/06/2021 | ||||||||||
TOTAL RETURN INDEX | Note 3 | |||||||||||
FTSE/ATHEX LARGE | 3.03% | 250% | ||||||||||
CAP | 200% | |||||||||||
191.84% | ||||||||||||
FTSE/ATHEX MID CAP | 12.94% | 150% | ||||||||||
End of reference date 30/06/2021 | 100% | |||||||||||
50% | 44.97% | |||||||||||
0% | ||||||||||||
Company overview | -50% | |||||||||||
INCEPTION DATE | 25/07/2000 | 10/2011 | 09/2013 | 09/2015 | 08/2017 | 07/2019 | 06/2021 | |||||
LISTING DATE (IPO) | 19/12/2001 | NAV Per Share | Athex Composite Total Return Index | |||||||||
DOMICILE | Greece | |||||||||||
TERMINATION DATE | 31/12/2022 | |||||||||||
BASE CURRENCY | EUR | Premium/Discount | Dividends (D) & Capital Returns (CR) Note 4 | |||||||||
LISTING | ATHENS STOCK | Max 2021 | -21.93% | ex date | type | € / share ex date | type | € / share | ||||
EXCHANGE | (29/06/21) | D | 1.78 | (10/09/10) | CR | 5 | ||||||
Min 2021 | -32.98% | (24/09/20) | CR | 0.75 | (22/04/10) | D | 10 | |||||
Share Codes | (31/12/19) | CR | 0.75 | (29/09/09) | CR | 6 | ||||||
ISIN | GRS433003019 | Average 2021 | -28.61% | (12/08/19) | CR | 0.75 | (26/03/09) | CR | 12 | |||
OASIS (ASE) | ANDRO | (05/04/18) | D | 0.75 | (14/08/08) | D | 8 | |||||
BLOOMBERG | ANDRO GA | 30/06/2021 | -22.42% | (29/04/14) | D | 0.80 | (12/03/08) | D | 15 | |||
REUTERS RIC | ANDRr.AT | (23/11/11) | CR | 100 | (10/08/07) | D | 10 | |||||
(09/09/11) | CR | 5 | (09/03/07) | D | 17 | |||||||
(21/03/11) | CR | 10 | (10/08/06) | D | 8 |
Important information: Data as at 30/06/2021, unless otherwise specified. Source: ALPHA TRUST, Bloomberg, Athens Stock Exchange. Notes: (1) Performance is calculated with dividend reinvestment, excluding Own Shares (2) Athex Composite Total Return Index inception is March 1st 2001. Prior to that date, the weighted dividend yield of the market according to ASE data has been used (3) 24/10/2011: Decision of Extraordinary General Shareholders Meeting for Share capital decrease via capital return to shareholders & Against dissolution and liquidation of the Company (4) Adjusted for the 1/100 Reverse Split of 3/9/2012.
ALPHA TRUST MUTUAL FUND AND ALTERNATIVE INVESTMENT FUND MANAGEMENT S.A.
Hellenic Capital Market Commission's License 24th/ Subj.669/23.12.2013 & 7/695/15.10.2014, General Electronic Commercial Registry: 882401000
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www.alphatrust.gr
ALPHA TRUST-ΑΝΔΡΟΜΕΔΑ Α.Ε.Ε.Χ.
Q2 2021 | Shareholders Department: tel. + 30 210 62 89 200, email: andromeda@alphatrust.gr | www.andromeda.eu | |||
L. 3371/2005 Company, License: Hellenic Capital Market Commission Decision 5/192/6.6.2000, G.C.R: 003882701000 | ||||
Asset Class Breakdown | Equity Sector Allocation Note 2 | |||
Sector | Average weight |
Equity | 89.84% |
Bonds 1.96%
0% | 50% | 100% |
Technology | 21.37% |
Financial | 20.06% |
Industrial | 13.94% |
Consumer, Non-cyclical | 13.85% |
Basic Materials | 13.32% |
Utilities | 4.81% |
Consumer, Non-cyclical | 4.66% |
Risk Report Q2 2021
Risk Return Data Note 1
ALPHA TRUST-ANDROMEDA | ATHEX COMPOSITE | |||
SHARE PRICE INDEX | ||||
OBSERVED VOLATILITY | 15.19% | VOLATILITY | 22.75% | |
DOWNSIDE VOLATILITY | 12.96% | BETA | 0.539 | |
SHARPE RATIO | 3.36 | R SQUARE | 65.24% | |
SORTINO RATIO | 3.94 | CORRELATION | 0.81 | |
VALUE-AT-RISK MEASURES 99% CONF. LEVEL (1 DAY INV. HORIZON) Note 3
Communications | 2.40% |
Energy | 1.51% |
Top 5 holdings Note 2
Company | Sector | % of Total |
QUEST HOLDINGS SA | Technology | 14.57% |
THRACE PLASTICS CO SA | Basic Materials | 9.31% |
TITAN CEMENT INTERNATIONAL ATH | Industrial | 7.17% |
ELVE S.A. | Consumer, Cyclical | 6.31% |
MYTILINEOS HOLDINGS S.A. | Industrial | 5.10% |
VALUE-AT-RISK-3.11%
Performance History Note 4
Y / Μ | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | Total | |
2021 | -4.01% | 4.01% | 6.15% | 6.78% | 3.69% | 1.26% | 18.82% | |||||||
2020 | 1.67% | -16.87% | -17.99% | 12.75% | 0.20% | 0.64% | -0.48% | 4.18% | 5.04% | -3.50% 19.16% | 9.32% | 7.88% | ||
2019 | 3.73% | 5.20% | -0.52% | 4.72% | 3.66% | 2.14% | 4.28% | -3.04% | -0.10% | -0.23% | 0.86% | 1.64% | 24.36% | |
2018 | 6.88% | -2.29% | -1.49% | 3.14% | -5.54% | 1.41% | -1.39% | -0.45% | 1.10% | -2.75% | 0.06% | -0.60% | -2.45% | |
2017 | 1.04% | 4.06% | 4.65% | 1.52% | 4.14% | 4.72% | 0.28% | 1.22% | -3.49% | -0.29% | -0.95% | 6.11% | 25.08% | |
2016 | -7.03% | -7.06% | 6.19% | 0.86% | 8.69% | -9.73% | 5.34% | 0.13% | -1.64% | 5.02% | 6.60% | 2.90% | 8.51% | |
2015 | -4.67% | 8.05% | -5.91% | 1.73% | 1.82% | -4.53% | 0.78% | -9.70% | 3.03% | 2.94% | -4.53% | 0.43% | -11.31% | |
2014 | 1.52% | 6.15% | 1.84% | -2.83% | -2.08% | 0.78% | -1.27% | -1.68% | -5.79% | -8.29% | 2.64% | -5.68% | -14.56% | |
2013 | 5.70% | 0.39% | -10.57% | 7.35% | 1.03% | -3.44% | 1.17% | 0.07% | 6.09% | 7.70% | -0.64%-2.12% | 11.79% | ||
2012 | 24.15% | -0.25% | 5.28% | 1.07% | -8.53% | 5.61% | -1.35% | 2.33% | 11.00% | 6.96% | 6.26% | 9.60% | 77.67% | |
Important information: Data as at 30/06/2021, unless otherwise specified. Source: ALPHA TRUST, Bloomberg, Athens Stock Exchange. Notes: (1) Risk-Returns performance measures for the last year of observations (2) Average weighted quarterly data (3) VaR estimation for the Quarter's Last Trading Day (4) Performance is calculated with dividend reinvestment excluding Own Shares.
This report contains data regarding past transactions and services and does not constitute binding or secure predictions with regards to future results of those transactions and services . This report is intended for information purposes only. Part of the information and data of this report have been collected from reliable sources, nevertheless there is no guarantee for their accuracy or their validity. Any data and estimations contained herein do not constitute under any circumstances analysis, instigation (or the opposite) or investment advice for specific transactions. The companies ALPHA TRUST and ALPHA TRUST- ANDROMEDA Investment Trust S.A. bear no liability for any investment that may take place based on estimates published in this report, since money markets and capital markets are subject to unforeseeable fluctuation and the return on the investments may be either losses or profits and consequently under no circumstances can it be guaranteed. ALPHA TRUST is the portfolio manager of ALPHA TRUST- ANDROMEDA Investment Trust S.A. and owns directly 2.19% ALPHA TRUST-ANDROMEDA Investment Trust S.A. shares, while is entitled to exercise voting rights corresponding to 27.189% in total, of the total number of voting rights attached to ALPHA TRUST-ANDROMEDA Investment Trust S.A. shares (data as at 30/06/2021).
ALPHA TRUST MUTUAL FUND AND ALTERNATIVE INVESTMENT FUND MANAGEMENT S.A.
Hellenic Capital Market Commission's License 24th/ Subj.669/23.12.2013 & 7/695/15.10.2014, General Electronic Commercial Registry: 882401000
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Alpha Trust Andromeda Investment Trust SA published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 13:49:02 UTC.
