Fund: PARLA

Name	BNP Paribas Funds Latin America Equity USD
ISIN	LU0075933415
	23-01-1997
Fund type	Equity
Category	Equity - Lat. America
Fund issuer	BNP PARIBAS FUNDS
	BNP Paribas Asset Management Brasil Ltda

Currency	USD
Investment (min)	1,000
Sale fee (max)	3%

Strategy
The Fund seeks to increase the value of its assets over the medium term by investing in shares issued by Latin American companies, and/or companies operating in those countries. It is actively managed and as such may invest in securities that are not included in the index which is MSCI EM Latin America 10/40 (NR). Due to the active approach of the manager, the performance objective of the sub-fund is to outperform the benchmark. The investment philosophy is based in a long term bottom-up approach taking into consideration the financial structure of companies with superior earnings growth and sound profitability, quality of the management, sustainable growth and others. The selection approach is based on an assessment of critical factors such as valuation multiples, earnings growth and cash flow generation. Alongside, a top down overlay approach is used to identify companies operating in sectors/countries with strong long term macroeconomic fundamentals. Opportunities are sought everywhere in the Latin America investment universe, whether inside or outside of the index, with no particular constraints other than liquidity. Nevertheless, when certain market’s circumstances justify it in order to preserve the overall liquidity of the sub-fund, the asset manager will focus on the most tradable equities, the composition of the portfolio could get closer to that of the benchmark. Such circumstances are related to emerging markets inefficiencies, such as liquidity issues and severe FX devaluations during global instabilities, irrational speculative attacks towards emerging markets, and electoral periods in which prices are chiefly driven by political news-flow rather than fundamentals. Income are systematically reinvested. Investors are able to redeem on a daily basis (on Luxembourg bank business days).

EIC Fund Rating (2020)

Rok	Rated portolio	Ref. ccy	Rating category	Rf (p.a.)	Rm (p.a.)	Return (p.a.)	Correlation	Beta	Alpha (p.a.)	Rank	Stars
2020	PARLA	USD	EQ-LATAM	0.3675%	-4.69%	-10.94%	0.97	1.07	-5.88%	8/8
2019	PARLA	USD	EQ-LATAM	2.1319%	16.86%	13.07%	0.97	1.10	-5.22%	6/7
2018	PARLA	USD	EQ-LATAM	1.8344%	-8.13%	-10.14%	0.94	1.17	-0.35%	5/7
2017	PARLA	USD	EQ-LATAM	1.0263%	25.80%	20.60%	0.98	1.03	-5.90%	7/7
2016	PARLA	USD	EQ-LATAM	0.3901%	53.29%	60.61%	0.91	1.11	1.25%	3/9
2015	PARLA	USD	EQ-LATAM	0.1342%	-38.72%	-37.85%	0.91	1.20	6.78%	2/9
2014	PARLA	USD	EQ-LATAM	0.0923%	-16.04%	-12.35%	0.95	1.19	6.73%	1/10

NAV	532.9800
Day	07-12-2023
Daily change %	0.3861%

	1M	3M	6M	9M	1R	3R p.a.	5R p.a.	7R p.a.	10R p.a.	od vnizku p.a.
Výkonnosť fondu	4.29%	4.70%	2.58%	11.80%	15.71%	2.32%	0.02%	1.18%	-2.26%	N/A
Priemerná výkonnosť (36 meraní)	0.89%				5.49%	-1.59%	-1.26%	-1.30%
Volatilita od priemernej výkonnosti	12.46%				28.56%	10.30%	4.69%	4.08%

Rozloženie aktív
	Long	Short	Net
Stock	97.97%		97.97%
Bond	0.15%		0.15%
Other
Cash	1.88%		1.88%

Veľkosť fondu
Aktíva	247 mil.
Počet akcíí	63
Počet dlhopisov	1

Nákladovosť fondu
Priebež. popl.	2.24
z toho Mng. popl.	1.75
Výk. prémia
Trans. popl.	0.89

Výnosovosť fondu
Dividenda
Dividendový výnos
Rozhodný dátum
Frekvencia výplaty

Akciové portfólio
Giant	39.59%
Large	37.48%
Medium	6.72%
Small	9.12%
Micro	0.58%

P/E	8.93%
P/BV	1.74%

Sektorové rozloženie
Basic Materials	10.88%
Consumer Cyclical	8.43%
Financial Services	23.21%
Real Estate	6.87%
Consumer Defensive	9.38%
Healthcare	4.03%
Utilities	7.52%
Communication Services	5.81%
Energy	9.65%
Industrials	11.14%
Technology	1.06%

Dlhopisové portfólio
Corporate	0.15
Derivatives	1.88

Výnos do splatnosti p.a.
Modifikovaná durácia

Kreditné rozloženie
AAA	0.00
AA	0.00
A	0.00
BBB	0.00
BB	0.00
B	0.00
Below B	0.00
Not Rated	100.00

Regionálne rozloženie
United States
Canada
Latin America	97.97%
United Kingdom
Eurozone
Europe - ex Euro
Europe - Emerging
Africa
Middle East
Japan
Australasia
Asia - Developed
Asia - Emerging
Emerging Market	97.97%
Developed Country
Not Classified

Top 10 pozícií
Spoločnosť	Subsektor	Váha	Spoločnosť	Subsektor	Váha
Petroleo Brasileiro SA Petrobras Participating Preferred	Energy	7.54%	Itau Unibanco Holding SA Participating Preferred	Financial Services	5.98%
Grupo Financiero Banorte SAB de CV Class O	Financial Services	5.15%	MercadoLibre Inc	Consumer Cyclical	3.67%
Fomento Economico Mexicano SAB de CV ADR	Consumer Defensive	3.48%	America Movil SAB de CV ADR - Series B	Communication Services	3.44%
Wal - Mart de Mexico SAB de CV	Consumer Defensive	3.44%	Equatorial Energia SA	Utilities	3.41%
Localiza Rent A Car SA	Industrials	3.4%	Rumo SA	Industrials	3.12%