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Αρχική σελίδα > Αμοιβαία Κεφάλαια > Ομολογιακά > ALPHA EURO (€) ΕΤΑΙΡΙΚΩΝ ΟΜΟΛΟΓΩΝ Classic (GRF000209004)


ALPHA EURO (€) ΕΤΑΙΡΙΚΩΝ ΟΜΟΛΟΓΩΝ Classic (GRF000209004) Αρ. Εγκρ. Ε.Κ. 20/Θέμα 9Δ/23.9.1994 Φ.Ε.Κ. 776/Β/13.10.94
Περιγραφή Α/Κ Χαρτοφυλάκιο και Αποδόσεις Ενημερωτικά Δελτία 3μηνιαίο δελτίο
Portfolio Breakdown

AA 6,7%
A 38,6%
BBB 40,7%
<BBB 14,0%
TOP HOLDINGS  31/12/2017 
GTB 0 02/02/18  4.8% 
AXASA 3 3/8 07/06/47  4.3% 
ALVGR 5 5/8 10/17/42  3.9% 
GTB 0 02/09/18  3.8% 
SOCGEN 4 1/4 07/13/22  3.8% 
SECTOR BREAKDOWN
Financials 42,1%
Oil & Gas 11,3%
Consumer Goods 10,1%
Utilities 8,7%
Industrials 6,8%
  Cumulative Return
PERIOD Benchmark M/F*
1yr (31/12/16-31/12/17) 2,41% 1,50%
3yrs (31/12/2014-31/12/17) 6,67% 3,60%
5yrs (31/12/2012-31/12/17) 18,04% 14,02%
* Calculations based on net unit price
Data update on 5/2/2018
Quarter Review
During the 4th quarter of 2017 the market of corporate bonds rose. The yield-to-maturity of government bonds dropped with the yield-to-maturity of the German 10-year bond falling to 0.43%. The spread of the benchmark’s corporate bonds against German government bonds dropped by 10bps to 86bps. The European Central Bank (ECB) left its interest rates unchanged at the December’s meeting. Mr. Draghi repeated that benchmark interest rates will remain at low levels for an extended period. ECB confirmed that they will continue buying assets until the end of September 2018, or beyond, if necessary, and in any case until they see a sustained adjustment in the path of inflation. In Spain, at the regional Catalonian elections, the pro-independence parties maintained the majority of seats at the local Parliament. The political risk regarding the upcoming elections in Italy, the elections’ result in Spain and the difficulties in creating a coalition government in Germany kept the government bond yields at low levels and the nervousness in periphery’s corporate bonds. Investment risk appetite for corporate bonds is supported by the ECB’s extended asset purchase program. The improvement of economic global conditions helps business profitability and keeps default rates at low levels. During this quarter, European companies’ financial results maintained the positive momentum.
ΟΙ Ο.Σ.Ε.Κ.Α. ΔΕΝ ΕΧΟΥΝ ΕΓΓΥΗΜΕΝΗ ΑΠΟΔΟΣΗ ΚΑΙ ΟΙ ΠΡΟΗΓΟΥΜΕΝΕΣ ΑΠΟΔΟΣΕΙΣ ΔΕΝ ΔΙΑΣΦΑΛΙΖΟΥΝ ΤΙΣ ΜΕΛΛΟΝΤΙΚΕΣ