Total return: distributions reinvested. In EUR, the currency of the share class shown. Fund history to 28.09.2026. Benchmark history to 28.09.2026. Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.
Performance against the benchmark
1M
3M
6M
YTD
2025
2024
2023
1Y
3Y
5Y
Volatility
Sharpe R.
Max DD
FundISIN LU0968833664, currency EUR, retail share class
2.19
3.69
3.75
0.51
22.83
18.12
9.69
-0.38
14.84
9.77
8.56
1.34
-7.85
BenchmarkEUR 3-month deposit + 6%
0.70
2.07
4.13
5.48
8.52
10.15
9.64
8.31
9.23
8.37
–
–
–
Differencefund minus benchmark, in percentage points
1.50
1.62
-0.38
-4.97
14.30
7.97
0.04
-8.69
5.62
1.39
–
–
–
Within the list: OpenList — Alternatives
Compared with the alternative funds on OpenList — Alternatives (25 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.
This fund
Group median
Position
Return 1Y
-0.38
9.40
25 of 25
Return 3Y p.a.
14.84
11.35
5 of 25
3Y p.a. over its own benchmark
5.62
2.46
8 of 25
Volatility 3Y
8.56
5.42
24 of 25
Sharpe ratio 3Y
1.34
1.34
12 of 25
Max drawdown 3Y
-7.85
-3.40
23 of 25
Management fee
0.00%
1.01%
1 of 23 (2 without a value)
Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.
Return against risk, 3 years
WSP commentary
Draft commentary, machine-generated from the fund's prospectus dated 01.03.2026; key investor information document; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The fund is designed as a long-term equity investment seeking capital growth by investing in shares of American companies. Its PRIIPs summary risk indicator is 3 out of 7, described as medium-low risk, and the recommended holding period is 5 years. The target investors are those prepared to stay invested for at least 5 years and to accept a medium-low level of risk of loss to original capital in pursuit of higher potential return. Its concentrated US equity approach and integration of a separate ESG framework make it a distinct regional equity allocation rather than a broad multi-asset holding.
Investment strategy
The fund’s objective is to achieve capital growth over the long term by investing in shares of American companies. It invests principally in a concentrated selection of shares in American companies, defined as companies with their primary listing in the United States of America. The manager intends to remain substantially invested in this strategy, while holding some liquid assets in cash, cash equivalent investments, and government and investment grade corporate bonds for subscriptions, redemptions, expenses and settlement management. The fund does not track a particular benchmark, does not take short positions, does not use leverage for investing, and does not hedge markets; currency hedging may be used only for share classes described as hedged against the USD reference currency. Income treatment depends on share class, with both accumulation and distribution classes available.
Investment philosophy
• The portfolio is built from a concentrated selection of shares in American companies, defined as companies with their primary listing in the United States of America.
• The Investment Manager selects companies using its own fundamental research, taking a long-term horizon and always seeking quality and value.
• Quality is defined as companies that are industry leaders, have strong competitive positions and pricing power in structurally attractive and growing markets, have management teams with strong records of value creation and have robust balance sheets.
• Every company is analysed through both traditional financial analysis and a separate but integrated ESG Framework covering the SASB dimensions of Environment, Social Capital, Human Capital, Business Model & Innovation, Leadership & Governance, plus a sixth corporate governance dimension and qualitative assessment against the UN Sustainable Development Goals and other global norms.
• Portfolio implementation is constrained by a policy to remain substantially invested in the equity strategy, with only limited liquid asset holdings in cash, cash equivalents and government and investment grade corporate bonds for operational purposes; the fund will not take short positions, will not use leverage for investing and will not hedge markets.
The asset manager
The management company is Waystone Management Company (Lux) S.A., a Luxembourg management company authorised and supervised by the Commission de Surveillance du Secteur Financier. The investment manager is J. Stern & Co. LLP, a limited liability partnership incorporated under the laws of England and Wales, with company number OC378306 and registered office at 4 Carlton Gardens, London SW1Y 5AA, United Kingdom. J. Stern & Co. LLP is authorised and regulated by the United Kingdom Financial Conduct Authority under FCA reference number 588344. The distributor is J. Stern & Co. Limited, incorporated in Malta with registered office at 171 Old Bakery Street, Valletta, VLT 1455, Malta.
Strengths
The fund is distinguished by its concentrated US equity strategy focused on leading American companies with enduring competitive advantages and a long runway of growth. Its stock selection combines proprietary fundamental research with a separate ESG Framework that covers six dimensions, including a dedicated corporate governance analysis and qualitative alignment with the UN Sustainable Development Goals and other global sustainability norms. The Investment Manager also presents stewardship as a core element of the process, with direct engagement with company managements forming part of the ESG Framework. The fund’s structure is straightforward: no benchmark tracking, no shorting, no investment leverage and no market hedging.
Risks
The PRIIPs summary risk indicator is 3 out of 7, classified as medium-low risk. The fund is exposed primarily to equity market risk because it invests principally in a concentrated selection of US-listed shares, so market movements in those holdings can affect capital value. It also has currency risk because investors may receive payments in a different currency from the fund’s reference currency, and some share classes use currency hedging while others are unhedged. Additional risks identified include operational risk, and the prospectus also highlights concentration risk for this fund, noting that holding a relatively small number of stocks may make performance more volatile than a more diversified portfolio; where the fund holds depository receipts, there is also a risk that events affecting the underlying security may not be fully passed through.
WSP report
Ask WSP which research is available for this fund and what it covers.
Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years. Benchmark: each fund is measured against the index its own documents name. Where WSP measures a fund against a comparator of its own instead, the row names it: a tracker or a blend of the markets the fund invests in, or a cash-plus hurdle – means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero. Period figures as of 31.08.2026.
This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative
WSP commentary
Draft commentary, machine-generated from the fund's prospectus dated 01.03.2026; key investor information document; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The fund is designed as a long-term equity investment seeking capital growth by investing in shares of American companies. Its PRIIPs summary risk indicator is 3 out of 7, described as medium-low risk, and the recommended holding period is 5 years. The target investors are those prepared to stay invested for at least 5 years and to accept a medium-low level of risk of loss to original capital in pursuit of higher potential return. Its concentrated US equity approach and integration of a separate ESG framework make it a distinct regional equity allocation rather than a broad multi-asset holding.
Investment strategy
The fund’s objective is to achieve capital growth over the long term by investing in shares of American companies. It invests principally in a concentrated selection of shares in American companies, defined as companies with their primary listing in the United States of America. The manager intends to remain substantially invested in this strategy, while holding some liquid assets in cash, cash equivalent investments, and government and investment grade corporate bonds for subscriptions, redemptions, expenses and settlement management. The fund does not track a particular benchmark, does not take short positions, does not use leverage for investing, and does not hedge markets; currency hedging may be used only for share classes described as hedged against the USD reference currency. Income treatment depends on share class, with both accumulation and distribution classes available.
Investment philosophy
• The portfolio is built from a concentrated selection of shares in American companies, defined as companies with their primary listing in the United States of America.
• The Investment Manager selects companies using its own fundamental research, taking a long-term horizon and always seeking quality and value.
• Quality is defined as companies that are industry leaders, have strong competitive positions and pricing power in structurally attractive and growing markets, have management teams with strong records of value creation and have robust balance sheets.
• Every company is analysed through both traditional financial analysis and a separate but integrated ESG Framework covering the SASB dimensions of Environment, Social Capital, Human Capital, Business Model & Innovation, Leadership & Governance, plus a sixth corporate governance dimension and qualitative assessment against the UN Sustainable Development Goals and other global norms.
• Portfolio implementation is constrained by a policy to remain substantially invested in the equity strategy, with only limited liquid asset holdings in cash, cash equivalents and government and investment grade corporate bonds for operational purposes; the fund will not take short positions, will not use leverage for investing and will not hedge markets.
The asset manager
The management company is Waystone Management Company (Lux) S.A., a Luxembourg management company authorised and supervised by the Commission de Surveillance du Secteur Financier. The investment manager is J. Stern & Co. LLP, a limited liability partnership incorporated under the laws of England and Wales, with company number OC378306 and registered office at 4 Carlton Gardens, London SW1Y 5AA, United Kingdom. J. Stern & Co. LLP is authorised and regulated by the United Kingdom Financial Conduct Authority under FCA reference number 588344. The distributor is J. Stern & Co. Limited, incorporated in Malta with registered office at 171 Old Bakery Street, Valletta, VLT 1455, Malta.
Strengths
The fund is distinguished by its concentrated US equity strategy focused on leading American companies with enduring competitive advantages and a long runway of growth. Its stock selection combines proprietary fundamental research with a separate ESG Framework that covers six dimensions, including a dedicated corporate governance analysis and qualitative alignment with the UN Sustainable Development Goals and other global sustainability norms. The Investment Manager also presents stewardship as a core element of the process, with direct engagement with company managements forming part of the ESG Framework. The fund’s structure is straightforward: no benchmark tracking, no shorting, no investment leverage and no market hedging.
Risks
The PRIIPs summary risk indicator is 3 out of 7, classified as medium-low risk. The fund is exposed primarily to equity market risk because it invests principally in a concentrated selection of US-listed shares, so market movements in those holdings can affect capital value. It also has currency risk because investors may receive payments in a different currency from the fund’s reference currency, and some share classes use currency hedging while others are unhedged. Additional risks identified include operational risk, and the prospectus also highlights concentration risk for this fund, noting that holding a relatively small number of stocks may make performance more volatile than a more diversified portfolio; where the fund holds depository receipts, there is also a risk that events affecting the underlying security may not be fully passed through.