ALPHA TRUST ANDROMEDA INVESTMENT TRUST S.A. Q3 2023 | Shareholders Department: tel. + 30 210 6289341, email: m.printsiou@andromeda.eu|www.andromeda.eu |
Investment Focus
ALPHATRUST-ANDROMEDA Investment Trust S.A. is the only closed- end fund listed on the Athens Stock Exchange. Seeks to invest in fundamentally sound assets in the domestic equity and fixed income markets with a medium to long term horizon.
The portfolio is managed by ALPHATRUST.
Share Facts
NAV PER SHARE | € 7.92 |
SHARE PRICE | € 6.84 |
NAV | € 27.98 mn |
MARKET CAP | € 24.17 mn |
NUMBER OF SHARES | 3,534,269 |
Participation in Indices
FTSE/ATHEX High Dividend Yield Index
ATHEX ESG Index
ATHEX Select Index
Premium/Discount | |
Min 2023 | -19.70% |
Max 2023 | -9.57% |
Average 2023 | -14.76% |
30/09/2023 | -13.59% |
Manager's Comment
Greece's economy regained investment grade after 13 years. However, conditions both for the global and the domestic economy showed signs of worsening. At the international level, the continued increase in interest rates and their persistence at high levels, as well as the significant rise in the price of oil, which may feed back on inflationary pressures, are causing concern. Domestically, the catastrophic natural phenomena significantly affected agricultural and livestock production, inevitably affected the Athens Stock Exchange. Despite the deterioration of the investment sentiment, the IPO of a private bank was successfully carried out, after 17 years while at the same time the HFSF began the disinvestment of the banks.
At the macroeconomic level, according to data from the ELSTAT, during the 2nd quarter of 2023, Gross Domestic Product (GDP) increased by 2.7% compared to the corresponding quarter of 2022 (in volume terms and based on seasonally adjusted data). At the microeconomic level, based on the published half-year results, the majority of companies showed an improvement in organic profitability. In the current fiscal year, last year's extraordinary profits are absent, in sectors such as refining or metallurgy. In addition, increased financial costs negatively affected several groups with high debt obligations.
Consequently, in the 3rd quarter of 2023 the ASE Composite Index followed a corrective course, closing at 1,209.34 units after reaching the highest level of the year at 1,351.68 units in July, recording losses of 5.4%. However, since the beginning of the year the ASE Composite Index has registered a remarkable increase of 30.07%, being one of the highest returns worldwide.
Ιn the next quarter, the evaluation by two more investment houses is expected, new IPOs are planned while after the completion of the full privatization of EUROBANK, the HFSF is expected to proceed with the partial privatization of the National Bank.
Share Price & Nav Per Share Chart
11 | |||||||||||||||||
10 | |||||||||||||||||
9 | |||||||||||||||||
8 | |||||||||||||||||
7 | |||||||||||||||||
6 | |||||||||||||||||
5 | |||||||||||||||||
4 | |||||||||||||||||
03/22 | 04/22 | 05/22 | 06/22 | 07/22 | 08/22 | 09/22 | 10/22 | 11/22 | 12/22 | 01/23 | 02/23 03/23 | 04/23 | 05/23 | 06/23 | 07/23 | 08/23 | 09/23 |
Share Price | NAV Per Share | ||||||||
Equity Sector Allocation Note 2 | Top 10 Equity Holdings Note 2 | ||||||||
Consumer, Cyclical | 17.98% | Company | % of Total | ||||||
TITAN CEMENT INTERNATIONAL | 6.04% | ||||||||
Industrial | 15.71% | ||||||||
QUEST HOLDINGS | 5.84% | ||||||||
Technology | 14.02% | ||||||||
PPC | 5.36% | ||||||||
Consumer, Non-cyclical | 10.08% | HELLENIC TELECOM. | 5.19% | ||||||
ORGANIZATION | |||||||||
Basic Materials | |||||||||
7.00% | PETROS PETROPOULOS | 4.58% | |||||||
Financial | 6.05% | ||||||||
VIOHALCO SA/NV | 3.41% | ||||||||
Utilities | |||||||||
Equity 84.27% | 5.36% | ENTERSOFT | 3.26% | ||||||
Communications | 5.19% | FLEXOPACK | 3.22% | ||||||
Cash & Τbills 8.90% | |||||||||
Real Estate | 5.06% | MOTOR OIL HELLAS | 3.10% | ||||||
Bonds 3.50% | ELVE | 2.67% | |||||||
Buy-Back 3.33% | Energy | 4.14% | Total | 42.67% | |||||
1/2
Q3 2023 | Shareholders Department: tel. + 30 210 6289341, email: m.printsiou@andromeda.eu|www.andromeda.eu | ||
Company Overview | Comparative Performance (24/10/2011 - 30/09/2023) Note 2 | ||
INCEPTION DATE | 25/7/2000 | ||
LISTING DATE (IPO) | 19/12/2001 | 300% | |
250% | 219.42% | ||
DOMICILE | Greece | 200% | |
BASE CURRENCY | EUR | 150% | 111.19% |
100% | |||
Share Codes | ||
ISIN | GRS433003019 | |
OASIS (ASE) | ANDRO | |
BLOOMBERG | ANDRO GA | |
REUTERS RIC | ANDRr.AT | |
Performance update Note 3 | SCI Note 4 | |
(05/08/2022) | ||
NAV Per Share | 25.04% | |
Share Price | 15.18% | |
ATHEX Composite Total | 34.91% | |
Return Index | ||
50% | ||||||||||||||||
0% | ||||||||||||||||
-50% | ||||||||||||||||
10/2011 | 01/2013 | 03/2014 | 05/2015 | 07/2016 | 10/2017 | 12/2018 | 02/2020 | 05/2021 | 07/2022 | 09/2023 | ||||||
NAV Per Share | Athex Composite Total Return Index | |||||||||||||||
Performance update Note 3 | Q3 | YTD | 2022 | 2021 | 2020 | 2019 | 2018 | |||||||||
NAV Per Share | -4.44% | 19.21% | -12.55% | 24.75% | 7.88% | 24.35% | -2.45% | |||||||||
Share Price | -1.44% | 12.13% | -21.29% | 33.62% | -3.45% | 20.18% | 12.12% | |||||||||
ATHEX Composite Total | -5.08% | 33.21% | 4.08% | 12.69% | -9.03% | 53.64% | -21.97% | |||||||||
Return Index | ||||||||||||||||
Dividend yield Comparison Note 5
9.20% | |||||||||||||||||
6.00% | 7.39% | ||||||||||||||||
4.62% | |||||||||||||||||
3.38% | 3.24% | 3.60% | |||||||||||||||
2.52% | 2.79% | 3.08% | |||||||||||||||
1.79% | 1.92% | 2.09% | 2.05% | ||||||||||||||
0.96% | |||||||||||||||||
0.00% | 0.00% | 0.00% | |||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |||||||||
ALPHA TRUST-ANDROMEDA(CR) | ATHEX COMPOSITE SHARE PRICE INDEX | ||||||||||||||||
Risk Return Data Note 6 | Dividends (D) & Capital Returns (R) | ||||||||||||||||
VOLATILITY
ALPHA TRUST-ANDROMEDA | 11.92% | BETA | 0.59 |
ATHEX COMPOSITE | 17.27% | R SQUARE | 73.43% |
SHARE PRICE INDEX | |||
SHARPE | 1.59 | CORRELATION | 0.86 |
RATIO | |||
SORTINO | 1.774 | ||
RATIO | |||
Source: ALPHA TRUST, Athens Stock Exchange, Bloomberg |
Ex. Date | Type | € / share | Ex. Date | Type | € / share | Ex. Date | Type | € / share | ||
(22/05/23) | D | 0.200 | (12/08/19) | R | 0.188 | (29/09/09) | R | 1.500 | ||
(08/12/22) | D | 0.180 | (05/04/18) | D | 0.188 | (26/03/09) | R | 3.000 | ||
(23/05/22) | D | 0.256 | (29/04/14) | D | 0.200 | (14/08/08) | D | 2.000 | ||
(12/01/22) | D | 0.128 | (23/11/11) | R | 25.000 | (12/03/08) | D | 3.750 | ||
(15/12/21) | D | 0.128 | (09/09/11) | R | 1.250 | (10/08/07) | D | 2.500 | ||
(29/06/21) | D | 0.445 | (21/03/11) | R | 2.500 | (09/03/07) | D | 4.250 | ||
(24/09/20) | R | 0.188 | (10/09/10) | R | 1.250 | (10/08/06) | D | 2.000 | ||
(31/12/19) | R | 0.188 | (22/04/10) | D | 2.500 | |||||
Notes: 1. Average weighted quarterly data, 2. 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, 3. Performance is dividend adjusted, excluding Own Shares, 4. Share Capital Increase, 5. Adjusted for the 1/100 Reverse Split on 03/09/2012 and the split (4:1) on 27/10/2021, 6. Risk-Returns performance measures for the last year of observations
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 0.99% ALPHA TRUST-ANDROMEDA Investment Trust S.A. shares, while is entitled to exercise voting rights corresponding to 26.12% in total, of the total number of voting rights attached to ALPHA TRUST-ANDROMEDA Investment Trust S.A. shares (data as at 29/09/2023).
ALPHA TRUST ANDROMEDA INVESTMENT TRUST S.A. HELLENIC CAPITAL MARKET COMMISSION
Authorisation No.: 5/192/6.6.2000, General Electronic Commercial Registry No. 003882701000, LEI 213800USGL7Q5UR9M221
2/2
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Alpha Trust Andromeda Investment Trust SA published this content on 16 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 October 2023 12:32:25 UTC.
