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ANREPA Asset Management AG
Neuhofstrasse 12
6340 Baar

T +41 41 725 23 05

 



Deep Research Fund
Return Analysis

DEEP RESEARCH FUND – RETURN ANALYSIS

Learn all about the return ana­l­ysis of the Deep Res­e­arch Fund


We ana­lyze and report ann­u­ally on the dif­f­e­rent fac­tors that lead to the Deep Res­e­arch Fund’s return.

 

The fund’s return is in pri­n­c­ipal com­p­r­ised of the cap­ital gains, div­i­dend pay­m­ents, and cur­r­ency exp­o­s­ures of the var­ious stocks in the fund. We go one step fur­ther and ana­lyze the cap­ital gains of the stocks in more detail. Here you can find the annual ana­l­ysis and an exp­l­a­nation of the dif­f­e­rent return dri­vers since the inc­e­p­tion of the fund in 2016. Under Ins­i­ghts, you can read a report called Return Ana­l­ysis that pro­v­ides a det­a­iled exp­l­a­nation of our return ana­l­ysis with a des­c­r­iption of how the return can be broken down into the fac­tors shown below.

 

 


Explanation of the net return per Year





Explanation of the net return of 13.6% in 2024

Deep Research Fund – Class A


Positive Contribution
Negative Contribution
Gross Return


20.0%
15.0%
10.0%
5.0%
0.0%
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
15.0%
Total expense ratio (TER)
–1.3%
Other
–0.1%
Net Return
13.6%


Annual Return


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Explanation of the net return of 16.9% in 2023

Deep Research Fund – Class A


Positive Contribution
Negative Contribution
Gross Return


30.0%
20.0%
10.0%
0.0%
–10.0%
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
18.4%
Total expense ratio (TER)
–1.3%
Other
–0.2%
Net Return
16.9%


Annual Return


Download PDF

Explanation of the net return of –20.5% in 2022

Deep Research Fund – Class A


Positive Contribution
Negative Contribution
Gross Return


30.0%
20.0%
10.0%
0.0%
–10.0%
–20.0%
–30.0%
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
–19.5%
Total expense ratio (TER)
–1.3%
Other
0.2%
Net Return
–20.5%


Annual Return


Download PDF

Explanation of the net return of +28.3 % in 2021

Deep Research Fund – Classe A


Positive Contribution
Negative Contribution
Gross Return


50 %
40 %
30 %
20 %
10 %
0 %
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
29.8 %
Total Expense Ratio (TER)
(1.3 %)
Other
(0.2 %)
Net Return
28.3 %


Annual Return


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Explanation of the net return of +12.7% in 2020

Deep Research Fund – Class A


Positive Contribution
Negative Contribution
Gross Return


30.0%
20.0%
10.0%
0.0%
–10.0%
–20.0%
–30.0%
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
14.1%
Total Expense Ratio (TER)
–1.3%
Other
0.0%
Net Return
12.7%


Annual Return


Download PDF

Explanation of the net return of +32.7% in 2019

Deep Research Fund – Class A


Positive Contribution
Negative Contribution
Gross Return


40%
30%
20%
10%
0%
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
34.4%
Total Expense Ratio (TER)
–1.4%
Other
–0.3%
Net Return
32.7%


Annual Return


Download PDF

Explanation of the net return of –11.6% in 2018

Deep Research Fund – Class A


Positive Contribution
Negative Contribution
Gross Return


15.0%
10.0%
5.0%
0.0%
–5.0%
–10.0%
–15.0%
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
–10.4%
Total Expense Ratio (TER)
–1.5%
Other
0.4%
Net Return
–11.6%


Annual Return


Download PDF

Explanation of the net return of +17.6% in 2017

Deep Research Fund – Class A


Positive Contribution
Negative Contribution
Gross Return


25%
20%
15%
10%
5%
0%
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
19.3%
Total Expense Ratio (TER)
–1.6%
Other
–0.1%
Net Return
17.6%


Annual Return


Download PDF

Explanation of the net return of +5.1% in 2016

Deep Research Fund – Class A


Positive Contribution
Negative Contribution
Gross Return


10%
8%
6%
4%
2%
0.0%
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
7.2%
Total Expense Ratio (TER)
–2.5%
Other
0.4%
Net Return
5.1%


Annual Return


Download PDF

Explanation of the net return of 9.2% since inception in 2016

Deep Research Fund – Class A


Positive Contribution
Negative Contribution
Gross Return


15.0%
10.0%
5.0%
0.0%
Revenue
Operating Margin
Valuation
Net Debt
Leverage
# of shares
Dividend
FX
Cash Impact
Gross Return



Gross Return
10.7%
Total expense ratio (TER)
–1.5%
Other
0.0%
Net Return
9.2%


Annual Return


Download PDF

DEEP RESEARCH FUND – INSIGHTS

Find out more about our inv­e­s­tment phi­l­o­sophy and our inv­e­s­tment pro­cess.


Here we pro­vide add­i­t­ional ins­ight into spe­c­ific asp­ects of our inv­e­s­tment pro­cess. Don’t hes­i­tate to reach out if you have any que­s­t­ions. We would love to chat with you.

 

 


DEEP RESEARCH FUND – Contact

Any Questions?


If you have any questions, please do not hesitate to contact us.

 

ANREPA Asset Management AG
Neuhofstrasse 12, 6340 Baar
T +41 41 725 23 03



Remo di Giorgio

+41 41 725 23 05

remo.digiorgio@anrepa.ch

DEEP RESEARCH FUND


Lorenz Arnet

+41 41 725 23 03

lorenz.arnet@anrepa.ch

DEEP RESEARCH FUND



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ANREPA Asset Management AG
Neuhofstrasse 12
6340 Baar
T +41 41 725 23 05

 

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