Delubac Emergents

The SFDR (Sustainable Finance Disclosure Regulation) is an indicator for ranking the various sustainability categories according to their characteristics: Article 6: the product has no sustainability objective Article 8: the communication of a product incorporates environmental and social characteristics even if this is not its focal point or the focal point of the investment process. The product promotes environmental or social characteristics, or a combination thereof, insofar as the companies in which the investments are made apply good governance practices Article 9: the product has a sustainable investment objective

Morningstar gives a rating from one to five stars to every fund at least three years old. The rating is based on relative returns and  adjusted according to fluctuations in a fund’s monthly performance, paying particular attention to downward fluctuations while rewarding regular performance. The funds that rank among the best 10% in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the last 10% receive 1 star. A fund’s Overall Morningstar Rating is calculated from the weighted average of the performance figures underlying its Morningstar Rating over three, five and ten years (if applicable)

This is an analysis of the fund’s past behaviour in different market conditions, from very bearish to very bullish, over 60 months (or less if the fund is less than 5 years old). The average ranking by decile of the fund for each market trend is used to consider it as very good (D1 and D2), good (D3 and D4), average (D5 and D6), bad (D7 and D8) or very bad (D9 and D10).