S&P Fund Services Assigns Rating to Dominion Chic Fund

Standard & Poor’s Fund Services announced that it has assigned an A fund management rating to the Dominion Chic Fund….

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Launched in June 2007, the fund is the first to be developed in Dominion’s new Global Trends range.  It invests in luxury good stocks, defined as the providers of branded products or services that people spend disproportionately more on as their wealth and income increases.  Other characteristics that the team looks for are a scalable business model and the financial capacity to grow organically.

The fund aims to outperform both the MSCI World and MSCI Consumer Discretionary indices.  From launch until the end of September 2010, the fund has outperformed both of these indices, showing cumulative 7.6% points outperformance of the MSCI World and 17.2% points above the MSCI Consumer Discretionary Index.

The fund is run by two portfolio managers, Arjen Los and Paolo Baccanello.  They are supported by three investment analysts with five years’ average investment experience.

“The team believes that global luxury goods companies will benefit from the growth of emerging markets, led by the increase in consumption spending and the BRICS’ growing middle class.  Given the track record and the well-thought-out thematic investment approach, the fund achieves an S&P A rating,” said S&P Fund Services lead analyst, Randal Goldsmith.

Alex Bell, CEO of Dominion Group said, “We are very pleased with the rating from S&P Fund Services as it reflects the hard work that our investment team has put into developing this fund over the years. The performance over the past 12 months has been exceptional with outright growth of 30.96% in sterling. Our house view is that outlook for the CHIC will continue to positive through 2011/12. We are very proud of what we have achieved with CHIC both in terms of just how well the investment concept is working and returns it is achieving for investors.”

Source: ETFWorld – Standard & Poor’s