Our Sole Aim:

Protect & Grow your capital

An Independent Asset Manager Serving Its Investor Base

Dear Investors,

Your World Winners fund climbed +11.1%, in line with its index.

Our discretionary management mandates were also up sharply in 2016.

We are satisfied with these performances in such a turbulent market environment (Brexit, Trump’s election, Italian referendum).

Since the  Brexit, World Winners has bounced back 16.5%, confirming our recommendation to ” buy while taking the Brexit on board ” from 28 June.

Once again, our fundamental, contrarian and conviction-based approach, built around the potential for future value growth, paid off. We do not seek to follow fashions (short-term momentum management), but to create value over the long term, as we have done for the past 20 years. Our priority is to ensure that the capital is protected (we have very significant investments in the fund) by avoiding (numerous) valuation bubbles, even if this means temporarily underperforming compared with a particular index.

From our perspective, 2016 marked the end of the cycle of rate cuts that began more than 35 years ago. This paradigm shift will have far-reaching implications for the financial markets. Indeed, lower interest rates inflated the value of many assets while encouraging index tracking and trend following. Conversely, the end of the cycle of rate cuts is expected to benefit active management and particularly our value contrarian management.

We will continue to invest according to our prudent approach, remaining extremely selective.

At cycle lows, value equities, which are our speciality, are one of the few asset classes to have strong upside potential.

Your World Winners fund is an outstanding core portfolio invested in around 40  market-leading companies that are  poorly understood and unpopular with investors, and therefore clearly undervalued.

We have ideas for diversification into bonds, especially international/emerging market bonds, which will allow our customised diversified mandates to grow your assets over the long term.

We are very confident in our ability to deliver performance for your portfolios, as the market always ends up recognising undervalued companies.

On this optimistic note, we would like to wish you an excellent 2017!



PREVAL is a société anonyme having its registered office at 11 boulevard Royal, L-2449 Luxembourg, entered in the Trade and Companies Register under number B190081 PREVAL, acting as a management company subject to the provisions of Chapter 15 of the collective investment schemes act of 17 December 2010, as amended, and authorised and overseen in Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF).

Access to this website is subject to the following conditions:

By viewing and using the PREVAL website (hereinafter the Website), you (hereinafter the User) expressly accept the user terms and note the legal information provided hereunder. Please leave the Website now if this is not the case.

Information on this Website:

The content has been drawn from publically available information, internally produced data and other external sources. PREVAL tries to select the information that it puts on this Website carefully. However, it cannot provide any kind of guarantee that it is accurate, reliable or exhaustive. Any decision taken on the basis of this information is therefore reached at the User’s sole risk. PREVAL declines all responsibility for any direct or indirect loss or damage incurred. PREVAL also reserves the right to edit the content of this Website at any time without notice.

The Website contains information presenting various undertakings for collective investment in transferable securities registered at the very least in their home country and Luxembourg.

It may be that the products and services shown on the Website are not authorised for sale to persons subject to a jurisdiction outside Luxembourg due to their nationality, place of residence or any other reason. Users are responsible for checking restrictions on the sale of the products and services in question. Any investment made on the basis of this Website must comply with the laws and regulations applicable to each User.

Past performance does not guarantee future performance. An investment may appreciate or depreciate for various reasons, and investors may lose money. Exchange rate fluctuations may also cause the value of investments to rise or fall.

The information published on this Website does not constitute an investment recommendation or financial advice, as each visitor has individual objectives and needs when viewing the Website. Before any subscription to a UCITS, you should carefully read the regulatory documents (KIID, prospectus), which can be downloaded from the Website.

Accept Reject