Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

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LU2095319765
(Natixis) Thematics Subscription Economy Fund

  • Equities
  • Global
  • USD Cash
  • Accumulating
Invest with
USD Cash
Payout type
Accumulating
Risk rating
6
About this fund
Description
The Fund aims to achieve long-term capital growth by investing primarily in companies that provide products or services on a subscription basis with an attractive risk-return profile driven by secular trends.
Key information
Annual report
Key fact sheet
Prospectus
Information Memorandum
Factsheet
Our perspective
Why we think this fund is best-in-class
product
Product
Offers unique exposure to companies offering products and services with a subscription model, which are naturally defensive due to higher visibility of future cash flows The Fund's investment universe is diverse enough with approximately 250-300 names but has room for growth as the advancement of technology allows for easier subscription and better customisation for the shifting preferences of consumers. The Fund has a slight bias towards small and mid-cap stocks, as well as towards growth style as compared to the MSCI AC World Index.
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people
People
Managed by Nolan Hoffmeyer, who has had more than 10 years of investment experience. Prior to joining the Fund, Nolan spent 6 years in Pictet Asset Management co-managing their Digital fund. Nolan is supported by a co-portfolio manager Walid Azar Atallah who has 7 years of investment experience managing thematic equity funds in CPR and Decalia Asset management.
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performance
Performance
The Fund's growth profile and focus on smaller companies should allow the Fund to perform strongly in environments favorable for growth companies.
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process
Process
The team seeks sustainable long term alpha by first understanding the primary forces behind different secular growth trends, and identify the most attractive opportunities where multiple forces converge and reinforce one another to give rise to a theme. Themes are subsequently judged by 3 factors: long term premium over the market, the length of duration (at least 10 years) to prove that the theme outlives business cycles as well as short term trendiness, and how broad and deep are the themes to create a diversified portfolio of high conviction stocks. From there, exposure of individual stocks in themes will be based on earnings sensitivity as well as whether companies have carved themselves out as the leader within that specific area.
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cost
Cost
Retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.
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selectionCriteria
How it fits in a portfolio
Investors looking for specific exposure to thematic strategies can consider the Fund as a satellite portfolio to complement other equity funds. However, investors should be aware that these strategies are narrower in scope than traditional funds and thus are typically more volatile in nature. Investors should ensure that they construct their portfolio to build more diversity and avoid concentration risks.
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Invest in this fund
Performance
Shows the total return of this accumulating fund, which includes dividends reinvested.
Total returns
All Time
48.38%
YTD
2.93%
1 month
-2.17%
6 month
0.66%
1 year
9.39%
3 year
32.67%
5 year
14.51%
As of Aug 2025
Distributions
This is an accumulating fund, so dividends are re-invested at the fund level.
Risk metrics
Max drawdown
-35.36%As of Aug 2025
Volatility
19.41%As of Aug 2025
Calendar returns
YearTotalJanFebMarAprMayJunJulAugSepOctNovDec
2025-5.2%-2.8%-5.3%4.0%4.8%1.9%-2.2%-2.2%----
202413.7%1.5%-0.4%0.7%-5.6%3.9%3.4%0.6%2.9%1.5%-0.6%9.5%-3.8%
202320.9%8.7%-3.5%3.3%0.3%-3.5%4.9%3.8%-2.3%-4.1%-2.8%9.9%5.9%
2022-28.7%-11.3%-2.7%3.0%-11.7%-2.8%-5.7%9.8%-3.5%-9.7%7.1%3.9%-6.6%
2021-0.6%-0.8%1.9%-4.7%5.1%-0.7%3.9%0.8%0.4%-4.8%4.5%-5.2%-0.2%
Load more5 of 7
Top Exposures
Nasdaq Inc4.00%
CoStar Group Inc3.74%
S&P Global Inc3.73%
Microsoft Corp3.68%
Intuit Inc3.33%
Wolters Kluwer NV3.25%
MSCI Inc3.12%
HubSpot Inc3.10%
Costco Wholesale Corp2.98%
RELX PLC2.92%
Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.
Fund fees
2.00%1.13% p.a.
Save 43%
Fund facts
ISIN
LU2095319765
Fund house
Thematics AM
Fund size
US$62.7M
As of 08 Sep 2025
Fund inception date
23 Dec 2019
Fund class currency
USD
Oldest share inception date
23 Dec 2019
Pricing frequency
Daily

Warning statements

  • All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
  • Past performance is not indicative of future performance.
  • Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
  • If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

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