Morningstar Fund Report  | 02/04/2025Print

Heptagon Fund ICAV - Kopernik Global All-Cap Equity Fund C USD Acc

Performance History28/02/2025
Growth of 1,000 (GBP) Advanced Graph
Heptagon Fund ICAV - Kopernik Global All-Cap Equity Fund C USD Acc
Fund22.2-3.411.28.23.1
+/-Cat7.26.41.8-0.71.0
+/-B’mrk3.24.6-3.4-10.21.3
 
Category: Global Flex-Cap Equity
Category Benchmark: Morningstar Global All Cap ...
Key Stats
NAV
31/03/2025		 USD 240.47
Day Change -0.75%
Morningstar Category™ Global Flex-Cap Equity
ISIN IE00BH4GY777
Fund Size (Mil)
31/03/2025		 USD 1318.17
Share Class Size (Mil)
31/03/2025		 USD 39.35
Max Initial Charge 3.00%
Ongoing Charge
28/03/2024		  1.10%
Investment Objective: Heptagon Fund ICAV - Kopernik Global All-Cap Equity Fund C USD Acc
The investment objective of the fund is to achieve long-term capital appreciation.
Returns
Trailing Returns (GBP)31/03/2025
YTD7.37
3 Years Annualised9.02
5 Years Annualised18.31
10 Years Annualised12.73
12 Month Yield 0.00
Management
Manager Name
Start Date
David Iben
16/12/2013
Inception Date
16/12/2013

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI ACWI NR USDMorningstar Global All Cap TME NR USD
Portfolio Profile for  Heptagon Fund ICAV - Kopernik Global All-Cap Equity Fund C USD Acc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock89.050.0089.05
Bond0.000.000.00
Property0.000.000.00
Cash10.730.0010.73
Other0.220.000.22
Top 5 Regions%
Asia - Developed25.64
Canada14.62
United States12.11
Asia - Emerging11.94
Africa10.60
Top 5 Sectors%
Basic Materials30.89
Energy13.72
Communication Services12.67
Industrials12.33
Consumer Defensive9.43
Top 5 HoldingsSector%
LG Uplus CorpCommunication ServicesCommunication Services3.97
Impala Platinum Holdings LtdBasic MaterialsBasic Materials3.45
Anglo American Platinum LtdBasic MaterialsBasic Materials3.21
KT Corp ADRCommunication ServicesCommunication Services2.99
K+S AGBasic MaterialsBasic Materials2.74
Increase Decrease New since last portfolio
Heptagon Fund ICAV - Kopernik Global All-Cap Equity Fund C USD Acc
Growth Of 1000 (GBP) 28/02/2025
Fund:  Heptagon Fund ICAV - Kopernik Global All-Cap Equity Fund C USD Acc
Category:  Global Flex-Cap Equity
Category Index:  Morningstar Global All Cap TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)28/02/2025
 201820192020202120222023202428/02
Price Return-6.316.6934.3522.20-3.4511.258.163.11
+/- Category4.21-10.3920.057.176.361.77-0.741.05
+/- Category Index-2.07-14.6521.863.204.60-3.39-10.161.33
% Rank in Category269182121355431
Trailing Returns (GBP)31/03/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.75   0.70-0.61
1 Week-1.51   0.851.30
1 Month4.13   9.2110.31
3 Months7.37   10.5611.88
6 Months7.45   8.676.52
YTD7.37   10.5611.88
1 Year13.17   14.269.26
3 Years Annualised9.02   6.362.05
5 Years Annualised18.31   7.194.35
10 Years Annualised12.73   5.592.71
 
Category: Global Flex-Cap Equity
Category Index: Morningstar Global All Cap TME NR USD
Quarterly Returns (GBP)28/02/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20242.621.463.800.08
20230.74-0.477.253.45
2022-3.74-7.052.045.76
20218.239.652.390.56
2020-11.6435.980.6611.08
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageLow4 star
5-YearHighBelow Average5 star
10-YearHighAverage5 star
OverallHighBelow Average5 star
 
Category :  Global Flex-Cap EquityClick here to see our Methodology
Volatility Measurements28/02/2025
 
3-Yr Std Dev10.02 %
3-Yr Mean Return8.27 %
 
3-Yr Sharpe Ratio0.41
 
Modern Portfolio Statistics28/02/202528/02/2025
 Standard IndexBest Fit Index
 Morningstar Global All Cap TME NR USD  Morningstar Global Bas Mat TME NR USD
3-Yr Beta0.730.62
3-Yr Alpha-1.664.24
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 4213-
Market Capitalisation% of Equity
Giant5.41
Large27.11
Medium36.56
Small24.73
Micro6.20
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings5.340.31
Price/Book0.610.26
Price/Sales0.490.26
Price/Cash Flow3.090.29
Dividend-Yield Factor4.562.50
 
Long-Term Projected Earnings Growth8.120.75
Historical Earnings Growth-13.23-2.55
Sales Growth-3.45-1.13
Cash-Flow Growth-14.93-2.05
Book-Value Growth2.630.47
 
Category: Global Flex-Cap Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock89.050.0089.05
Bond0.000.000.00
Property0.000.000.00
Cash10.730.0010.73
Other0.220.000.22
World Regions28/02/2025
 % of EquityRelative to Category
United States12.110.21
Canada14.625.09
Latin America5.994.31
United Kingdom4.420.66
Eurozone6.420.56
Europe - ex Euro0.000.00
Europe - Emerging1.9414.95
Africa10.6026.90
Middle East0.060.15
Japan5.591.33
Australasia0.691.37
Asia - Developed25.6410.35
Asia - Emerging11.944.62
 
Category: Global Flex-Cap Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials30.897.23
Consumer CyclicalConsumer Cyclical4.030.39
Financial ServicesFinancial Services5.320.45
Real EstateReal Estate0.120.04
Consumer DefensiveConsumer Defensive9.431.65
HealthcareHealthcare3.320.26
UtilitiesUtilities6.082.82
Communication ServicesCommunication Services12.671.80
EnergyEnergy13.726.83
IndustrialsIndustrials12.330.77
TechnologyTechnology2.080.08
 
Category: Global Flex-Cap Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings110
Total Number of Bond Holdings0
Assets in Top 10 Holdings28.69
NameSectorCountry% of Assets
LG Uplus Corp308Korea, Republic Of3.97
Impala Platinum Holdings Ltd101South Africa3.45
Anglo American Platinum Ltd101South Africa3.21
KT Corp ADR308Korea, Republic Of2.99
K+S AG101Germany2.74
CK Hutchison Holdings Ltd310Hong Kong2.67
Golden Agri-Resources Ltd205Mauritius2.55
National Atomic Co Kazatomprom JSC ADR309Kazakhstan2.53
Seabridge Gold Inc101Canada2.46
Range Resources Corp309United States2.13
 
Increase Decrease New since last portfolio
Category: Global Flex-Cap Equity
 
Management
Name of CompanyHeptagon Capital Limited
Phone-
Website -
Address171, Old Bakery Street
 Valletta   VLT1455
 Malta
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date16/12/2013
Fund Advisor(s)
Heptagon Capital Limited
Fund ManagerDavid Iben
Manager Start Date16/12/2013
Career Start Year1981
Education
1979, University of California, Davis, B.A.
1982, University of Southern California, M.B.A.
 
Biography
David Iben is the Lead Portfolio Manager of the Kopernik Global All-Cap and the Global Unconstrained strategies and the co-Portfolio Manager of the Kopernik International and Global Long-Term Opportunities strategies. He is the Chief Investment Officer, Managing Member, Founder, and Chairman of the Board of Governors of Kopernik Global Investors. Prior to Kopernik, Dave managed the $2.7 billion Global Value Long/Short Equity portfolio at Vinik Asset Management, where he was a director and head of the Global Value team (July 2012 through March 2013). Prior to this, Dave was lead portfolio manager, co-founder, chief investment officer, co-president, and lead portfolio manager of Tradewinds Global Investors, LLC, a $38 billion (at February 2012) investment firm. He continually sole-managed equity portfolios for Tradewinds (inclusive of its two predecessor firms) from October 1998 through February 2012. He was the portfolio manager for the firm’s Global All-Cap strategy, North American All-Cap strategy, and Global Long/Short strategy, directly managing more than $20 billion assets at the time of his departure. He was a co-Founder and Lead Portfolio Manager of Palladian Capital Management. From 1996 through 1998 Dave was a senior portfolio manager at Cramblit & Carney. He began his career with Farmers Group, Inc. where over the course of 14 years, he worked his way up from securities analyst/trader to portfolio manager and eventually to director of research and lead portfolio manager for both equity and fixed income strategies. At the time of his departure in 1996, Dave was acting as Farmers’ chief investment officer responsible for $16 billion of investable assets. Dave earned his bachelor’s degree from University of California, Davis, and his MBA from the University of Southern California Marshall School of Business. He holds the Chartered Financial Analyst® designation.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge3.00%
Max Exit Charge*3.00%
Annual Charges
Max Annual Management Charge0.90%
Ongoing Charge1.10%
Purchase Details
Minimum Investments
Initial1000000  USD
Additional1000000  USD
Savings-
Tax Free Savings Schemes
ISAsYes