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Bellevue F (Lux) BB Entrepreneur EurSmall B EUR

Ranked 19 out of 213 in - European Small & Medium Companies over 12 months
All calculations are in EUR unless stated

Managed by

Birgitte Olsen

Born in the Norwegian town of Bodö in 1966, Birgitte Olsen obtained her degree from the University of St Gallen in Switzerland. She started her career as a financial controller at Capital Entertainment in 1992, before joining Bank am Bellevue as an equity analyst. Over her professional career, she has worked at asset management houses Vontobel, Generali and GVO before returning to the asset management arm of Bellevue as a senior portfolio manager. Birgitte benefits most from positive or sideways markets, adopting a stock-picking investment style for the funds that she runs. She looks for growth at a reasonable price and her key valuation metrics are price-to earnings, enterprise value-to-earnings and return on capital employed ratios. Birgitte is a CFA Charterholder and outside of fund management she enjoys skiing, playing chess and fishing.


The Fund invests in small capitalized, listed owner-managed companies in Europe where an entrepreneur/founder family holds at least a 20% of a companys voting rights, thereby exerting signif. influence. The Mgmt team pursues a fundamental, bottom-up approach in identifying the most attractive founder-controlled companies while maintaining an investment portfolio diversified by country & sector.

Showing fund performance globally. You can view performance in individual jurisdictions.


European Small & Medium Companies over : 31/10/2015 - 31/10/2016
  • Rank 19/213 Total Return
  • Rank 40/213 Standard Deviation
  • Rank 22/213 Max Drawdown
Fund Name Currency Return
17 Anthracite B EUR


18 Federal Multi PME EUR


19 Bellevue F (Lux) BB Entrepreneur EurSmall B EUR EUR




21 C+F Vega Equity Cap EUR


Total Return

Quarterly Performance

to 30/09/2016 Annual Q1 Q2 Q3 Q4
2016 -2.1% -2.3% 10.9%
2015 29.0% 26.3% 0.6% -8.2% 10.6%
2014 10.1% 10.2% 4.4% -7.2% 3.1%
2013 32.4% 4.5% 3.2% 11.9% 9.8%
2012 12.7% 10.5% -7.0% 4.4% 5.1%
2011 -17.5% 3.4%

Month by Month Performance

Returns Vs Risk

Asset Allocation



Top 10 Holdings

Stock Size
P/F Bakkafrost ORD 4.22
Uponor Oyj ORD 3.83
IMA Industria Macchine Automatiche SpA ORD 3.81
FILA Fabbrica Italiana Lapis ed Affini SpA ORD 3.59
Aroundtown Property Holdings PLC ORD 3.04
Veidekke ASA ORD 2.94
Porr AG ORD 2.92
Lem Holding SA ORD 2.86
Palfinger AG ORD 2.83

Registered For Sale In

  1. Austria
  2. Germany
  3. Luxembourg
  4. Spain
  5. Switzerland
  6. United Kingdom

Fund Info

  • Launch date30/06/2011
  • Share Class size38Mn
  • Base currencyEUR
  • ISIN LU0631859229

Purchase Info

  • Min. initial investment0
  • Min. regular additional investment0


  • Annual management1.60%

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Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in the currency and currencies indicated).