Labrusca Fund - Global has exposure to a variety of currencies through equity holdings in different regions, as seen in the figure below (3). The base currency for the fund is EUR but we offer share classes in other currencies: USD, GBP, CHF, SEK or NOK (1). The different share classes are unhedged against the base currency of the fund (2). However, even if your domestic currency is not EUR, you can still choose to invest in the EUR-class. Please note that the management fee and performance fee of the fund are calculated in EUR, on fund-level (2).

An example with SEK-class: If the performance of the fund one year is 10% in EUR, and the EUR weakens 10% against SEK that same year, the performance in the SEK-class will be zero that year. But the performance fee is calculated on fund-level in EUR, and with EURIBOR 3M interest rate of 2% that year, the performance fee is 1,6% (20 percent of 8 percent). In a year where EUR is stronger against SEK, you will have the opposite effect. 

Due to the perceptual consequences for non-EUR currency-classes of the calculation of performance fee on fund level, we advise our investors to invest through the EUR-class.