Luxury: resilience, growth, and valuation opportunity? – Tema ETFs – 6.5.23


Title: Luxury: resilience, growth, and valuation opportunity?
Date: Monday, June 5, 2023
Time: 1:00 PM Eastern Daylight Time
Duration: 1 hour

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The luxury sector has had a stellar start to the year backed by record earnings, but questions are arising on valuations and a potential US slowdown. Despite record share prices, luxury valuations remain below their 10-year average which we see as an opportunity. Please join our luxury ETF Portfolio Manager Javier G. Lastra, CFA and our Tema ETFs Chief Investment Officer Yuri Khodjamirian, CFA for an interactive discussion around luxury growth and resilience, and sector valuations in context of Greater China’s reopening.

The speakers will cover the following topics:

  • What makes luxury an enduring quality theme – exploring the sector’s unique features.
  • How to build conviction in the luxury theme’s sources of long-term growth.
  • Luxury valuations remain below their 10-year average despite record share prices.
  • The potential advantages of using active management to invest in luxury.
  • Where the luxury sector could fit in a portfolio.
  • The outlook for the luxury sector and read across for other corners of the equity market.

Accepted for 1 CFP® / IWI / CFA CE Credit.


Javier G. Lastra, CFA Javier G. Lastra, CFA Portfolio Manager Tema Luxury ETF

Javier is a consumer sector expert with over 23 years of investment research experience. He is the former head of beverage sector equity research at Berenberg and Exane. He is also the former head of consumer staples research at Goldman Sachs. He has ranked in the top 3 on Extel investor surveys. Javier holds a BA from CUNEF Business School, an Executive Program from Kellogg School of Management, and is a CFA charter holder.

Yuri Khodjamirian, CFA Yuri Khodjamirian, CFA Chief Investment Officer Tema ETFs

Yuri spent over a decade at Majedie Asset Management managing UK and Global portfolios. As co-manager of the Majedie UK Income Fund, he helped build the fund from start-up stage to one of the best performing funds in the sector raising several billion in assets. He later set up his own long-only fund and sits on the board of a private Scandinavian biotechnology company. He holds degrees in Economics from University of Cambridge and LSE (distinction), as well as a degree in Bioscience Enterprise from University of Cambridge. Yuri is a CFA charter holder.

Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s prospectus, which may be obtained by visiting Read the prospectus carefully before investing.

Investing involves risk including possible loss of principal. There is no guarantee the adviser’s investment strategy will be successful.

Sector Focus Risk: The Fund may invest a significant portion of its assets in one or more sectors, including Consumer Discretionary and Consumer Staples, and thus will be more susceptible to the risks affecting those sectors than funds that have more diversified holdings across several sectors.

The success of companies that sell luxury goods and services may depend heavily on the disposable household income and consumer spending of a relatively small segment of the general population, rather than the consumer population as a whole. Changes in consumer taste among such segment of the population can also affect the demand for, and success of, luxury goods and services in the marketplace.

Tema Global Limited serves as the investment adviser to Tema Luxury ETF (the “Fund”), and NEOS Investments, LLC serves as a sub-adviser to the Fund. The Fund is distributed by Foreside Services LLC, which is not affiliated with Tema Global Limited nor NEOS Investments, LLC.